What amortization payment (in $) would you need to make each month at 12% interest compounded monthly to pay off a loan of $15,000 in 2 years? Use Table 12-2. (Round your answer to the nearest cent.)

Q: What monthly payment is required over 8 years to equate with a future amount P90,000? Assume…

A: Monthly payment refers to the amount which is paid on a periodic basis. The period of monthly…

Q: You borrow $280,000 at 4.00% per year and will pay off the loan in equal payments starting one year…

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

Q: Find the monthily payment needed to amortize a typical $90,000 mortgage loan amortized over 30 years…

A: A mortgage loan is an amount of money borrowed. The same is repaid with equal periodic instalments…

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 borrower obtains a fully amortizing loan for $80,000 at 10 percent for 7 year. Payments are…

A: A mortgage is a loan that allows a buyer to acquire a house or other real estate property and repay…

Q: Consider a loan of $2 million that is paid quarterly over a period of 10 years. Calculate the dollar…

A: In case of loan payments a fixed amount is paid in each period. While the amount of each payment…

Q: Suppose you borrowe9 $12,000 at an interest rate of 8%, compounded monthly over 36 months. At the…

A: Computation:

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: Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments…

A: Loan is amount borrowed by some investor or company from the stock market or taken by individual…

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: Assume you take out a $2000 loan for 30 months at 9% APR. What is the monthly payment? (Round your…

A: Monthly payment is present value amortised for with equal instalment. r is interest rate APR and n…

Q: For an interest rate of 12% compounded annu-ally, determine the following: (a) How much can be lent…

A: Given information: Interest rate of 12% compounded annually, Future value of lump sum amount is…

Q: A loan of £4,000 is to be repaid over 5 years by a level annuity payable monthly in arrears. The…

A: To Find: Monthly payment Capital repaid and interest paid in first and lst month Loan repaid after…

Q: Find the periodic payment ?

A: Loan is a contract between lender and borrower where lender provide funds to borrower for definite…

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 the bank quotes a loan APR of 9% per annum, compounded monthly, what do you have to pay back in 1…

A: Compound interest= P(1+r%/n)^tn Interest rate = 9% Borrow amount= 100

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: Calculate the present value of the compound interest loan. (Round your answers to the nearest cent.)…

A: Present Value can be calculated using PV function in excel PV (rate, nper, pmt, [Fv], [type]) Rate…

Q: Compute the monthly payment on a $65,000 loanif the principal and interest are to be repaid in 84…

A: a) Loan amount (PV) of $65,000 needs to be repaid in (n) 84 equal installments at an annual interest…

Q: In what period of time could you pay back a loan of $2000 by making quartorly payments of $310 f…

A: Loan amount (L) = $2900 Quarterly payment (Q) = $310 Interest rate = 5.9% compounded monthly Let n =…

Q: A personal loan for $20,000 has an interest rate of 12% over 5 years with monthly payments. What is…

A: Equated Monthly Instalment(EMI) means a part of the equally divided monthly amount paid for the…

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: 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: A loan of P50,000 is to be amortized by paying quarterly in 1 year. If money is worth 10% compounded…

A: Quarterly payment = Q Loan amount (L) = P 50000 r = 10% per annum = 2.5% per quarter n = 1 year = 4…

Q: How many months will it take you to pay off a loan of $11,000 at 3% APR compounded monthly if you…

A: Loan = 11000 APR = 3% Monthly Compounding Interest Rate = APR / Number of compounding periods =…

Q: You take out a $7,000 car loan that calls for 60 monthly payments starting after 1 month at an APR…

A: The present value of annuity refers to the current value of regular payments made at fixed intervals…

Q: A car is purchased for $6,738.81 with $2,000 down and a loan to be repaid at $100 a month for 4…

A: The balloon payment is the payment of the leftover principal amount.

Q: Find the monthly payment needed to amortize a typical$210,000 mortage loan amortized over 30 years…

A: Excel Spreadsheet: Excel Workings:

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: Loan Repayment A loan of $10,000 is to beamortized with quarterly payments over 4 years. Ifthe…

A: given data  loan amount = $10000  interest rate = 8% quaterly amortized time period  = 4 years…

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: For an interest rate of 12% compounded annually, determine the following: (a) How much can be lent…

A: Present value is calculated by discounting the future cash flow at the given discount rate. While,…

Q: You invest $19,000 at 18% interest, compounded monthly, for 2 years. Use the compound interest…

A: Given, Investment = $19,000 Interest     = 18% Compounding Frequency = Monthly for 2 years  The…

Q: Consider a loan of 800,000 which is to be amortized by 60 monthly payments. The interest rate is 12%…

A: Solution:- When an amount is borrowed, it can either be repaid as lump sum payment or in…

Q: Suppose you take on a loan that is subject to an annual interest rate of 12%, with the interest rate…

A: present value=future value1+rate of interestfrequency of compoundingyear×frequency

Q: A loan is to be repaid quarterly for 10 years that will start at the end of 4 years. If the interest…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: Auto loan requires payments of 300 Rial at the end of each interval for 3 years at a nominal annual…

A: Calculation of Payment Intervals and Accumulated Amount: Excel Spreadsheet: Excel Workings:

Q: You borrow $18,000 with a term of four years at an APR of 4% to buy a truck. (Round your answers to…

A: This question is related to borrowing and strokes given to us are of financial calculator. We need…

Q: How many years will the borrower pay a loan if at the end of each month he will pay ₱850.00 to…

A: Given Information :  Monthly amount deposited = ₱850 Amount required = ₱40,000 Annual interest rate…

Q: A firm borrows $2,000,000 at 12% annual interest and wishes to pay it back with payments that…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

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: You have taken out a 23-year loan of $78,000 with 5% interest (APR) compounded monthly and with…

A: Therefore, the amount of your second principal payment is $151.7.

Q: Prepare an amortization schedule for a three-year loan of $60,000. The interest rate is 6 percent…

A: The amortization schedule can be prepared as follows:

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.