Jens just took out a loan from the bank for 59,516 dollars. He plans to repay...
Jens just took out a loan from the bank for 59,516 dollars. He plans to repay this loan by making a special payment to the bank of 5,460 dollars in 3 years and by also making equal, regular annual payments of X for 7 years. If the interest rate on the loan is 11.84 percent per year and he makes his first regular annual payment in 1 year, then what is X, Jens’s regular annual payment?
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Jens just took out a loan from the bank for 59,516 dollars. He
plans to repay...
Omar just took out a loan from the bank for 142,894 dollars. He plans to repay...
Omar just took out a loan from the bank for 142,894 dollars. He plans to repay this loan by making a special payment to the bank of 26,888 dollars in 3 months and by also making equal, regular monthly payments of X. If the interest rate on the loan is 0.8 percent per month, he makes his first regular monthly payment later today, and he makes his last regular monthly payment made in 7 months from today, then what is...
answer those 4 please Fatima just borrowed 83,364 dollars. She plans to repay this loan by...
answer those 4 please Fatima just borrowed 83,364 dollars. She plans to repay this loan by making a special payment of 29,387 dollars in 7 years and by making regular annual payments of 13,147 dollars per year until the loan is paid off. If the interest rate on the loan is 17.93 percent per year and she makes her first regular annual payment of 13,147 dollars immediately, then how many regular annual payments of 13,147 dollars must Fatima make? Round...
Quantum Pizza took out a loan from the bank today for 22,700 dollars. The loan requires...
Quantum Pizza took out a loan from the bank today for 22,700 dollars. The loan requires Quantum Pizza to make a special payment of 13,800 dollars to the bank in 5 years and also make regular, fixed payments of X to the bank each year forever. The interest rate on the loan is 4.3 percent per year and the first regular, fixed annual payment of X will be made to the bank in 1 year. What is X, the amount...
Quantum Pizza took out a loan from the bank today for 21,000 dollars. The loan requires...
Quantum Pizza took out a loan from the bank today for 21,000 dollars. The loan requires Quantum Pizza to make a special payment of 13,700 dollars to the bank in 5 years and also make regular, fixed payments of X to the bank each year forever. The interest rate on the loan is 7.86 percent per year and the first regular, fixed annual payment of X will be made to the bank in 1 year. What is X, the amount...
Celeste just borrowed 36,800 dollars. She plans to repay this loan by making equal quarterly payments...
Celeste just borrowed 36,800 dollars. She plans to repay this loan by making equal quarterly payments of 2,894.03 dollars for 14 quarters. If she makes her first quarterly payment later today, then what is the quarterly interest rate on the loan? Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.
Celeste just borrowed 39,000 dollars. She plans to repay this loan by making equal quarterly payments...
Celeste just borrowed 39,000 dollars. She plans to repay this loan by making equal quarterly payments of 2,546.48 dollars for 17 quarters. If she makes her first quarterly payment later today, then what is the quarterly interest rate on the loan? Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098. Please show your work
Dominic borrows 7200 dollars today, and agrees to repay the loan by making annual interest payments...
Dominic borrows 7200 dollars today, and agrees to repay the loan by making annual interest payments to the lender, and by also accumulating a sinking fund with increasing annual deposits to repay the principal. The interest rate on the loan is 8.8 percent, and the interest paid on the sinking fund is 6.7 percent, both effective. If the loan is to be settled 15 years from now, and the sinking fund deposits increase by 7 dollars per year, what is...
George Costanza has just taken out an $18,718.00, 60-month car loan from his local bank with...
George Costanza has just taken out an $18,718.00, 60-month car loan from his local bank with a 7.20% interest rate compounded monthly. At the end of the second year, George plans on making a $3,167.00 payment directly to the loan’s principal and then to keep on making his regular monthly payments. How many months remain on the loan after the extra payment is made? (Do not round)
An investment, which is worth 30,300 dollars and has an expected return of 7.42 percent, is...
An investment, which is worth 30,300 dollars and has an expected return of 7.42 percent, is expected to pay fixed annual cash flows forever with the next annual cash flow expected in 1 year. What is the present value of the annual cash flow that is expected in 7 years from today? Quantum Pizza took out a loan from the bank today for 24,500 dollars. The loan requires Quantum Pizza to make a special payment of 13,500 dollars to the...
You borrow $1,000 from the bank and agree to repay the loan over the next year...
You borrow $1,000 from the bank and agree to repay the loan over
the next year in 12 equal monthly payments of $90. However, the
bank also charges you a loan initiation fee of $29, which is taken
out of the initial proceeds of the loan. What is the effective
annual interest rate on the loan, taking account of the impact of
the initiation fee?
You borrow $1,000 from the bank and agree to repay the loan over the next...
You borrow $1,000 from the bank and agree to repay the loan over
the next year in 12 equal monthly payments of $90. However, the
bank also charges you a loan initiation fee of $29, which is taken
out of the initial proceeds of the loan. What is the effective
annual interest rate on the loan, taking account of the impact of
the initiation fee?
You borrow $1,000 from the bank and agree to repay the loan over the next...
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