. Estimate the monthly payments of a loan for a 2016 Ford Mustang GT. The amount borrowed is $33,000 at a 4.5% yearly interest rate compounded monthly for 72 months

Q: What is the APR on this loan?

A: Interest is the cost of borrowing a loan. It is the excess amount over the principal borrowing.…

Q: Develop the table below comparing the monthly paymentsfor a 30-year $200,000 mortgage loan with its…

A: Installment is the amount of periodic payments a borrower makes to its lender in order to pay back…

Q: You have approached your bank for a 30 year mortage loan in the sum of $2,160,000. The bank has…

A: Monthly payments refers to the periodic payment of repayment of a loan. Monthly payments includes…

Q: You have borrowed $20,000 from a bank for a five-year period. You will be making monthly payments on…

A: Borrowed amount is $20,000 Interest rate on Loan is 12% per annum Interest rate compounded monthly…

Q: Banks sometimes quote interest rates in the form of “add-on interest.” In this case, if a 1-year…

A: Loan Amount borrowed= $1,000 Monthly payment = $108 Time period = 12 months

Q: loan

A: Formula to calculate t under simple interest is: t = i/Pr where t is the time period, i is the…

Q: Consider the following loan: a 60-month, $45,000 car loan with a 12% APR, compounded monthly. Assume…

A: Loan repayment refers to reducing the liability of borrower by making payments to lender as agreed…

Q: It is important to know how to build an amortization schedule when firms (or individuals) take out…

A: Given: Loan amount (P): $60,000 Number of periods (n): 3 years =3*12= 36 months Interest (i): 12%…

Q: Schlitz Inc. has obtained a 90-day bank loan of $10,000 with an annual interest rate of 15%, payable…

A: Given loan is for 90 days. Hence, the maturity period is 90 days. Hence, S Inc has to pay interest…

Q: Assume that you want to buy a house and have to borrow $80.000 over a term of 25 years. The annual…

A:

Q: If you borrow $5000 at an APR of r (as a decimal) from a lending institution that compounds interest…

A: Interest rate is the proportion of amount loaned on which a lender charger as interest to the…

Q: If you borrow $25,000 at an interest rate of 6%, compounded annually, with the repayment schedule as…

A: We need to discount all the future cash flows from year 1-4 and year 5-9 so that the total sum of…

Q: A lender requires PMI that is 0.8% of the loan amount of $460,000. How much (in dollars) will this…

A: Given information: Loan amount is $460,000 PMI requires 0.8% of loan amount

Q: Consider a loan of $2100 at 7% compounded quarterly, with 6 quarterly payments. Find the following.…

A: An amortized loan is a loan that is repaid slowly by paying equal installments. The balance of the…

Q: The following loan is a simple interest amortized loan with monthly payments.($) 6000 , (7 1/2 %), (…

A: a) Computation of monthly payment:

Q: The following table shows annual rates for various types of loans in 2015. Assume monthly payments…

A: Given, Down Payment =$70,000 Monthly Mortgage Payments =$1900 Rate of Interest = 4.09%  (Since the…

Q: Flat Rock Inc recently borrowed $55,000 from its bank at a simple interest rate of 9.2%. The loan is…

A: The loan agreement that states the interest amount would be added back to the amount borrowed, such…

Q: Assuming that the interest is the only finance charge, how much interest would be paid on a 5,000…

A: Interest is the amount paid on a loan by the borrower to the lender above the principal amount to…

Q: (Refer to this word problem ) The accumulated value of a 3-month loan of P5,000 is P5,085. What is…

A: Loan amount = P5000 Accumulated value = P5085 Interest amount = 5085-5000 = P85 Period = 3 Months =…

Q: Find the APR of the loan given the amount of the loan the number and types of payment in the add-on…

A: Annual percentage rate (APR) : It refers to the yearly generated interest by a Principal amount that…

Q: You are asked to help the company "X" by computing the Loan repayment table. a) Draw up the…

A: An equal cashflow for a fixed number of times at equal intervals is called annuity. If A is equal…

Q: Banks sometimes quote interest rates in the form of “add-on interest.” In this case, if a 1-year…

A: Annual percentage rate (APR) refers to the annual cost of funds borrowed. The APR is usually…

Q: find i (the rate per period) and n (the number of periods) for each loan at the given annual rate.…

A: Calculation of Number of periods and monthly interest rate: Answer: Number of periods is 48 monthly…

Q: Develop the table below by comparing the monthly paymentsfor a $200,000 mortgage loan with an 8.00%…

A: monthly payment formula: pmt=p×r121-1+r12-12×n r=rate of interest n = number of years

