Multiple Choice
A client has taken out a $300,000 loan,which must be repaid with equal annual payments for the next 30 years.If the interest rate on the loan is 4.5%,what are the annual payments?
A) $18,417.46
B) $19,455.46
C) $12,455.46
D) $17,417.46
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q25: What is the future value of $15,000
Q26: Approximately how long will it take for
Q27: What is a perpetual annuity?<br>A)A stream of
Q28: What is the internal rate of return?<br>A)The
Q29: If the value of the principal today
Q31: If the value of the principal today
Q32: What is the present value of $100,500
Q33: The APR:<br>A)Adjusts for inflation.<br>B)Is always compounded multiple
Q34: If the value of the principal today
Q35: What is the nominal return?<br>A)The return on