A. You borrowed $10,000 from a bank to invest in IT & Mobile technology with payback the loan in graduated payment plan. If your first payment is $1,000 at the end of first year and i=10% over 5 years. Note: (P/G, 10%, 5) = 6.86 ?What is the G payment $561 $628 $730 $905 Find the total earned interest by the ?bank at the end of period $7,055 $6,100 $5,085 $4,560
A. You borrowed $10,000 from a bank to invest in IT & Mobile technology with payback the loan in graduated payment plan. If your first payment is $1,000 at the end of first year and i=10% over 5 years. Note: (P/G, 10%, 5) = 6.86 ?What is the G payment $561 $628 $730 $905 Find the total earned interest by the ?bank at the end of period $7,055 $6,100 $5,085 $4,560
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 borrowed $10,000 from a bank to
invest in IT & Mobile technology with
payback the loan in graduated payment
plan. If your first payment is $1,000 at the
end of first year and i=10% over 5 years.
Note: (P/G, 10%, 5) = 6.86
%3D
?What is the G payment
$561
$628
$730
$905
Find the total earned interest by the
?bank at the end of period
$7,055
$6,100
$5,085
$4,560
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