Question

A debt of ​$4197.84 is repaid by payments of ​$1269.51 in 3 ​months, ​$1092.07 in 15...

A debt of ​$4197.84 is repaid by payments of ​$1269.51 in 3 ​months, ​$1092.07 in 15 ​months, and a final payment in 27 months. If interest was 6 % compounded monthly what was the amount of the final​ payment?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A debt of $7042.73 is repaid by payments of $1442.15 in 3 ​months, ​$1103.94 in 13...
A debt of $7042.73 is repaid by payments of $1442.15 in 3 ​months, ​$1103.94 in 13 months, and a final payment in 26 months. If interest was 5% compounded annually, what was the amount of the final​ payment? (Round to the nearest cent)
debt of $42000 is repaid by making payments of $4500. If interest is 9% compounded monthly,...
debt of $42000 is repaid by making payments of $4500. If interest is 9% compounded monthly, for how long will payments have to be made at the end of every six months? What payment made at the end of each year for 18 years will amount to $48000 at 4.2% compounded monthly? What payment made at the end of each year for 18 years will amount to $48000 at 4.2% compounded monthly?
A debt of $14,300 with interest at 8 % compounded semi-annually is repaid by payments of...
A debt of $14,300 with interest at 8 % compounded semi-annually is repaid by payments of $2,100 made at the end of every 3 months. Construct an amortization schedule showing the total paid and the total cost of the debt. Complete the amortization schedule. (Round to the nearest cent as needed.) Payment Number Amount Paid Interest Paid Principal Repaid Outstanding Principal Balance 0 $14,300 1 $2,100 $ $ $
debt of $42000 is repaid by making payments of $4500. If interest is 9% compounded monthly,...
debt of $42000 is repaid by making payments of $4500. If interest is 9% compounded monthly, for how long will payments have to be made at the end of every six months?
A debt of $45,000 is repaid over 8 years with payments occurring monthly Interest is 5...
A debt of $45,000 is repaid over 8 years with payments occurring monthly Interest is 5 % compounded annually. ​(a) What is the size of the periodic​ payment? ​(b) What is the outstanding principal after payment 23​? ​(c) What is the interest paid on payment 24​? ​(d) How much principal is repaid in payment 24​?
5) A debt of $5000.00 is to be repaid by payments of $2000.00 after two years,...
5) A debt of $5000.00 is to be repaid by payments of $2000.00 after two years, $2500.00 after three years and a final payment after five years. Determine the size of the final payment if interest is 10% p.a. compounded semi-annually.
A loan of 10,000 is being repaid with payments of 500 starting one month after the...
A loan of 10,000 is being repaid with payments of 500 starting one month after the loan is made and lasting as long as necessary. A final smaller payment is made one month after the last regular payment of 500. What is the amount of the additional smaller payment using an interest rate of 12% compounded monthly?
A demand loan of ​$8000.00 is repaid by payments of ​$3500.00 after two ​years, $3500.00 after...
A demand loan of ​$8000.00 is repaid by payments of ​$3500.00 after two ​years, $3500.00 after four ​years, and a final payment after eight years. Interest is 7​% compounded monthly for the first 2 ​years, 8​% compounded semi-annually for the next two ​years, and 8​% compounded quarterly thereafter. What is the size of the final​ payment?
A demand loan of​ $8000 is repaid by payments of​ $3000 after fifteen​ months, $4000 after...
A demand loan of​ $8000 is repaid by payments of​ $3000 after fifteen​ months, $4000 after thirty​ months, and a final payment after four years. If interest was​ 8% for the first two years and​ 9% for the remaining​ time, and compounding is​ quarterly, what is the size of the final​ payment? The size of the final payment is ​$. ​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.
A loan is repaid by making payments of $2000.00 at the end of every six months...
A loan is repaid by making payments of $2000.00 at the end of every six months for twelve years. If interest on the loan is 10% compounded quarterly, what was the principal of the loan?