Equal end of year payments of $263.80 each are being made on a $1,000 loan at 15% per year compounded monthly. a. How many payments are required to repay the entire loan? Answer is Blank 1payments b. Immediately after the third payment, what lump sum amount would completely pay off the loan? Answer is $Blank 2 ROUND OFF INTEREST RATE TO 5 SIGNIFICANT PLACES AND YOUR FINAL ANSWER TO 2 DECIMAL PLACES Blank 1 Add your answer Blank 2 Add your answer FROM QUESTION 3: INCLUDE THE CASH FLOW DIAGRAM OF THIS PROBLEM AND ROUND OFF INTEREST RATE TO 5 SIGNIFICANT PLACES AND YOUR FINAL ANSWER TO 2 DECIMAL PLACES.

10. A man borrowed P180,000 from a lending firm for 6 years at 9% compounded quarterly. At the end of 6 years, it renews the loan for the amount due plus P80,000 more for 6 years at 4 % compounded monthly. Determine the value of money at the end of the extended period? Show the Cash Flow Diagram. State your reference period in the solution as reflected in the diagram. Note: Use only two decimal places for the final answer and four decimal places for the solutions. Answer the problem with the given Format: Given, Required, Solution, Answer. Thank you!

Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $80,000 in a fund paying 3% per year, with monthly payments for 10 years PMT = $ Need Help? Watch It Read It

“A company borrowed $100000 from a bank at an interest rate of 10% compounded monthly. The loan will be repaid in 36 equal monthly installments over three years. What is the amount of this monthly installment payment?”

On Juan's twenty-sixth birthday, he invested $7,500 in a retirement account. Each year thereafter, he deposited 8 percent more than the previous deposit. The account paid annual compound interest of 5 percent. If Juan decided to wait 8 years before investing for retirement, how much would he have to invest at Round entry that time to have the same account balance on his sixtieth birthday? $ to the nearest dollar.

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Suppose you borrow $5,000 at 7.25% interest for 14 months.  What is the maturity value?

2.5 To purchase a new truck, you borrow $42,000. The bank offers an interest rate of 7.5% compounded monthly. If you take a 5-year loan and you will be making monthly payments, what is the total amount that must be paid back? a. What is the number of time periods (n) you should use in solving this problem? b. What rate of interest (i), per period of time, should be used in solving this problem?

Q3

Answer was not A or D