Use an amortization table to solve the problem. Round to the nearest cent. A 7000 debt is to be amortized in 15 equal payments of 504.87 at 1% interest per month on the unpaid balance. What is the unpaid balance after the second payment? Show your table belove include columns for each of the following  Loan Balance Payment Interest amount  amount principle decrease new balance

Q: A loan 1000 is repaid by equal annual amounts of principal for 10 years and annual interest of 7% on…

A: Equal installment  = Loan Amount / present value annuity Factor @rate of interest for life

Q: Amount of Loan $175,000 Interest Rate 6% Down Payment $31,000 Increase in Down paymen $6,000

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Q: fill this out please

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A: PMT function in excel is used to calculate the amount of payment received or paid by the individual.…

Q: Prepare an amortization schedule for a three-year loan of $93,000. The interest rate is 8 percent…

A: Loan amount (PV) = $93000 Interest rate (r) = 8% Number of annual payments (n) = 3

Q: To start your business, you take a loan of $20,000 at 6.25 % compounded semi-annually. You want to…

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

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A: Frist we need to use excel to calculate yealy payment of loan. The formula is   =PMT(RATE,NPER,-PV)

Q: Flat Rock Inc recently borrowed $55,000 from its bank at a simple interest rate of 9.2%. The loan is…

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Q: Develop an amortization schedule for the loan described. (All answers should be entered in dollars.…

A: Given: Loan (PV) $90,000 Interest rate 10% Years 2.5

Q: Prepare an amortization schedule for a three-year loan of $99,000. The interest rate is 10 percent…

A: Determine periodic payment.

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 $13,000 loan is to be amortized for 10 years with quarterly payments of $414.98. If the interest…

A:

Q: Prepare an amortization schedule for a three-year loan of $102,000. The interest rate is 11 percent…

A: Interest payment is the price paid on the amount of loan.  Principal payment is the amount of loan…

Q: You are to repay a loan of $3600.00 with 17 quarterly repayments of $240.00, with the first…

A: Given  Loan = $3600 Number of payment = 17 PMT = $240 Interest rate = 7.8390% quarterly compounded…

Q: Use the add-on method of caloulating interest to find the total intorest and the monthly payment.…

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Q: A loan of $6,000 is repaid by payments of $544 at the end of every three months. Interest is 7%…

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Q: A loan of $4000 at 7.5% compounded monthly requires three payments of $1000 at 6, 12, and 18 months…

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Q: Consider a student loan of $20,000 at a fixed APR of 9% for 20 years. a. Calculate the monthly…

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Q: Using a spreadsheet program, create an amortization schedule for a 30-year mortgage of $500,000 at…

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Q: Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is…

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

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

A:

Q: Prepare an amortization schedule for a five-year loan of $70,000. The interest rate is 9 percent per…

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Q: you have just borrowed $51,107 at an annual interest of 7.6% and must repay the loan in equal…

A: Given:

Q: Prepare an amortization schedule for a five-year loan of $60,000. The interest rate is 9 percent per…

A: Using Excel PMT function to calculate the monthly payment, Loan Amortization Schedule is as under -

Q: Label all final answers with the correct. units, if applicable. Unless otherwise stated, use 4…

A:

Q: Find the amount of money owed at the end of 3 years if $7,500 is borrowed at 5.5% per year…

A: Loan amount (PV) = $7500 Interest rate = 5.5% Quarterly interest rate (r) = 5.5%/4 = 1.375% Period =…

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Q: Dinero Bank offers you a $39,000, 8-year term loan at 7 percent annual interest. Required: What will…

A: Annual loan payment = (Loan amount x r)/[1 - (1 + r)-n]

Q: Find the payment necessary to amoritize a 4% loan of $1600 compounded quarterly, with 9 quarterly…

A: Loan amount (PV) = $1600 Interest rate = 4% Quarterly interest rate (r)  = 4%/4 = 1% Number of…

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

A: Rate of interest 12% for one year and 3% for quarterly Hence R = 3% No.of periods = 4

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

A: Amortization schedule is schedule of periodic payment of loan, periodic interest and period…

Q: You are considering a loan with an annual rate of 8%. The mortgage is $130,000 with 180 monthly…

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

A: given, P=$180,000 R=10% N=3 YEARS

Q: 1. Suppose you borrow $16,000. The interest rate is 10%, and it requires 4 equal end-of-year…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

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

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Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.