10. If a loan is to be repaid in 5 years making bi-weekly payments, how many payments will be made? A) 60 B) 125 C) 130 D) 260
Q: you borrow $2,700 at 8% simple interest per year for five years, how much will you have to repay at…
A: interest =p×r×t100where,r=rate of interestp=principal t=years
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A: Using Excel Rate function
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Q: 1. You wish to have $10,000 in an account 10 years from now. How much money must be deposited in the…
A: Future value (FV) = $10,000 Interest rate (r) = 8% Period (n) = 10 Years
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A: Future value refers to the sum total value of loan (or deposits) accumulated for a specified period…
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A: The Annual Percentage Rate(APR) of the loan can be calculated using the RATE function in Excel.
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A: Hi student Since there are multiple questions, we will answer only first question. Interest is the…
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A: In this we have to calculate present value of both option.
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A: PV = 1000 FV = 0 rate = 10% N = 8 use PMT function in Excel
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A: The money required to pay after four years can be calculated as the future value of loan
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A: Solution: Monthly interest rate = 7%/12 = 0.583333% Nos of monthly periods = 5.6*12 = 66 months…
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- 3. A loan of size L is to be paid off by payments of 2000 each year for 10 years. The principal repaid in year 2 is 800. Find the interest rate i and the loan size L.Q5. Suppose you borrow $10,000. You are going to repay the loan by making equal annual payments for five years. The interest rate on the loan is 15 percent per year. Prepare an amortization schedule for the loan. How much interest will you pay over the life of the loan? Beginning Total Principal Ending Year Interest balance payment раyment раyment balance 1 $10,000 2 3 2,983.16 4 5 0.0019. What is the monthly payment on a $5M loan amortized over 25 years at 5%?
- 17. a. If you borrow $1,000 and agree to repay the loan in five equal annual payments at an interest rate of 12%, what will your payment be? (Round your answer to the nearest cent.) b. If you make the first payment on the loan immediately instead of at the end of the first year, what is your payment? (Round your answer to the nearest cent.)3. A loan of $50,000 due in one year is to be repaid by three equal payments due today, six months from now, and one year from now. What is the amount of the equal payments if interest is 6.5% (simple interest) and the focal date is today?H3. The interest rate on a $6400 loan is 7% compounded semi-annually, and the loan is to be repaid by monthly payments of $155. Construct a partial amortization schedule showing the last 2 payments. Determine the total amount paid to settle the loan. Show work, not just the answer. Determine the total principal repaid. Determine the total amount of interest paid. Show work, not just the answer.
- 12.) Find the simple interest on a loan of P65,000.00 if the loan is given at a rate of 8% and is due in 6 years and 3 months. A. $3,250.00 C. P32,500.00 B. P31,200.00 D. P46,800.00f2. Subject :- Accounting Consider a $25,000, three-year loan at an interest rate of 5%, payments to be made monthly. What is the monthly payment using add-on interest?9. If a loan of L is repaid in one lump sum at the end of 20 years, the amount of interest paid is 5000 more than if the loan is repaid with 20 level payments at the end of each year. Assume the effective rate of interest is 7%. Find the loan amount L. Answer: 2522.93
- 1. Let's assume that a loan of $100,000 with an annual interest rate of 6% over 30 years pays monthly payments of $500. a. Calculate the accumulation rate b. Calculate the payment rate . c. Answer : How will the balance of the principal be at the end of the loan in relation to the original amount of the loan? Less, equal or greater? Provide calculations.Suppose that you borrow$ 12000 at interest rate of 5% per year. If you must be repaid the loan in equal end of year payments over the next 4 years, how much must you repay at the end of each year? O a. $3672 Ob. $3384 Oc. $2672 O d. $2384[2P2] Directions: Determine the kind of annuity used in the following situations. Then, solve the problem. Show complete solutions. What equal payments at the beginning of each 2 months for 4 years will discharge a debt of P180,000 due now if the interest rate is 18.48% compounded every 2 months?
