What is the remaining balance after the fifth payment

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Reference no: EM131338882

1. Try using one of the many Internet calculators, such as the one at Salem Five, to calculate your time-value problems.

a. Suppose you wanted to borrow $100,000 for 25 years at 8 percent. Using Salem Five's calculator, find your monthly payment.

b. Using Salem Five's "Savings and Investment Planner," find how much $2,000 saved at the end of each of the next 30 years will grow to be, assuming it earns a constant 10 percent per year. (https://www.salemfive.com)

2. Using the amortization calculator at the following Web site, amortize a $100,000 loan over 10 years at 9 percent. What is the remaining balance after the fifth payment? https://www.moneyadvisor.com

Reference no: EM131338882

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