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Pay the loan in full at the due date

Your need to repay a loan with a future value of $304,071.00 in 18.5 years. If you can make annual year-end deposits of $11,000 into an account, what annual rate of return would you require to earn enough money to pay the loan in full at the due date?

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Pay the loan in full at the due date

Reference No:- TGS0679682

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Analyzing and comparing commercial aviation accident

Q : How many loan payments must make before loan is paid in full

Q : Calculate the direct labor quantity variance

Q : How much will pay for the contract today

Q : Pay the loan in full at the due date

Q : How much overhead is assigned to product a1

Q : What amount will be in the fund in twenty years

Q : Centers volume overhead variance

Q : What is the standard price per gallon

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Pay the loan in full at the due date

Reference No:- TGS0679682

Recent Questions Asked Finance Basics

Q : Analyzing and comparing commercial aviation accident

Q : How many loan payments must make before loan is paid in full

Q : Calculate the direct labor quantity variance

Q : How much will pay for the contract today

Q : Pay the loan in full at the due date

Q : How much overhead is assigned to product a1

Q : What amount will be in the fund in twenty years

Q : Centers volume overhead variance

Q : What is the standard price per gallon

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