A loan of $7000 is to be repaid by three equal payments one and a half year from now, three years and four and three quarter years from now respectively. What is the size of the equal payments if interest on the debt is 15% compounded quarterly ? Use six decimal places for intermediate calculations and round the final answer to 2 decimal places (e.g.. 0.00) Be sure to show the financial calculator inputs for PY, Pv, CY, N FV and PMT on the document that you will hand in at the end of the test. Show the work for each calculation (required). Include a timeline if desired footional)

A loan of $7000 is to be repaid by three equal payments one and a half year from now, three years and four and three quarter years from now respectively. What is the size of the equal payments if interest on the debt is 15% compounded quarterly ? Use six decimal places for intermediate calculations and round the final answer to 2 decimal places (e.g.. 0.00) Be sure to show the financial calculator inputs for PY, Pv, CY, N FV and PMT on the document that you will hand in at the end of the test. Show the work for each calculation (required). Include a timeline if desired footional)

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 want to borrow $90,000 and you find a bank offering a 20-year loan with an APR of 5%. a. Find your regular payments if you pay n = 1, 12, 26, 52 times a year. b. Compute the total payout for each of the loans in part (a). c. Compare the total payouts computed in part (b). a. The payment for n = 1 would be $ The payment for n = 12 would be $ The payment for n = 26 would be $ The payment for n= 52 would be $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Can you please help me with the following questions? 1. Determine the total amount of an investment of $1,400 at 3.5% simple interest for 48 months. 2. Determine the total interest on a loan of $5,000 if the interest rate is 6.24%, compounded monthly for 12 years. 3. Use a TVM solver to determine the interest rate on a loan of $5,400 if interest is compounded monthly for 72 months and the final amount of the loan is $6,965.35. List the values you used for present value, future value, number of years, and number of compounding periods per year. 4. Use a TVM solver to determine the monthly payment of a lease of $21,568 if the interest rate is 4.8% compounded monthly for 48 months. 5. Over a five-year period, the maintenance on a car included two oil changes per year ($48 each), new brakes ($452), new tires ($678), and a new set of spark plugs ($145). What is the average yearly maintenance fee on the car for the five-year period? 6. Compare the…
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