You want to buy a car, and a local bank will lend you $30,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 7% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places. Monthly loan payment: $ 701.28 EAR: 10.47 % Hide Feedback Incorrect

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
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If you can't do both questions pls skip i will have to dislike its my Only question left thanks sir please 

You want to buy a car, and a local bank will lend you $30,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be
7% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your
answer for the monthly loan payment to the nearest cent and for EAR to two decimal places.
Monthly loan payment: $ 701.28
EAR: 10.47
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Incorrect
%
Transcribed Image Text:You want to buy a car, and a local bank will lend you $30,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 7% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places. Monthly loan payment: $ 701.28 EAR: 10.47 Hide Feedback Incorrect %
What's the future value of an 8%, 5-year ordinary annuity that pays $100 each year? If this was an annuity due, what would its future value be? Do not round intermediate
calculations. Round your answers to the nearest cent.
Future Value of an Ordinary Annuity: $
Future Value of an Annuity Due: $
Transcribed Image Text:What's the future value of an 8%, 5-year ordinary annuity that pays $100 each year? If this was an annuity due, what would its future value be? Do not round intermediate calculations. Round your answers to the nearest cent. Future Value of an Ordinary Annuity: $ Future Value of an Annuity Due: $
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