Please Answer All questions: 1)A loan of 145,000 is going to be...
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Please Answer All questions:
1)A loan of 145,000 is going to be repaid by month-end repayments of 3,000 starting in one month. The interest rate is 5.4% p.a. compounded monthly. Calculate the loan outstanding balance at the end of year 2. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
2)A loan is to be repaid over 30 years, with month-end repayments of 6,000. If the interest rate is 3.3% p.a. compounded monthly. Calculate the loan outstanding balance at the end of 10 years. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
3)A loan is to be repaid over 30 years, with month-end repayments of 4,000. If the interest rate is 6.7% p.a. compounded monthly. Calculate the principal paid for year 10. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
4)A loan is to be repaid over 30 years, with month-end repayments of 9,000. If the interest rate is 3.8% p.a. compounded monthly. Calculate the interest paid for year 10. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
18)A trust fund pays $40,000 each year-end in perpetuity. If the trust earns 12.0% per annum, compounding annually, the value of the trust fund today is closest to (to the nearest whole dollar; dont use the $ sign or comma separators):
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