The following information is given for a 60-month loan from a bank: Debt repayments are made at the end of each month. The annual effective interest rate for this loan is 12.682503%. The interest portion of the first installment is 300 TL. The remaining debt balance of this loan after the tenth payment is restructured with an annual effective interest rate of 11%. Calculate the new installment payments accordingly.

Q: Find the effective interest rate for a $1,500 loan for four years compounded semiannually at an…

A: Calculation of Effective Interest Rate:The effective interest rate is 8.16%.Excel Spreadsheet:

Q: the interest rate on 6400 loan is 10% componded semi annually. if the loan is to be repaid by…

A: A loan amortization table is the schedule of repayment of a loan it includes the bifurcation of…

Q: An automobile loan of $15,000 at 12% APR compounded monthly for 36 months requires equal monthly…

A: Repayment of loan is made in installments of fixed amount which include interest as well as portion…

Q: Establish loan amortization schedules for the following loans to the nearest cent. a. A 36-month…

A: When a loan is taken, borrower requires to pay interest on it. Apart from interest, instalment of…

Q: A customer takes out a loan of $150,000 on January 1, with a maturity date of 36 months, and an…

A: Interest on loan:-It is the rate levy on the initial amount of loan and this is the additional…

Q: A loan of $381,000 at 2.72% compounded quarterly was to be settled with month-end payments of…

A: Total amount, A = P(1+(R/100*4))4*3.629

Q: For a Federal Credit Union that provides a compounded quarterly interest rate of 8 percent per year,…

A: Federal credit union is referred as the credit union as per the regulatory comprehension of National…

Q: A $10,000 loan is scheduled to be repaid in equal monthly installments at the end of each month for…

A: Principal Amount = $10,000 Interest Amount = $2,600 Time Period = 36 months

Q: A loan of $36,999.85 is to be repaid by payments at the end of each quarter for eight years. Each…

A: This is an example of a growing annuity in which each payment increases by a constant rate over the…

Q: Colson Company has a line of credit with Federal Bank. Colson can borrow up to $375,000 at any time…

A:

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: A loan of 200000€ will be repaid with %12 nominal interest. convertible over 3 months. the debt is…

A: Loan Amount is 200,000 Nominal interest rate convertible over 3 months is 12% Time period is 72…

Q: A loan of $20,483 was repaid at the end of 11 months. What size repayment check (principal and…

A: AMOUNT OF LOAN COST CAN BE CALCULATED USING THE FOLLOWING FORMULA: A=P1+rt WHERE, A = amount of loan…

Q: A loan is amortized over 5 years with monthly payments at a nominal interest rate of 12% compounded…

A: First monthly payment (M) = 200 Monthly growth rate (g) = 1% Monthly interest rate (r) = 12%/12 = 1%…

Q: Find the interest refund on a 35​-month loan with interest of ​$2,834 if the loan is paid in full…

A: Data given: Total months =35 Remaining months = 13 Interest =$2834 Find=Interest refund=?

Q: To borrow $600, you are offered an add-on interest loan at 9 percent. Two loan payments are to be…

A: Given: Borrowed amount =$600Annual interest =9%   Amount to be paid =Principal + Interest=$600 +…

Q: For the following loan, make a table showing the amount of each monthly payment that goes toward…

A: The value of new principal considers both the interest amount and the principal amount repaid and…

Q: A 44 month loan has monthly payments of $412. If the interest rate is 8.1%, compounded monthly, find…

A:

Q: If the interest rate is 7.5% per year and the principal is 2,500, determine the amount of interest…

A: Interest= 2500 * 7.5% * (20/12) = 312.50 20/12 is done as the interest is for 12 months and we need…

Q: A company has assumed a debt of $45,000,000 to be paid in quarterly installments (at the end of each…

A: "Hii there, Thanks for posting the question. But as per  Q&A guidelines, we must answer the…

Q: A mortgage of $192,000 is to be repaid by making payments of $1194 at the end of each month. If…

A: The term of the mortgage can be found using the NPER function in excel.

Q: A $10,000 loan is scheduled to be repaid in equal monthly installments at the end of each month for…

A: To Find: Additional Interest paid

Q: The portion of the payment that is applied to interest in year 1-4 is

A: Simple interest is a method of calculating the charge on a loan. Simple interest is calculated for…

Q: An item is sold for an initial installment of $600 and 18 payments of $500 at the end of each month,…

A: Amortization schedule:  An amortization schedule is a detailed table of periodic loan payments that…

Q: determine the lump-sum amount to be paid at the end of the loan period.

A: Amount: It is the sum of money to be paid at the end of the period. This sum of money also includes…

Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the…

A: Liability Liability is define as the financial obligation on the company which are arises during the…

Q: Money borrowed today is to be paid in 13 equal payments at the beginning of each quarter. If the…

A: in this we have to find out present value FACTOR and than find out present value.

Q: LOA Bank Limited quotes a 9 percent interest rate on loans for 1 year. You are seeking a loan of…

A: Given data: loan amount = $50,000 Repayment amount = $54,500  Number of payments =12 monthly payment…

Q: On September 1, 2020, ABC Company borrows $40,000 on a 2-month note that charges an annual interest…

A: Maturity Amount = Amount Borrowed + Interest Rate

Q: Consider a student loan of $12,500 at a fixed APR of 12% for 20 years. a. Calculate the monthly…

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

Q: Bank JPX is offering personal loans of $35,000 to be repaid over 6 years with payments of $625 per…

A: Here, To Find: Effective annual rate (EAR) =?

Q: A person borrows $15,000 at an interest rate of 6%, compounded monthly, to be paid with payments of…

A: A concept through which it is studied that the current worth of money is higher than its future…

Q: A bank is offering to sell 6-month certificates of deposit for $12,000. At the end of 6 months, the…

A: Given information: Present value of deposit amount $12,000 After 6 months, it will pay $13,000

Q: You are about to borrow $8,000 from a bank at an interest rate of 8% compounded annually. You are…

A: The money which is taken as a loan from the bank or from any financial institution is known as…

Q: What future amounts is due at the end of the loan period?

A: Loan amount = php 2500 Period of 13 months, from january 1 to january 31 the following year.…

Q: On January 1, 2018, Company B borrowed 50,000 signing a 3-year installment note payable with yearly…

A: Note Payable - payment schedule:   Beginning Balance Interest Installment amount Principal amount…

Q: A six-month loan of 20,000 at a nominal rate of 12% convertible monthly will be repaid with six…

A: Loan monthly payments are given by, Loan amount = PV of all payments  PV = C/(1+r)n Where, C =…

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: If the interest rate on a loan is 1% per month, the effective annual rate of interest is

A: Effective Annual Rate  = [(1 + r)^n] - 1Where r = 1%n = number of period = 1 years*12 = 12

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: A student loan of R6978 is to be repaid by 18 equal monthly instalments. Assuming that instalments…

A: Loan amount (PV) = R6978 Interest rate = 18% Monthly interest rate (r) = 18%/12 = 1.50% Number of…

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: A loan of $18,000 is to be financed over a period of 24 wmonths. The agency quotes a nominal…

A: Given:Loan amount=$18000Financed time period=24 monthsNominal interest rate =8% for first 12…

Q: Prepare an amortization schedule for a three-year loan of $57,000. The interest rate is 8 percent…

A: Amortization Schedule: It is a schedule showing the loan payments, principal amount, and interest on…

Q: How much interest is paid in the third year? How much total interest is paid over the life of the…

A: Loan: It is the sum of money given to the borrower by the lender for a period of time. In return,…