Question

A 25-year loan is being repaid with annual payments of 1,300 at an annual effective rate of interest of 7%. The borrower pays an additional 2,600 at the time of the 5th payment and wants to repay the remaining balance over 15 years.

Calculate the revised annual payment.

Answer #1

**Formulae**

Formulae as above

A loan of $10000 is being repaid with level payments at the end
of each year for 10years. Assuming 10% effective interstate's per
year, the borrower pays an extra x dollars with their 5th payment
which allows the same level payments to exactly pay off the loan
two years earlier. Find X

A loan of 20,000 is being repaid by 20 annual payments at the
end of year, each includes equal repayment of the principal along
with the interest at 5% effective on the unpaid loan balance. After
receiving each payment, the lender immediately deposits the payment
into an account bearing interest at an annual rate of 3%. Find the
accumulated value of the account right after the last deposit. The
accumulated value is (in two decimals).

Suppose that a loan is being repaid with 20 annual payments with
the first payment coming one year from now. The first 5 payments
are for $250, the next 8 are $310 each, and the final 7 are $430
each. If the effective rate of interest is 6.3%, how much interest
is in the 11th payment?
Answer = $ (3 decimal place)

Financial Math: A 20-year loan is being repaid by annual
payments of 2000, 2500, 3000, 3500, ... at end of each year. If the
present value of the seventh and eighth payments are equal. (a)
Find the annual effective interest rate. (b) Find the principal and
interest paid in the third annual payment.
Please show algebraic work not just excel.

A loan of $10,000 is being repaid with 10 payments at the end of
each year at an annual effective rate of 5%. The payments grow by
10% each year. Find the amount of interest and principal paid in
the fifth payment. (Answer: $397.91, $837.97) Show all
calculations.

A 10-year loan in the amount of $527,000 is to be repaid in
equal annual payments. What is the remaining principal balance
after the sixth payment if the interest rate is 5 percent,
compounded annually?
Show work.

A loan is repaid with 10 annual payments of 1,295.05 with the
first payment 1 year after the loan is issued. The loan rate is an
annual effective rate of 5%. The interest portion of payment
t is 328.67. Determine t.

A loan of $6,300 is being repaid by payments of $70 at the end
of each month. After the 7th payment, the payment size increases to
$280 per month. If the interest rate is 6.6% compounded monthly
calculate the outstanding loan balance at the end of the first
year.

A loan is repaid in 12 equal annual installments, beginning in 1
year.
The effective annual interest rate is 3.5%.
The total amount of principal repaid in the 9th
through 12th payments is $9,503.
What is the amount of interest paid in the 4th
payment? Possible answers are: 725 or 690 or 755 or 395 or 740.
Thanks

Encik Ramli borrows RM20,000 and will repay the loan under a
25-year annuity immediate payments. The annual repayment is
calculated at an effective interest rate of 8% with increment of
RM50 each year.
(i) Calculate the amount of the first payment.
(ii) Calculate the outstanding balance after the first three
payments have been made.
(iii) Explain your answer to part (ii)
(iv) Calculate the total amount of interest paid over the term
of the loan.

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