Unformatted text preview: semi-annually, a. What is my balance in 25 years? b. What is my balance in 25 years if I withdraw $70 per month instead of $50 per month? 5. I borrow $10,000 at an interest rate of 11% APR compounded continuously with monthly payments of $256.25. Two years from now I can re-finance the then remaining balance @ 10.5% APR compounded quarterly with the same monthly payments. How long would it take (months) to pay the loan down to a $1000.00 remaining balance from today?...
View Full Document
- Spring '09