Ron borrows 5045783 to purchase a warehouse the annual, Ask an Expert

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Ron borrows $5,045,783 to purchase a warehouse. The annual interest rate on the loan is 8.25 percent, and the term of the loan is 15 years. A: What is the monthly payment necessary to amortize this loan? Round your answer to the nearest penny. Do not include any punctuation except a decimal point. B: What is the balance on the loan at the end of month 36? Round your answer to the nearest penny. Do not include any punctuation except a decimal point. C: How much interest will Ron pay in month 37? Round your answer to the nearest penny. Do not include any punctuation except a decimal point. D: How much principal will Ron pay in month 37? Round your answer to the nearest penny. Do not include any punctuation except a decimal point. E: How much principal will Ron pay in the fourth year of this loan (payments 37 through 48)? Round your answer to the nearest penny. Do not include any punctuation except a decimal point.

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Financial Management, Finance

Category:- Financial Management
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