The Turners have purchased a house for $150,000. They made an initial down payment of $30,000 and secured a mortgage with interest charged at the rate of 8%/year compounded monthly on the unpaid balance. The loan is to be amortized over 30 yr. (Round your answers to the nearest cent.) (a) What monthly payment will the Turners be required to make?
(b) How much total interest will they pay on the loan? $
(c) What will be their equity after 10 years? $
(d) What will be their equity after 22 years?

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.