Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
Your company will make quarterly payments of $12,500 on a $250,000 piece of equipment at 8.25% interest. How many years will it take to pay off the loan?
 one year ago
 one year ago
Your company will make quarterly payments of $12,500 on a $250,000 piece of equipment at 8.25% interest. How many years will it take to pay off the loan?
 one year ago
 one year ago

This Question is Open

YungPolo87434Best ResponseYou've already chosen the best response.0
idk i need the answer to this problem x<7;7
 one year ago

PrettyGirl22Best ResponseYou've already chosen the best response.0
what does the question ask you
 one year ago

PrettyGirl22Best ResponseYou've already chosen the best response.0
i need more details
 one year ago

YungPolo87434Best ResponseYou've already chosen the best response.0
tell whether the number in bold solution
 one year ago

YungPolo87434Best ResponseYou've already chosen the best response.0
for each inequality,tell whether the number in bold is a solution
 one year ago

PrettyGirl22Best ResponseYou've already chosen the best response.0
i'm not sure go on yahoo and ask
 one year ago

agent0smithBest ResponseYou've already chosen the best response.0
I'm assuming the 8.25% interest is compounded yearly...? My initial calculations suggest that the company will never pay off the loan... maybe I've done something wrong.
 one year ago

PrettyGirl22Best ResponseYou've already chosen the best response.0
its quarterly payments
 one year ago

agent0smithBest ResponseYou've already chosen the best response.0
Yeah, but the 8.25% interest rate, it doesn't say if it's compounded yearly or what. The payments are quarterly, maybe the interest is too? idk, it should tell you.
 one year ago

PrettyGirl22Best ResponseYou've already chosen the best response.0
nope thats all the information
 one year ago

agent0smithBest ResponseYou've already chosen the best response.0
Have you studied compound interest yet? Maybe it's just simple interest
 one year ago

agent0smithBest ResponseYou've already chosen the best response.0
Simple interest makes it way easier to solve
 one year ago

agent0smithBest ResponseYou've already chosen the best response.0
And as far as I can tell, using compound interest... the company won't EVER pay off the loan.
 one year ago

PrettyGirl22Best ResponseYou've already chosen the best response.0
they will its a problem in excel
 one year ago

PrettyGirl22Best ResponseYou've already chosen the best response.0
You want to buy a new motorcycle. The payments will be $244.22 per month for 8 years. The interest rate is 7.35%. What is the asking price of the motorcycle? here is a problem similar
 one year ago

agent0smithBest ResponseYou've already chosen the best response.0
Have you studied compound interest? There's a big difference between that and simple interest for these problems.
 one year ago

agent0smithBest ResponseYou've already chosen the best response.0
I'm guessing they're simple interest problems
 one year ago

PrettyGirl22Best ResponseYou've already chosen the best response.0
yeah but this is for a computer science class
 one year ago

agent0smithBest ResponseYou've already chosen the best response.0
Oh, I'm not familiar with computer science, so it looks like I was going at it the wrong way. I looked it up and don't recognize the formulas. This should help, it looks like the same problem as yours: http://answers.yahoo.com/question/index?qid=20121210132233AAtJBAz
 one year ago

agent0smithBest ResponseYou've already chosen the best response.0
this looks like it may have the formula you need: http://www.cimaglobal.com/Thoughtleadership/Newsletters/Insightemagazine/Insight2011/InsightJanuary2011/Spreadsheetskillsadebttorepay/
 one year ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.