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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Lorena's Cart took out a loan from the bank today for $245,800.00. The loan requires Lorena's Cart to make a special payment of $82,400.00 to the bank in 3 years and also make regular, fixed payments of X to the bank each year forever. The interest rate on the loan is 9.60 percent per year and the first regular, fixed annual payment of X will be made to the bank in 1 year. What is X, the amount of the regular, fixed annual payment? O $15,686.40 (plus or minus 3 dollars) O $62,588.64 (plus or minus 3 dollars) O $17,588.29 (plus or minus 3 dollars) O $23,596.80 (plus or minus 3 dollars) O none of the answers are within 3 dollars of the correct answer
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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.
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Krista borrowed $17,432. The loan is to be repaid by three equal payments due in 80, 154, and 263 days from now respectively Determine the size of the equal payments at an interest rate of 7% with a focal date of today The size of the equal payments is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
Give typing answer with explanation and conclusion a loan of 4415$ borrowed today is to be repaid in three equal installments due in one and a half years, four years, and five years, respectively. what is the size of the equal installments if money is worth 9.2% compounded monthly? The payments are each$?
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