Q: The following loan is a simple interest amortized loan with monthly payments. (Round your answers to…

A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…

Q: What lump-sum amount of interest will be paid on a $10,000 loan that was made on August 1, 2012, and…

A: Principal (P)= $10,000 Rate (R)= 10% per year Time(T)= 4 years and 3months   We have to calculate…

Q: Answer the Situation below correctly show your complete solution. A loan of 30 000.00 Php is to be…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: Banks sometimes quote interest rates in the form of “add-on interest.” In this case, if a 1-year…

A: Loan Amount  = $1,000 Monthly payment = $108 Time Period = 12 months

Q: onsider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using…

A: Equated Monthly Installments are one part of the equally divided monthly outgoes to clear off an…

Q: The interest rate for the loan is 3.5% p.a. effective. Which of the following is the best next step…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: Consider a $150,000 loan with an annual interest rate of 6.5 percent and a 30-year term. Discount…

A: Present value of annuity Annuity is a series of equal payments at equal interval over a specified…

Q: Assume you borrow $10,000 today and promise to repay the loan in two payments, one in year 2 and the…

A: Let, the size of the payment in 4th Year be X. The calculation of the value of X is as follows:

Q: Suppose you want to borrow S125 000 and you find a bank offering a 20-year loan with an APR of 5% a.…

A: a. Determine the regular payments when n=1 using the Excel PMT function with the following inputs:…

Q: The following table shows annual rates for various types of loans in 2015. Assume monthly payments…

A: EMI is a fixed monthly payment of the loan amount that is paid by the borrower to the lender at the…

Q: (Refer to this word problem The accumulated value of a 3-month loan of P5,000 is P5,085. What is the…

A: Principal (P) = P 5000 Accumulated value (F) = P 5085 n = 3 months = 0.25 years Let r = Simple…

Q: Amount Rate Time ​$63,000 12​% 3 years table of monthly payments on a​ $1,000…

A: Loan amount (PV) = $ 63000 Annual interest rate  = 12% Monthly interest rate (R) = 12%/12 = 1%…

Q: You have just purchased a home by borrowing $400, 000 for 30-years at a fixed APR of 3.87%. The loan…

A: Answer.  APR means Annual periodic interest rate

Q: Use excel plz and show working You entered into a mortgage agreement to borrow $100,000 at an…

A: Information: a) The annual payments can be computed using PMT function in excel. b) The Principal…

Q: Data​ Back-Up Systems has obtained a $29,000, 90-day bank loan at an annual interest rate of 15​%,…

A: a)The computation of amount of interest on the loan is as follows:Working note:Hence, the amount of…

Q: A loan taken from Riyadh Bank; needs to be paid off, in N years. If the loan is equal to 40…

A: Let the identical payments be x. so the loan value will be 40x. It is given that the interest rate…

Q: e following loan is a simple interest amortized loan with monthly payments. (Round your answers to…

A: Mortgage refers to a legal agreement as per which the lending institution such as banks, cooperative…

Q: If you borrow $20,000 at an interest rate of 8%, compounded annually with the following repayment…

A: In the given sum we are given loan amount and  interest rate. We must find the value of A which is…

Q: A debt of $200,000 is accruing interest at 9% compounded daily. If it is to be repaid by monthly…

A: in this we have to calculate present value FACTOR and period required.

Q: Develop the table below by comparing the monthly pay- ments for a $200,000 mortgage loan with an…

A: When time is 100 years N = 100*12, FV = 0, PV = 200,000, rate = 8%/12 use PMT function in Excel…

Q: Find the payment necessary to amortize a 7% loan of $2200 compounded quarterly, with 6 quarterly…

A: Quarterly Payment needed to amortize this loan : $  -389.45 Reference:

Q: The following table shows annual rates for various types of loans in 2015. Assume monthly payments…

A: Present value of annuity is the present value of the same amount of cash flows that occurs for every…

Q: Use the information below for the next two problems.        Schlitz Inc. has obtained a 90-day bank…

A: Given:   Loan amount  $10,000 Annual Interest Rate 15% Loan period in days 90 Number of days…

Q: 1. Let's assume that a loan of $100,000 with an annual interest rate of 6% over 30 years pays…

A: Accumulation rate is the increase in size of asset, position or overall buying activity of…

Q: Consider a $200,000 loan with fixed monthly payments. Compute the amount of interest savings when…

A: The question can be computed as follows:

Q: Investigate the effect of the term on simple interest amortized auto loans by finding the monthly…

A: Loan Amount =$10,000 Interest rate = 678% = 558%=6.875%

Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.