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Unformatted text preview: currently invested? if she takes half of the money than she will only have $25,000 before taxes. Assuming that this money goes untouched until she is 60 and at a 7% interest than Jinhee will have 190,300. WE get this answer by looking at appendix A. we multiply 25,000*7.612= 190,300. Question 4 What is Paul’s annual payment if he wants to repay his student loans completely within ten years and he pays a 5.0 percent interest rate? How much more or less would Paul pay if the loans compounded interest on a monthly basis and Paul also paid the loans on a monthly basis Paul’s annual payment in order to repay his loans completely within 10 years at a 5% interest rate is $12,950. We use appendix D. The principal is 100,000 by 7.722 interest which equals 12,950....
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This note was uploaded on 10/12/2011 for the course BUSN 2300 taught by Professor Davidoff during the Fall '11 term at CUNY Brooklyn.
- Fall '11
- Personal Finance