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Author Question: John borrowed 12,000 to buy a new car and expects to pay 564.87 per month for the next 2 years to ... (Read 31 times)

Shelles

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on: Jul 10, 2018
John borrowed 12,000 to buy a new car and expects to pay 564.87 per month for the next 2 years to pay off the loan. What is the loan's rate of interest?
 
  What will be an ideal response?

Question 2

A sophisticated capital budgeting technique that can be computed by subtracting a project's initial investment from the present value of its cash inflows discounted at a rate equal to a firm's cost of capital is called net present value.
 
  Indicate whether the statement is true or false


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jessofishing

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Reply #1 on: Jul 10, 2018
Answer to Question 1

Using Financial Calculator: PV=12000, FV=0, N=24, PMT=-564.87, CPT I: 0.9998 x 12=12

Answer to Question 2

TRUE


Shelles

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Reply 2 on: Jul 10, 2018
YES! Correct, THANKS for helping me on my review

kjohnson

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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