Question

Find the monthly payment for the loan. (Round your answer to the nearest cent.) $200 loan...

Find the monthly payment for the loan. (Round your answer to the nearest cent.) $200 loan for 12 months at 10%

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

I have assumed rate to be per month.

U can also do it assuming rate to be per annum. In that case, effective interest rate to be 10/12= 0.833% per month.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $254,000...
Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $254,000 condominium bought with a 30% down payment and the balance financed for 30 years at 4.05% $ Incorrect: Your answer is incorrect.
Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Monthly payments...
Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Monthly payments on $140,000 at 4% for 25 years.
a. Find the future value of the ordinary annuity. (Round your answer to the nearest cent.)...
a. Find the future value of the ordinary annuity. (Round your answer to the nearest cent.) $120 monthly payment, 5.5% interest, 1 year b. Find the future value (FV) of the annuity due. (Round your answer to the nearest cent.) $170 monthly payment, 6% interest, 14 years
1.) calculate the present value of annuity. Round answer to the nearest cent. $1800 monthly at...
1.) calculate the present value of annuity. Round answer to the nearest cent. $1800 monthly at 6.2% for 30 years. *NOTE: i keep getting 293,879.98 which is incorrect. 2.) since 2007, a particular fund returned 13.5% compounded monthly. How much would a $6000 investment in this phone have been worth after two years? Round your answer to the nearest cent. 3.) In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the...
1.Find the present value of the following ordinary annuities. Round your answer to the nearest cent....
1.Find the present value of the following ordinary annuities. Round your answer to the nearest cent. Amount per Payment Payment at End of Each Time (Years) Rate of Investment Present Value $3,300 6 months 8 12% $ 2. Find the amount of the following annuities due and interest earned. Round your answer to the nearest cent. Amount of Each Deposit Period Rate Time (Years) Amount of Annuity $7,500 quarterly 8% 8 $ 3.Find the amount of each payment needed to...
The following loan is a simple interest amortized loan with monthly payments. (Round your answer to...
The following loan is a simple interest amortized loan with monthly payments. (Round your answer to the nearest cent.) $170,000, 9 1/2%, 35 years (a) Find the monthly payment. $   (b) Find the total interest. $
Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 6...
Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 6 years of monthly payments on $150,000 at 5% for 25 years.
Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 7...
Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 7 years of monthly payments on $160,000 at 5% for 25 years.
determine the payment amortize the debt. (Round your answer to the nearest cent). Quarterly payments on...
determine the payment amortize the debt. (Round your answer to the nearest cent). Quarterly payments on $15,500 at 3.2% for 6 years
Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $35,000...
Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $35,000 for 1 year at 12% compounded quarterly Period Payment Interest Balance Reduction Unpaid Balance $35,000 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ 4 $ $ $
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT