John took a personal loan of $100,000 from the bank at a nominal interest rate of 6% per year compounded monthly. The loan is to be repaid in 4 years with 48 equal end-of-month payments

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A: Given information: George: Price of car : 18,000 Down payment : 20% Interest rate : 12% Time period…

Q: Daniel deposits $20,000 into an account earning interest at 6% per year compounded quarterly. He…

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

Q: Mark borrowed an amount of 10,865 from Brian and after 3 years, he borrowed again an amount of…

A: Equation of value : It is a concept where a sum of money has different values at different times.…

Q: Amna has a housing loan of $50,000 over 15 years with a 6% interest rate. According to the Bank he…

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Q: Ian loaned his friend $25,000 to start a new business. He considers this loan to be an investment,…

A: Calculation of annual payment and capital recovery schedule: Answer: The annual payment is $7,716.72

Q: Andrew Bolkonsky borrows $200,000 to purchase a house for investment purposes on January 1st 2006.…

A: The concept of present value states that a sum of money is worth today more than the same sum of…

Q: Elin purchased a used car for $15,000. She wrote a check for $3000 as a down payment for the car and…

A: Equated monthly installment or EMI is referred to as the amount that are paid in monthly basis…

Q: Cynthia is 27 and has 3 years' worth of payments remaining on her student loan. She pays $312.75 a)…

A: Present value of annuity is the sum of the present value of all the cash flow in the future.

Q: Mr. Smith has borrowed $20,000 from the bank to start his small book-keeping business. He has…

A: Using excel RATE function

Q: Mr. Park plans to loan 500,000 from a bank to replace his old equipment. The bank approved him the…

A: Here, Loan Amount is 500,000 Interest Rate (r) is 15% Compounding Period (m) is Monthly i.e 12 Time…

Q: Dominic Torreto borrows $300,000 from a lending company in his hometown at 12% interest compounded…

A: Loan Amount = $300,000 Interest rate = 12% Time Period = 6 Months

Q: William recently graduated from NFA University. While at NFA, William took out 4-23 a $50,000…

A:

Q: ictor received an 8-year subsidized student loan of $22,000 at an annual interest rate of 4.85%. If…

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Q: how much interest will mico pay

A: PV = A[ (1-(1/(1+r)^n)/ r] Where PV = present value, A = Annuity amount. r = interest rate. n =…

Q: Jack has borrowed money from his financial institution, and has agreed to pay $200 at the end of…

A: 1) Computation:

Q: Reggie availed of a deferred payment scheme from a bank that gave her an option to pay ₱5,500…

A: solution given Monthly payment 5500 Rate of interest 12% annual Compounding…

Q: Liz borrowed $52,500 to purchase a home. The bank offered her an APR of 3.49% for a term length of…

A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…

Q: Joe borrowed $100,000 from a local bank, which charges him an interest rate of 7% per year. If Joe…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Ms. C took a loan of $150,000 at a rate of 7 percent. She can pay equal installments of $25,000 at…

A: The number of years over which she can repay the loan amount can be calculated using the NPER…

Q: Johnny has a loan for $50,000 at a rate of i(4) = 8% on which he makes quarterly payments of $2,000.…

A: Amount of deposit every 3 months: $500 starting from today at a rate of interest of 1% effectively.…

Q: Tika has $10 000 that he can deposit into a savings account for 5 years. ANZ pays compounds interest…

A: Time value of money- It is based on the concept that money earned today is worth more than similar…

Q: Approximately how long will he take to pay off the loan under these​ conditions?

A: Information Provided: Time = 5 years Interest rate = 6.5% Present value = $62,000 Additional payment…

Q: Jeffrey received a $32,950 loan from a bank that was charging interest at 5.75% compounded…

A: Amortized Loan:  Amortized loan is a type of loan in which the borrower would pay periodic payments…

Q: Kristen purchased a car for $43,000; she paid $2150 as a down payment and financed the balance…

A: Using excel NPER and PMT function

Q: Robert recently borrowed $20,000 to purchase a new car. The car loan is fully amortized over 4…

A: Ordinary annuity are the PMTs which are made at the end of the period.

