Q: You borrow a five-year $13,000 loan with monthly payments of S250. What is the annual percentage…
A: PV = 13000, PMT = -250, N = 5*12, FV = 0 use rate function in Excel monthly rate = 0.48%
Q: What is the payment for a loan of $320000 with an interest rate of 8.13% compounded monthly for 6…
A: using financial calculator to solve the monthly payment
Q: A $50,000 interest only mortgage loan is made for 30 years at a nominal interest rate of 6 percent.…
A: Part (a): Answer: Monthly payments on loan $250 Calculation of daily accrued interest:
Q: A loan of $14,800 is to be amortized with quarterly payments over 7 years. If the interest on the…
A: Installment is the amount of periodic payments a borrower makes to its lender in order to pay back…
Q: Pacific Bank offers you a $150,000, 6-year term loan at 10 percent annual interest. What will your…
A: Present value of annuity = P * {1-[1/(1+r)^n]/r} Where, Present value of annuity =150000 n= 6 r =10%…
Q: A $16000 loan is to repaid by monthly payments of $340, the first payment is due in one year's time.…
A: Repayment of loan is made in fixed instalments for during the loan period which include part of…
Q: Your car loan requires payments of $1,000 per month over the next18 months and payments of $2,000…
A: The concept of time value of money will be used here. As per the concept of time value of money the…
Q: Prepare an amortization schedule for a three year loan of P90,000. The interest rate is 10% per…
A: Amortization means paying the debt over the period through regular payments. Amortization schedule…
Q: What is the principal remaining after 20 monthly payments have been made on a $20,000 five-year…
A: A loan amortization table is a schedule of payment of loan which includes the bifurcation of…
Q: The purchase of a car requires a $15,000 loan to be repaid in monthly installments for four years at…
A: Computation:
Q: Prepare an amortization schedule for a three year loan of $57,000. The interest rate is 8% per year,…
A: Given: Loan amount = $57,000 Interest rate =8% Years = 3
Q: A loan of size L is to be paid off by payments of 2000 each year for 10 years. The principal repaid…
A: The question is based on the concept of loan amortization and sinking fund. The question can be…
Q: Laurier Inc. has borrowed $ 65000 from its bank. The annual interest rate on the loan is 4%…
A: Solution Given Amount borrowed $65000 Interest rate 4% Compounding Annually…
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: You plan to borrow $10,000 from the bank. For a four-year loan, the bank requires annual end-of-year…
A: Present value is the sum of money that must be invested to achieve a specific future goal. Future…
Q: You have a student loan of 25000 with a fixed Apr of 6 % for 15 years what is the monthly payment…
A: Using excel PMT function
Q: A loan of $11,300 is to be amortized with quarterly payments over 6 years. If the interest on the…
A: Time value of money is the concept where the value of money today is higher than the value of money…
Q: What is the effective rate of a 15% discounted loan for 90 days, P200,000, with 10% compensating…
A:
Q: A loan of $15,000 requires monthly payments of $477 over a 36-month period of time. These payments…
A: APR is the annual percentage rate. It is the interest rate charged from the borrower of the loan and…
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: A 200,000 dollar loan is taken out. Interest is 6 percent nominal, converted monthly. The loan is to…
A: we will only answer the first three subparts . For the remaining subparts, please resubmit the…
Q: Prepare an amortization schedule for a three year loan of P90,000. The interest rate is 10% per…
A: A loan refers to borrowed money taken by a person from a lender in case of a shortage of money. It…
Q: what is the monthly payment for a loan of 140,000 30 year fixed rate of Apr of 7.5% what is the…
A: Using excel PMT function
Q: You borrow $30,000 for 10 years to pay tuition and fees. The annual interest rate is 12 percent.…
A: To calculate the monthly payment amount we will use the below mention formula Monthly payment =…
Q: You buy items costing $800 and finance the cost with a fixed loan installment for 18 months at 5%…
A: As we are told that interest rate charged on the loan is simple and not compounding, moreover we are…
Q: A loan for P 50,000 is to be paid in 3 years at the amount of P65,000. What is the effective rate of…
