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Citrus2011 [14]
3 years ago
5

How much TOTAL (principle and interest) will be paid over the life of the following loan: $185,000 loan; 7% annual interest (mon

thly payments); 30 years?
Business
1 answer:
Yuri [45]3 years ago
5 0

Answer:

$443,091.5

Explanation:

Given that,

Amount of loan, present value = $185,000

Annual rate of interest, r = 7% ÷ 12

                                         = 0.00583

Time period = 30 years

Therefore,

Monthly payments:

=\frac{r\times PV}{[1 - (1+r)^{-n}]}

=\frac{0.00583\times 185,000}{[1 - (1+0.00583)^{-30\times12}]}

=\frac{1,078.55}{[1 - (1.00583)^{-360}]}

= 1230.81

Total (principle and interest) will be paid over the life:

= Monthly payments × 360

= $1,230.81 × 360

= $443,091.5

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2 years ago
The real risk-free rate is 3.05%, inflation is expected to be 3.60% this year, and the maturity risk premium is zero. Ignoring a
natulia [17]

Answer:

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Explanation:

Hi, well, this type of bonds exist so people can avoid the time value of money risk, in other words, to keep money save from inflation and provide a risk free return at the same time. From a part of the text I can tell that the person who wrote it wanted to add up the risk free rate and the inflation rate, that is 3.05%+3.60% =6.65%.

This is why I wrote this answer, but the truth is that since they are both effective rates (risk free rate and inflation), they need to be add as effective rates, that is:

(1+r(e))=(1+rf)*(1+Inf)

Therefore

r(e)=(1+rf)*(1+Inf)-1

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6 0
3 years ago
The use of the concepts of purchasing, procurement, supply, and supply chain management will vary from organization to organizat
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Answer:

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Answer:

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