Today you borrow $10,600 to pay for your expected college costs over the next 4 years, including a master's degree. 2 years from now, you determine that you need an additional $4,100 so you borrow this additional amount. Starting 4 years from the original loan (2 years from the 2nd loan), you begin to repay your combined debt by making annual payments of $2,700. You will make these payments for 10 years. Draw a cash flow diagram of this situation from your perspective. The cash flow diagram can be first represented by end of year cash flows, Aj, for years. j - 0,1,2,...13. If there is no amount for a box enter O. All boxes must be filled. If entering a negative number use negative (-) sign preceding the number.

Today you borrow $10,600 to pay for your expected college costs over the next 4 years, including a master's degree. 2 years from now, you determine that you need an additional $4,100 so you borrow this additional amount. Starting 4 years from the original loan (2 years from the 2nd loan), you begin to repay your combined debt by making annual payments of $2,700. You will make these payments for 10 years. Draw a cash flow diagram of this situation from your perspective. The cash flow diagram can be first represented by end of year cash flows, Aj, for years. j - 0,1,2,...13. If there is no amount for a box enter O. All boxes must be filled. If entering a negative number use negative (-) sign preceding the number.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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