Show all steps and don't use excel or other computer softwear
show clearly which answer belong to which part.
Homework Answers
Borrowed amount now = $1,500,000
Interest Rate = 3.25%
How much the student will pay as one lump sum after 10
years?
So, calculate the future value of present borrowed money.
Future Value = P (F/P, 3.25%, 10)
Future Value = $1,500,000 (1.3768943)
Future Value = $2,065,341.45
The total payment will be $2,065,341.45
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