Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ms. R. would like to buy a mobile home. For this purpose, she takes out a loan on 01.01.2021 Amount of 80,000 euros. An annual

Ms. R. would like to buy a mobile home. For this purpose, she takes out a loan on 01.01.2021 Amount of 80,000 euros. An annual interest rate of 4.5% is set in the loan agreement.

a) Ms. R. agrees with the bank that the debt plus interest will be in nine equal amounts to be repaid at the end of each year. The first payment is to be made on December 31, 2022.

1. How much is the annuity to be paid at the end of each year from December 31, 2022? 2. Enter the repayment schedule line for the 7th year after the debt was taken on. 3. Ms. R. considers instead of the annuities, rather advance equal quarter payments in the years 2022, 2023, 2024 . . To achieve in 2030. How much is the quarterly payment?

b) Ms. R. agrees with the bank that the debt plus interest will be paid annuities in each case To repay 15,000 euros at the end of a year. The first payment is scheduled for December 31, 2022 respectively. How many years does she have to pay full annuities

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Auditing And GRC Automation In SAP

Authors: Maxim Chuprunov

1st Edition

3642353010, 9783642353017

More Books

Students also viewed these Accounting questions

Question

What are some global issues confronting women?

Answered: 1 week ago