(1 point) Dominic borrows 7700 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 7.9 percent, and the interest paid on the sinking fund is 7.4 percent, both effective. If the loan is to be settled 13 years from now, and the sinking fund deposits increase by 8 dollars per year, what is Dominic's total outlay at the end of the 6th year? (Assume the first interest payment and sinking fund deposits are both due in one year.) Answer = dollars. (1 point) Ralph has just borrowed 1700 dollars to purchase a new stereo, at a nominal rate of interest of 11 percent convertible monthly. Although he is charged interest from the moment he borrows the money, the first payment is not due for 6 months. If he will make 24 monthly payments, how much interest is in the 17th payment? Answer = dollars. (1 point) Fred takes out a loan from C'Ville Bank at a nominal rate of 10.5 percent convertible monthly, and agrees to repay the loan with 36 equal monthly payments, the first due a month after the loan is made. Immediately after making the 13th payment, C'Ville sells the loan to Richmond Bank for 2000 dollars. If Richmond Bank's yield on the loan is 14.7 percent convertible monthly, how much did Fred originally borrow? Answer = dollars (1 point) Dominic borrows 7700 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 7.9 percent, and the interest paid on the sinking fund is 7.4 percent, both effective. If the loan is to be settled 13 years from now, and the sinking fund deposits increase by 8 dollars per year, what is Dominic's total outlay at the end of the 6th year? (Assume the first interest payment and sinking fund deposits are both due in one year.) Answer = dollars. (1 point) Ralph has just borrowed 1700 dollars to purchase a new stereo, at a nominal rate of interest of 11 percent convertible monthly. Although he is charged interest from the moment he borrows the money, the first payment is not due for 6 months. If he will make 24 monthly payments, how much interest is in the 17th payment? Answer = dollars. (1 point) Fred takes out a loan from C'Ville Bank at a nominal rate of 10.5 percent convertible monthly, and agrees to repay the loan with 36 equal monthly payments, the first due a month after the loan is made. Immediately after making the 13th payment, C'Ville sells the loan to Richmond Bank for 2000 dollars. If Richmond Bank's yield on the loan is 14.7 percent convertible monthly, how much did Fred originally borrow? Answer = dollars
