A house costs $142,000. It is to be paid off in exactly ten years, with monthly payments of $1,779.64. What is the APR of this loan? A. 6.75% О в. 8.75% ос. 7.75% D. 9.75%

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

Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…

A: The number of months required to pay the amount can be calculated with the help of NPER function of…

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

A: Loan Amount = 1,000,000 Interest Rate = 10% Time Period = 60

Q: due at the end of 2 years and 9 mon 26. Find the semi-annual payment at the end of every six months,…

A: An annuity is a payment plan where future periodic payments are made in exchange for a lump sum…

Q: A P150,000 loan is to be paid as follows: P 10,000/month _______ 1st to 10th month Final payment…

A: Loan = 150,00 Time Period = 12 months Interest Rate = 12%/12 = 1% per month Payment from 1st to 10th…

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: A house costing RM120,000 cash is purchased by making a down payment of RM40,000 and the balance is…

A: The question is based on the concept of amortization of loan and to find the equal monthly…

Q: A person buys a piece of lot for P110,000 down payment and 10 deferred semi-annual payments of P…

A: Present value of all payments is calculated by using discount rate factor and then multiplying the…

Q: You borrow $30,000 for 10 years to pay tuition and fees. The annual interest rate is 12 percent.…

A: Loan amount (P) = $30,000 Interest rate = 12% Monthly interest rate (i) = 12%/12 = 1% Period = 10…

Q: A house costs $144,000. It is to be paid off in exactly ten years, with monthly payments of…

A: The Annual Percentage Rate(APR) of the loan can be calculated using the RATE function in Excel.

Q: How much will be paid every three months for a loan that amounts to P1 400 500.00 if money is worth…

A: Loan amount = P1,400,500  Interest rate = 518% = 418% = 5.125% Time period = 20

Q: MMS Corp borrows $1,650,000 today for a new building. The loan is an equal principal payment loan…

A: Computation of payment due amount:Hence, the due amount is $20,219.95 or $20,220.

Q: If you borrow $3,000 at 6% simple interest per year for seven years, how much will you have to repay…

A: Amount borrowed=$3000Interest rate=6%Number of years=7

Q: You are offered payments of P1500.00 at the end of each quarter for 6 years.  You feel that the…

A: The cash value is the present value of annuity calculated on the basis of a specified rate. Annuity…

Q: A loan of P30,000 was made with a rate of 15% annually. How many years will he pay an amount of P…

A: Loan amount  is P30,000 Rate"r" is 15% Annually Total Interest paid is P6,000 Future Value is…

Q: MMS Corp borrows $1,650,000 today for a new building. The loan is an equal principal payment loan…

A: Calculation of Interest Payment due in Month 16:The interest payment due in month 16 is…

Q: If you deposit RM15,000 in an account earning 20% with semi annually compounding, how much would you…

A: Compounding is a way to find the FV of a deposited amount by considering the appropriate rate for…

Q: A loan of $4000 at 7.5% compounded monthly requires three payments of $1000 at 6, 12, and 18 months…

A: Compound interest means the interest on the principal plus the accumulated interest on the previous…

Q: Hazli borrows an education loan from Usaha Bank for RM24,000. The payments will be made in…

A: Loan amount (PV) = RM24,000 Interest rate (r) = 10% Number of annual payments (n) = 5

Q: An engineer wants to purchase a house for $100,000 and has $20,000 cash to use as the down payment.…

A: Cost of house = $100,000 Down payment = $20,000 Interest rate = 9% Time period = 20 years  Payment…

Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…

A: The number of months required to pay off the amount can be calculated with the help of NPER function…

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: An air conditioner is for sale at P20,000 in cash or on terms, P1,650 each month for the next 18…

A: Given,  The sale price is P20,000. Payment is P1650 for each month is 6% compounded monthly Number…

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 house costs $147,000. It is to be paid off in exactly ten​ years, with monthly payments of…

