Monthly payments of P8,000 each are used to settle a loan for 8 months at 8% compounded monthly. Find the present value of the loan and construct an amortization schedule.

Q: (a) What is the amount (in $) of the monthly principal and interest portion, PI, of Michael's loan?…

A: Cost of condominium = $67,000 Time period = 30 years Interest rate = 5% Down Payment = 20%

Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…

A: Given, PV = $60000 N = 3 years I/Y  =  8% FV = 0 We need to compute PMT

Q: A 3,300,000 loan was granted to a borrower by Norayma Bank with a nominal interest rate of 12% which…

A: Carrying value is the accounting value gauge wherein the value of a firm or resource is determined…

Q: Use the appropriate formula to find the amortization payment you would need to make each 3 months at…

A: Amortization payment refers to that payment which is required to be paid to payoff the loan during…

Q: Prepare the amortization schedule for a fifteen-year loan of $100,000. The APR is 3% and the loan…

A: Before preparation of first, we have to find the monthly installment and the monthly installment is:…

Q: Find the i (the rate per period) and n (the number of periods) for the following loan at the given…

A:

Q: Complete the following from the first three lines of an amortization schedule for the following…

A: A loan amortisation schedule is prepared in order to present the each regular payment and…

Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…

A: Amortization Schedule is a complete table of loan showing payments of interest and payment of…

Q: Consider a loan of $98,000 at 7% compounded annually, with 12 annual payments. Find the following.…

A: Loan amortization can be defined as the procedure of amortizing the loan in such a way that the loan…

Q: You have a new 10 year Student loan for $18,500.00 that charges an interest rate of 8.55% compounded…

A: Loan: The loan is a value that is borrowed from external sources like banks and this amount is…

Q: Find the payment necessary to amortize a 4% loan of $2100 compounded quarterly, with 19 quarterly…

A: Payment size: It implies to the amount of payment that is made in respect of a loan at regular…

Q: Payments of $1,200 in 1 year and another $2,500 in 6 years to settle a loan are to be rescheduled…

A: Here, Payment in year 1 is $1,200 Payment in year 6 is $2,500 Reschedule payment in 14 months is…

Q: Given the annual interest rate and a line of an amortization schedule for that​ loan, complete the…

A: Annual interest rate = 5.4% Monthly interest rate = 5.4%/12 = 0.45% Closing balance = $ 4,464.20…

Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…

A: Amortization schedule: It shows the periodic loan payments with the amount of principal and interest…

Q: The interest rate on a $6400 loan is 7% compounded semi-annually, and the loan is to be repaid by…

A: Here, To Find: Number of months required to settle the loan =? Amortization schedule =? Total…

Q: Consider a loan of $2100 at 7% compounded quarterly, with 6 quarterly payments. Find the following.…

A: An amortized loan is a loan that is repaid slowly by paying equal installments. The balance of the…

Q: You obtain a loan for 1,500,000 payable in three equal annual installments of 500,000 each. Interest…

A: Annual principal payment = 500,000 Interest rate =10% Effective rate = 12%

Q: Prepare an amortization schedule for a five-year loan of $59,000. The interest rate is 7 percent per…

A: Amortization schedule is prepared as follows, formulas for each cell is given in the next screen…

Q: A loan of 40,000 Php is to be paid by equal payment at the end of each quarter for 1 year and a…

A: Loan is an amount of money borrowed from a lender. It is expected that the loan will be repaid at…

Q: find i (the rate per period) and n (the number of periods) for each loan at the given annual rate.…

A: Calculation of Number of periods and monthly interest rate: Answer: Number of periods is 48 monthly…

Q: solve the following using the concept of amortization 1.Show the amprtization schedule for a loan…

A: Amortization Schedule: It is a complete periodic loan payment that helps in showing the interest and…

Q: A loan of P12, 500 is to be repaid with equal quarterly payments for one year with an interest of 6%…

A: Note: It is a case where the number of questions asked is more than one and no specified question is…

Q: If you borrow $2,900 and agree to repay the loan in six equal annual payments at an interest rate of…

