A Loan of $420,000 1 2 i, nominal rate per annum i/m, rate per month 3 4 n (years) 5 m 6 n'm, number of monthy repayments 7 Loan 8 End of month repayment B 4.50% 0.38% 4.3 12 51.40 $420,000 $9,000.00 Recreate the above table in your own version of excel. At a rate of 4.5%p.a compounding monthly, to repay the loan you see that 51 full repayments of $9,000 are required in addition to a smaller final repayment. If the interest ra s changed to 17.6% p.a. compounding monthly, how many full repayments $9,000 will be required to repay the loan? (answer by rounding down to who numbers to reflect full repayments.eg 51)

A Loan of $420,000 1 2 i, nominal rate per annum i/m, rate per month 3 4 n (years) 5 m 6 n'm, number of monthy repayments 7 Loan 8 End of month repayment B 4.50% 0.38% 4.3 12 51.40 $420,000 $9,000.00 Recreate the above table in your own version of excel. At a rate of 4.5%p.a compounding monthly, to repay the loan you see that 51 full repayments of $9,000 are required in addition to a smaller final repayment. If the interest ra s changed to 17.6% p.a. compounding monthly, how many full repayments $9,000 will be required to repay the loan? (answer by rounding down to who numbers to reflect full repayments.eg 51)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 8E: Cash Flow Amounts R. Lee Rouse borrows 10,000 that is to be repaid in 24 equal monthly installments...

See similar textbooks

Similar questions

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
Cash Flow Amounts R. Lee Rouse borrows 10,000 that is to be repaid in 24 equal monthly installments payable at the end of each subsequent month with interest at the rate of 1% per month. Required: Using the appropriate table, calculate the equal installments.
A loan of 109,517.20 is being repaid with level annual payments of Kat an annual effective interest rate of 5%. The principal repaid in the20th payment is 61.Determine K. Using Actuarial Notation
Ma3. A loan is amortized by level payments made at the end of each quarter, for 25 years: The monthly rate is 1%. The principal in the 29th payment is 8370. Find OLB69 OA. 1,115,185.53 OB. 1,101,108.22 OC. The correct answer is not shown here. OD. 1,430,370.34 OF. 1,301,108.22
h.Money borrowed today is to be paid in 6 equal paymentsat the end of 6 quarters. If the interest is 12% compoundedquarterly, how much was initially borrowed if quarterlypayment is P2,000.00? include a non-excel cashflow
A loan of 109,517.20 is being repaid with level annual payments of K at an annual effective interest rate of 5%. The principal repaid in the 20th payment is 61. Determine K.
A $42,000 loan is repay with semi annual payment of $5000. What is the size of the final payment of money is borrowed at 6% Compounded semi annually? A. $4125.09 B. 4227.79 C. 4004.94 D 4114.35 E 3090.00
A debt of $10,000 is to be repaid by equal Monthly payments at the end of every month for 1 year. Interest is 6% compounded Semi-Annually. What is the size of the payment? Question options: $810.94 $851.72 $860.33 $856.10 Solve on white paper or typed. Not in excel
22. If $120,000 is borrowed to AIB at 15% interest to be paid back over 20 years, how much of the fifteen year's payment is interest (assume annual loan payments)? Hint: 1. Compute PMT 2. Compute the PV at the end of year 14 and the PV at the end of year 15. Compute the difference; you get third year's principal payment. 3. Interest = PMT - 15th year's principal payment. A. $10,883. B. $15,598. C. $16,789. Please provide an accurate answer.
Q11 To borrow $1,900, you are offered an add-on interest loan at 6 percent. Three loan payments are to be made, one at four months, another at eight months, and the last one at the end of the year. Compute the three equal payments. (Round your answer to 2 decimal places.) THREE EQUAL PAYMENTS?
. Estimate the duration of Loan MBank Balance SheetCash = $ 50Loan M (7%, 6 years) = $200Deposit N (3 years, 2%) = $ 200Equity = $ 50Total Assets = $250Total Liabilities = $ 250 a. 3.1 years b. 4.1 years c. 5.1 years d. 6.1 years
Q7. The annual payment of alorry is 40, 000 Euro find out theloan amount which is granted for4 years and the interest rate is8%, prepare an amortizationtable for this loan