A loan of $1400 is being paid off by quarterly payments of $130. If interest is at the rate of 14% compounded quarterly, how many full payments will be made? full payments will be made on the loan. (Type a whole number.)
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- 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.Consider a loan of 800,000 which is to be amortized by 60 monthly payments. The interest rate is 12% converted monthly. 1. How much is the outstanding balance after the 36th payment? 2. How much of the 37th payment goes to pay the interest the principal?Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is 10% converted monthly. How much of the 47th payment goes to pay the interest? How much of the 47th payment goes to pay the principal?
- Suppose a borrower makes a $100,000 loan with annual payments at a 10 percent rate and a 10-year term. The loan is fully amortizing; however, payments are made on an annual basis to simplify the initial illustration. How the annual loan payment is calculated?A $17000 loan is to repaid by monthly payments of $390, the first payment is due in one year's time. If interest is charged at a rate of jyz = 10%. determine the number of regular monthly payments and the size of the final larger payment. a)Number of payments: bjFinal larger payment: $Suppose that one has a bank loan for P15,584.48, which is to be repaid in equal end-of-month installments for 9 years with a nominal interest rate of 0.114 compounded monthly. What is the amount of each payment?
- A loan of $11,300 is to be amortized with quarterly payments over 6 years. If the interest on the loan is 16% per year, paid on the unpaid balance, answer the following questions. a. What is the interest rate charged each quarter on the unpaid balance? b. How many payments are made to repay the loan? c. What payment is required quarterly to amortize the loan? a. The interest rate each quarter is %. b. There will need to be payments made. c. The quarterly payment needs to be S (Round to the nearest cent as needed.)1. A loan of $2000 taken out today is to be repaid by a payment of $1200 in six months and a final payment of $1000. If interest is 10% compounded monthly, when should the final payment be made?2. Assume we have a $14,500,000 loan with a 2.25% interest rate, with an annual payment of $750,000. Calculate the number of years required to repay the loan.
- What is the internal rate of return on a $3,000 loan to be repaid as $3,500 twoyears from now?Consider a loan of $98,000 at 7% compounded annually, with 12 annual payments. Find the following. (a) the payment necessary to amortize the loan (b) the total payments and the total amount of interest paid based on the calculated annual payments (c) the total payments and total amount of interest paid based upon an amortization table. ... (a) The annual payment needed to amortize this loan is $ (Round to the nearest cent as needed.) (b) The total amount of the payments is $ (Round to the nearest cent as needed.) The total amount of interest paid is $ (Round to the nearest cent as needed.) (c) The total payment for this loan from the amortization table is $ (Round to the nearest cent as needed.) The total interest from the amortization table is $ (Round to the nearest cent as needed.)1. Assume we need $350,000 and a loan will be given to us at a 6.5% interest rate, with a monthly payment of $2,500. Calculate the number of months required to repay the loan.
