A debt of $52000 with interest at 9.6% compounded quarterly is to be repaid by equal payments at the end of every three months for five years. Calculate the size of the payments, total amount paid and cost of financing. PV=$ IY= C/Y= |= n=

A debt of $52000 with interest at 9.6% compounded quarterly is to be repaid by equal payments at the end of every three months for five years. Calculate the size of the payments, total amount paid and cost of financing. PV=$ IY= C/Y= |= n=

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 15P

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Question

A debt of $52000 with interest at 9.6% compounded quarterly is to be repaid by equal payments at the end of every three months for five years. Calculate the size of the monthly
payments,total amount paid and cost of financing.
PV =$
I/Y=
C/Y=
i=
n =
PMT=$
AMOUNT PAID =$
COST OF FINANCING=$
2 d.p.
2 d.p.
2 d.p.

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