Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q3 40 A- If you pay 91.7 $ every month for 12 month to repay a loan, compute the nominal interest rate you paid? B-

image text in transcribed

Q3 40 A- If you pay 91.7 $ every month for 12 month to repay a loan, compute the nominal interest rate you paid? B- If you put 10000$ in a bank and you want to have 30000$ after the four year how much you should save each year if the interest rate was 12% for the 10000 and the mney you saved every year C- Sara make investment of $10,000 in a savings account 10 years ago. This account paid interest of 51/2% for the first 4 years and 61/2% interest for the remaining 6 years. The interest charges were compounded quarterly. How much is this investment worth now? D- A debt of $5000 can be repaid, with interest at 8%, by the following payments. Payment 1 $ 500 2 2000 3 1500 2000 Year 4 The payment at the end of the fifth year is shown as X. How much is X? Q3 40 A- If you pay 91.7 $ every month for 12 month to repay a loan, compute the nominal interest rate you paid? B- If you put 10000$ in a bank and you want to have 30000$ after the four year how much you should save each year if the interest rate was 12% for the 10000 and the mney you saved every year C- Sara make investment of $10,000 in a savings account 10 years ago. This account paid interest of 51/2% for the first 4 years and 61/2% interest for the remaining 6 years. The interest charges were compounded quarterly. How much is this investment worth now? D- A debt of $5000 can be repaid, with interest at 8%, by the following payments. Payment 1 $ 500 2 2000 3 1500 2000 Year 4 The payment at the end of the fifth year is shown as X. How much is X

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Distress A Study Of The Italian Manufacturing Industry

Authors: Matteo Pozzoli , Francesco Paolone

1st Edition

3319673548,3319673556

More Books

Students also viewed these Finance questions