What is the balance of your loan immediately

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Reference no: EM131933860

1. You are borrowing $25,000 at a nominal rate of 6% compounded monthly for 47 months. What is the balance of your loan immediately after your 31th payment?

2. A international company make a decision to purchase a building in the central of the city, even though the NPV of this project is a negative number, why the company still take the project?

3. Ms. Manifee would like to purchase a new condo for $124,000. She plans to make a down payment of $54,000 and to borrow the rest of the money from the bank. The bank charges an annual percentage rate of 4% compounded daily. She agrees to monthly payments to pay off the loan in 20 years. What is her monthly payment?

Reference no: EM131933860

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