Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you have a loan outstanding. it requires making fo

You have a loan outstanding. It requires making four annual payments of $8,000 each at...

50.1K

Verified Solution

Question

Accounting

You have a loan outstanding. It requires making four annual payments of $8,000 each at the end of the next four years. Your bank has offered to restructure the loan so that instead of making the four payments as originally agreed, you will make only one final payment in four years. If the interest rate on the loan is 1 %, what final payment will the bank require you to make so that it is indifferent to the two forms of payment?

final payment__________

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Algebra
1.2K views

12 EVALUATE AT X 3 ANSWERS SHOULD BE ROUNDED TO 3 DECIMAL PLACES g x...

Geometry
1.2K views

2 Multiple Choice The function g z x 1 2 2 is a transformation of...

Psychology
1.2K views

Research a developmental toy either online or by visiting a store. The toy must assist in...

Geometry
1.2K views

Identify the expressions equivalent to cos 46 given the triangle Please select two Show your...

Geometry
1.2K views

Which of the following shows a different way to tessellate the shape in the figure...

Basic Math
1.2K views

13. A cone with a radius of 6 meters has a volume of 542.87 m....

Algebra
1.2K views

e safe load L of a wooden beam supported at both ends varies jointly as...

Accounting
1.2K views

Moonrise Bakery applies factory overhead based on direct labor costs. The company incurred...

Accounting
1.2K views

Una empresa fabrica y vende un producto a 100 dlares la unidad. Los costos fijos...

Accounting
1.2K views

A company is thinking about dropping one of its product lines. The monthly income statement...

Accounting
1.2K views

You are currently the external audit manager at a client, Britestar Enterprises. The company employs...

Finance
1.2K views

We bought a 180-day commercial paper with a face value of $8000000 at 5.24% p.a....