Question: Please provide the excel too! You borrowed $20,000 from a bank at 7.3 percent interest, compounded annually. This loan will 3be repaid over 8 years.
Please provide the excel too! You borrowed $20,000 from a bank at 7.3 percent interest, compounded annually. This loan will 3be repaid over 8 years. What is your total interest paid in year 2? Selected Answer 9.71 Correct Answer: 1,319.23 1 Question 2 0 out of 1 points For the next decade, you plan to save $100 per month. In years 11-15, you plan to save $200 per month. In years 16-22, you plan to save $300 per month. Assuming a 12% annual interest rate, what is your ending balance? Selected Answer Correct Answer: None Given] 17327991 Question 3 0 out of 1 points Yoi borrowed $22,019 from a bank at 4 percent interest, compounded monthly. This loan will be repaid over 80 months. What is your total interest paid? Selected Answer: 6,726.37 Correct Answer: 0310266 1 Question 4 0 out of 1 points Your original plan was: per monta npeane 102 you plan to sletmnve For the next decade, you plan to save $100 per month. In years 11-15, you plan to save $200 per month. In years 16-29, you plan to save $300 per month. to save $200 But now you've decided, you'd just prefer to set aside a lump sum today. What is that lump sum, assuming a 12% interest rate and monthly compounding in both scenanos? Selected Answer: None Given] Correct Answer 13,757.45 + 1
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
