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please answer, its due in few minutes Lucas Luoma borrowed $31,000 to start a new business. The lender has agreed to a grace period and
please answer, its due in few minutes
Lucas Luoma borrowed $31,000 to start a new business. The lender has agreed to a grace period and will carry the debt for five years at 6 percent interest with no payments required (the loan will still accrue interest). Once the grace period has expired, Lucas will pay off the loan over the next 13 years at 9 percent interest. What will his annual payment be? (Use o Financial colculator/Excel to orrive at the onswer. Do not round intermediate calculations. Round the finel answer to nearest whole dollar.) Annual payment Bill Bailey would like to purchase bonds from DON Corporation. The $1,000 bonds have a quoted annual interest rate of 10 percent, and the interest is paid semiannually. The yield to maturity on the bonds is 14 percent annually. There are 20 years to maturity. Compute the price of the bonds. (Use a Financial calculator or Excel to arrive at the answers. Do not round intermediate coleulation. Round the final answer to 2 decimal places. Omit 5 sign in your response.) Price of the bonds Step by Step Solution
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