Loan balance after ten years of making required payments

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Reference no: EM131319710

1. How much must you deposit today at 5% interest to be able to pay out $35,000 each year for four years if the first payment occurs in 12 years?

2. If you borrow $250,000 for 15 years at an APR of 4.5%, what will be the remaining loan balance after ten years of making the required minimum monthly payments?

3. If you borrow $250,000 for 15 years at an APR of 4.5%, how much interest will you pay during the first five years of the loan if you make only the minimum required monthly payments?

Reference no: EM131319710

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