Question: A loan for $ 5 5 , 0 0 0 is made for 1 0 years at 7 percent interest and no monthly payments will

A loan for $55,000 is made for 10 years at 7 percent interest and no monthly payments will be due (assuming monthly compounding).
Please answer the following:
a. How much will be due at the end of 10 years?
b. What will be the yield to the lender if it is repaid after eight years?
c. If 2 point is charged to the yield, what will be the new yield to the lender?

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