2D7CD6D6-5539-4EB9-8900-58E02C8404DF

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School

Regent University *

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Course

320

Subject

Finance

Date

Nov 24, 2024

Type

jpeg

Pages

1

Uploaded by AgentCoyote2925

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Fully amortized loan (annual payments for principal and interest with the same amount each year). Chuck Ponzi has talked an elderly woman into loaning him $10,000 for a new business venture. She has, however, successfully passed a finance class and requires Chuck to sign a binding contract on repayment of the $10,000 with an annual interest rate of 10% over the next 20 years. Determine the cash flow to the woman under a fully amortized loan, in which Ponzi will make equal annual payments at the end of each year so that the final payment will completely retire the original $10,000 loan. Review Only 0 Click the icon to see the Worked Solution (Using an Equation). o Click the icon to see the Worked Solution (Using a Calculator). o Click the icon to see the Worked Solution (Using a Spreadsheet). What is the amount of payment that the woman will receive at the end of years 1 through 207 $ 1,1774.60 (Round to the nearest cent.)
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