suppose you borrow $10,000 today ; and promise to pay the loan back in 6 years with a total payment (principal plus interest) of 15,092. what annual interest rate is the bank charging? assume that compounding is annual.
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suppose you borrow $10,000 today ; and promise to pay the loan back in 6 years...
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QUESTION 4 For 2a)2(c) using the following information You borrow $10.000 today with interest rate 7...
QUESTION 4 For 2a)2(c) using the following information You borrow $10.000 today with interest rate 7 and you plan to pay the bank back with equal annual payment. Let us assume the first payment happen at the end of each year. Principal beg. year Payment end year Interest Principal 2) how much is the annual payment? 1674.678 QUESTIONS You borrow $10,000 today with interest rate 7%, and you plan to pay the bank back with 8 equal annual payment 200)...
For 2(a)-2(c) using the following information. You borrow $10,000 today with interest rate 7%, and you...
For 2(a)-2(c) using the following information. You borrow $10,000 today with interest rate 7%, and you plan to pay the bank back with 8 equal annual payment. Let us assume the first payment happen at the end of each year Principal beg. Payment Yearyear end year Interest Principal 2(a) how much is the annual payment? We were unable to transcribe this image
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Lyon, Tigah, Barry, and Dorthe each borrow $3,500 and plan to pay it back over 2 years at 7% interest. 3. , What is the total interest that each one pays over the life of the loan if the interest rate is compounded quarterly? [20] .Lyon pays back his loan in one payment at the end of 2 years. " Tigah pays back her loan with annual interes t payments and the principal payment at the end of 2 years....
QUESTION 4 For 2a)2(c) using the following information You borrow $10.000 today with interest rate 7 and you plan to pay the bank back with equal annual payment. Let us assume the first payment happen at the end of each year. Principal beg. year Payment end year Interest Principal 2) how much is the annual payment? 1674.678 QUESTIONS You borrow $10,000 today with interest rate 7%, and you plan to pay the bank back with 8 equal annual payment 200)...
For 2(a)-2(c) using the following information. You borrow $10,000 today with interest rate 7%, and you plan to pay the bank back with 8 equal annual payment. Let us assume the first payment happen at the end of each year Principal beg. Payment Yearyear end year Interest Principal 2(a) how much is the annual payment? We were unable to transcribe this image
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