Question: Both 1 and 2 Given the following data for Mr. Card: Calculate total amount of the loan needed today to pay-off the credit cards? If

Both 1 and 2 Both 1 and 2 Given the following data for Mr. Card:

Given the following data for Mr. Card: Calculate total amount of the loan needed today to pay-off the credit cards? If a credit union is willing to offer the loan to pay-off all credit cards at 13.2 % (APR) for ten, the monthly payment on such a loan? (Assume monthly compounding) What is the monthly savings achieved by taking the loan? The following end of the year cash flows are given for the two projects X and Y. Calculate the Present Value for each project using a discount rate of 11%. If the initial investment needed for both Project X and Project Y is $20,000; which project/projects would you accept

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