Question
In: Finance
Alysha would like to borrow $31,000 to pay one year’s tuition ata private U.S. university....
Alysha would like to borrow $31,000 to pay one year’s tuition at a private U.S. university. She would like to make quarterly payments and finish repaying the loan in 5 years. If the bank is quoting her a rate of 4 percent compounded monthly, determine her quarterly payment. (Round effective interest rate to 4 decimal places, e.g. 25.1253% and final answer to 2 decimal places, e.g. 125.12.)
Solutions
Expert Solution
Effective quarterly rate, r = (1 + 0.04/12)^4 - 1
r = 0.01340014827
Number of quarterly payments, n = 5 * 4 = 20
PV = 31,000
Quarterly payments = $1,777.27
jeff jeffy answered 2 years agoRelated Solutions
Alysha would like to borrow $31,000 to pay one year’s tuition ata private U.S. university....
Alysha would like to borrow $31,000 to pay one year’s tuition at
a private U.S. university. She would like to make quarterly
payments and finish repaying the loan in 5 years. If the bank is
quoting her a rate of 6 percent compounded monthly, determine her
quarterly payment.(Round effective interest rate to 4 decimal places,
e.g. 25.1253% and final answer to 2 decimal places, e.g.
125.12.)
Alysha would like to borrow $31,000 to pay one year’s tuition at a private U.S. university....
Alysha would like to borrow $31,000 to pay one year’s tuition at
a private U.S. university. She would like to make quarterly
payments and finish repaying the loan in 5 years. If the bank is
quoting her a rate of 4 percent compounded monthly, determine her
quarterly payment. (Round effective interest rate to 4
decimal places, e.g. 25.1253% and final answer to 2 decimal places,
e.g. 125.12.)
20. In the past 30 years, the price of tuition at a 4-year private university has...
20. In the past 30 years, the price of tuition at a 4-year
private university has increased at a fairly consistent 4% rate
above inflation (i.e., the price of tuition is rising faster than
the overall price level in the economy). During that same time
period, enrollment in 4-year private universities has increased as
well. Which of the following is consistent with being a primary
factor in the observed changes in prices (tuition) and quantities
(enrollment) at 4-year private universities....
Alysha, a retired librarian, would like to donate some money toher alma mater to endow...
Alysha, a retired librarian, would like to donate some money to
her alma mater to endow a $3,000 annual scholarship. The first
scholarship will be awarded in 5 years. The university will manage
the funds and expects to earn 3 percent per year.How much will Alysha have to donate so that the endowment fund
never runs out? (Round answer to 0 decimal places, e.g.
125. Do not round your intermediate
calculations.)
The university would like to conduct a study to estimate the true proportion of all university...
The university would like to conduct a study to estimate the
true proportion of all university students who have student loans.
According to the study, in a random sample of 215 university
students, 86 have student loans. (a) Construct a 95% confidence
interval for estimating the true proportion of all university
students who have student loans (b) Provide an
interpretation of the confidence interval in part (a). (1mark) (c)
Conduct an appropriate hypothesis test, at the 5% level of
significance...
The university would like to conduct a study to estimate the true proportion of all university...
The university would like to conduct a study to
estimate the true proportion of all university students who have
student loans. According to the study, in a random sample of 215
university students, 86 have student loans.
(a) Construct a 99% confidence interval for
estimating the true proportion of all university students who have
student loans (2 marks)
(b) Provide an interpretation
of the confidence interval in part (a).
(1mark)
(c) Conduct an appropriate
hypothesis test, at the 1% level...
The university would like to conduct a study to estimate the true proportion of all university...
The university would like to conduct a study to estimate the
true proportion of all university students who have student loans.
According to the study, in a random sample of 215 university
students, 86 have student loans. (a) Construct a 95% confidence
interval for estimating the true proportion of all university
students who have student loans (b) Provide an
interpretation of the confidence interval in part (a). (1mark) (c)
Conduct an appropriate hypothesis test, at the 5% level of
significance...
The university would like to conduct a study to estimate the true proportion of all university...
The university would like to conduct a study to estimate the
true proportion of all university students who have student loans.
According to the study, in a random sample of 215 university
students, 86 have student loans. (a) Construct a 99% confidence
interval for estimating the true proportion of all university
students who have student loans (b) Provide an
interpretation of the confidence interval in part (a). (1mark) (c)
Conduct an appropriate hypothesis test, at the 1% level of
significance...
the university would like to conduct a study to estimate the true proportion of all university...
the university would like to conduct a study to estimate
the true proportion of all university students who have student
loans. According to the study, in a random sample of 215 university
students, 86 have student loans.
(a) Construct a 95% confidence interval for estimating
the true proportion of all university students who have student
loans
(b) Provide an interpretation of the confidence interval
in part (a).
(c) Conduct an appropriate hypothesis
test, at the 5% level of significance to...
The university would like to conduct a study to estimate the true proportion of all university...
The university would like to conduct a study to estimate
the true proportion of all university students who have student
loans. According to the study, in a random sample of 215 university
students, 86 have student loans.
(a) Construct a 95% confidence interval for estimating
the true proportion of all university students who have student
loans (2 marks)
(b) Provide an interpretation of the confidence interval
in part (a). (1mark)
(c) Conduct an appropriate hypothesis
test, at the 5% level...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Write a function that tells whether a hailstone sequence contains a number that is greater than...
- 1D List Practice Could you write the code to solve the following problem that uses 1D...
- How the concept of moral hazard can be applied to the 2008 financial crisis?
- Write a program that prints and calls two methods. 1. Compute and return the future value...
- Assume you have been selected to lead your team in the development of a quality management...
- java You are creating an array where each element is an (age, name) pair representing guests...
- Joni is a financial planner for ABC firm. She provided all of her clients with the...
ADVERTISEMENT