Question
Will Con. is borrowing 25,000 at a compounded annual interest rate of 6%. Amortize the loan...
Will Con. is borrowing 25,000 at a compounded annual interest rate of 6%. Amortize the loan if annual payments are made for 4 years.
Construct the table and Amortize the Loan based on above data. Show your work.
Homework Answers
Answer #1
Annual Payment = $ 7214.79
Not the answer you're looking for?
Similar Questions
What is the nominal annual rate of interest compounded quarterly if a loan of $ 25,000...
What is the nominal annual rate of interest compounded quarterly
if a loan of $ 25,000 is repaid in seven years by payments of
$2000 made at the end of every six months?
ABC borrowed $236,000 at an annual interest rate of 11 percent. The terms of the loan...
ABC borrowed $236,000 at an annual interest rate of 11 percent.
The terms of the loan required ABC to make quarterly payments and
to completely amortize the loan over five years. Assuming ABC made
the payments as agreed, how much total interest did ABC pay over
the life of the loan? Please show all work.
A loan is made in the amount of $13,675. The interest rate is 6% and equal...
A loan is made in the amount of $13,675. The interest rate is
6% and equal payments are to be made semi-annually over 4 years.
SHOW ALL WORK!!
What is the amount of each payment?
What is the total installment cost for the loan?
What is the finance charge for the
loan?
You are considering borrowing $200,000 for 30 years at an annual interest rate of 6% the...
You are considering borrowing $200,000 for 30 years at an
annual interest rate of 6% the bank agreed to give you 80% of the
amount and the 20% should be paid by you. The loan agreement calls
for MONTHLY equal payments, to be paid at the end of each MONTH.The
total interest will be
Use the Amortization Table to find the payment necessary to amortize the following loan. Amount of...
Use the Amortization Table to find the payment necessary to
amortize the following loan.
Amount
of Loan
Interest
Rate
Payments
Made
Number
of Years
Payment
$7000
7one half12%
annually
9
_______
1.You are borrowing $100,000 for an amortized loan with terms that include annual payments,6 year loan,...
1.You are borrowing $100,000 for an amortized loan with terms
that include annual payments,6 year loan, and interest rate of 4.5
per year. How much are your equal annual
payments? Answer to the nearest cent xxx.xx, and do not
enter the dollar sign.
2.Calculate the total present value of the following three cash
flows: $15 obtained one year from today, $24 obtained
two years from today, and $30 obtained three years from
today. Use 6.7% as the interest rate. Answer
to the nearest cent, xxx.xx and...
Question No. 2: Loan Amortization &nbs
Question No. 2: Loan
Amortization
(10marks)
You are borrowing a loan from Sohar Bank of 14832 OMR at a
compound annual Interest rate
of 1%. Question: Amortize the loan
if annual payments are made for 5
years.
You have a 10 year loan for $50,000 and you make annual payments. The interest rate...
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...
angelica received a 12 year non subsidized student loan of 17000 at an annual interest rate...
angelica received a 12 year non subsidized student loan of 17000 at
an annual interest rate of 5.5% (compounded monthly) she will begin
repaying the loan after she graduates in 4 years how much interest
in dollars must she pay on the loan during the time that payments
on the loan are not being made
A loan has a stated annual rate of 17.9%. If loan payments are made monthly and...
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.)
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 13 minutes ago
asked 26 minutes ago
asked 33 minutes ago
asked 35 minutes ago
asked 39 minutes ago
asked 40 minutes ago
asked 46 minutes ago
asked 51 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago