8. You have debt payments of $400 due 5 months ago, $660 due today, and $900 due 9 months from today. You are paying 10% compounded monthly on your loan. What single amount due three months from today will pay off the entire loan?

Q: Suppose you borrow $8500 for a term of five years at a simple interest and 8.25% APR. how much is…

A: Interest is the cost of borrowing the money.

Q: $5000 that you have to pay in 7 annual installments of $1100 each, the first one at the end of the…

A: The given problem relates to RATE function in excel. RATE function computes interest rate for no. of…

Q: You are considering taking out a loan of $6,000.00 that will be paid back over 11 years with…

A: Loan amount (L) = $6000 Quarterly payment (Q) = $185.41 r = 5.8% per annum = 1.45% per quarter

Q: If you take out a 4 year loan for $16,500 at your bank and pay the quarterly payments for the 4…

A: Total interest is = total payments - loan

Q: a) If you owe $10,940 and have 4 months to pay it off at the end of each month, assume an effective…

A: Part (a) Amount Owe = $10,940 Time period = 4 month Effective interest rate = 1% Part (b) Amount Owe…

Q: If you borrow $35,000 to buy a car on 10 years loan at 9% annual interest rate, what is the % of…

A: The monthly payment for the loan borrowed is calculated by the present value of the annuity formula.…

Q: Assume you graduate from college with $30,000 in student loans. If your interest rate is fixed at…

A: The monthly payment amount can be calculated with the help of present value of annuity function

Q: 2. What is the size of 8 equal annual payments to repay a loan of $1,000? The first payment is due…

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

Q: Suppose you borrowe9 $12,000 at an interest rate of 8%, compounded monthly over 36 months. At the…

A: Computation:

Q: a) If you owe $10,940 and have 4 months to pay it off at the end of each month, assume an effective…

A: Interest Payment: It is the interest payment made on the loan outstanding at a specific interest…

Q: You borrow $4000 due in ten years. For the first six years, the rate is 8% monthly. For the last…

A: Loan is a contract between lender & borrower where lender provides funds to borrower for…

Q: Suppose you have accumulated $22,000 in credit card debt. If the interest rate on the credit card is…

A: Present Value = Annuity * PVAF (Periodic rate, Number of Periods )

Q: You have just borrowed $100,000 from a bank for a ten-year period. You will be making quarterly…

A: Time Period is 10 years Borrowed amount is $100,000 Interest rate is 8% per annum Compunded…

Q: You borrowed $5,000 for 24 months at 6% interest. What is the total payback on the Single Payment…

A: Total payback on the Single Payment loan - It es the payback of the loan at a single payment…

Q: 3. A 10,000 loan is taken out and the interest rate is 8 percent effective. Payments are made on the…

A: GIVEN, Loan is taken  - $10000            Interest rate  - 8% Paayment is to be completed in 10…

Q: Assume you have secured a loan of $10,000 from a bank which will be paid in one year. The fin bank…

A: Loan: The duration of a loan, or the amount of time it takes for a loan to be repaid in full when…

Q: Assume you graduate from college with $35,000 in student loans. If your interest rate is fixed at…

A: Monthly payment = PV/(1-(1+i)-n)/i Where PV - Loan amount i.e. $35,000 i - Interest rate i.e.…

Q: Jack borrows $7,000.00 at an interest rate of 15% compounded monthly to be paid off monthly payment…

A: Answer Correct option $6,467.70

Q: You are considering taking out a loan of $14,000.00 that will be paid back over 8 years with monthly…

A: Equity in a home refers to how much of that home's value a person has already invested in it.

