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[DOC File]Financial Math
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Ardella purchased bedroom furniture for $1009.56. She made a 10% down payment and financed the remaining amount using the store’s single-payment loan with 13.8% ordinary interest for 45 days. What amount did she finance? What is the maturity value of her loan? Solution: $1009.56 * .1 = $100.96 Down payment
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[DOC File]Section 4
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4. On May 5, Karla Harrison made a payment on her 8.25% car loan. After making the payment, the balance was $1,142.85. Karla got her income tax refund, and on May 27 she pays off the loan. What is the payoff amount? 5. Calculate the finance charge on a home equity loan based on an average daily balance of $37,581 during a 31-day billing period.
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[DOCX File]JustAnswer
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Mar 15, 2015 · The Jefferson’s extra payment amount, on the other hand, will allow them to pay off their loan more rapidly. Use the Years mini financial calculator of the Financial Toolbox spreadsheet to calculate the approximate number of years (nearest 10th) it would take the Jefferson’s to pay off their loan.
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[DOC File]Solutions to Chapter 1
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Using a financial calculator, enter: n = 48, i = 12%/12 = 1%, FV = 0, PMT = 400 and compute PV = $15,189.58. With a down payment of $2,000, you can pay at most $17,189.58 for the car. b. In this case, n increases from 48 to 60. You can take out a loan of $17,982.02 based on this payment schedule. This is computed as follows: PV=
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[DOCX File]CHAPTER 5
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The payment for a loan repaid with equal payments is the annuity payment with the loan value as the PV of the annuity. ... This is because more principal is repaid early in the loan, which reduces the total interest expense over the life of the loan. ... is $358,326.50, but the policy contract will pay off $350,000. The premiums are worth ...
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[DOC File]Solutions to Chapter 1
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A one in five chance of success is acceptable if the payoff conditional on finding an oil field is ten times the costs of exploration. ... The monthly payment is based on a $100,000 loan: PMT ( annuity factor(1%, 360) = 100,000 ( PMT = $1,028.61. ... In early 2002, the Dow was more than three times its 1990 level. ...
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[DOC File]CHAPTER 1
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You will incur loan costs of $2,150 on the new loan (payable in cash when you get the loan). You must also pay a $3,000 prepayment penalty on the old loan for paying it off early. Calculate your real APR on the new loan, assuming you do not pay it off early. A. 6.90% B. 7.04% C. 6.71% D. 6.80%. Unit 17.2 Growth rates
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[DOCX File]Financial Management – FINE 6020
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Since the first payment was made on October 1, 2013, and she made a payment on October 1, 2015, there are 35 payments remaining, with the first payment due immediately. So, we can find the present value of the remaining 34 payments after November 1, 2015, and add the payment made on this date. So the remaining principal owed on the loan is:
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[DOCX File]Big Splash Solutions - Web Design - Video Production ...
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The payoff figure includes all accrued interest currently due on the loan plus 10 days of future interest to allow for mailing time. If the payoff is not received within 10 days, you may need to send an additional payment.
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Early payoff loan calculator extra payment