How many months will it take you to pay off a loan of $11,000 at 3% APR compounded monthly if you make monthly payments of $925? Your Answer:

Q: In 9 years, Rollo Company will have to repay a $100,000 loan. Assume a 6% interest rate compounded…

A: Annuity refers to series of annual payment which are paid or received at start or end of specific…

Q: A car loan for $19,500 has an interest rate of 4.25% and is amortized over 60 months.  What is the…

A: Monthly payment of loans is popularly also known as EMI ( Equated Monthly Installments) which is a…

Q: What is the required quarterly payment to repay a loan of $30,000 in six years? If the interest rate…

A: Computation:

Q: A house costs $141,000. It is to be paid off in exactly ten​ years, with monthly payments of…

A: An amount of annual percentage which is charged from borrowers of the loan and paid to the…

Q: Suppose you have a loan of $120,000 at an APR of 4.4% for 1 year. a. Write an amortization schedule…

A: Loan Repayment and the Amortization Schedule: A loan can be repaid by making smaller equal payments…

Q: What amortization payment (in $) would you need to make each month at 24% interest compounded…

A: Amortization means the process of paying the debt. In this method, the amount of principal is the…

Q: You are considering taking out a loan of $10,000.00 that will be paid back over 9 years with…

A: loan amount (p)=$10,000 n=11 payment m=4 pmt=$360.02 r=5.9%

Q: You needed $10,000 and obtained the following loan: Loan specifics: You are expected to pay 24 equal…

A:

Q: If you invest $7,500 in an account paying 8.35% compounded continuously, how much will be in the…

A: In the simple interest, we calculate the interest amount which we will receive after the specific…

Q: A $40,000 new car loan is taken out with the terms 12% APR for 48 months. How much are monthly…

A: New car loan = $40,000 APR = 12% Time period = 48 Months

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: formula to be used = Future value=PMT(1+r/n)n*t-1)/r/n   PMT= Monthly payment R= interest rate N=…

Q: Assume you have secured a loan of $10,000 from a bank which will be paid in one year. The fin bank…

A: Loan: The duration of a loan, or the amount of time it takes for a loan to be repaid in full when…

Q: How long will it take to save $2581.00 by making deposits of $227.00 at the end of every month into…

A: Amount to be saved is $2581.00 Interest rate is 7% compounded monthly Monthly deposit $227 To Find:…

Q: Assume you have secured a loan of $10,000 from a bank which will be paid in one year. The fin bank…

A: Loan: The duration of a loan, or the amount of time it takes for a loan to be repaid in full when…

Q: How many months will it take you to pay off a loan of $17,000 at 7% APR compounded monthly if you…

A: The loan is taken in order to finance the purchase of the asset or for the purpose of expansion. The…

Q: If you borrow $10,000 over three years at 10% annual interest, what is the interestpayment in the…

A: Given Loan Amount =$10,000 Annual Interest Rate =10% Annual Payment =$4021.15

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

A: To calculate the monthly payment amount we will use the below mention formula   Monthly payment =…

Q: You need to have OMR 15000 in five vears to payoff a home loan. You can invest in an account that…

A: The Present Value of a lump sum: When a single amount is to be invested now, at a given interest…

Q: A new furniture set costs $ 2100. If you make a down payment of $ 300 and finance the rest at a rate…

A: In this question the monthly payment is to be find for the loan. Loan can be calculated by deducting…

Q: What monthly payment is required to pay off a $40,000 loan in seven years if the interest rate is…

A: Loan Payment: These represent periodic payments made by the borrower for borrowing a sum of the…

Q: A $25,000 loan has a yearly 3.2% interest applied to it monthly. The loan is being paid off with…

A: Monthly payment refers to the periodic payment extended by the borrower against loan repayment. The…

Q: Taking out a 21 year loan at $59,000 with 6% APR compounded monthly, and with monthly payments,…

A: Therefore, second principal payment is $117.9.

Q: Assume you have secured a loan of $10,000 from a bank  which will be paid in one year. The fin bank…

A: Closing Balnace = Opening Balance + Interest @ 0.31% - Monthly Installments

Q: What amortization payment (in $) would you need to make each month at 12% interest compounded…

A: MONTHLY PAYMENT (PMT) FORMULA: PMT=P×rm1-1+rm-m×n P=principal  r=rate of interest m=frequency of…

Q: How many months will it take to pay off a $705 debt, with monthly payments of $25 at the end of each…

A: EMI (EQUATED MONTHLY INSTALLMENT)- It is a fixed payment made by a borrowing party to the lending…

Q: You decide to buy a car for $16,000.00 and decide to make payments of $700 each month. If the loan…

A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…

Q: A new furniture set costs $ 2700. If you make a down payment of $ 300 and finance the rest at a rate…

A: The amount of repayment is the number of installments multiply by the installment amount. and the…

Q: You have taken out a 30-year loan of $55,000 with 6% interest (APR) compounded monthly and with…

A: An amount or asset borrowed by an entity from an individual or financial institution is known as a…

Q: money is in your account after 16 months?

A: Given: Investment amount = $3000 APR =  3% compounded monthly Since, Interest is compounded monthly,…

Q: payment

A: Monthly payments are nothing but the payment which has to be made by the borrower every month. The…

Q: A $35,000 loan at 4% compounded quarterly is to be repaid with six equal quarterly payments. The…

A: The total present value of all future installments to be paid is equal to the current value of loan.…

Q: What amortization payment (in $) would you need to make each month at 24% interest compounded…

A: in this you have to calculate monthly interest and period to monthly period and than from table you…

Q: A loan is to be repaid quarterly for 9 years that will start at the end of 4 years. If the interest…

A: Quarterly payment (Q) = 10000 First payment starts after 16 quarters. Number of payments (n) = 36…

Q: Find the size of monthly payment for 2 years on P85,000 if money is worth 12% compounded monthly and…

A: N = 2 years or 24 months Loan = 85000 Nominal Rate = 12% Compounded Monthly Number of compounding…

Q: Assume  you have secured a loan of $10,000 from a bank  which will be paid in one year. The fin bank…

A: A loan is an agreement where an amount is forwarded with the promise to pay it back along with some…

Q: Catherine obtained a loan of $40,000 at 4.5% compounded monthly. How long (rounded up to the next…

A: Solution:- When a loan is taken, the borrower is given the option whether to repay it in…

Q: A $60,000 loan with interest at 6% compounded quarterly is being paid off with monthly payments of…

A: The notion of the time value of money (TVM) states that an amount of money is worth more now than it…

Q: You have maxed out your $10,000 credit card, which is being charged 12.8% annual interest compounded…

A: Calculation of minimum monthly and weekly payments:Answer:The minimum monthly payment and weekly…

Q: How much money will be required four years from today to repay a ₱2,000 loan that  is made today at…

A: The money required to pay after four years can be calculated as the future value of loan

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: You plan to save money for a down payment of $37,000 to purchase an apartment. You can only afford…

A: Amount needs to save "FV" is $37,000 Savings per Quarter "PMT"  is $1,250 Interest rate is 3.71%…

Q: How many monthly payments are required to repay a loan of $12,000 with an interest rate of ¾% per…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: What amortization payment would you need to make every month, at 12% interest compounded monthly, to…

A: Monthly Payment is the payment that is to be paid monthly for a specific period of time to repay the…

Q: What is the monthly payment for a 5-year car loan of $14,000 that has an APR of 6% compounded daily…

A: An amortized loan is repaid in equal installments. Each installment comprises interest on loan…

Q: A new furniture set costs $ 2100. If you make a down payment of $ 700 and finance the rest at a rate…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…