Business, 11.03.2020 01:03 schuenkelisa

In interest-only loans, the borrower pays only interest through monthly payments. She repays the principal in a lump sum at maturity. For example, you borrowed $30,000 from your local bank on the day you entered college. The terms of the loan include an interest rate of 4.75 percent. The terms stipulate that the principal is due in full one year after you graduate. Interest is to be paid annually at the end of each year. Assume that you complete college in four years.

How much total interest will you pay on this loan assuming you paid as agreed?

a.$1,425

b.$7,400

c.$7,267

d.$7,125

e. $1,500

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 17:30

Betty contracted with scooby’s skate store to deliver a pair of skates to jake for his birthday. scooby’s owner was going on a trip and delegated the delivery of the skates to brian. brian failed to make delivery.can jake sue brian for breach of contract, as he was not a party to the original contract? explain your answer. brian was not a party to the original contract. why would a court hold him responsible for failing to make delivery? if you do not think a court would hold him responsible, explain your answer. can jake sue scooby’s skates for breach of contract? explain your answer.

Answers: 2

Answer

Business, 22.06.2019 23:10

Amazon inc. does not currently pay a dividend. analysts expect amazon to commence paying annual dividends in three years. the first dividend is expected to be $2 per share. dividends are expected to grow from that point at an annual rate of 4% in perpetuity. investors expect a 12% return from the stock. what should the price of the stock be today?

Answers: 1

Answer

Business, 22.06.2019 23:30

Which career pathways require workers to train at special academies? a.emts and emergency dispatchers b.crossing guards and lifeguards c.police officers and firefighters d.lawyers and judges

Answers: 3

Answer

Business, 23.06.2019 04:40

What are the advantages and disadvantages for an individual who accepts a job as a human resource manager in a firm that is in the midst of a retrenchment corporate strategy? a reactor business strategy?

Answers: 3

Answer

You know the right answer?

In interest-only loans, the borrower pays only interest through monthly payments. She repays the pri...

Questions