3) What payment is required at the end of each month for 3 years to repay...

3) What payment is required at the end of each month for 3 years to repay a loan of $8000.00 at 6.4% compounded monthly?

Expert Solution

Colby Messinger answered 2 years ago

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Equal annual instalments required to repay a loan in 3 years.

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A company must repay the bank a single payment of $30,000 cash in 3 years for...

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A young executive deposits $100 at the end of each month for 5 years into an...

A young executive deposits $100 at the end of each month for 5 years into an account that earns 6% compounded monthly. How much is in the account after the 5 years? (Round your answer to the nearest cent). $ The executive then changes the deposits in order to have a total of $400,000 after 25 total years. What should be the revised monthly payment in order to meet the $400,000 goal? (Round your answer to the nearest cent). $ ...

An individual is 48 years old. At the end of each month, hedeposits $300 in...

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A young executive deposits $300 at the end of each month for 6 years into an...

A young executive deposits $300 at the end of each month for 6 years into an account that earns 6% compounded monthly. How much is in the account after the 6 years? (Round your answer to the nearest cent). $ The executive then changes the deposits in order to have a total of $400,000 after 25 total years. What should be the revised monthly payment in order to meet the $400,000 goal? (Round your answer to the nearest cent). $...

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