Question #9: Exercise 45: Accelerated Loan Payment. Suppose you have a student loan of $30 000 with an APR of 9% for 20 years What are your required monthly payments? ANSWER: $ What will your total payment be for the 20-year term? ANSWER $ Suppose you would like to pay the loan off in 10 years instead of 20 What monthly payments will you need to make? ANSWERS What will your total payment be for the 10-year term? ANSWER: 5

Question #9: Exercise 45: Accelerated Loan Payment. Suppose you have a student loan of $30 000 with an APR of 9% for 20 years What are your required monthly payments? ANSWER: $ What will your total payment be for the 20-year term? ANSWER $ Suppose you would like to pay the loan off in 10 years instead of 20 What monthly payments will you need to make? ANSWERS What will your total payment be for the 10-year term? ANSWER: 5

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 12PROB

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