Question
I want to confirm if my answers are right: 15. If the interest rate is 8%, what is the net present value of a security
I want to confirm if my answers are right:
15. If the interest rate is 8%, what is the net present value of a security that pays you $350 next year, $385 the year after, and $436 the year after that?
1,000.35
16. If the interest rate is 10%, what is the net present value of a security that pays you $350 next year, $385 the year after, and $436 the year after that?
963.93
17. What is the interest rate of a loan of $100 if you have to pay $110 next year?
10%
18. You decide to purchase a new home and need a $100,000 mortgage. You take out a loan from the bank that has an interest rate of 7%. What is the yearly payment to the bank to pay off the loan in twenty years?
$9,439.29
15. If the interest rate is 8%, what is the net present value of a security that pays you $350 next year, $385 the year after, and $436 the year after that? 16. If the interest rate is 10%, what is the net present value of a security that pays you $350 next year, $385 the year after, and $436 the year after that? 17. What is the interest rate of a loan of $100 if you have to pay $110 next year? 18. You decide to purchase a new home and need a $100,000 mortgage. You take out a loan from the bank that has an interest rate of 7%. What is the yearly payment to the bank to pay off the loan in twenty yearsStep by Step Solution
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