Question 10.5 pts

Javier can afford a mortgage payment of $1,250 per month. If he gets a 30 year mortgage at 3.50%, how much can he borrow?

Group of answer choices

$278,368.73

$794,265.93

$450,000.00

$438.09

Flag question: Question 2Question 20.5 pts

PMT = $5,000 per year for 10 years. At a rate of 7.00% per year, how much is the PV of the payments?

Group of answer choices

$50,000.00

$35,117.91

$24,342.09

$69,082.24

Flag question: Question 3Question 30.5 pts

Jimmy has a business that generates $100,000 per year in income. Tom wants to buy the business from Jimmy. Assuming a 5 year valuation period, and a discount rate of 7.5% per year, how much is Jimmy's business worth today?

Group of answer choices

$580,839.10

$612,892.08

404,588.49

$69,655.86

Flag question: Question 4Question 40.5 pts

Jackson is paying $1,250 every month on his house loan. If the loan lasts 32 years and has a 2.75% interest rate, how much was the original loan amount?

Group of answer choices

$46,842.16

$768,258.35

$318,981.42

$524.68

Flag question: Question 5Question 50.5 pts

What is the PV of a $400 monthly annuity if it's in an account that makes 7% for 13 years? Assume that compounding and payments have the same frequency.

Group of answer choices

$62,400.00

$101,332.32

$41,058.13

$40,896.70

Flag question: Question 6Question 60.5 pts

Heather is receiving $175 every month for some money she loaned out. If the loan lasts 3 years and has a 7.5% interest rate, how much was the original loan amount?

Group of answer choices

$140.87

$5,625,88

$7,040.49

$14,088.17

Flag question: Question 7Question 70.5 pts

Charlie is receiving $15 every month for some money he loaned to a friend. If the loan lasts 1 year and has an 9% interest rate, how much was the original loan amount?

Group of answer choices

$187.61

$1,548.62

$171.52

$13.76

Flag question: Question 8Question 80.5 pts

What is the PV of a $500 monthly annuity if it's in an account that makes 6% for 16 years? Assume that compounding and payments have the same frequency.

Group of answer choices

$61,810.92

$160,545.67

$61,619.01

$96,000.00

Flag question: Question 9Question 90.5 pts

What is the PV of a $350 quarterly annuity if it's in an account that makes 11.5% for 17 years? Assume that compounding and payments have the same frequency.

Group of answer choices

$10,453.27

$10,402.33

$23,800.00

$71,482.62

Flag question: Question 10Question 100.5 pts

Andy is paying $625 every month on his business loan. If the loan lasts 6 years and has a 8% interest rate, how much was the original loan amount?

Group of answer choices

$45,000.00

$393.86

$5,515.83

$35,646.58