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Please show formulas: Q1) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $28,335 with
Please show formulas:
Q1) Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $28,335 with an annual interest rate of 08.00%. The loan will be repaid over 27 years with monthly payments. a) What is the Loan Payment? |
b) What portion of this payment is Interest? |
c) What portion of this payment is Principal? |
d) What is the Loan balance after first monthly payment? |
Q2) What is the most you would be willing to pay for a investment that will pay you $127 in one year, $341, in two years, and $274 in three years, if your required rate of return for this type of investment is 17.00% ? |
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