Q: Kris borrows some money in her senior year to buy a new car. The car dealership allows her to defer…

A: A deferred annuity is the annuity plan under which payment is accumulated for a certain period and…

Q: James signed up for a 5-year loan on a sum of $10,000, with a 10% annual interest rate. The loan is…

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Q: a) Find Kareem's monhly payment b) If Kareem pays the monthly payment for each month for the full…

A: Loan (mortgage) amortization schedule refers to a schedule which is prepared to shows the periodic…

Q: Joshua borrows 35,000 pesos from a cooperative to buy a laptop. He will repay the loan in equal…

A: Borrowing refers to the act of taking money from another party with known intention to repay that…

Q: Andrew just bought a new boat for $15,000 to use on the river near his home. He has taken delivery…

A: A balloon loan is a loan which is paid off with a large single, final payment. It involves making…

Q: Janie deposits $10,000 in the bank today. Starting 3 years from now, she makes equal withdrawals of…

A: The amount at the end of 10 years will depend upon the future values of the deposits and the…

Q: Louie borrowed $2,000 from Phil. Under this agreement, Louie would repay with $1,200 at t = 1 and…

A: The annual interest rate will be the annualized cost of borrowing. The yield will be the actual…

Q: Bob wants to deposit $5000 into a bank account at the beginning of the next month and $200 per month…

A: This account can be divided into two account: principal amount $5000 at rate 3% pa compounded…

Q: Juan owes $10,000 to a friend who is charging him simple interest of 3.50% p.a. He is required to…

A: Loan amount = $10,000 Simple interest rate = 0.035 Loan period = 4 months Lets assume equal payment…

Q: Maula-pae Weaks urgently needed $100.000 to pay lawyer-fees after illegally withdrawing a letter,…

A: Given: Loan amount is $100,000 Interest rate = 15% Period = 3 years

Q: Craig is saving for a $3500 sound system. He plans to deposit $175 at the end of every 3 months into…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Janie Curtis borrowed $25,000 from a bank at an interest rate of 12% compounded monthly. This loan…

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

Q: Rebecca Carlson purchases a car for $25,000 and finances her purchase by borrowing the money at 8%…

A: Equated Monthly Installments is one part of the equally divided monthly outgoes to clear off an…

Q: Clay Harden borrowed $25,000 from a bankat an interest rate of 9% compounded monthly. Theloan will…

A: When a loan is repaid by regular equal payments, each payment includes an interest part and a…

Q: . A father borrows P10,000 for the enrolment of his son in college last August. He agrees to pay the…

A: Given, the interest rate is 9% compounded monthly. Number of months is 4. Sum borrowed is P10,000.…

Q: Holden borrows $209,433 from a financial institution with equal end-of-year payments of $24,600. of…

A: Loans are given by the financial institutions to purchase the assets to the customers and the…

Q: Carlos purchased a house for $230,000; he paid $11500 as a down payment and financed the balance…

A: interest is difference between payment paid and loan amount.

Q: Ian loaned his friend $20,000 to start a new business. He considers this loan to be an investment,…

A: Total Loaned amount is $20,000 Interest rate is 6% Time period is 4 years To Find:- Annual Payment…

Q: David is borrowing $150,000 from Hartford Bank to open Road and Off-Road Bicycle Shop. David expects…

A: Answer:

Q: You borrowed $600,000 from a bank at an interest rate of 70% compounded quarterly to purchase a new…

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Q: When Florio and Rhoda bought their home, they borrowed $200,000 for 30 years at 6%, compounded…

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Q: Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation…

A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…

Q: Ashley borrows Php.75,000 from Stella with interest at 6% compounded quarterly. She agrees to pay…

A: Loan amount (PV) = Php. 75000 First payment period = 3 Years First payment quarterly period (t) =…