Question

You have a 10 year loan for $50,000 and you make annual payments. The interest rate is 6% annual compounded quarterly.

a) What are your annual payments?

b) If the inflation rate is 3.2% annual compounded monthly, what is the purchasing power of your final payment in year 2 dollars?

c) What are the equal annual payments in year 2 constant dollars with the above inflation rate?

d) What is the total interest paid in year 2 constant dollars with the above inflation rate?

Answer #1

Int rate 3.2% annual compounding monthly int paid in year 2 =1484

IN220 Bank offers you a 10-year loan for 1,000,000 Baht at an
annual interest rate of 10 percent, compounded monthly. What will
your monthly loan payment be?
100,000.00
8,333.33
13,215.07
162,745.39

You have a mortgage loan of $310,000 with monthly payments. The
monthly interest rate is 0.1%.
(a) Model the mortgage with a dynamical system, where your payment
is ? dollars per
month.
(b) If the payment is $1,800 per month, how much is still due
after 120 payments?
(c) What monthly payment ? will have the loan paid out in
exactly 25 years?

A loan has a stated annual rate of 17.9%. If loan payments are
made monthly and interest is compounded monthly, what is the
effective annual rate of interest? (Show your answer to the fourth
decimal place, as a decimal, NOT as a percentage. DO NOT round
until after all calculations have been completed and you have
reached your final answer.)

Suppose you take out a loan of $ 20,000 now (n=0), with an
annual interest rate of 12 % compounded monthly (LIP = one month).
The loan has to be paid back in 12 end-of-month payments, with the
first payment made one month from now. The monthly payment is $
1,776.00. What is the interest payment included in the sixth
payment ？

A 10-year loan in the amount of $527,000 is to be repaid in
equal annual payments. What is the remaining principal balance
after the sixth payment if the interest rate is 5 percent,
compounded annually?
Show work.

If you make monthly payments of $491.00 into an ordinary annuity
earning an annual interest rate of 3.2% compounded monthly, how
much will you have in the account after 3 years? After 8 years?

You receive a 10-year unsubsidized student loan of $18,000 at an
annual interest rate of 6.6%. What are your monthly loan payments
for this loan after you graduate in 4 years? (Round your answer to
the nearest cent.)

You receive a 10-year unsubsidized student loan of $30,000 at an
annual interest rate of 5.4%. What are your monthly loan payments
for this loan after you graduate in 4 years? (Round your answer to
the nearest cent.)

You receive a 10-year unsubsidized student loan of $31,000 at an
annual interest rate of 5.6%. What are your monthly loan payments
for this loan after you graduate in 4 years? (Round your answer to
the nearest cent.)

you take a one year installment loan of $1000 at an interest
rate of 12% per year (1% per month) to be repaid in 12 equal
monthly payments.
a. what is the monthly payment
b. what is the total amount of interest paid over tge 12 month
term of the loan?

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