Solved: Mort is to pay off a loan of 60000 with equal payments at, Finance Basics

+44 141 628 6080
[email protected]

Mort is to pay off a loan of 60000 with equal payments at

Mort is to pay off a loan of $60,000 with equal payments at the end of every month over 10 years (i.e., 120 months). The ANNUAL effective rate is 8.5%. Mort decides that he can actually manage to pay double the monthly payment each month. How many MONTHS will it take him to pay off the loan? (Include the final month where the last payment will be smaller than all the rest.) Answer in integer number of months.

Solution Preview :

Prepared by a verified Expert

Finance Basics: Mort is to pay off a loan of 60000 with equal payments at

Reference No:- TGS02644301

Now Priced at $10 (50% Discount)

Recommended (99%)

Rated (4.3/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Finance Basics

Q : Adetermine the accumulated value of the investment at the

10000 is used to purchase an appropriate size annuity that has level annual payments for 14 years the price of the

Q : What are some reasonable milestones for this initiative

problembegin to develop a plan for implementing your quality improvement initiative including redesigned process that

Q : If no payments are made a loan of amount 23000 would

if no payments are made a loan of amount 23000 would increase to 2561689 after 2 years of monthly compounding interest

Q : Research and develop a presentation about the culture of a

in this assignment you will research and develop a presentation about the culture of a particular ethnic group

Q : Mort is to pay off a loan of 60000 with equal payments at

mort is to pay off a loan of 60000 with equal payments at the end of every month over 10 years ie 120 months the annual

Q : If the effective annual rate is 94 what is the present

a perpetuity paysnbsp2700 at the end of every month for 11 months of each year at the end of the 12th month of each

Q : If the weighted average cost of capital is 14 what is the

kinkead inc forecasts that its free cash flow in the coming year ie at t 1 will be -10 million but its fcf at t 2

Q : Which costing method would your recommend a furniture

which costing method would your recommend a furniture manufacturer use 1 activity-based costing or 2 job order costing

Q : Identify the first ethical issue with which gladys is

gladys and the narcissistic knightchapter 1 - the proposalthe dorm room was still and quiet on a desk next to a laptop

1933528

Questions
Asked

3,689

Active Tutors

1454215

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Review the real-life cat and mouse chase

Real-Life Cat and Mouse Chase: Understanding the Perceptions and Attitudes of Street Vendors of Metro Manila towards MMDA Regulation No. 03-004

Discuss statements about sociological approaches

Question: Which of the following statements about sociological approaches are true?

Which are forms of media bias

Question: Which of the following are forms of media bias? (Select all that apply)

Identify problems and concerns that contributed

Identify problems and concerns that contributed to the many race-related protests and unrest during the 2020 year.

Discussion about cultural appropriation

This week watch the 3 short video clips below about cultural appropriation. These videos will redefine terms like cultural appropriation

Symbolic interactionism took off as a theoretical approach

Question: Symbolic interactionism took off as a theoretical approach to the study of deviance during the 1960s

Which is a criticism of marxist/conflict theories

Question: Which of the following is a criticism of Marxist/conflict theories? Group of answer choices