Question
What is the present value of a security that will pay $44,000 in 20 years if securities of equal risk pay 12% annually? Do not
What is the present value of a security that will pay $44,000 in 20 years if securities of equal risk pay 12% annually? Do not round intermediate calculations. Round your answer to the nearest cent.
$ -4561.34
2)You need $11,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized loan. He would like you to make annual payments for 6 years, with the first payment to be made one year from today. He requires a 9% annual return.
- What will be your annual loan payments? Do not round intermediate calculations. Round your answer to the nearest cent.
$
- How much of your first payment will be applied to interest and to principal repayment? Do not round intermediate calculations. Round your answers to the nearest cent.
Interest: $
Principal repayment: $
3)You borrow $85,000; the annual loan payments are $4,336.64 for 30 years. What interest rate are you being charged? Round your answer to the nearest whole number.
what I put in is wrong
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