A: a. Present value of payment = Payment *[1-(1+interest rate)^-time period]/rate $2,900=Payment *…

Q: a certain loan was arranged such that Dino will pay ₱5,500 every month for the first 7 months; no…

A: Present value, usually referred to as discounted value, seems to be a financial computation that…

Q: A loan of P8,000 will be amortized by payments at the end of each quarter for 8 years and 9 months.…

A: 1. Calculate the amount of periodic payments by using the EXCEL PMT formula. Note that there are 35…

Q: You plan to borrow $25,000 at a 3.4% annual interest rate compounded annually. The terms require you…

A: In case of amortization loan, equal payments at equal interval over the loan period are made. A…

Q: Use the​ add-on method for determining interest on a loan of $2410​, with an annual rate of 9​% and…

A: Given data, Principal amount (P) = $2410 Rate of interest (r) = 9% Time (t) = 4 years

Q: Find the payment necessary to amortize a 8​% loan of ​$1100 compounded​ quarterly, with 19 quarterly…

A: The payment size can be computed with the help of present value of annuity function.

Q: ABC can take a 45-day loan with a 15% interest deducted in advance, to be reapplied each time. How…

A: Introduction: Interest Rate: Any extra amount which is paid against the money borrowed is referred…

Q: Consider a 30-year, 8.5% loan for $130,000 with fixed monthly payments. Construct an amortization…

A: A loan amortization table is the schedule of loan repayments which include bifurcation of principal…

Q: Complete the following from the first three lines of an amortization schedule for the following…

A: Loan amount (P) = $ 165000 Interest rate = 7.5% Monthly interest rate (r) = 7.5%/12 = 0.625% Period…

Q: Using the Add-On Method, calculate the monthly payment for a $ 8,500 loan that is borrowed for 3…

A: Under Add-on method, total interest will be calculated considering the simple interest formula and…

Q: The monthly payment on an 8%, 36-month, add-on loan for $10,000 would be

A: Information Provided: Rate = 8% Time = 36months or 3years Principal = $10,000

Q: Complete the following from the first three lines of an amortization schedule for the following…

A: Loan    -  $210000 Interest - 6.25% Time - 20 Years

Q: 2. Monthly payments of P800 each are used to settle a loan for 8 months at 8% compounded monthly.…

A: Present value of annuity is the present value of all the stream of cash flow that occur in future.

Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…

A: Loan Schedule is a table showing amount of principal and interest paid with each installment paid.…

Q: Monthly payments of P800 each are used to settle a loan for 8 months at 8% compounded monthly. Find…

A: Monthly payment  (P)= P 800 Number of monthly payments (N) = 8 Annual interest rate = 8% Monthly…

Q: Complete the following from the first three lines of an amortization schedule for the following…

A: An amortization schedule is a table showing the manner in which the loan is repaid by making regular…

Q: A fully secured loan of P30,000 was to be amortized by 10 equal semi-annual payments, the first…

A: The time value of money becomes an important factor for capital budgeting decisions. It is an idea…

Q: For a short-term cash requirement of 85,000 TL, a 12-month maturity loan with equal installments…

A: The amortization schedule helps the lender to keep a track of the loan payments that will be…

Q: ou are offered an add-on loan for $4,500 at 18% for 5 years. What is the monthly payment? What is…

A: Since we answer up-to three sub-parts, we shall answer first three. Please resubmit a new question…

Q: For a short-term cash requirement of $ 85,000, a 12-month term loan with equal installments will be…

A: Loan Amount = 85,000 Monthly Interest Rate = 1.75% Time Period = 12 months Monthly Payment = [Loan…

Q: Find the payment necessary to amortize a 7% loan of $2200 compounded quarterly, with 6 quarterly…

A: Quarterly Payment needed to amortize this loan : $  -389.45 Reference:

Q: Use the appropriate formula to find the amortization payment you would need to make each three…

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

Q: what would be your debts at the end of the term according to each situation?

A: A loan is accompanied with interest that is paid in equal installments over an agreed period of…

Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…

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

Q: Monthly payments are required on a $45,000 loan at 6.0% compounded monthly. The loan has an…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.