Kim took out a $15000 loan to start a new business. She can get the loan...

 

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Kim took out a $15000 loan to start a new business. She can get the loan as an unsecured line of credit at an annual rate of 8.05% compounded daily. If she can afford to pay back $500 per month, how long will it take her to pay back the loan? Fill in all the appropriate inputs in the TVM Finance solver. N = 1% = PV = PMT= FV = P/Y = C/Y = Compare the total cost of a $60000 loan at an annual rate of 5.05% if payments were made bi-weekly as opposed to monthly. The loan was to be paid back over 10 years and was compounded semi-annually. Bi-weekly Monthly N = 1% = PV = PMT= FV = P/Y = C/Y = N = 1% = PV = PMT= FV = 3. P/Y = C/Y = 4. Kim took out a $15000 loan to start a new business. She can get the loan as an unsecured line of credit at an annual rate of 8.05% compounded daily. If she can afford to pay back $500 per month, how long will it take her to pay back the loan? Fill in all the appropriate inputs in the TVM Finance solver. N = 1% = PV = PMT= FV = P/Y = C/Y = Compare the total cost of a $60000 loan at an annual rate of 5.05% if payments were made bi-weekly as opposed to monthly. The loan was to be paid back over 10 years and was compounded semi-annually. Bi-weekly Monthly N = 1% = PV = PMT= FV = P/Y = C/Y = N = 1% = PV = PMT= FV = 3. P/Y = C/Y = 4.

Answer rating: 100% (QA)

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