Question: please correct wrong answers 3. You have signed a contract to borrow $75,000. The length of the contract is 20 years and payments are required

please correct wrong answers 3. You have signed a contract to borrow please correct wrong answers

3. You have signed a contract to borrow $75,000. The length of the contract is 20 years and payments are required each month. The annual rate of interest is 12%. (a) Calculate the required monthly payments required by this loan. 75,000 20 1062.50 per month .12 (b) Apply the financial function command (with each numerical value reported in correct sequence) that would solve this problem. = PMI (.D2, 20,-75000,0) 4. An investor deposits $50,000 into a bank certificate of deposit. The account matures in 5 years and earns 8% per year, compounded quarterly. (a) Calculate the value of this account in 5 years. 50,000 10000 yrs .08 (b) Apply the financial function command (with each numerical value reported in correct sequence) that would solve this problem. =FV(,08%, -50000,0,0)

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