• 2021-04-14
    Western Bank offers you a $21,000, 9-year term loan at 8 percent annual interest. What is the amount of your annual loan payment?
  • $3,361.67

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    • 0

      Justin Banks just won the lottery and is trying to decide between the annual cash flow payment option and the lump sum option. Justin can earn 8% at the bank and the annual cash flow option is $ lO0000/year, beginning today for 15 years. What is the annual cash flow option worth to Justin today() A: $ 855947.87. B: $1500000.00. C: $ 924423.70.

    • 1

      Something the bank requires for lending you money is_____. A: loan B: guarantee C: trust D: interest

    • 2

      中国大学MOOC: In order to calculate the monthly payments on your loan, the bank adds the interest to the _____ and divides the total by the number of months.

    • 3

      1) Which term means “the amount of money which a business obtains (in a year) from customers by selling goods or services”? A: Annual income B: operation profit C: annual turnover D: net profit

    • 4

      You may consider loan as your liability, but to the bank, it is your ______. A: competence B: poverty C: substance D: asset