You borrowed $10000 with an interest rate of 12%. The loan is to be repaid in equal monthly payments over 10 years. How much of the •

Q: Funds are deposited in a savings account at an interest rate of 8% per annum. What is the initial…

A: Annual interest rate = 8% Future value = P 10,000 Period = 10 Years

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

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

Q: You borrowed money from the bank with a simple interest 8%, find the present worth of P25,000, which…

A: In Simple Interest Case, FV = PV + (PV x r x n) FV = PV x {1 + (r x n)} Therefore, PV = FV / {1 + (r…

Q: What is the payment for a loan of $320000 with an interest rate of 8.13% compounded monthly for 6…

A: using financial calculator to solve the monthly payment

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

A: Loan Amount = 1,000,000 Interest Rate = 10% Time Period = 60

Q: calculate the amount of payments

A: Payments: Payments are the amounts that are used to settle the borrowings from any financial or…

Q: A man borrowed Php 120,000 and promised to pay annually for 5 years The payment starts at “X pesos…

A: Borrowed amount (PV) = Php 120,000 Period (n) = 5 Years Interest rate (r) = 8% Growth rate (g) =…

Q: If you borrow $2800 and agree to repay the loan in 5 equal annual payments at an interest rate of…

A: Using excel PMT function to calculate the yearly payment

Q: How much interest is payable each year on a loan of P2,000 if the interest rate is 10% simple…

A: Interest means the extra amount which we received because of investment made and will be paid in…

Q: You have borrowed $28,000 at an interest rate of 12% compounded annually. Equal payments will be…

A: Given, Amount borrowed = $28000 Interest Rate = 12% No. of years = 4

Q: You repay a student loan of $20,000 in equal monthly installments over 5 years at a nominal interest…

A: Equated monthly installment is referred to as an amount payable for each and every month to the bank…

Q: Suppose that your unsubsidized Stafford loans plus accumulated interest total $ 28000 at the time…

A: Loan amount (L) = $28000 Interest rate (r) = 8.5% per annum = 0.70833% per month n = 10 years = 120…

Q: Mr. Ramos is considering to pay his outstanding balance after 3 years of payment. The original…

A: PMT function: The PMT function is a type of financial function which helps to determine the total…

Q: You take one-year installment loan of $1000 at an interest rate of 12% per year (1% per month) to be…

A: Loan amount (L) = $1000 r = 1%  n = 12

Q: a) A man has invested $5350 in a savings account that pays 12% simple interest. How long will it…

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

Q: The interest rate is 10% compounded annually. What percentage of the 2nd payment will be interests?

A: In any loan, the equated instalment repayment will include the principal and the interest.  Interest…

Q: 3. A 10,000 loan is taken out and the interest rate is 8 percent effective. Payments are made on the…

A: GIVEN, Loan is taken  - $10000            Interest rate  - 8% Paayment is to be completed in 10…

Q: A 5-years, $6000 loan is being amortized with monthly payments at j12 = 10%. Just after making the…

A: Loan is the value which is borrowed from the other sources like banks. Repayment of loan made in…

Q: A loan of 10,000 is to be repaid during 5 years with equal monthly payments of p. The interest rate…

A: In this we have to calculate present value of both option.

Q: You have approached Which Bank for a loan to buy a house. The bank offers you a $400 000 loan,…

A: Given Information:Loan amount is $400,000 Interest rate is 9% (compounded monthly) Loan tenure is 20…

Q: John Johnson borrowed $15,550 from a bank for three years. If the quoted rate (APR) is 5.20 percent,…

A: In the given question we need to compute the effective annual interest rate (EAR) if the nominal…

Q: Saud borrowed $90,000 now. He will pay off the loan with 10 equal quarterly payments. The first…

A: To find the quarterly payment one can apply the formula in excel called PMT which calculates the…

Q: Assume you borrow $2000 now at 7% per year for 10 years and must repay the loan in equal yearly…

A: PV=2000 N=10 r=7%

Q: please answer with details on how to do it. Thank you. If a one-time amount of $10,000 is invested…

A: Future amount in case of compounding can be calculated as: = Principal * ( 1 + rate) ^ number of…

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: If $1000 is deposited in a savings account at the beginning of each of 10 years and the account…

A: Working note:

Q: If I loaned an amount of P10,000.00 with an interest rate of 8.44 % compounded monthly for 5 years.…

A: Loan amount = P 10,000 Annual interest rate (AR) = 8.44% Number of compounding per year (m) = 12

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

A: Monthly payment is the portion of the loan amount along with the interest that is paid every month.…

Q: A loan of $20,000 has a stated interest rate of 5 percent per year. Repayment of principal and all…

A: Loan amount = $20,000 Interest rate = 5% Time period = 10 years

Q: Caculate the amount of interest paid on a loan of $25,000 with a rate of 4.5% compounded monthly for…

A: GIVEN, LOAN (P) = $25,000 R=4.5% N=10 YEARS M = 12( MONTHLY COMPOUNDING)

Q: Suppose that your unsubsidized Stafford loans plus accumulated interest total $ 34000 at the time…

A: Loan amount (P) = $34000 Monthly interest rate (r) = 0.00625 (0.075 / 12) Monthly period (n) = 120…

Q: How large must each annual payment be if the loan is for $20,000? Assume that the interest rate…

A: Excel Spreadsheet:

Q: If a loan of L is repaid in one lump sum at the end of 20 years, the amount of interest paid is 5000…

A: Here we can use the concept of time value of money to find the solution. As per the concept of time…

Q: A person invests 100,000 TL in bank deposits with an annual nominal interest rate of 10%,…

A: According to the time value of money concept, money available today worth more than the same amount…

Q: You borrow 10.000 USD for 4 years to be paid with equal installments. The rate is 10%  a-what is…

A: Remaining principal after a certain time period denotes the outstanding principal at the end of that…

Q: Suppose that your unsubsidized Stafford loans plus accumulated interest total $ 20000 at the time…

A: Installment is the periodic amount paid by the borrower to the lender in order to pay back the loan…

Q: A man borrowed P20000 and promised to pay P35000 at the end of 5yrs. If interest is compounded…

A: Borrowed amount (P) = P 20000 Promised amount to be paid (F) = P 35000 n = 5 years = 10 semiannual…

Q: aned today. What will be the size of 10 annual payments that you should pay to a loan of ₱10,000, if…

A: The loans are paid by the annual equal installments that carry payment of the principal amount and…

Q: If you borrowed S 15,000 to be repaid in 20 equal quarterly payments and after your 10th payment you…

A: Present value refers to the current valuation for a future sum. Investors determine the present…

Q: Suppose that your unsubsidized Stafford loans plus accumulated interest total $ 17000 at the time…

A: Loan and total interest= $17,000 For 10 years- = $17000*12*10 = $2,040,000   Let fixed amount for…

Q: You want to borrow $30,000. For the loan to you must repay $1100 every quarter (4 times per year)…

A: Loan is an agreement between lender and borrower where lender agrees to provide funds to lender for…

Q: What is the compound amount when $6400 is deposited in an account earning an interest rate of 6%,…

A: Because you have posted multiple questions, we will answer the first question only, For the…

Q: A loan of ₱20,000 will be paid semiannually for 4 years. What is the amount of each payment if…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…