1 dinero bank offers you a five-year loan for 58000 at an, Ask an Expert

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1. Dinero Bank offers you a five-year loan for $58,000 at an annual interest rate of 6.25 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

2. Find the present value of an annuity-due of $750 per annum payable semiannually for 8 years if the nominal rate of discount convertible bimonthly is .06.

3. You borrow $6,030 to buy a car. The terms of the loan call for monthly payments for 4 years a rate of interest of 5 percent. What is the amount of each payment?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92841060

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