9. Jamel has borrowed $8500 today and agreed to repay it in two equa payments to be made in 9 months and 12 months from today. Find the size of the equal payments if interest is to be charged at the rate of 2.4% p.a. 10. A $7800 investment has received 2.4% p.a. interest over 40 months, and then the interest changed to 4.5% p.a. for another 40 months. Find the accumulated value of this investment assuming no ontribution or withdrawal is made in that 80 months period.

9. Jamel has borrowed $8500 today and agreed to repay it in two equa payments to be made in 9 months and 12 months from today. Find the size of the equal payments if interest is to be charged at the rate of 2.4% p.a. 10. A $7800 investment has received 2.4% p.a. interest over 40 months, and then the interest changed to 4.5% p.a. for another 40 months. Find the accumulated value of this investment assuming no ontribution or withdrawal is made in that 80 months period.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Suppose you borrowed $ 15 000 at 8% monthly interest to repay it in monthly installments over 4 years. At the end of the first year (after 12 payments), you want to negotiate with the bank to pay off the remainder of the loan as in the following plan: The next payment will be made in the sixth month of the 2nd year in the amount G and will continue to increase linearly in the amount G every 3 months. Then what is G?
am. 25.
İlhan got a loan of 10.000 TL with a maturity of 10 years with an annual effective interest of 9%. At the end of each year, it pays interest on the loan and a deposit on the debt repayment fund of 8% effective interest. Calculate the total amount of payments İlhan made during the 10-year period.
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