A $26,000 loan is repaid with quarterly payments of $900 at 3.20% compounded semi-annually. How many payments are required to settle the loan? Round up to the nearest whole payment.

Q: A debt of $4,000.00 is to be paid off with 8 equal semi-annual payments. If the interest rate is 15%…

A: Repaying debt in equal instalments is a type of annuity. That is any number of payments of equal…

Q: the interest rate on 6400 loan is 10% componded semi annually. if the loan is to be repaid by…

A: A loan amortization table is the schedule of repayment of a loan it includes the bifurcation of…

Q: A loan of $381,000 at 2.72% compounded quarterly was to be settled with month-end payments of…

A: Individuals and businesses use loans or mortgages to buy assets without paying the entire purchase…

Q: Calculate the present value of a loan that could be cleared by payments of $3,250 at the end of…

A: Present value of loan ca be calculated by using loan amortisation formula. Present value of loan(P)=…

Q: What size monthly payments should occur when $10.000 is borrowed at 6% per year compounded monthly…

A: When the interest on interest is charged on monthly basis, it is known as monthly compounding. It…

Q: A P15,000 loan at 6% compounded semi- annually is to be amortized in 6 months. Find the monthly…

A: monthly rate = (1 + 6%/12)1/6  -1 = 0.49386% N = 6 FV = 0 PV = 15,000 use PMT function in Excel…

Q: A loan of P47,300 is to be amortized by equal payments each month for 6 months . If interest is 12%…

A: Present Value of Ordinary Annuity refers to the concept which gives out the discounted or today's…

Q: A loan is amortized over five years with monthly payments at a nominal interest rate of 12%…

A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…

Q: Consider a loan of $98,000 at 7% compounded annually, with 12 annual payments. Find the following.…

A: Loan amortization can be defined as the procedure of amortizing the loan in such a way that the loan…

Q: Find the payment necessary to amortize a 4% loan of $2100 compounded quarterly, with 19 quarterly…

A: Payment size: It implies to the amount of payment that is made in respect of a loan at regular…

Q: A$11,000 loan bearing interest of 5.40% compounded quarterly was to be repaid with payments - the…

A: Compound Interest Interest calculation has two type one is simple interest and another one is…

Q: A loan of P12, 500 is to be repaid with equal quarterly payments for one year with an interest of 6%…

A: Amortization table is a schedule which shows periodic lease or loan payments. The periodic payment…

Q: $25,000 is borrowed at an annual compound rate of 8%. The loan is repaid with 5 annual payments,…

A: Loan amount is the amount that is borrowed

Q: You obtain a loan for 1,500,000 payable in three equal annual installments of 500,000 each. Interest…

A: Annual principal payment = 500,000 Interest rate =10% Effective rate = 12%

Q: $20,000 loan is being repaid by installments of $400 at the end of each month for as long as…

A: Amortization schedule is a table in which period payment or installment paid and the amount of loan…

Q: What rate compounded monthly was charged on a loan of ₱3500.00 repaid in monthly installments of…

A: Loan = 3500 Monthly Installment = 107.19 Time Period (N) = 39 months

Q: A $17000 loan is to repaid by monthly payments of $390, the first payment is due in one year's time.…

A: given, pv = $17000 pmt = $390 r=10% m=12

Q: A loan of 7 quarterly payments of Php.8,300 is to be made, to pay for a loan at 10% compounded…

A: Interest rate                = 10% per annum Interest rate                = 2.5% per quarter…

Q: A loan of 10.000 TL is repaid in equal annual installments at 10% effective interest rate per year.…

A: Given: Loan amount= 10000 TL Annual effective rate =10% Interest amount in third payment = 868.24…

Q: $25,000 is borrowed at an annual compound rate of 8%. The loan is repaid with 5 annual payments,…

A: P= $25,000 Rate= 8% compounded annually Time= 5 year (annual payments)

Q: A $28,000 loan is repaid with quarterly payments of $1,100 at 2.90% compounded semi-annually. How…

A: An interest rate method in which current interest is computed by multiplying the interest rate by…

Q: A loan of $401,000 at 5.02% compounded quarterly was to be settled with month-end payments of…

A: Future worth is computed by multiplying the existing value with a given interest rate.

Q: pan of $30,000 is to be financed over a period of 24 months. The agency quotes a nominal interest…

A: in this we have to find equivalent effective interest rate and use as annual interest rate.

