This topic contains a solution. Click here to go to the answer

Author Question: You plan to borrow $80,000 at a6.5% annual interest rate. The terms require you to amortize the loan ... (Read 4 times)

rubiosusy7

  • Full Member
  • ***
  • Posts: 152

Question 1

You plan to borrow $24,000 at a 7.5% annual interest rate. The terms require you to amortize the loan withfiveequal end-of-year payments. How much interest would you be paying in Year 2?

$1,347.79


$1,380.30


$1,416.11


$1,490.10



Question 2

You plan to borrow $80,000 at a6.5% annual interest rate. The terms require you to amortize the loan with12equal end-of-year payments. How much interest would you be paying in Year 2?

$4,895.19


$4,900.65


$5,037.04


$5,104.52



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by rubiosusy7 on Aug 7, 2023

bball_babe_123

  • Full Member
  • ***
  • Posts: 178
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 55% of students answer this correctly




rubiosusy7

  • Member
  • Posts: 152
Reply 2 on: Aug 7, 2023
Excellent


amandalm

  • Member
  • Posts: 306
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

For a complete list of videos, visit our video library