Write the Formula for the equation for the payment on the Loans (you do NOT need to evaluate) (a) 30 year house loan where you borrow $125,000 at 4.2% interest with monthly payments. (b) 20 year house loan where you borrow $125,000 at 4.2% interest with monthly payments (c) A company borrows $12,000,000 at 2.8% with quarter payments over 10 years. (d) You buy a new car at $15,000 that you make a $1,500 down payment. You finance the rest at 3.6% interest with monthly payments over 4 years.
Write the Formula for the equation for the payment on the Loans (you do NOT need to evaluate) (a) 30 year house loan where you borrow $125,000 at 4.2% interest with monthly payments. (b) 20 year house loan where you borrow $125,000 at 4.2% interest with monthly payments (c) A company borrows $12,000,000 at 2.8% with quarter payments over 10 years. (d) You buy a new car at $15,000 that you make a $1,500 down payment. You finance the rest at 3.6% interest with monthly payments over 4 years.
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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