1. Christine de Pizan has a mortgage for $120,000. The interest rate is 8.25%,...
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Finance
1.
Christine de Pizan has a mortgage for $120,000. The interest rate is 8.25%, with monthly payments for 30 years. What is her monthly payment?
2.
Peter Lombard has a $45,000 loan with a 15 percent APR which compounds quarterly. The payment is $1875 per quarter. How long will it take to pay off the loan?
3.
Aethelflaed Mercia is interested in valuing a stream of cash flows. What is the present value of $4,000 per year, at a discount rate of 11 percent, if the first payment is received 8 years from now and the last payment is received 40 years from now?
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