hat is the maturity value of the loan if the proceeds is P22,000 at the rate of 10% for 10 months? P 24,000 is the answer show complete solution
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P 24,000 is the answer show complete solution
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- 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?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?Define the stated (quoted) or nominal rate INOM as well as the periodic rate IPER. Will the future value be larger or smaller if we compound an initial amount more often than annually—for example, every 6 months, or semiannually—holding the stated interest rate constant? Why? What is the future value of $100 after 5 years under 12% annual compounding? Semiannual compounding? Quarterly compounding? Monthly compounding? Daily compounding? What is the effective annual rate (EAR or EFF%)? What is the EFF% for a nominal rate of 12%, compounded semiannually? Compounded quarterly? Compounded monthly? Compounded daily?
- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383What is the maturity value of the loan if the proceeds is P22,000 at the rate of 10% for 10 months? What is the maturity value of the loan if the proceeds is P22,000 at the rate of 10% for 10 months?What is the maturity value of a 40,000 loan after 3 years if the rate of interest is 6% per annum? Choices: a. 47,200 b. 48,000 c. 45,000 d. 42,670
- A $ 200 000 loan is made with 30 years maturity and monthly compounded. The loan is based on a teasing rate of 2% and the market rate is 6%. The difference will be added to loan balance after 1 year and reset date is 1year. After that, the new pay rate is 7%. a)What is the PMT in year 1? What is the loan balance at the end of year 1 ? b) What is the PMT in year 2? What is the loan balance at the end of year 2?What is the yield to maturity on a simple loan for$1,500 that requires a repayment of $15,000 in fiveyears?How much interest will be owed on a loan of P15,500 at the end of 4 years and 7months using 15 percent simple interest per year?
