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TABLE 1 Future Value of $1 FV = $1(1+i) 20.0% 1.20000 1.44000 ndi 1.0% 1 1.01000 2 1.02010 3 1.03030 4 1.04060 5 1.05101 1.5TABLE 2 Present Value of $1 $1 PV (1+1) wi 1.0% 1 0.99010 2 0.98030 3 0.97059 4 0.96098 5 0.95147 1.5% 0.98522 0.97066 0.956TABLE 3 Future Value of an Ordinary Annuity of $1 EVA_ (1 + i) - 1 ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0%TABLE 4 Present Value of an ordinary Annuity of $1 1- (+1) PVA== ni 1 2 3 4 5 1.0% 1.5% 0.99010 0.98522 1.97040 1.95588 2.940TABLE 5 Future Value of an Annuity Due of $1 (1+i) -11 FVAD - = *(1+i) wi 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5,5%TABLE 6 Present Value of an Annuity Due of $1 PVAD= |x (1+i) ni 1 2 3 4 5 1.0% 1.00000 1.99010 2.97040 3.94099 4.90197 1.5% 1Lowlife Company defaulted on a $150,000 loan that was due on December 31, 2021. The bank has agreed to allow Lowlife to repayCalculate the required annual payment if the banks interest rate is 8% and five payments are to be made. (Round your final aIf the banks interest rate is 10%, how many annual payments of $28,117 would be required to repay the debt? (Round the valueIf three payments of $57,158 are to be made, what interest rate is the bank charging Lowlife? (Round percentage answer to one

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Answer #1
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Using the present value tables and assuming payment is made at end of the period we can calculate the annual payments
Annual payment Loan amount/Present value factor of ordinary annuity (i=10%,n=4)
Present value $150,000
n= 4
i= 10%
Annual installment $47,321 150000/3.16987
2
Annual payment Loan amount/Present value factor of ordinary annuity (i=10%,n=4)
Present value $150,000
n= 5
i= 8%
Annual installment $37,568 150000/3.99271
3
Annual payment Loan amount/Present value factor of ordinary annuity (i=10%,n=4)
Present value $150,000
n= 8
i= 10%
Annual installment $28,117
Present value of annuity 150000/28117
Present value of annuity 5.33485
Using the present value of annuity table and i=10% we get approx 8 years
4
Annual payment Loan amount/Present value factor of ordinary annuity (i=10%,n=4)
Present value $150,000
n= 3
i= 7%
Annual installment $57,158
Present value of annuity 150000/57158
Present value of annuity 2.62430
Using the present value of annuity table and in n column of 3 we get 2.62430 in case of i=7%
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