Construct a time diagram showing the solution of these obligations. José has a loan with a local bank for $ 3,000.00 with 8% annual interest maturing in 15 months. Also, he owes Carlos $ 1,000.00 with 6% annual interest maturing in 5 months. In addition, I asked Ricardo to buy me a computer that costs $ 1,500.00 knowing that he pays a VAT and also charges me 3% annual interest until I pay him the debt. José makes a new agreement to pay his debt in two payments, a payment of $ 800.00 at 7 months and the rest is canceled at 12 months assuming a yield of 4% per year, taking 12 months as the focal date.
Construct a time diagram showing the solution of these obligations. José has a loan with a local bank for $ 3,000.00 with 8% annual interest maturing in 15 months. Also, he owes Carlos $ 1,000.00 with 6% annual interest maturing in 5 months. In addition, I asked Ricardo to buy me a computer that costs $ 1,500.00 knowing that he pays a VAT and also charges me 3% annual interest until I pay him the debt. José makes a new agreement to pay his debt in two payments, a payment of $ 800.00 at 7 months and the rest is canceled at 12 months assuming a yield of 4% per year, taking 12 months as the focal date.
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 2P: Cost of Bank Loan Mary Jones recently obtained an equipment loan from a local bank. The loan is for...
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Construct a time diagram showing the solution of these obligations.
José has a loan with a local bank for $ 3,000.00 with 8% annual interest maturing in 15 months. Also, he owes Carlos $ 1,000.00 with 6% annual interest maturing in 5 months. In addition, I asked Ricardo to buy me a computer that costs $ 1,500.00 knowing that he pays a VAT and also charges me 3% annual interest until I pay him the debt. José makes a new agreement to pay his debt in two payments, a payment of $ 800.00 at 7 months and the rest is canceled at 12 months assuming a yield of 4% per year, taking 12 months as the focal date.
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