Mr. Johnson borrows $100 000 at 10% effective annual interest. He must pay back the loan over30yrs with uniform monthly payments due on the first day of each month. What amount does Mr.Johnson pay($) each month?

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Answered: Mr. Johnson borrows $100 000 at 10%…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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ANSWER LETTER D ONLY M purchased a small lot in a subdivision, paying P200,000 down and promising to pay P15.000 every 3 months for the next 10 years. The seller figured interest at 12% compounded quarterly. (a)What was the cash price of the lot? (b) If M missed the first 12 payments , what must he pay at the time the 13th is due to bring himself up to date? (c) After making 8 payments, M wished to discharge his remaining indebtedness by a single payment at the time when the 9th regular payment was due, what must he pay in addition to the regular payment then due? (d) If M missed the first 10 payments, what must he pay when the 11th payment is due to discharge his entire indebtedness?
3
Lita made a loan of 1500 pesos at 99 simple interest for 5 years. At the end of this period, without the interest being paid the loan was extended for 3 years, but the new interest rate was made 20% compounded quarterly. How much should the borrower pay at the end of 8 years?
If you borrow $14000 now at 10% interest for 7 years, what is the total accumulated compound interest owed at the end of year 7?
PLS. ANSWER AND SHOW CASH FLOW DIAGRAMFind the present value of an annuity‐due of $200 per quarter for 2 years, if interest is compoundedmonthly at the nominal rate of 8%.
) You borrowed $5,000.00 at 2% per month and agreed to repay in equal monthly payments over the next 2 years. What is your monthly payment?
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WITH SIMPLE INTEREST OF FIND THE PRESENT WORTH OF T 20,000D WHICH DUE At THE FND OF MONTHS.
18.d

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Mr. Johnson borrows $100 000 at 10% effective annual interest. He must pay back the loan over 30yrs with uniform monthly payments due on the first day of each month. What amount does Mr. Johnson pay($) each month?