Problem #7: A financier has made a loan of $15 million. The contract for the loan calls for payment of interest quarterly at a nominal annual rate of 8.7%, until the full principal is repaid in one lump sum at the end of 15 years. After 3 years have gone by, immediately after the quarterly payment, the financier decides to sell the asset to an investor. If the investor values these cash flows with a nominal annual rate of 7.7% when compounded quarterly, what value would the investor consider the remaining loan contract to be worth?

After 25 years, your savings account has now grown to $16,200 and has an interest of 6.1% that compounds continuously. How much did you deposit at the beginning of the account

the price of a stock drops $3 each day for 7 days. The stock was worth $50 before the price began dropping. What is the price of the stock after the price dropped in price.

I painted a picture that is 4 inches longer than it is wide. If I put a I-inch frame around my picture, the area increases by 48 square inches. What are the dimensions of my picture?