1. The condominium at the beach that you want to buy costs $220,000 after your down payment. what will your monthly payment be if you get a 30 year mortgage with an 9.5% interest rate?
2. You just received a cash advance offer in an email. the company is offering you $15,000 at 17.9 percent interest compounded monthly. the monthly payment is only $335. if you accept this offer, how long will it take you to pay off the loan if you continue to pay the minimum monthly payment.
3. A 12 year bond has a 14% annual coupon and a face value of $1,000. what is the price of the bond to an investor with a required return of 14%.