Question: Hi there, can i get help solving those three Qs. Please! first question (a)If you borrow $1,000 and agree to repay the loan in five

Hi there, can i get help solving those three Qs. Please!

first question

(a)If you borrow $1,000 and agree to repay the loan in five equal payments at an interest rate of 12%, what will your payment be?

(b)If you make the first payment on the loan immediately instead of at the end of the first year, what is your payment?

Second.

Suppose that a house costs $150,000 and that the buyer puts down 25% of the purchase price in cash, borrowing the remaining amount from a mortgage lender such as a bank. What is the appropriate monthly mortgage payment if the interest rate is 1% a month?

Third.

(a)You are purchasing a car. You are scheduled to make an annual payment of $100 in the 1st year and thereafter forever at a growth rate of 9% every year. Given a rate of interest of 10%, what should be the price you need to pay for the car?

(b)For the same car, let's assume you are scheduled to make three annual installments - the first payment of $4,000 starting one year from now and will grow at a rate of 5% every year thereafter. Given a rate of interest of 10%, what should be the price you need to pay for the car?

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