Business, 20.02.2022 01:50, robertjoy19
1. An asset is projected to generate 14 annual cash flows of $6,000 starting 6 years from today. If the discount rate is 9%, how much is this asset worth today? Round to the nearest dollar.
2. If your business borrows $27,000 from a bank for 7 years at an interest rate of 8.0%, how much will you owe in balloon payment at the end of the loan's term? This is a balloon loan with all payment due at the end. Round to the nearest dollar.
3. Suppose your business wants to borrow $4429 from a bank for 5 years. The bank wants a balloon payment of $6429 at the end of the loan's term. What is the interest rate implied by this deal? Answer in percent, rounded to one decimal place.
4. If you take out an amortized loan for $29,000 at an interest rate of 7.3% for 11 years, what are the annual payments you'd have to make to pay it off? Round to the nearest dollar.
5. Suppose you are buying a car for $33,000. You will make a 19% down payment and take out a loan for the rest. You are offered a 2.3% fixed rate loan for 7 years. How much will your monthly payments be? Round to the nearest dollar.
Answers: 3
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