Homework Answers
First we will find the present value of the actual student loan using pv formulae in excel
=pv(rate,nper,pmt,fv,type)
=pv(8%/12,4*12,-600,0,0)
=$24,577.15
We use nper formulae in excel to find this:
=nper(rate,pmt,pv,fv,type)
Rate=8%/12(since monthly compounding)
Pmt=-775
Pv=$24,577.15
Fv=0
Type=0
=nper(8%/12,-775, $24,577.15,0,0)
=35.75 months
You have an outstanding student loan with required payments of $600 per month for the next...
You have an outstanding student loan with required payments of $600 per month for the next four years. The interest rate on the loan is 9% APR (compounded monthly). Now that you realize your best investment is to prepay your student loan, you decide to prepay as much as you can each month Looking at your budget, you can afford to pay an extra $250 a month in addition to your required monthly payments of $600, or $850 in total...
You have an outstanding student loan with required payments of $600 per month for the next four years. The interest...
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You have an outstanding student loan with required payments of $600 per month for the next four years. The interest rate on the loan is 9% APR (compounded monthly). Now that you realize your best investment is to prepay your student loan, you decide to prepay as much as you can each month Looking at your budget, you can afford to pay an extra $250 a month in addition to your required monthly payments of $600, or $850 in total...
You have an outstanding student loan with required payments of $600 per month for the next four years. The interest rate on the loan is 10% APR (compounded monthly). Now that you realize your best investment is to prepay your student loan, you decide to prepay as much as you can each month. Looking at your budget, you can afford to pay an extra S250 a month in addition to your required monthly payments of $600, or $850 in total...
You have an outstanding student loan with required payments of $550 per month for the next four years. The interest rate on the loan is 10% APR (compounded monthly). Now that you realize your best investment is to prepay your student loan, you decide to prepay as much as you can each month. Looking at your budget, you can afford to pay an extra $250 a month in addition to your required monthly payments of $550, or $800 in total...
sieno Homework: Assignment 3 Score: 0 of 1 pt Save TS - HW Score: 22.22% 2 of 9 pts 2.CE.27 Question Heln 1 An agency recently surveyed people from different countries asking them "How important is acquiring wealth to you? The percent who responded that it was more than average importance were: 70.5 country A. 59.4% country B. 76,8% country C 66.7% country D, and 44.1% country E. There were about 1500 respondents per country report showed the accompanying a...
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Save Score: 0 of 1 pt 8 of 9 (3 complete) HW Score: 22.22 % , 2 of 9 pts P 5-38 (similar to) Question Help What is the shape of the yield curve given in the following term structure? What expectations are investors ikely to have about future interest rates? Term 2 years 10 years 20 years 1 уear 1.96 З уears 2.74 5 years 3.34 7 years Rate (EAR, %) 244 3.76 414 4 92 What is the...
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core: 0 of 1 pt HW Score: 75%, 4.5 of 6 p Bus Econ 5.4.50 Question Help A n w employee charged S 7640 on his credit card to relocate for his rst job. After noticing that the interest rate for his balance was 18% compounded monthly, he stopped charging on that account. He wishes to pay off his balance in 2 years using automatic payments sent at the end of each month. a. What monthly payment must he make...
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