Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello Team, Please help solve these problems. Thanks Tom is paying $950 every month on his house loan. If the loan lasts 31 years and

Hello Team,
Please help solve these problems. Thanks image text in transcribed
image text in transcribed
image text in transcribed
Tom is paying $950 every month on his house loan. If the loan lasts 31 years and has a 3.75% interest rate, how much was the original loan amount? $303.45$208,765.68$666,406.51$353,400.00 Question 3 PMT =$5,000 per year for 10 years. At a rate of 7.00% per year, how much is the PV of the payments? $24,342.09$35.117.91$50,000.00$9,082.24 Javier can afford a mortgage payment of $1,250 per month. If he gets a 30 year mortgage at 3.50%, how much can he borrow? $278,368.73$438.09$450,000.00$794,265.93 Question 5 Heather is receiving $175 every month for some money she loaned out. If the loan lasts 3 years and has a 7.5% interest rate, how much was the original loan amount? $5,625,88 $140.87$7.040.49 $14.088.17 Jimmy has a business that generates $100,000 per year in income. Tom wants to buy the business from Jimmy. Assuming a 5 year valuation period, and a discount rate of 7.5% per year, how much is Jimmy's business worth today? \begin{tabular}{|} $612,892.08 \\ $580,839.10 \\ $69,655.86 \\ 404,588.49 \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions

Question

2.1. Explain the typology of entrepreneurs distinctive journeys.

Answered: 1 week ago