Business Finance Answers_Part_29

Business Finance Answers_Part_29 - CHAPTER 6 B-113 60....

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CHAPTER 6 B-113 60. Enter 1 $21,250 $25,000 N I/Y PV PMT FV Solve for 17.65% 61. Enter 8% 12 NOM EFF C/Y Solve for 7.72% Enter 12 7.72% / 12 $47,000 / 12 N I/Y PV PMT FV Solve for $48,699.39 Enter 1 8% $48,699.39 N I/Y PV PMT FV Solve for $52,595.34 Enter 12 7.72% / 12 $50,000 / 12 N I/Y PV PMT FV Solve for $51,807.86 Enter 60 7.72% / 12 $55,000 / 12 N I/Y PV PMT FV Solve for $227,539.14 Award = $52,595.34 + 51,807.86 + 227,539.14 + 100,000 + 20,000 = $451,942.34 62. Enter 1 $9,700 $10,800 N I/Y PV PMT FV Solve for 11.34% 63. Enter 1 $9,800 $11,200 N I/Y PV PMT FV Solve for 14.29% 64. Refundable fee: With the $2,300 application fee, you will need to borrow $242,300 to have $240,000 after deducting the fee. Solve for the payment under these circumstances. Enter 30 12 6.80% / 12 $242,300 N I/Y PV PMT FV Solve for $1,579.61
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B-114 SOLUTIONS Enter 30 12 $240,000 $1,579.61 N I/Y PV PMT FV Solve for 0.5745% APR = 0.5745% 12 = 6.89% Enter 6.89% 12 NOM EFF C/Y Solve for
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This document was uploaded on 10/31/2011 for the course FIN 3403 at University of Florida.

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Business Finance Answers_Part_29 - CHAPTER 6 B-113 60....

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