Solved

If You Borrow $50,000 at an Annual Interest Rate of 12

Question 100

Multiple Choice

If you borrow $50,000 at an annual interest rate of 12% for six years,what is the annual payment (prior to maturity) on an interest-only type of loan?


A) $0.00
B) $6,000.00
C) $8,333.33
D) $12,161.29

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q9: Given positive equal annual cash flows and

Q22: The last interest payment on a 12-year,6%,$138,000,fully-amortized

Q54: When solving for future value,we use the

Q98: What is the present value of a

Q99: The formula for the Present Value Interest

Q101: You have saved $47,000 for college and

Q102: You have a choice between a lottery

Q103: A wealthy woman just died and left

Q105: If you borrow $50,000 at an annual

Q111: A series of equal periodic finite cash