Question

Calculate the amount the payment and create an amortization schedule for the following loan terms:

Car Purchase Price $30,000

Putting 10% down of your own money

The remaining purchase price will be paid by taking out a car loan.

The bank will loan you the money on the following terms:

Annual Interest Rate: 8%

3 year loan

Quarterly payments

Answer #1

Amortization Schedule
Consider a $50,000 loan to be repaid in equal installments at
the end of each of the next 5 years. The interest rate is 9%.
Set up an amortization schedule for the loan. Round your
answers to the nearest cent. Enter "0" if required
Year
Payment
Repayment Interest
Repayment of Principal
Balance
1
$
$
$
$
2
$
$
$
$
3
$
$
$
$
4
$
$
$
$
5
$
$
$
$
Total...

An amortization table reports the amount of interest and
principal contained within each regularly scheduled payment used to
repay an amortized loan.
Example Amortization Schedule
Year
Beginning
Amount
Payment
Interest
Repayment of
Principal
Ending
Balance
1
2
3
Consider the amount of the interest payments included in each of
the payments of an amortized loan. Which of the following
statements regarding the pattern of the interest payments is
true?
The portion of the payment going toward interest is smaller in...

Please create a Variable Interest Rate Loan Amortization
schedule with the columns: Year, Amount owed on the principal at
the beginning of the year, Annuity payment, Interest portion of the
annuity, Repayment of the principal portion of the annuity,
outstanding loan balance at year end
For the following:
You obtain a $6,000 loan from a furniture dealer at a variable
interest rate. The loan payments is adjusted every year based on
the annuity amount implied by interest rate of year...

Loan amortization schedule Personal Finance Problem Joan
Messineo borrowed $49,000 at a 3% annual rate of interest to be
repaid over 3 years. The loan is amortized into three equal,
annual, end-of-year payments.
a. Calculate the annual, end-of-year loan payment.
b. Prepare a loan amortization schedule showing the interest
and principal breakdown of each of the three loan payments.
c. Explain why the interest portion of each payment declines
with the passage of time.
a. The amount of the equal,...

1.
European Designs, Inc. has negotiated a commercial loan with TLC
Bank. The terms are that the company will borrow $210,000 for three
years at 6.75% interest with level total payments.
Do an amortization schedule for the loan and answer the following
questions:
Amount of the interest payment in year one ________________
Amount of the principal payment in year two _______________
Amount of the total payment in year three _________________
Balance of the loan at the end of year two...

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
_______

Create the amortization schedule for a loan of $12,500, paid
monthly over three years using an APR of 9 percent. Enter the data
for the first three months. (Round your answers to 2 decimal
places.)
beginning balance, total payment, interest paid, Principe paid
and ending balance. For all 3 years

Create the amortization schedule for a loan of $5,900, paid
monthly over two years using an APR of 8 percent. Enter the data
for the first three months. (Round your answers to 2 decimal
places.)
beginning balance, total payment, interest paid, Principe paid
and ending balance. For all 3 years

Loan amortization schedule Personal Finance
Problem Joan Messineo borrowed 41,000
at a 4% annual rate of interest to be repaid over 3 years. The
loan is amortized into three equal, annual, end-of-year
payments.
a. Calculate the annual, end-of-year loan
payment.
b. Prepare a loan amortization schedule
showing the interest and principal breakdown of each of the three
loan payments.
c. Explain why the interest portion of each
payment declines with the passage of time.

Janet wanted to buy a car so she borrowed a $10,000 from HSBC
Bank at a 10% annual rate of interest to be repaid quarterly over 2
years. The loan is amortized into eight equal quarterly payments.
a. