need help solving

TVM Solver: NV=I%=PV=PMT=FV=PY=CY=PmtEnd 4. How much does Monica pay to the loan company during the 10 years under Option B? 5. If Monica rejects both Options A and B and decides to continue making her current monthly payments: a) How many months will it take to pay off each of the original loans? b) How much in total will she pay for each loan? Put your answers in column 6 in the table below along with the corresponding number of months that she has to pay each loan until it is paid off. What is the grand total amount paid on all three loans? Enter this number in the table also. 6. Develop a new realistic option for Monica that will meet her needs better than above options. Explain the advantages of your plan in comparison to the other plans. Chpter 6 What Is the Best Deal (... TVM Solver: N=1%=PV=PMT=FV=PY=CY=PmtEnd 4. How much does Monica pay to the loan company during the 10 years under Option B? 5. If Monica rejects both Options A and B and decides to continue making her current monthly payments: a) How many months will it take to pay off each of the original loans? b) How much in total will she pay for each loan? Put your answers in column 6 in the table below along with the corresponding number of months that she has to pay each loan until it is paid off. What is the grand total amount paid on all three loans? Enter this number in the table also. 6. Develop a new realistic option for Monica that will meet her needs better than above options. Explain the advantages of your plan in comparison to the other plans. Option A: A $25,000 bome equity line of credit based on "7.8\% APR annualized over a 10 year term. The loan is amortized at 7.8% with montly payments of $162.50. This reduces her monthly payments by $359.27. Option B: A 525,000 bome equity loan based on 77.8% APR. amortized over a 10 year term with monthly payments of 5300.68. This reduces her monthly payments by only $221.09. 1. Under option A: After ten years of making monthly payments of $162.50 at 7.8% compounded mionthly at the end of each compounding period, will the FV be zero? Use the TVM Solver to calculate the FV. Round the answer to the nearest cent. TVM Solver: N=I%=PV=PMT=FV=PY=CY= Pmt End What kind of loan is Option A? 2. How much does Monica pay to the loan company during the 10 years under Option A? 3. Under option B: After ten years of making the monthly payments of $300.68 at 7.8% compounded monthly at the end of each compounding period, find the FV ? Use the TVM Solver to calculate the FV. Round the answer to the nearest cent. TVM Solver: N=I%=PV=PMT=FV=PY=CY=PmiEnd 4. How much does Monica pay to the loan company during the 10 years under Option B? deal? Name Loan companies offer a variety of options for consolidating debt. This assignment gives you an opportunity to study two offerings. The problem: Monica's current debt consists of three types of loans: a bank card, an auto loan and a department store card. She owes a total of $25,000 and her monthly payments sum to \$521.77. The amount she owes, the monthly payment and the interest rates appear in the table below: Monica is having a hard time meeting the monthly payments and is considering consolidating the three loans to reduce her total monthly payments. She has been offered two options. In both cases, she would borrow $25,000 to pay off her existing three loans leaving her with a single loan payment to a loan company. Option A: A $25,000 home equity line of credit based on "7.8% APR annualized over a 10 year term. The loan is amortized at 7.8% with monthly payments of $162.50. This reduces her monthly payments by $359.27. Option B: A $25,000 home equity loan based on "7.8\% APR amortized over a 10 year term with monthly payments of $300.68. This reduces her monthly payments by only $221.09. 1. Under option A: After ten years of making monthly payments of $162.50 at 7.8% compounded monthly at the end of each compounding period, will the FV be zero? Use the TVM Solver to calculate the FV. Round the answer to the nearest cent. TVM Solver: NV=I%=PV=PMT=FV=PY=CY=PmtEnd 4. How much does Monica pay to the loan company during the 10 years under Option B? 5. If Monica rejects both Options A and B and decides to continue making her current monthly payments: a) How many months will it take to pay off each of the original loans? b) How much in total will she pay for each loan? Put your answers in column 6 in the table below along with the corresponding number of months that she has to pay each loan until it is paid off. What is the grand total amount paid on all three loans? Enter this number in the table also. 6. Develop a new realistic option for Monica that will meet her needs better than above options. Explain the advantages of your plan in comparison to the other plans. Chpter 6 What Is the Best Deal (... TVM Solver: N=1%=PV=PMT=FV=PY=CY=PmtEnd 4. How much does Monica pay to the loan company during the 10 years under Option B? 5. If Monica rejects both Options A and B and decides to continue making her current monthly payments: a) How many months will it take to pay off each of the original loans? b) How much in total will she pay for each loan? Put your answers in column 6 in the table below along with the corresponding number of months that she has to pay each loan until it is paid off. What is the grand total amount paid on all three loans? Enter this number in the table also. 6. Develop a new realistic option for Monica that will meet her needs better than above options. Explain the advantages of your plan in comparison to the other plans. Option A: A $25,000 bome equity line of credit based on "7.8\% APR annualized over a 10 year term. The loan is amortized at 7.8% with montly payments of $162.50. This reduces her monthly payments by $359.27. Option B: A 525,000 bome equity loan based on 77.8% APR. amortized over a 10 year term with monthly payments of 5300.68. This reduces her monthly payments by only $221.09. 1. Under option A: After ten years of making monthly payments of $162.50 at 7.8% compounded mionthly at the end of each compounding period, will the FV be zero? Use the TVM Solver to calculate the FV. Round the answer to the nearest cent. TVM Solver: N=I%=PV=PMT=FV=PY=CY= Pmt End What kind of loan is Option A? 2. How much does Monica pay to the loan company during the 10 years under Option A? 3. Under option B: After ten years of making the monthly payments of $300.68 at 7.8% compounded monthly at the end of each compounding period, find the FV ? Use the TVM Solver to calculate the FV. Round the answer to the nearest cent. TVM Solver: N=I%=PV=PMT=FV=PY=CY=PmiEnd 4. How much does Monica pay to the loan company during the 10 years under Option B? deal? Name Loan companies offer a variety of options for consolidating debt. This assignment gives you an opportunity to study two offerings. The problem: Monica's current debt consists of three types of loans: a bank card, an auto loan and a department store card. She owes a total of $25,000 and her monthly payments sum to \$521.77. The amount she owes, the monthly payment and the interest rates appear in the table below: Monica is having a hard time meeting the monthly payments and is considering consolidating the three loans to reduce her total monthly payments. She has been offered two options. In both cases, she would borrow $25,000 to pay off her existing three loans leaving her with a single loan payment to a loan company. Option A: A $25,000 home equity line of credit based on "7.8% APR annualized over a 10 year term. The loan is amortized at 7.8% with monthly payments of $162.50. This reduces her monthly payments by $359.27. Option B: A $25,000 home equity loan based on "7.8\% APR amortized over a 10 year term with monthly payments of $300.68. This reduces her monthly payments by only $221.09. 1. Under option A: After ten years of making monthly payments of $162.50 at 7.8% compounded monthly at the end of each compounding period, will the FV be zero? Use the TVM Solver to calculate the FV. Round the answer to the nearest cent