A: Given information: Cost of house is $147,000 Monthly payment is $1,783.52 Number of years is 10

Q: A $67,000 loan is taken out on a boat with the terms 9% APR for 36 months. How much are the monthly…

A: Payment per period can be calculated using PMT function in excel.   PMT(rate, nper, pv, [fv],…

Q: A loan is to be repaid by $1250 in 1.5 years and $1750 in three years and three months . The…

A: Given information: Loan to be repaid is $1,250, Number of years is 1.5 Outstanding loan amount is…

Q: If you borrow $3,600 to buy a car at 15% per year compounded monthly, to be repaid over the next…

A: Monthly Payment = P x r / [1 - {1 / (1 + r)^n}] Here, P = Present Value or Loan Amount i.e. $3600 r…

Q: A house costs $142,000, It is to be paid off in exactly ten years, with monthly payments of…

A: The annual interest rate that is charged by the lenders or at which the investors earn additional…

Q: To pay off a loan of R7 000 due now and a loan of R2000 due in 14 months' time, Olorato agrees to…

A: 1st Loan Amount = R 7,000 2nd Loan Amount = R 2,000 Interest Rate = 16%

Q: A loan of $28,000.00, made 6 months ago, will be repaid by 3 equal payments – one today, one in 11…

A:

Q: A person buys a piece of lot for P 100,197 down payment and 12 deferred semi-annual payments of P…

A: Down payment (DP) = 100,197 Interest rate = 0.186 Semi annual interest rate (r) = 0.186/2 = 0.093…

Q: A person borrows $15,000 at an interest rate of 6%, compounded monthly, to be paid with payments of…

A: A concept through which it is studied that the current worth of money is higher than its future…

Q: You are offered payments of P1500.00 att he end of each quarter for 6 years. You feel that the cost…

A: The present value of future and periodic cash flows is the value of these cash flows at the present…

Q: You havefound the house of your dreams. The selling price is Php. 175,000.00 with an interest rate…

A: monthly rate of interest = 5.5%/12   a. n = 30*12, FV = 0, rate = 5.5%/12, PV = 175,000 use PMT…

Q: Engr. Odon is paying a loan five thousand pesos 10% quarterly for 3 years. It the payment is to…

A: The question is based on the concept of present value and future value calculation.

Q: How long (in years) will it take to repay a $100,000 loạn taken out today at 7% compounded monthly,…

A: The time value of money is the one widely used by companies and individuals to determine the current…

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 payment of $14,455 is due in 2 year, $18,000 is due in 4 years, and $8,450 is due in 7 years. What…

A: The question is based on the concept to calculate present value of expected future cash flows at…

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 construction company takes a loan of $535,000 to cover the cost of a new grader. If the interest…

A: the annual percentage rate is also called a nominal rate, it is an interest rate for an annum

Q: Consider a loan of 800,000 which is to be amortized by 60 monthly payments. The interest rate is 12%…

A: Solution:- When an amount is borrowed, it can either be repaid as lump sum payment or in…

Q: A loan of $8000 will be discharged by a cash payment of $3200 now; $1800 at the end of 4 years; $600…

A: Present Value refers to the value of cash flows today which is to be received at some future time…

Q: Auto loan requires payments of 300 Rial at the end of each interval for 3 years at a nominal annual…

A: Calculation of Payment Intervals and Accumulated Amount: Excel Spreadsheet: Excel Workings:

Q: A house costs $148,000. It is to be paid off in exactly ten years, with monthly payments of…

A: Following details are given in the question: Cost of House (Present Value) = $148000 Monthly payment…

Q: a) For a loan of $55,000, with an annual interest rate of 5 % p.a. compounded monthly, and monthly…

A: Interest is an expense which is calculated on the principal amount.

Q: A loan is to be repaid by $1500 in one year and $2250 in four years. The borrower has asked to repay…

A: Outstanding loan amount is $1500 (due in 1 year) and $2250 (due in 4 years). Present value and…

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: