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I need help figuring out questions 1-4 Questions Answers 1 You are offered an investment that will make three payments. The first payment of $5,600
I need help figuring out questions 1-4
Questions Answers 1 You are offered an investment that will make three payments. The first payment of $5,600 will occur four years from today. The second of $6,700 will occur in five years, and the third of $7,800 will follow in seven years. If you can earn 91% percent, what is the most this investment is worth today? 2 A bank is offering 11.1% percent compounded quarterly. If you put $110 per quarterly at the end of each quarter in an account, how much will you have at the end of 5 year? 3 A bank is offering 9.8% percent compounded weekly. What is the effective annual rate (EAR)? 4 You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage loan for 80 percent of the $2,700,000 purchase price. The monthly payment on this loan will be $13,600. What is the APR on this loanStep by Step Solution
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