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Present Value Calculations should be derived using at least 4 decimal points. Quinn is paying back a loan he took out to buy a house
Present Value
Calculations should be derived using at least 4 decimal points.
- Quinn is paying back a loan he took out to buy a house with monthly payments of $1000. If the loan he took out to buy the house is repaid in 20 years with an annual interest rate of 5% compounded monthly, how much did this house cost if he did not have to make any down payment?
- Tim plans to pay back a student loan of $30,000 in 10 years by making monthly payments. How much are Tim's monthly payments if the annual interest rate is 6% compounded monthly?
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Finance At The Threshold
Authors: Christopher Houghton Budd
1st Edition
0566092115, 978-0566092114