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: A personal loan for $20,000 has an interest rate of 12% over 5 years with monthly payments. What is…
A: Equated Monthly Instalment(EMI) means a part of the equally divided monthly amount paid for the…
Q: PLEASE DO THE FOLLOWING ON AN EXCEL SPREADSHEET: Consider a loan of $1,000,000 with the nominal…
A: Given information : Loan amount $1,000,000 Annual interest rate 10% Time period (years) 15…
Q: A demand loan of $3000.00 is repaid by payments of $1500.00 after two years, $1500.00 after four…
A: Initial principal amount = $3000 Rate of interest for Ist 2 years = 5% per year Total amount after 2…
Q: A $25,000 loan has a yearly 3.2% interest applied to it monthly. The loan is being paid off with…
A: Monthly payment refers to the periodic payment extended by the borrower against loan repayment. The…
Q: Consider a loan of 800,000 which is to be amortized by 60 monthly payments. The interest rate is 12%…
A: Monthly payment is the portion of the loan amount along with the interest that is paid every month.…
Q: The monthly payment on an 8%, 36-month, add-on loan for $10,000 would be
A: Information Provided: Rate = 8% Time = 36months or 3years Principal = $10,000
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: 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: Establish loan amortization schedules for 3- year loan of 20.000 (initial loan) with equal payments…
A: Given Years 3 Loan 20,000.00 RATE 5%
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: A $550.000 home loan is amortized by equal monthly payments for 25 years at a nominal rate of…
A: A loan is the borrowing that is taken by a borrower from a lender. A loan is most commonly taken…
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 20 year loan is being repaid in equal annual ins he amount of interest in the last payment is $90.…
A: Present value of annuity With annuity or equal payment (PMT), interest rate (r) and period (n), 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: What is the size of eight equal annual payments to repay a loan of$1,000? The first payment is due…
A: PV = 1000 FV = 0 rate = 10% N = 8 use PMT function in Excel
Q: A loan of P95000 is borrowed for 240 days at a simple interest rate of 12.3 percent per year. What…
A: Loan amount (P) = P95000 Interest rate (r) = 12.3% Period (t) = 240 days = 240/365 =…
Q: Monthly payments are required on a $45,000 loan at 6.0% compounded monthly. The loan has an…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Prepare an amortization schedule for a three-year loan of $60,000. The interest rate is 6 percent…
A: The amortization schedule can be prepared as follows:
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…
Q: How much interest is paid in the third year? How much total interest is paid over the life of the…
A: Loan: It is the sum of money given to the borrower by the lender for a period of time. In return,…
A five year $10 000 loan requires $2770 annual payments. What is the interest rate
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?Calculating and comparing add-on and simple interest loans. Eli Nelson is borrowing 10,000 for five years at 7 percent. Payments, which are made on a monthly basis, are determined using the add-on method. a. How much total interest will Eli pay on the loan if it is held for the full five-year term? b. What are Elis monthly payments? c. How much higher are the monthly payments under the add-on method than under the simple interest method?Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?
- Cost of Bank Loan Mary Jones recently obtained an equipment loan from a local bank. The loan is for 15,000 with a nominal interest rate of 11%. However, this is an installment loan, so the bank also charges add-on interest. Mary must make monthly payments on the loan, and the loan is to be repaid in 1 year. What is the effective annual rate on the loan (assuming a 365-day year)?Calculating single-payment loan amount due at maturity. Stanley Price plans to borrow 8,000 for five years. The loan will be repaid with a single payment after five years, and the interest on the loan will be computed using the simple interest method at an annual rate of 6 percent. How much will Stanley have to pay in five years? How much will he have to pay at maturity if hes required to make annual interest payments at the end of each year?Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600