10. Tony is offering Phil two repayment plans for a long overdue loan. Offer 1 is a visit from an enforceand the debt is due in full at once. Offer 2 is to pay back $4,000 at the end of each year at 15% interest rateuntil the loan principal is paid off. Phil owes Tony $20,000. How long will it take for Phil to pay off the loanif he takes Offer 2?A)201A = Po(1+r)th9.92 years7.27 years5.52 years6.64 yearsn = ln ( 4 )In/190201AVIn (1.15)11.515

Loan=PV=$20000Loan payment=PMT=$4000Interest rate=r=15%

Answered: ng two repayment plans for a and the…

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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Ttme Value of of Money Tim wants to borrow $400,000 from Bank of America on a 30-year mortgage. a. What would Tim's monthly payments be on his motgage? b. Amortize the loan and determine: Interest expense for the first quarter of the loan. Cash flows for the first quarter of the loan. Loan balance at the end of the first quarter of the loan. Please show your calculations, part b is very important. If you are using the TVM chart, please state whether you used PVoA, FVoA, PVoSA, FVoSA.
Question Tom wishes to purchase a property that has been valued at $300,000. He has $30,000 available as require a mortgage for the remaining amount. The bank offers him a 25-year mortgage at 2% inter monthly payment. 7 Round your answer to the nearest cent. Do NOT round until you have calculated the final answer. Provide your answer below: $1476 8 5 9 6 X X X y X 30 i H *D
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W - 2... History S Bookmarks Window Help SA D21 5.3 Amortized Loans... What will the monthly payment be? Sarah negotiated a price of $25,590.00 for a new Toyota Camry Hybrid Sedan. She is prepared to give a down payment of 17%. Her credit union offered her a 6-year amortized loan for the remaining amount at a rate of 1.8%. How much money will be paid in interest? How much will the car cost, in total? $ D21 Chapter 5.3 - 21516... www d2l.pima.edu CHECK ANSWER LG My Courses - Lookin... If she got a simple interest loan at the same interest rate and time, how much would she pay in interest? LG Academics - Looking...
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Question 1 To pay the remainder of his student loan, Tran borrows $3500 from his at an interest of 3.5% per year, compounded semi-annually. His parents would like the lone to be paid in full in 3 years. How much interest will Tran pay to his parents? Question 1 options: a) $350.00 b) $383.96 c) $410.00 d) $400.00

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ng two repayment plans for a and the debt is due in full at once. Offer 2 is to pay until the loan principal is paid off. Phil owes Tony S if he takes Offer 2? A) B) C) 9.92 years 7.27 years 5.52 years 2014 6-In (²)