Q: Find the payment necessary to amortize a 4% loan of $900 compounded quarterly, with 15 quarterly…

A: Quarterly compounding is a form of compounding in which interest is earned every quarter and such…

Q: An amount of $15,000 is borrowed from the bank at an annual interest rate of 12%. Solve, a.…

A: Annuity Factor = [1-(1 + Interest Rate)-No. of periodsInterest  Rate…

Q: A total of $50,000 is borrowed and repaid with 60 monthly payments, with the first payment occurring…

A: monthly payment formula: monthly payment=p×rm1-1+rm-m×n where, r=rate p=principal m=frequency of…

Q: A loan of $10,000 is repaid by 20 level installments at the end of every 6 months. The nominal rate…

A: Loan refers to the amount borrowed which creates liability for fund receiver and level installments…

Q: 20000 TL loan is being repaid by installments of 100 TL at the end of each month for as long as…

A: given information total loan = 2000 pmt = 100 interest = 12%

Q: A $24,100 loan is to be settled by making payments of $6,980 at the end of every 3 months. The…

A:

Q: Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is…

A: Monthly payment is the portion of the loan amount along with the interest that is paid every month.…

Q: 2. Monthly payments of P800 each are used to settle a loan for 8 months at 8% compounded monthly.…

A: Present value of annuity is the present value of all the stream of cash flow that occur in future.

Q: A $250,000 loan, with annual interest at 5.7%, c/sa, requires semi-annual, end of period payments of…

A: Loan is contract between lender and borrower where lender provide funds to borrower for definite…

Q: A $35,000 loan at 4% compounded quarterly is to be repaid with six equal quarterly payments. The…

A: The total present value of all future installments to be paid is equal to the current value of loan.…

Q: How is the manthly pay ment Of P350,000 loan which is to be repaid monthly for 1 year with an…

A: Given: Loan = 350,000 Years = 1 Interest rate=10%

Q: A $7500 loan at 9% compounded monthly requires three payments at five month intervals after the date…

A: The loan is the borrowed money that has to return at the specified period with the given rate of…

Q: A $14,000 loan is to be amortized for 10 years with quarterly payments of $511.78. If the interest…

A: An amortized loan is a type of loan with scheduled, periodic payments that are applied to both the…

Q: Monthly payments of P800 each are used to settle a loan for 8 months at 8% compounded monthly, Find…

A: Monthly payment (M) = P 800 Number of payments (n) = 8  r = 8% per annum = 0.667% per month

Q: A loan of P3,000 is repaid by a payment of P3,500 made 24 months later. What is the annual…

A: Loans payment carry the payment of principal amount and also payment of principal amount also.

Q: $10,000 is borrowed at 10% a year interest for five years. At the end of each year, the borrower…

A: Computation:

Q: A loan of $7000.00 is repaid by payments of $450 at the end of every three months. Interest is 6%…

A: Using excel NPER function

Q: A loan of $18,000 is to be financed over a period of 24 wmonths. The agency quotes a nominal…

A: Given:Loan amount=$18000Financed time period=24 monthsNominal interest rate =8% for first 12…

Q: How many monthly payments are required to repay a loan of $12,000 with an interest rate of ¾% per…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: A loan of RM8,500 at 6% compounded monthly is to be amortized by 18 monthly payments. Calculate the…

A: Loan (L) = RM 8500 r = 6% per annum = 0.5% per month n = 18 payments Let X = Monthly payment

Q: A recent graduate's student loans total $18,000. If these loans are at 4.2%, compounded quarterly,…

A: Given: Loan = $18,000 Interest rate = 4.2% Years = 6

Q: Find the amount applied to principle for the third month of a 4-year loan of $19,000 which charges…

A: A principal payment is a payment made against the remaining balance of a loan.

Q: A loan of $ 7000 is to be repaid in 46 equal monthly installments with the first one paid seven…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: A loan of P 10,000 with 10% interest compounded semi-annually is to be amortized by semi-annual…

A: Loan (A0) = P10,000 Interest rate (r) = 10% compounded semi-annually = 10/2 = 5% Period (n) = 5…

Q: A recent graduate's student loans total $17,000. If these loans are at 5%, compounded quarterly, for…

A: Given: Loan amount = $17,000 Interest rate = 5% Years = 8

Q: A loan is being repaid by 20 level annual payments of R, where R is three times the amount of…

A: Given: Number of level annual payments: 20 Level payments: R R is three times interest accruing in…

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.