Answered step by step
Verified Expert Solution
Question
1 Approved Answer
What is the total future value three years from now of 580 received in one year, 5300 received in two years, and $700 received in
What is the total future value three years from now of 580 received in one year, 5300 received in two years, and $700 received in three years if the interest rate is 5% per year? $1.108.21 O $1.107.89 $1.10436 O $1.103.20 QUESTION 9 What is the total present value of $80 received in one year, 5300 received in two years, and $700 received in three years if the interest rate is 5% per year? 5952.99 5930 20 59238 5939.35 If the interest rate is 5%, then you should be indifferent between receiving $100 today and $105.00 in one year $100.00 in one year 595.24 in one year $95.00 in one year QUESTION 11 Your home mortgage loan has an initial balance of $400,000. The loan is to be paid off in exactly 30 years, with monthly payments of $2,000. What is the interest rate ( percentage rate, APR) on this loan? Hint: First, solve for the loan's monthly interest rate. Then, multiply this monthly interest rate by 12 to find the APR. 04.39% 8.769 6,00%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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