Alex Karez has taken out a loan of $180,000 with an annual rate of 11% compounded monthly to pay off hospital bills from his wife lzzy's illness, If the most Alex can afford to pay is $3,500 a month, how long will to pay off the loan? How long will it take to pay off the loan if he can pay $4000 each month? If Alex can pay S3,500 a month, how many years will it take to pay off the loan? To pay for your education you have taken out $28,000 in student loans. If you make monthly payments over 13 years at 6% compounded monthly, how much are your monthly student loan payments?

Alex Karez has taken out a loan of $180,000 with an annual rate of 11% compounded monthly to pay off hospital bills from his wife lzzy's illness, If the most Alex can afford to pay is $3,500 a month, how long will to pay off the loan? How long will it take to pay off the loan if he can pay $4000 each month? If Alex can pay S3,500 a month, how many years will it take to pay off the loan? To pay for your education you have taken out $28,000 in student loans. If you make monthly payments over 13 years at 6% compounded monthly, how much are your monthly student loan payments?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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