finance

posted by .

A firm has decided to borrow $500,000 on a 10% add-on basis, payable in 8 end-of-month installments. What would the nominal annual percentage rate on the loan be.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. finance help

    You have decided to buy a car that costs $34,100. The dealer offers you a 5-year loan with monthly payments of $695 per month. What is the annual nominal interest rate on the loan?
  2. finance

    You have decided to buy a car that costs $34,100. The dealer offers you a 5-year loan with monthly payments of $695 per month. What is the annual nominal interest rate on the loan?
  3. Finance

    You have decided to buy a car that costs $34,100. The dealer offers you a 5-year loan with monthly payments of $695 per month. What is the annual nominal interest rate on the loan?
  4. Finance

    What is the nominal annual financing cost of a 9-month, $200,000 discounted bank loan at a stated annual interest rate of 10%
  5. Finance

    Kohers Inc is considering a leasing arrangement to finance some manufacturing tools that it needs for the next 3 years. The tools will be obsolete and worthless after 3 years. The firm will depreciate the cost of the tools on a straight-line …
  6. finance

    Kohers Inc is considering a leasing arrangement to finance some manufacturing tools that it needs for the next 3 years. The tools will be obsolete and worthless after 3 years. The firm will depreciate the cost of the tools on a straight-line …
  7. Finance

    Your board of directors is thinking of taking out a loan of $500,000 for the corporporation. You have to pay $5,500 per month and $50,000 after 10 years. What annual Rate of Return would you hve to achieve on investments to make this …
  8. Finance - Loans problem

    Reiny the answer 307.33 you posted at the bottom is coming up incorrect. please if you can help i would be very grateful. A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company …
  9. Finance - Loans problem please help

    A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company …
  10. Please Help me with a Finance - Loan problem

    A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company …

More Similar Questions