Question

You take out a three year loan for $10,000 at 6% interest. What will be the...

You take out a three year loan for $10,000 at 6% interest. What will be the payment, interest expense, principle paid and balance remaining after year two?

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
You take out a 15-year loan amount in the amount of $300,000 at a 7% rate...
You take out a 15-year loan amount in the amount of $300,000 at a 7% rate annually. The loan is to be paid off by equally monthly installments over 15 years. Draw an amortization table showing the beginning balance, total payment, principle repayment, interest payment, and ending balance for each month. How much is the total interest payment for the 5 months? (Show only 5 months on the table) ***Please show all work***
You take out a $325,000 thirty-year mortgage amortized loan. The interest rate is 6% with monthly...
You take out a $325,000 thirty-year mortgage amortized loan. The interest rate is 6% with monthly payments of $1948.54. What is the principal portion of your first payment?
Suppose you take out a loan for 150 days in the amount of $14,000 at 6%...
Suppose you take out a loan for 150 days in the amount of $14,000 at 6% ordinary interest. After 50 days, you make a partial payment of $2,000. After another 30 days, you make a second partial payment of $2,000. What is the final amount due on the loan?
If you take out a $8,000 loan for a period of 6 months at an 8%...
If you take out a $8,000 loan for a period of 6 months at an 8% interest rate, what will your outstanding balance be after two monthly payments? Round your answer to the nearest cent as necessary and do not include the dollar sign
You take out a 20-year loan in the amount of $450,000 at a 4 percent annual...
You take out a 20-year loan in the amount of $450,000 at a 4 percent annual rate. The loan is to be paid off by equal monthly installments over 20 years. Draw an amortization table showing the beginning balance, total payment, principal repayment, interest payment and ending balance for each month. How much is the total interest payment for the first four months? (show only four months on the table).
Suppose you take out a 20-year accrual loan for $2,400,000 with a pay rate of 6%...
Suppose you take out a 20-year accrual loan for $2,400,000 with a pay rate of 6% and an accrual rate of 9%. The loan has no points, no prepayment penalties, and monthly payments. What will be the mortgage balance after year 7?
You take out a $325,000 thirty-year mortgage (amortized loan) when you purchase your home. The interest...
You take out a $325,000 thirty-year mortgage (amortized loan) when you purchase your home. The interest rate is 6%. You make monthly payments of $1948.54. What is the principal portion of your first payment?
You take out an amortized loan for $10,000. The loan is to be paid in equal...
You take out an amortized loan for $10,000. The loan is to be paid in equal installments at the end of each of the next 5 years. The interest rate is 8%. Construct an amortization schedule. A. Calculate the PV of $100 due in 5 years compounded daily at 12%. B. Calculate the FV of $1000 due in 3 years at 6% compounded quarterly. C. Calculate the FVA of $300 due at the end of each of the next 5...
Suppose you take out a loan of $ 20,000 now (n=0), with an annual interest rate...
Suppose you take out a loan of $ 20,000 now (n=0), with an annual interest rate of 12 % compounded monthly (LIP = one month). The loan has to be paid back in 12 end-of-month payments, with the first payment made one month from now. The monthly payment is $ 1,776.00. What is the interest payment included in the sixth payment ?
3-If you take out a three-year car loan for $24,540 at an interest rate of 7.73%,...
3-If you take out a three-year car loan for $24,540 at an interest rate of 7.73%, what are your monthly payments? 4-What is the expected annual return on Caterpillar if it has a beta of 0.90; the annual one-year Treasury bill rate is 2.24%%; and the expected return on the Standard & Poor’s 500 is 8%? Also, please explain, in a few sentences, the intuition behind your result (i.e., the relationship between beta and expected return).