1 alisha can afford car payments of 291 a month for 60, Ask an Expert

Finance

1. Alisha can afford car payments of $291 a month for 60 months. The bank will lend her money to buy a car at 6% APR compounded monthly (0.5% per month). How much money can he afford to borrow?

2. First State Bank offers you a $115,000, 6-year term loan at 10 percent annual interest. What will your annual loan payment be?

3. Find the present value of a 6-month forward long contract on an asset with a delivery price of $100,000 in 6 months. If the asset is worth $105,000 in 6 months, and the yearly rate of risk free interest is 4%, what is the value of the contract today.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92717802

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