You secure a 20 -year FRM with an APR of 5.75 % on a mortgage loan of $ 190, 000 . Rounded to the nearest dollar , your monthly payments are $

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

A: Loan pay-off: It means paying the remaining loan balance in just one payment.

Q: You secure a 20 -year FRM with an APR of 5.75 % on a mortgage loan of $190,000 . Rounded to the…

A: An agreement through which a lender lends the money to the borrower, and has the right to take the…

Q: You borrow a five-year $13,000 loan with monthly payments of S250. What is the annual percentage…

A: PV = 13000, PMT = -250, N = 5*12, FV = 0 use rate function in Excel monthly rate = 0.48%

Q: Suppose that your unsubsidized Stafford loans plus accumulated interest total $ 21000 at the time…

A: Loan amortization is the process of reimbursement of loan periodically by the borrower of the loan…

Q: Suppose you lend ​$11,500 to a friend at an APR of 10.00​%. Your friend will pay you back beginning…

A: The periodic payment can be made monthly, quarterly, semi-annually or annually. Periodic payment is…

Q: You borrow $30,000 for 10 years to pay tuition and fees. The annual interest rate is 12 percent.…

A: Loan amount (PV) = $30000 Interest rate = 12% Monthly interest rate (r) = 12%/12 = 1% Period = 10…

Q: uliana is taking out an $8,700, 3-year loan with an APR of 2.31%. What will be the monthly payment…

A: In this question we need to calculate the monthly payment for the loan .

Q: Determine the monthly payment if you take out a loan for $ 220000 with an annual interest rate of 9%…

A: Given information: Loan amount is $220,000 Annual interest rate is 9% Number of years is 15 years

Q: Suppose you secure a $250,000 mortgage loan to be paid off over 30 years at an annual interest rate…

A: Calculator steps: I/y = rate = 7.1%/12 = 0.5916667% NPER = Number of periods = 30*12 = 360 PV =…

Q: Find the monthly payment needed to amortize a typical $85,000 mortgage loan amortized over 30 years…

A: Excel Spreadsheet:

Q: You are considering taking out a loan of 20,000.00 that will be paid back over 7 years with monthly…

A: given information  loan amount = 20,000  interest rate = 4.8% monthly interest rate = 0.004 no of…

Q: Pacific Bank offers you a $150,000, 6-year term loan at 10 percent annual interest. What will your…

A: Present value of annuity = P * {1-[1/(1+r)^n]/r} Where, Present value of annuity =150000 n= 6 r =10%…

Q: Rounded to dollars and cents, what will be the monthly payment on a $75,000 30-year home mortgage at…

A: The PMT function can be used to derive the number of monthly payments that may be required to…

Q: Consider a student loan of $17,500 at a fixed APR of 12% for 25 years. a. Calculate the monthly…

A: Given: Loan Amount = $17500 APR = 12% Number of years = 25

Q: Find the monthly payment needed to amortize a typical $105,000 mortgage loan amortized over 30 years…

A: We need to determine the monthly payment as well as the interest component.  Given, Interest rate =…

Q: You borrow $11,000 and promise to make payments of $3,359.50 at the end of each year for 5 years.…

A: The question gives the following information:

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: 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: You have taken out a loan that requires you to repay $200 per month for 10 years at 12% annual…

A: Given:

Q: Determine the periodic payments PMT on the given loan or mortgage. (Round your answer to the nearest…

A: Periodic payment or PMT consists of a portion of principal and interest to be paid regularly by the…

Q: You borrow $27,000 with a term of two years at an APR of 5%. Use the Estimation Rule for Short-Term…

A: Given:

Q: You borrow $8,000 at an annual rate of 21%. If you repay the debt in three months, what do you owe?

A: In this question we require to calculate the amount we owe if we borrow $8000 and repay it in 3…

Q: You buy items costing $800 and finance the cost with a fixed loan installment for 18 months at 5%…

A: As we are told that interest rate charged on the loan is simple and not compounding, moreover we are…

Q: Determine the periodic payments PMT on the given loan or mortgage. (Round your answer to the nearest…

A: GIVEN, P = $20,000 R=4% M=12 N=10

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: You were buying a House for $190,000 with a down payment of $57,000. The loan will be paid back over…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: You have taken out a 20-year loan of $72,000 with 3% interest (APR) compounded monthly and with…

A: Annual percentage rate (APR) is a rate that a person is paying annually after undertaking all the…

Q: If you borrow $25,000 from a local finance company and you are required to pay $4,424.50 per year…

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

Q: Suppose that your unsubsidized Stafford loans plus accumulated interest total $ 23000 at the time…

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

Q: Find the monthly payment needed to amortize a typical $245,000 mortgage loan amortized over 30 years…

A: Interest is the amount paid on the loan amount over a period of time. It can be compounded annually,…

Q: Develop the table below by comparing the monthly pay- ments for a $200,000 mortgage loan with an…

A: When time is 100 years N = 100*12, FV = 0, PV = 200,000, rate = 8%/12 use PMT function in Excel…

Q: r the

A: The given problem can be solved using PMT function in excel. PMT function computes installment…

Q: You are getting a mortgage. Your home is worth $237,324, and you will make a $63,651 down payment.…

A: Cost of home= $ 237324 Down payment done= $ 63651 Loan= $ 237324- $ 63651 =$ 173673

Q: Determine the monthly payment if you take out a loan for $ 200000 with an annual interest rate of 7%…

A: Installments are to be paid monthly Amount Borrowed $200,000 Rate of interest 7%…

Q: Western Bank offers you a $10,000, 6-year term loan at 7 percent annual interest. What is the amount…

A: Computation of annual Payment of the loan is shown below: Hence, the payment amount annually is…

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

A: 1.Amount of Loan pay off is $7975 2.Amount of Finance Charges rebate is $2882   Calculations :-…

Q: annual loan payment

A: Annual Loan Payment: Annual loan payment is the amount to be paid in a year on the loan taken.…

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

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

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: You borrow $700,000 at 3% interest for 30 years on a mortgage. What is your monthly payment?…

A: To calculate the monthly payment we will use EMI formula as follows:   Monthly payment =…

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: Using 12 percent simple interest per year, how much interest will be owed on a loan of $500 at the…

A: The interest on a loan can be calculated with different techniques such as compound interest and…

Q: Find the monthly payment needed to amortize a typical $115,000 mortgage loan amortized over 30 years…

A: Loan amount (PV) = $115,000 Period = 30 Years Number of payments (n) = 30*12 = 360 Interest = 5.7%…