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Q3: A borrower and lender agree that a 6-month repayment holiday will be taken on a loan with a $100,000 outstanding pri
Posted: Tue Nov 16, 2021 7:49 am
by answerhappygod
- Q3 A Borrower And Lender Agree That A 6 Month Repayment Holiday Will Be Taken On A Loan With A 100 000 Outstanding Pri 1 (18.99 KiB) Viewed 98 times
- Q3 A Borrower And Lender Agree That A 6 Month Repayment Holiday Will Be Taken On A Loan With A 100 000 Outstanding Pri 2 (18.99 KiB) Viewed 98 times
Q3: A borrower and lender agree that a 6-month repayment holiday will be taken on a loan with a $100,000 outstanding principal at 10% interest rate and 20 years remaining to maturity. Assuming the payments are made monthly (1) What will the loan balance be after the holiday? (2) What will the new payment amount be assuming the same maturity (3) How many years will it take to pay off the loan if the payments remain unchanged? Round your answer to two decimal places.