Answered step by step
Verified Expert Solution
Question
1 Approved Answer
equations and answers please Q1) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $18,822
equations and answers please
Q1) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $18,822 with an annual interest rate of 02.00%. The loan will be repaid over 4 years with monthly payments. a) What is the Loan Payment? b) What portion of this payment is interest? c) What portion of this payment is Principal? d) What is the Loan balance after first monthly payment? Q2) What is the most you would be willing to pay for a investment that will pay you $68 in one year, $666, in two years, and $958 in three years, if your required rate of return for this type of investment is 11.00%? hen inputting an answer, round your answer to the nearest 2 decimal places. If you need o use a calculated number for further calculations, DO NOT round until after all calculations have been completed. For the final answer, Round to 2 decimal placesStep 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