Q: When interest is charged on the unrecovered balance, if you borrow $10,000 at 10% per year interest…

A: Whenever loan is taken, interest is required to be paid on that loan. That interest calculation can…

Q: If you borrow $29834 with an annual rate of 12% compounded monthly and make a payment of $403 every…

A: The borrowing is the amount that is borrowed by the person, a company from any of the financials…

Q: 7. If you want to collect ¢ 5,000,000 in 4 years and for this you make deposits every end of the…

A: N = 4*12 FV = 5,000,000 rate = 18%/12 PV = 0 use PMT function in Excel value of deposit before…

Q: How much interest is payable each year on a loan of $4,000 if the interest rate is 10% (simple…

A: Following is the answer to the given questions

Q: f you borrowed $12,000 for 8 months at 7% annual simple interest, how much must you repay at the end…

A: Interest = Principal * Time * Rate

Q: John Johnson borrowed $15,550 from a bank for three years. If the quoted rate (APR) is 5.20 percent,…

A: In the given question we need to compute the effective annual interest rate (EAR) if the nominal…

Q: Saud borrowed $90,000 now. He will pay off the loan with 10 equal quarterly payments. The first…

A: To find the quarterly payment one can apply the formula in excel called PMT which calculates the…

Q: Consider a conventional fixed-rate 30-yr loan for 100,000 at 10%. a. What is the total payment and…

A: Answer -   Here's the formula to calculate EMI: where E is EMI P is Principal Loan Amount   The…

Q: Company A expect to have $1000 in one year.  A bank is offering loans at 6% interest per year, how…

A: Given: Amount that is expected in one year (C) = $1000 Interest rate (r) = 6% =0.06 Number of years…

Q: What monthly payment is required to pay off a $40,000 loan in seven years if the interest rate is…

A: Loan Payment: These represent periodic payments made by the borrower for borrowing a sum of the…

Q: Assume you have secured a loan of $10,000 from a bank  which will be paid in one year. The fin bank…

A: Closing Balnace = Opening Balance + Interest @ 0.31% - Monthly Installments

Q: 8- Suppose that you obtain a loan from a bank. The loan amount is 60.000 TL and has a 5 years…

A: To Calculate the annual interest rate on term deposit, first we have to calculate the Installment of…

Q: . Suppose you are paying GHS 51.88 per week for 14 years to repay a GH¢18,000 loan. What is the…

A: Effective interest rate is interest considered due to effect of compounding and that is interest on…

Q: 2. Suppose the interest on a $10,000 debt is 8% compounding quarterly. You plan on making 10 equal…

A: P= $10,000 r= 8% compounding quarterly= 0.08/4= 0.02 n= 10 years= 40 periods   Calculate the annual…

Q: Travis International has a debt payment of $2.36 million that it must make 4 years from today. The…

A: The PMT function or concept can be used to determine the periodic payments required to accumulate a…

Q: you miss the 10th to 13th payments of a loan. The loan payments are 519.27 each month and the…

A: Laon outstanding = the present value of all future payments at applicable interest rate. And the…

Q: If $5,000 is borrowed today and $8,955 is paid back in 9 years, what interest rate compounded…

A: Here, Borrowed Amount (PV) is $5,000 Paid Back Amount (FV) is $8,955 Time Period is 9 years

Q: You have taken out a 60​-month, ​$27,000 car loan with an APR of 7​%, compounded monthly. The…

A: Amount towards Interest = Outstanding balance*periodic interest rate Amount towards principal =…

Q: A loan is to be repaid quarterly for 9 years that will start at the end of 4 years. If the interest…

A: Quarterly payment (Q) = 10000 First payment starts after 16 quarters. Number of payments (n) = 36…

Q: A $60,000 loan with interest at 6% compounded quarterly is being paid off with monthly payments of…

A: The notion of the time value of money (TVM) states that an amount of money is worth more now than it…

Q: You have maxed out your $10,000 credit card, which is being charged 12.8% annual interest compounded…

A: Calculation of minimum monthly and weekly payments:Answer:The minimum monthly payment and weekly…

Q: How much money will be required four years from today to repay a ₱2,000 loan that  is made today at…

A: The money required to pay after four years can be calculated as the future value of loan

Q: We assume that we have a secured a loan of $10,000 from a bank which will be paid in one year. The…

A: Loan: The duration of a loan, or the amount of time it takes for a loan to be repaid in full when…

Q: Suppose you run up a debt of $300 on a credit cardthat charges an annual rate of 12 percent,…

A: Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other…

Q: If you borrowed S 15,000 to be repaid in 20 equal quarterly payments and after your 10th payment you…

A: Present value refers to the current valuation for a future sum. Investors determine the present…