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A friend wants to borrow money from you. He states that he will pay you $3,900...
A friend wants to borrow money from you. He states that he will pay you $2.800...
A friend wants to borrow money from you. He states that he will pay you $2.800 every 6 months for 10 years with the first payment exactly 6 years and six months from today. The interest rate Is an APR of 51 percent with semiannual compounding. What is the value of the payments today? Multiple Choice $32,23430 S23166 33519 o $32.4470 o 5301301
You need some money today and the only friend you have that has any is your...
You need some money today and the only friend you have that has any is your miserly friend. He agrees to loan you the money you need, if you make payments of $30 a month for the next six months. In keeping with his reputation, he requires that the first payment be paid today. He also charges you 2 percent interest per month. How much money are you borrowing?" $164.09 $168.22 $169.50 $170.68 $171.40 ***please show steps with a financial...
What is the value today of a money machine that will pay $3,168.00 per year for...
What is the value today of a money machine that will pay $3,168.00 per year for 30.00 years? Assume the first payment is made one year from today and the interest rate is 10.00%. What is the value today of a money machine that will pay $2,756.00 per year for 30.00 years? Assume the first payment is made 7.00 years from today and the interest rate is 6.00%. What is the value today of a money machine that will pay...
What is the value today of a money machine that will pay $2,756.00 per year for...
What is the value today of a money machine that will pay $2,756.00 per year for 30.00 years? Assume the first payment is made 7.00 years from today and the interest rate is 6.00%. What is the value today of a money machine that will pay $1,720.00 every six months for 29.00 years? Assume the first payment is made six months from today and the interest rate is 6.00%. What is the value today of a money machine that will...
What is the value today of a money machine that will pay $1,224.00 per year for...
What is the value today of a money machine that will pay $1,224.00 per year for 13.00 years? Assume the first payment is made 5.00 years from today and the interest rate is 7.00%. What is the value today of a money machine that will pay $1,417.00 every six months for 27.00 years? Assume the first payment is made six months from today and the interest rate is 11.00% What is the value today of a money machine that will...
What is the value today of a money machine that will pay $1,206.00 every six months...
What is the value today of a money machine that will pay $1,206.00 every six months for 14.00 years? Assume the first payment is made six months from today and the interest rate is 5.00%. Please show work. What is the value today of a money machine that will pay $2,339.00 every six months for 10.00 years? Assume the first payment is made 4.00 years from today and the interest rate is 7.00%.
A friend asks to borrow $47 from you and in return will pay you $50 in...
A friend asks to borrow $47 from you and in return will pay you $50 in one year. If your bank is offering a 5.6% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $47 instead? b. How much money could you borrow today if you pay the bank $50 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How...
What is the value today of a money machine that will pay $1,417.00 every six months...
What is the value today of a money machine that will pay $1,417.00 every six months for 27.00 years? Assume the first payment is made six months from today and the interest rate is 11.00%. What is the value today of a money machine that will pay $4,146.00 per year for 35.00 years? Assume the first payment is made today and that there are 35.0 total payments. The interest rate is 6.00%. Derek will deposit $3,988.00 per year for 19.00...
What is the value today of a money machine that will pay $1,598.00 per year for...
What is the value today of a money machine that will pay $1,598.00 per year for 22.00 years? Assume the first payment is made 2.00 years from today and the interest rate is 12.00%. Submit Answer format: Currency: Round to: 2 decimal places. unanswered not_submitted #2 What is the value today of a money machine that will pay $2,393.00 every six months for 18.00 years? Assume the first payment is made six months from today and the interest rate is...
You borrow money (take out a mortgage) to buy a house. You borrow $800,000 which you...
You borrow money (take out a mortgage) to buy a house. You borrow $800,000 which you will pay back with 10 equal payments made at the end of each of the next 10 years. The annual interest rate is 7 percent. Your first payment will be ____ principal payment, and _____ interest paid.
A friend wants to borrow money from you. He states that he will pay you $2.800 every 6 months for 10 years with the first payment exactly 6 years and six months from today. The interest rate Is an APR of 51 percent with semiannual compounding. What is the value of the payments today? Multiple Choice $32,23430 S23166 33519 o $32.4470 o 5301301
A friend asks to borrow $47 from you and in return will pay you $50 in one year. If your bank is offering a 5.6% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $47 instead? b. How much money could you borrow today if you pay the bank $50 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How...
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