You want to buy a new boat for $69500. The bank accepted to offer you a loan with APR of 8.6%. The payments will be made monthly for 5 years.
i. What will be the monthly payments?
ii. Calculate the EAR

8. XYZ corporation has 9 percent coupon rate. It has 8 years to maturity. It makes annual payments and have a par value of $1000. If the YTM on these bonds is 7% what is the bond’s price?

Answer rating: 100% (QA)

i Monthly Payments for Boat Loan To calculate the monthly payments for the boat loan we can use the ... View the full answer