Question
Q1A. A loan of 391,000 is going to be repaid by month-end repayments of 4,000 starting in one month. The interest rate is 4.6% p.a.
Q1A.
A loan of 391,000 is going to be repaid by month-end repayments of 4,000 starting in one month. The interest rate is 4.6% p.a. compounded monthly. Calculate the loan outstanding balance at the end of year 2. Correct your answer to the nearest cent without any units.
Q1B.
A loan is to be repaid over 30 years, with month-end repayments of 6,000. If the interest rate is 4.9% p.a. compounded monthly. Calculate the loan outstanding balance at the end of 10 years. Correct your answer to the nearest cent without any units.
Q1C.
A loan is to be repaid over 30 years, with month-end repayments of 3,000. If the interest rate is 5.1% p.a. compounded monthly. Calculate the principal paid for year 10. Correct your answer to the nearest cent without any units.
Q1D.
A loan is to be repaid over 30 years, with month-end repayments of 7,000. If the interest rate is 4.5% p.a. compounded monthly. Calculate the interest paid for year 10. Correct your answer to the nearest cent without any units.
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Fundamentals Of Futures And Options Markets
Authors: John C. Hull
7th Edition
0136103227, 9780136103226
