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EnergyMax Engineering constructed a small office building for their firm 5 years ago. They financed it with a bank loan for $450,000 over 15 years at 12% interest with quarterly payments and compounding. The loan can be repaid at any time without penalty. The loan can be refinanced through an insurance firm for 8% over 20 years-still with quarterly compounding and payments. The new loan has a 5% loan initiation fee, which will be added to the new loan.
(a) What is the balance due on the original mortgage (20 payments have been made in last 5 years)?
(b) How much will Energy Max's payments drop with the new loan?
(c) How much longer will the proposed loan run?
Bell would not allow independents to use his long distance network. What was the government action?
Unit I PowerPoint Presentation As stated in the Unit I Lesson, the importance of an international trade can be roughly measured using a ratio called openness. Include no more than six abbreviated bulleted items for each slide in approximately 24-poin..
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Federal excise taxes on gasoline vary widely across the developed world. The United States has the lowest taxes at USD $0.40 per gallon (or L0.07 per litter), Canada has taxes of $0.60 per gallon, Japan and much of Europe is $2.00 per gallon, while B..
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Calculate the balance due, principle payment, and interest payment for each period of a new car loan. the nominal interest is 8% per year, compound monthly. Payments are made monthly for 5 years. The original loan is for $27,000.
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