Give me answer within an hour please I will give you upvotes ita very urgent ....thanku.... A borrower had a loan of $90,000 at 4%compounded annually with 9 annual payments.Suppose the borrower paid off the loan after 5years. Calculate the amount needed to pay offthe loan. How can I figure this out using the TMSolver program?

Loan Borrowed $ 90,000 Rate of Interest 4% Term 9 years

Answered: ompounded annually with 9 annual paymen…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 14P

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Similar questions

Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the debt in 3 annual installments at the end of each year, which would include interest at 14%. Draw a time line for the problem. Indicate what table to use. Look up the table value and place it in a brief formula. Solve.
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Calculating and comparing add-on and simple interest loans. Eli Nelson is borrowing 10,000 for five years at 7 percent. Payments, which are made on a monthly basis, are determined using the add-on method. a. How much total interest will Eli pay on the loan if it is held for the full five-year term? b. What are Elis monthly payments? c. How much higher are the monthly payments under the add-on method than under the simple interest method?

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ompounded annually with 9 annual paymen uppose the borrower paid off the loan after 5 ears. Calculate the amount needed to pay of e loan How can I figu ure this Out usin g the T