Find the effective interest rate for a $1,500 loan for four years compounded semiannually at an annual rate of 8%.

Find the payment R needed to amortize a loan of $22,000 at 3.5%/year compounded monthly with 36 monthly installments over a period of 3 years

Using the Add-On Method, calculate the monthly payment for a $ 8,500 loan that is borrowed for 3 years at an interest rate of 4%

103.

Find the payment necessary to amortize a 12% loan of $2300 compounded quarterly, with 12 quarterly payments. The payment size is $ (Round to the nearest cent.)

Find the interest paid on a 30-year loan of $350,000 at an annual interest rate of 6% compoundedmonthly. Assume that you made monthly payments for the full 30 years.

Find the payment necessary to amortize a 12% loan of $2000 compounded quarterly, with 18 quarterly payments. The payment size is $ (Round to the nearest cent.)

Determine the value of an ordinary annuity if $290 is deposited each month into an account earning 4.5% interest compounded monthly for 15 years.

Create the following payments for a loan of 240,000 that must be repaid in three years at a 12% annual interest rate: Plan 1: Pay principal and interest in one payment at the end of three years Plan 2: Pay interest at end of each year and principal at the end of three years Plan 3: At the end of each year, pay 80,000 principal plus interest due Plan 4: Pay in three equal end-of-year payments Show the payment plans by supplying the values in the table below. Solution: Year Amount owed at beginning of year Interest accrued for Total money owed at end of year Amount of principal paid Total end-of- year payment year Plan 1: Pay principal and interest in one payment at the end of three years 1 2 3 Plan 2: Pay interest at end of each year and principal at the end of three years 1 2 3 Plan 3: At the end of each year, pay P 80,000 principal plus interest due 1 2 3 Plan 4: Pay in three equal end-of-year payments 1 2 3

A loan of $92,800.00 is repaid by equal payments made at the end of every three months for 3 years. If interest is 8% compounded quarterly, find the size of the quarterly payments and construct an amortization schedule showing the payment number, amount paid, interest paid, principal repaid and outstanding principal balance of each payment. Additionally, include the totals for amount paid, interest paid and principal repaid of the loan.