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#### Repaying a Loan  While Mary Corens was a student at the University of Tennessee, she borrowed \$9,000 in student loans at an annual interest rate of 8%

###### Finance

Repaying a Loan
While Mary Corens was a student at the University of Tennessee, she borrowed \$9,000 in student loans at an annual interest rate of 8%. If Mary repays \$1,700 per year, then how long (to the nearest year) will it take her to repay the loan? Do not round intermediate calculations. Round your answer to the nearest whole number.
year(s)

Problem 4-14 (Uneven Cash Flow Stream)
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Uneven Cash Flow Stream
a. Find the present values of the following cash flow streams. The appropriate interest rate is 12%. (Hint: It is fairly easy to work this problem dealing with the individual cash flows. However, if you have a financial calculator, read the section of the manual that describes how to enter cash flows such as the ones in this problem. This will take a little time, but the investment will pay huge dividends throughout the course. Note that, when working with the calculator's cash flow register, you must enter CF0 = 0. Note also that it is quite easy to work the problem with Excel, using procedures described in the Ch04 Tool Kit.xlsx.) Do not round intermediate calculations. Round your answers to the nearest cent.
Year Cash Stream A Cash Stream B 1 \$100 \$200 2 400 400 3 400 400 4 400 400 5 200 100 Stream A: \$
Stream B: \$ b. What is the value of each cash flow stream at a 0% interest rate? Round your answers to the nearest dollar. Stream A \$ Stream B \$

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