A loan for $53,000 is made for 10 years at 8 percent interest and no...
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Accounting
A loan for $53,000 is made for 10 years at 8 percent interest and no monthly payments will be due (assuming monthly compounding).
Required:
a. How much will be due at the end of 10 years?
b. What will be the yield to the lender if it is repaid after eight years?
c. If 4 point is charged to the yield, what will be the new yield to the lender?
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