Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose that in the loan described, the borrower made a larger payment, as indicated. Calculate (a) the time needed to loan, (b) the total amount

image text in transcribed
Suppose that in the loan described, the borrower made a larger payment, as indicated. Calculate (a) the time needed to loan, (b) the total amount of the payments, and (c) the amount of interest saved, compared with the original loan and p $140,000, 8% compounded quarterly: 15 quarterly payments, with larger payment of S13000. C) a)s quarters(D) a)12 A) (a) 13 quarters (b)$169,000 (c)$4295.93 B) (a) 12 quarters (b)$155,087.69 (c)S4140.93 b) $152326.14 (c) $11107.41 D (a) 12 quarters (b)$156,000 (c) $4237.93 Suppose that in the loan described, the borrower made a larger payment, as indicated. Calculate (a) the time needed to loan, (b) the total amount of the payments, and (c) the amount of interest saved, compared with the original loan and p $140,000, 8% compounded quarterly: 15 quarterly payments, with larger payment of S13000. C) a)s quarters(D) a)12 A) (a) 13 quarters (b)$169,000 (c)$4295.93 B) (a) 12 quarters (b)$155,087.69 (c)S4140.93 b) $152326.14 (c) $11107.41 D (a) 12 quarters (b)$156,000 (c) $4237.93

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Finance questions

Question

=+b) What do you conclude?

Answered: 1 week ago