A company takes out a loan of 50,000 at an annual effective discount rate of 4.8%. You are given: (1) The loan is to be repaid with n annual payments of 5,000 plus a drop payment one year after the nth payment. (ii) The first payment is due four years after the loan is taken out. Calculate the amount of the drop payment.

Q: Consider a student loan of $12,500 at a fixed APR of 6% for 25 years. a. Calculate the monthly…

A: (a) Obtain the monthly payment as follows.

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Q: Calculate

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Q: The monthly payments on a 10-year loan of $20,000 at 6.6% interest are $228.11. (a) What is the…

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Q: Three years ago, Pete took out a loan of $55,000.  The loan was taken out for 10 years with an…

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Q: Hank made payments of $105 per month at the end of each month for 30 years to purchase a piece of…

A: given payment $105 per month FV=$98310 t=30 years  =30×12 month  =360 month claim- (1) find the…