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24 Jul 2019
1-You want to set up a saving plan to purchase a house. You would like to have $30,000 in savings to buy a house in 6 years. If you can earn a rate of 5%, how much money would you have to place in the account per month?
2-you are buying a car and will borrow $17,000. Your banker quotes you an interest rate of 5%. If you choose to pay the loan over 5 years, what will your monthly payment be?
3-You are buying a 7.2% coupon bond. Thre are 1- years remaining until maturity. Similar bonds have a yield of 5.5%. What should the price of your bond be?
1-You want to set up a saving plan to purchase a house. You would like to have $30,000 in savings to buy a house in 6 years. If you can earn a rate of 5%, how much money would you have to place in the account per month?
2-you are buying a car and will borrow $17,000. Your banker quotes you an interest rate of 5%. If you choose to pay the loan over 5 years, what will your monthly payment be?
3-You are buying a 7.2% coupon bond. Thre are 1- years remaining until maturity. Similar bonds have a yield of 5.5%. What should the price of your bond be?
Patrina SchowalterLv2
25 Jul 2019
