Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 09, 2024

This is an actuarial science question, A loan of 1500 is paid over 6 years at effective rate 7% with five payments of 300 and

This is an actuarial science question,

A loan of 1500 is paid over 6 years at effective rate 7% with five payments of 300 and a final bigger payment. Calculate the bigger payment.

At time t=2, an extra payment of 165.93 is made and the loan is refinanced at 10% with only 3 more level payments. Calculate the level payments.

The answer is 405.11 and 374.13

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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

The Investment Writing Handbook

Authors: Assaf Kedem

1st Edition

1119356725, 978-1119356721

More Books

Students also viewed these Finance questions

Question

★★★★★

Credit card companies sometimes provide their customers with a year-end summary. The year-end summary provides a comprehensive, easy-to-read report summarizing the transactions into a several...

Answered: 1 week ago

Question

★★★★★

on January 4, 2019 Columbus company purchase new equipment for $590,000 that had a useful life of four years and a salvage value of $58,000 required: prepare schedule showing the annual depreciation...

Answered: 1 week ago

Question

★★★★★

67. a. Let a and b be constants and let yi axi b for i 1, 2, . . . , n. What are the relationships between and and between sx 2 and s y 2? b. The Australian army studied the effect of high...

Answered: 1 week ago

Question

★★★★★

The financial statements of Marks and Spencer plc (M&S) are available at the books companion website or can be accessed at corporate.marksandspencer....

Answered: 1 week ago

Question

★★★★★

This has to be done in LC-3 The assignment can be broken down into the following tasks: 1. Your main code block should call a MENU subroutine, which prints out a fancy looking menu with numerical...

Answered: 1 week ago

Question

★★★★★

Question2 (a) Mr. White wants to buy a house at the price of $4,000,000 which will be settled by monthly regular payments of $12,000 at the end of each month for as long as necessary, if a balloon...

Answered: 1 week ago

Question

★★★★★

Case Study Jean Davis is a 19-year-old woman who is experiencing difficulties in college. She moved out of the dorm because she thought other students were out to ruin her life. Her former roommate...

Answered: 1 week ago

Question

★★★★★

1. Main Entry: Within the body of post, clearly identify each segment of the required response in order to facilitate discussion development. a. Early impressions: Another UMGC Psychology student...

Answered: 1 week ago

Question

★★★★★

A Rhodamine dye solution was discharged in a river section at a constant rate. Estimate the discharge if the dye is found to reach an equilibrium of 5 parts per billion (ppb). Given: Amount of...

Answered: 1 week ago

Question

★★★★★

In first-order predicate logic, what is a Herbrand theorem? Question 4Answer a. A statement that is provable from the axioms of first-order predicate logic b. A statement that is true in some...

Answered: 1 week ago

Question

★★★★★

Which distribution is similar to the shape of a survival function, which is often used in engineering to indicate the time it takes an object to fail? Which distribution is similar to the shape of a...

Answered: 1 week ago

Question

★★★★★

(Appendices) Medicaid is a major public assistance program that provides health care to certain low-income individuals and families. Answer the following questions with respect to current Medicaid...

Answered: 1 week ago

Question

★★★★★

(Appendices) Although eligibility requirements for unemployment compensation vary among the states, there are a number of common eligibility requirements. Assume that a worker meets the qualifying...

Answered: 1 week ago

Question

★★★★★

(Appendices) State and local governments typically provide defined-benefit retirement plans to eligible employees. Defined-benefit pension plans have certain common Features. LO6 a. Briefly describe...

Answered: 1 week ago

Previous Question Next Question