Loan Assignment | Professional Writing

You have a loan outstanding. It requires making 3 annual payments at the end of the next 3 years of $7,000 each. Your bank has offered to allow you to skip making the next 2 payments in lieu of making one large payment at the end of the loan’s term in 3 years.

How to Use QuickBooks

Connect with a professional writer in 5 simple steps

Please provide as many details about your writing struggle as possible

Academic level of your paper

Type of Paper

When is it due?

How many pages is this assigment?

If the interest rate on the loan is 2.77%, what final payment will the bank require you to make so that it is indifferent between the two forms of payment? The present value of the cash flows is $ . (Round to the nearest dollar.)

Get Finance homework help today