Question
A debt of $45,000 is repaid over 8 years with payments occurring monthly Interest is 5...
A debt of $45,000 is repaid over 8 years with payments occurring monthly Interest is 5 % compounded annually.
(a) What is the size of the periodic payment?
(b) What is the outstanding principal after payment 23?
(c) What is the interest paid on payment 24?
(d) How much principal is repaid in payment 24?
Homework Answers
Answer #1
SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE
SOLVE USING BA II PLUS
FINANCIAL CALLCULATOR
Not the answer you're looking for?
Similar Questions
A debt of $14,300 with interest at 8 % compounded semi-annually is repaid by payments of...
A debt of $14,300
with interest at 8 %
compounded semi-annually
is repaid by payments of $2,100
made at the end of every 3 months.
Construct an amortization schedule showing the total paid and
the total cost of the debt.
Complete the amortization schedule. (Round to the nearest cent
as needed.)
Payment Number
Amount Paid
Interest Paid
Principal Repaid
Outstanding Principal Balance
0
$14,300
1
$2,100
$
$
$
An $600,000 Mortgage is amortized by monthly payments over 25 years. The interest rate charged is...
An $600,000 Mortgage is amortized by monthly payments over 25
years. The interest rate charged is 4% compounded
semi-annually.
1.What is the size of the monthly payment to the nearest
dollars?
2.How much interest paid in the first payment?
3.What is the outstanding balance after the first
payment?
5) A debt of $5000.00 is to be repaid by payments of $2000.00 after two years,...
5) A debt of $5000.00 is to be repaid by payments of $2000.00
after two years, $2500.00 after three years and a final payment
after five years. Determine the size of the final payment if
interest is 10% p.a. compounded semi-annually.
Consider a $350,000 mortgage that is to be repaid over 25 years at 2.52% compounded semi-...
Consider a $350,000 mortgage that is to be repaid over 25
years at 2.52% compounded semi- annually. Assume that the payments
are done at the end of each month. Find the outstanding balance,
interest and principal payment after 8 years.
a loan, amortized over 5 years, is repaid by making payments of $1200 at the end...
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?
debt of $42000 is repaid by making payments of $4500. If interest is 9% compounded monthly,...
debt of $42000 is repaid by making payments of $4500. If
interest is 9% compounded monthly, for how long will payments have
to be made at the end of every six months? What payment made at the
end of each year for 18 years will amount to $48000 at 4.2%
compounded monthly?
What payment made at the end of each year for 18 years will
amount to $48000 at 4.2% compounded monthly?
A demand loan of $8000.00 is repaid by payments of $3500.00 after two years, $3500.00 after...
A demand loan of $8000.00 is repaid by payments of $3500.00
after two years, $3500.00 after four years, and a final payment
after eight years. Interest is 7% compounded monthly for the first
2 years, 8% compounded semi-annually for the next two years, and
8% compounded quarterly thereafter. What is the size of the final
payment?
A loan was repaid over seven years by end-of-month payments of $450. If interest was 12%...
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 $265000 mortgage is repaid over 25 years by making monthly payments of $1672. What is...
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%...
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.
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 3 minutes ago
asked 11 minutes ago
asked 25 minutes ago
asked 33 minutes ago
asked 45 minutes ago
asked 48 minutes ago
asked 49 minutes ago
asked 53 minutes ago
asked 58 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago