(Answered) The elkridge bar amp grill has a seven-year loan of 21400

Finance

The Elkridge Bar & Grill has a seven-year loan of $21,400 with Bank of America. It plans to repay the loan in seven equal installments starting today. If the rate of interest is 11.30 percent, how much will each payment be? (Round intermediate calculations to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, e.g. 15.25.)

Elkridge Bar & Grill's payment

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92719490
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Basic Finance

The following data have been acquired for the sampp 500 and

The following data have been acquired for the S&P 500 and an index of Russian stocks: Year Market Return Russia 1998 27% 25% 1997 12% 5% 1996 -3% -5% 1995 12% 15% 1994 -3% -10% 1993 27% 30% Does it make sense to add an i ...

Question - since the tracker portfolio is a passive

Question - Since the tracker portfolio is a passive strategy, your boss moves you on to other projects. However, 10 months have now passed and your boss asks you to look into the performance of the tracker portfolio. The ...

How to figure out the profit loss of a company what

How to figure out the profit loss of a company, what evidence would show that and what would be some solutions that can help a company detour from profit loss?

What are the steps to protecting health information during

What are the steps to protecting health information during Electronic Health Records implementation?

Your father who is 60 plans to retire in 2 years and he

Your father, who is 60, plans to retire in 2 years, and he expects to live independently for 3 years. Suppose your father wants to have real income of $40,000 in today's dollars in each year after he retires. His retirem ...

One year ago you bought a put option on 125000 euros with

One year ago, you bought a put option on 125,000 euros with an expiration date of one year. You paid a premium on the put option of $.05 per unit. The exercise price was $1.36. Assume that one year ago, the spot rate of ...

Consider the following two mutually exclusive

Consider the following two mutually exclusive projects: Project / Year 0 1 2 3 4 Cost of Capital A -100 40 40 40 40 15% B -73 30 30 30 30 15% Which of the following is closest to the incremental IRR?

The price of a brand new jeep compass is 66515 youll make

The price of a brand new jeep compass is $66,515. You'll make $10,000 down payment and rest of the amount will be financed. Assuming an 84-month loan and an APR of 4.2%, what is the monthly payment on the loan?

What are the steps in the typical marketing research

What are the steps in the typical marketing research design/process? Name and define each step.

You are planning to make annual deposits of 4440 into a

You are planning to make annual deposits of $4,440 into a retirement account that pays 9 percent interest compounded monthly. How large will your account balance be in 32 years? (Do not round intermediate calculations an ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert