8. A borrower had a loan of 30,000 at 4% compounded annually with 15 annual...
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8. A borrower had a loan of 30,000 at 4% compounded annually with 15 annual payments. Suppose the borrower paid off the loan after 4 years. Calculate the amount needed to pay off the loan. The amount needed to pay off this loan after 4 years is $
4. Find the present value of an ordinary annuity with payments of $12,405
semiannually for 8 years at 11.6% compounded semiannually.
What is the present value?
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