Question

You estimate that you will owe $40,200 in student loans by the
time you graduate. If you want to have this debt paid in full
within 10 years, **how much must you pay each month**
if the interest rate is 4.35 percent, compounded monthly?

N

%

PV

PMT

FV

Answer #1

Loan amount = $40,200

No of monthly payment = 10 years*12=120

Monthly Interest rate = 4.35%/12 = 0.3625%

Calculating the Monthly Loan PAyment(PMT) using excel "PMT" function:-

So, **Monthly Loan PAyment(PMT) is $413.73**

*If you need any clarification, you can ask in
comments. *

**If you like my answer, then please up-vote as it
will be motivating *** *

Alex estimates that he will have $47,500 in student loans by the
time he graduates. The interest rate is 7.2 percent, compounded
monthly. If he wants to have this debt paid in full within 5 years
following graduation, how much must he pay each month?
$745.69
$873.65
$945.05
$741.67
$980.40

you
took our some student loan in college and now owe $15,000. you
consolidated the loans into one amortizing loan, who has annual
interest rate of 5%(apr) if you make monthly payments of $200 how
many months will it take to pay off the loan? fractional values are
acceptable

You have a long-term goal of paying off your school
loans in five years. You will
graduate with a loan debt of RM20,000 and an interest rate of 6%.
How much will
you need to pay each month to have the debt paid off in five
years?
You have a long-term goal of paying off your school
loans in five years. You will
graduate with a loan debt of RM20,000 and an interest rate of 6%
give opinion and calculate....

Jacob has $210,000 in student loans. His bank charges
4% APR (compounded monthly). If Jacob wants to pay off
his student loans in 10 years, Part A:) calculate the amount he
must pay each month to eliminate the debt, Part B): and also
calculate the number months it will take to pay off the loans he
pays 1000 per month?

2. Mr. and Mrs. Rich are interested in
purchasing an annuity that will pay them $2,500.00 per month
starting next month for 25 years. If the best rate of return that
they could get is 4.65% compounded semi-annually, calculate using
both the algebraic and the calculator method,
a) how much should they pay now for this
annuity?
P/Y
C/Y
N
I/Y
PV
PMT
FV
b) Calculate the total interest paid over the
term of the annuity....

1. Julia purchased an investment grade gold coin today for
$375,000. She expects it to increase in value at a rate of 4.5%
compounded annually for the next 6 years. How much
will the coin be worth at the end of the sixth year?
N
I/Y
PV
PMT
FV
2. Moon has been investing $2,500 quarterly for the past 10
years in an equity mutual fund. How much is the fund worth now
assuming she has earned 8.5% compounded...

Include the values you enter on the TVM Solver with your
solutions. 1. Mr. Wong takes out a $180 000 mortgage to purchase a
new house. The interest rate is 6.4% /a, compounded semi-annually.
He makes monthly payments of $1200.00.
a) How long will it take to pay off the mortgage? N= I%= PV=
PMT= FV= P/Y= C/Y=
b) How much interest is paid over the life of the mortgage?

What size mortgage can you afford if you can make a monthly
payment of $1,200 per month for 30 years? You can borrow at 2.5%,
compounded monthly.
PV=
FV=
PMT=
N=
I/Y=

You have a credit card with an APR of 16%, compounded monthly,
that has a balance of $7,000. You want to transfer this balance to
a different card with an APR of 14.5%, compounded monthly. Assuming
that you will make the minimum payments of $150 per month for
either card, what transfer fee would make you ambivalent
between transferring or not?
PV=
FV=
PMT=
N=
I/Y=

You owe $10,000 on a credit card with an interest rate of 15%,
which is compounded monthly. If you make payments of $1,000 per
month, how many months will it take you to pay off your debt?
(Enter the answer to 2 decimal places)

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 6 minutes ago

asked 8 minutes ago

asked 21 minutes ago

asked 33 minutes ago

asked 36 minutes ago

asked 39 minutes ago

asked 40 minutes ago

asked 51 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago