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Category > Business & Finance Posted 18 Aug 2017 My Price 8.00

Determine the equal, annual, endofyear payment required over the life of the following loans to repay them fully during the stated term.

Please help with unit 7 homework attached

accounting homework

Determine the equal, annual, end­of­year payment required over the life of the following loans to repay them fully during the stated term.  
Term of Loa
Interest Loan Annual
n
Principal ($)
Rate (%) (Yrs) Payment ($)
A
30 comma 00030,000 77
1818
B
40 comma 00040,000 1717
99
Interest Term of Annual
Loan Principal ($)
Rate (%) Loan (Yrs) Payment ($)
nothing A 30 comma 00030,000 77 1818   
(Round to the nearest cent.) You are considering the purchase of a BMW M5. You will borrow the money from BMW Financial Services. The terms of the deal are outlined below: BMW M5 RWD, 500hp, 0­100 in 4.7s
MSRP = $110 comma 000110,000 Term = 7272 months APR = 5.55.5% Down Payment = $0 Monthly Payments = $1 comma 797.171,797.17
The amortized loan payments are a blend of interest and principal. What is the total amount of interest you would pay over the life of the loan? Assume that taxes are zero. What is the total amount of interest you would pay over the life of the loan?

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Martinakom
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Status NEW Posted 18 Aug 2017 03:08 PM My Price 8.00

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