Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 10, 2024

A loan of $2150 is to be repaid by annual payments of $258 to commence at the end of the 5th year and to continue

A loan of $2150 is to be repaid by annual payments of $258 to commence at the end of the 5th year and to continue thereafter for as long as necessary. Find the time and amount of the final payment, if the final payment is to be larger than the regular payments. Assume i=5.6%.

Find

Last payment at time =?

Last payment = ?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Econometrics For Finance

Authors: Chris Brooks

4th Edition

110843682X, 9781108436823

More Books

Students also viewed these Finance questions

Question

★★★★★

Access the most recent Financial Report of the U.S. Government at the U.S. Treasury Department Web site, www.fms.treas.gov/fr, and answer the following questions. a. What are amounts of the total...

Answered: 1 week ago

Question

★★★★★

Plot the graphs of the given functions. N = 0.2 log 4 v

Answered: 1 week ago

Question

★★★★★

useful in this situation? Why or why not?

Answered: 1 week ago

Question

★★★★★

Polo Ralph Lauren Corporation designs, markets, and distributes a variety of apparel, home decor, accessory, and fragrance products. The companys products include such brands as Polo by Ralph Lauren,...

Answered: 1 week ago

Question

★★★★★

Which computer correctly predicted the winner of the U . S . presidential election of 1 9 5 2 ? Question 6 options: IBM Model 5 1 5 0 The Mark IV Altair 8 8 0 0 Univac

Answered: 1 week ago

Question

★★★★★

can you please answer the guide questions below. please answer thank you and also please explain the activity. reference link: https://sg.docs.wps.com/l/sIDTNstgyz_OikAY What I Can Do STRAW WAVES...

Answered: 1 week ago

Question

★★★★★

Using the P-O-L-C Framework, answer the following questios: 600 wrds.. Take one item from each section that you could relate to you and discuss how you could use in your life right now.and write the...

Answered: 1 week ago

Question

★★★★★

Fig. H 4.39 Determine the forces bars 1, 2 and 3 of the plane truss loaded and supported (Ans. S S2 S3=-30 a/2h) as shown in Fig. I. = C aaaaaa B aga Fig. 1 Q

Answered: 1 week ago

Question

★★★★★

Neo bank(not physical, only internet banking) has a cyber threat about fake ID card issue. Q1. What is high level plan of possible options in terms of focus and investment options as part of both...

Answered: 1 week ago

Question

★★★★★

Question 1: Hypothesis: For an E-commerce company, an instant messaging mobile application is required for day-to-day communications. For a given business use case, derive the scope using concept...

Answered: 1 week ago

Question

★★★★★

(b) Figure Q2 (b) shows the composite cross-sectional area of the C-shape beam. i. Determine the centroid of the beam's cross-sectional area. ii. Determine the moment of inertia of the area about the...

Answered: 1 week ago

Question

★★★★★

Google search multinational insurance licensing laws, check a few sites, and make a list of four specific ways insurance licensing laws differ among countries.

Answered: 1 week ago

Question

★★★★★

Would you recommend this program to your employer? Why?

Answered: 1 week ago

Question

★★★★★

Lay out a complete incentive plan (including all long- and short-term incentives) for the Hotel Pariss hotel managers.

Answered: 1 week ago

Previous Question Next Question