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How much was the original loan amount

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Q1. Andy is paying $625 every month on his business loan. If the loan lasts 6 years and has a 8% interest rate, how much was the original loan amount?

Q2. Katie is paying $87 every month on her car loan. If the loan lasts 4 years and has a 6.5% interest rate, how much was the original loan amount?

Q3. Jimmy has a business that generates $100,000 per year in income. Tom wants to buy the business from Jimmy. Assuming a 5 year valuation period, and a discount rate of 7.5% per year, how much is Jimmy's business worth today?

Q4. Aaron is receiving $80 every month for some money he loaned to a friend. If the loan lasts 2 years and has an 8.5% interest rate, how much was the original loan amount?

Q5. Heather is receiving $175 every month for some money she loaned out. If the loan lasts 3 years and has a 7.5% interest rate, how much was the original loan amount?

Reference no: EM133112645

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