Question

If you borrow $1,800 and agree to repay the loan in four equal
annual payments at an interest rate of 10%, what will your payment
be? **(Do not round intermediate calculations. Round your
answer to 2 decimal places.)**

**b.** What will your payment be if you make the first
payment on the loan immediately instead of at the end of the first
year? **(Do not round intermediate calculations. Round your
answer to 2 decimal places.)**

Answer #1

**SEE THE IMAGE. ANY DOUBTS,
FEEL FREE TO ASK. THUMBS UP PLEASE**

**As nothing was mentioned
excel is used. If you need with formula, let me know, will do that
also. Thank you.**

a. If you borrow $1,700 and agree to repay the loan in six equal
annual payments at an interest rate of 11%, what will your payment
be? (Do not round intermediate calculations. Round your answer to 2
decimal places.)
b. What will your payment be if you make the
first payment on the loan immediately instead of at the end of the
first year? (Do not round intermediate calculations. Round
your answer to 2 decimal places.)

Consider a 4-year amortizing loan. You borrow $2,900 initially
and repay it in four equal annual year-end payments. a. If the
interest rate is 9%, what is the annual payment? (Do not round
intermediate calculations. Round your answer to 2 decimal places.)
b. Prepare an amortization schedule. (Do not round intermediate
calculations. Round your answers to 2 decimal places. Leave no
cells blank - be certain to enter "0" wherever required.)

You borrow $100,000 today. You will repay the loan with 20 equal
annual payments starting in year 3 If the interest rate on the loan
is 5% APR, compounded annually, how big is each payment?

Assume you borrow $50,000 at 10% per year in- terest and you
agree to repay the loan in five equal annual payments. What is the
amount of the unre- covered balance immediately after you make the
third payment? both excel and hand solutions , please capture the
excel solution.

You want to borrow $22,425. You must repay the loan in 12 years
in equal monthly payments and a single $2,894 payment at the end of
12 years. Interest rate is 14% nominal per year.What will be the
loan balance immediately after the 50th payment?

You want to borrow $44,536. You must repay the loan in 6 years
in equal monthly payments and a single $3,319 payment at the end of
6 years. Interest rate is 3% nominal per year.
What will be the loan balance immediately after the
32th payment?

You are the loan officer of a bank. The ABC Company wants to
borrow $100,000 and repay it with four equal annual payments (first
payment due one year from now). You decide that the ABC Company
should pay 0.10 per year on the loan.
a. What is the annual payment?
b. Complete the following debt amortization table:
Period
Amount owed(beginnig of yr)
Interest
Principal
Amount owed(end of yr)
1
$100,000
2
3
4
c. What would be the annual payment...

Problem 5-46 EAR of Add-On Interest Loan (LG7, LG8)
To borrow $1,550, you are offered an add on interest loan at 8.3
percent with 12 monthly payments. Compute the 12 equal payments.
(Round your answer to 2 decimal places.)
Equal payments
$
Compute the EAR of the loan. (Do not round intermediate
calculations and round your answer to 2 decimal
places.)
EAR
%

You borrow $10,000 on January 1 and agree to pay off the loan
with 10 annual end-of-year payments. Your annual effective interest
rate is 5%. Complete the loan amortization table shown below for
payment number 5 and payment number 6.
Payment number Payment Amount
Principal Interest Loan Balance After Payment
5
6

You borrow $15,000 for your tuition costs. You agree to make
payments at the end of each month for the next 10 years. If the
interest rate on this loan is 6%, how much is your monthly payment?
How much do you still owe after 20 payments?

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