You are considering taking out a loan of S6,000.00 that will be paid back over 11 years with quarterlypayments of $185.41. If the interest rate is 5.8% compounded quarterly, what would the unpaid balance beimmediately after the ninth payment?The unpaid balance would be S(Round to 2 decimal places.) A young executive is going to purchase a vacation property for investment purposes. She needs to borrowS85,000.00 for 26 years at 5.9% compounded monthly, and will make monthly payments of $533.39. (Roundall answers to 2 decimal places.)What is the unpaid balance after 10 months? SDuring this time period, how much interest did she pay? S

Loan amount (L) = $6000 Quarterly payment (Q) = $185.41 r = 5.8% per annum = 1.45% per quarter

You are considering taking out a loan of $6,000.00 that will be paid back over 11 years with quarterly payments of $185.41. If the interest rate is 5.8% compounded quarterly, what would the unpaid balance be immediately after the ninth payment? The unpaid balance would be S (Round to 2 decimal places.)

You are considering taking out a loan of $6,000.00 that will be paid back over 11 years with quarterly payments of $185.41. If the interest rate is 5.8% compounded quarterly, what would the unpaid balance be immediately after the ninth payment? The unpaid balance would be S (Round to 2 decimal places.)

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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