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please answer all parts (Complex stream of cash flows) Roger Sterling has decided to buy an ad agency and is going to finance the purchase
please answer all parts
(Complex stream of cash flows) Roger Sterling has decided to buy an ad agency and is going to finance the purchase with seller financing that is a loan from the current owners of the agency. The loan will be for $2,300,000 financed at an APR of 6 percent compounded monthly. This loan will be paid off over 7 years with end-of-month payments, along with a $500,000 balloon payment m. the end of yom 7. That is, the $2.3 milion loan will be paid off with monthly payments, and there will also be a final payment of $500,000 at the end of the final month. How mwath win the morty payments ba? a. How much of the loan will be paid off by the final $500,000 payment? (Round to the nearest Cent) b. How much of the loan must be paid off by the equal motivy payments? Round to the rest cont.) (Complex stream of cash flows) Roger Sterling has decided to buy an ad agency and is goi agency. The loan will be for $2,300,000 financed at an APR of 6 percent compounded mont balloon payment at the end of year 7. That is, the $2.3 million loan will be paid off with monti much will the monthly payments be? b. How much of the loan must be paid off by the equal monthly payments? (Round to the nearest cent.) I c. How much will the monthly payments be? (Round to the nearest cent.) ami Nei Tra Enter your answer in each of the answer boxes. UT Save for Later Page 2 of 2 109 of 740 words English (United States 16 MacBook Pro Step by Step Solution
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