Question

a
loan, amortized over 5 years, is repaid by making payments of $1200
at the end of every month. if interest rate is 3.50% compounded
semi- annually, what was the loan principal?

Answer #1

APR = 3.50% | ||

Effective annual rate = (1+0.035/2)^2-1 = 3.53063% | ||

APR(monthly) = 12[(1.035306)1/12 - 1] =3.474749% | ||

Monthly rate = 3.474749/12 =0.289562% | ||

Amount of
loan |
||

Present Value Of Annuity | ||

c= Cash Flow | 1200 | |

i= Interest Rate | 0.2896% | |

n= Number Of Periods | 60 | |

Present Value Of An Annuity | ||

= C*[1-(1+i)^-n]/i] | ||

Where, | ||

C= Cash Flow per period | ||

i = interest rate per period | ||

n=number of period | ||

= $1200[ 1-(1+0.00289562)^-60 /0.00289562] | ||

= $1200[ 1-(1.00289562)^-60 /0.00289562] | ||

= $1200[ (0.1593) ] /0.00289562 | ||

= $66,005.02 |
||

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?

A $265000 mortgage is repaid over 25 years by making monthly
payments of $1672. What is the nominal annual rate of interest
compounded semi annually on the mortgage?

A loan was repaid over seven years by end-of-month payments of
$450. If interest was 12% compounded monthly, how much interest was
paid?

A
loan was repaid over seven years by end-of-month payments of $450.
If interest was 12% compounded monthly, how much interest was paid?
can you please do my question with TI BA calculator.

Consider a $350,000 mortgage that is to be repaid over 25
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interest and principal payment after 8 years.

A 25-year mortgage is amortized by payments of $1,761.50 made at
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Find the amortization table for a $8,000 loan amortized over 3
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End of
Period
Payment
Made
Payment
Toward
Interest
Payment
Toward
Principal
Outstanding
Principle
0
8000
1
2
3
4
5
6

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Toward Principal Outstanding Principle 0 23000 1 2 3 4 5 6

A $85,000 mortgage is to be amortized by making monthly
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(a)
Compute the size of the monthly payment.
(b)
Determine the balance at the end of the seven-year
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(c)
If the mortgage is renewed for a seven-year term at 3%
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