Question
A).A business remodels a building for $75,450. They put $22,635 down and pay off the rest of the balance in payments made at the end
A).A business remodels a building for $75,450. They put $22,635 down and pay off the rest of the balance in payments made at the end of each quarter for 10 years. The interest is 12% compounded quarterly. Find the amount of each payment so thatthe loan is fully amortized.
B).Valdez construction signed a note with a payment of $5200per quarter for 5 years. Find the amount they must set aside today tosatisfy this capital requirement in an account earning 8% compounded quarterly.
C). An insurance settlement includes an $840 monthly payment for 3 years. Find the amount that must be set aside today, in an account earing 12% per year compounded monthly, to satisfy this financialobligation.
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