Question: pls help and ANSWER ALL Lesson 1 - Future Value and Length of Loans a) You are borrowing money from a bank that calculates simple

pls help and ANSWER ALL pls help and ANSWER ALL Lesson 1 - Future Value and

Lesson 1 - Future Value and Length of Loans a) You are borrowing money from a bank that calculates simple interest paid daily at 3.2%. The loan is $5000 and you are paying it off in a lump sum at maturity date in 5 years. How much do you pay back at the end of the loan? How much was interest? b) You are borrowing money from a bank at a rate of 4.2%, compounded monthly. Your loan is $15000 and you will be paying it off in a lump sum in 8 years. How much did you pay the bank back? How much was interest? c) You have a loan of $5280 in the bank at a rate of 5.2% compounded monthly. You are making monthly payments of $200. Fill in the amortization table for you payments for the first three months. d) Using the above questions, calculate when the loan will be paid off using the financial calculator

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