a) You take outa 14-week, 3 8000 loan at 1% Simpc annal intrirs). Mow much Mancywill you Cthire are 52 weaks in a yca) hae to poy back n total afte 14-wecks? Round to the ncarest centis FV= b) Suppoe the kader also Chagos you a B 500 tec on top of the interen If you think of the fece as additional ntorsic what is the actual nerest racan you will pay after 1ut wecks? (round to three decimal places)
a) You take outa 14-week, 3 8000 loan at 1% Simpc annal intrirs). Mow much Mancywill you Cthire are 52 weaks in a yca) hae to poy back n total afte 14-wecks? Round to the ncarest centis FV= b) Suppoe the kader also Chagos you a B 500 tec on top of the interen If you think of the fece as additional ntorsic what is the actual nerest racan you will pay after 1ut wecks? (round to three decimal places)
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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Transcribed Image Text:a) You take out a 14-week, 3800 loan at l% Simple annoal intus). MHOW much
Mancy will you
Cthire are 52 weas in a yca)
have to poy back n tokal afto 14-uecks? Round to the ncarest cent:
FV=
b) Suppoe the kander also Chages you a b500 Fee on top of the interesth If you think of
the fe as additional ntorsrc what is the actual neest ratcen you
will
pay
after Kt wecks? Cround to three Jecimul place
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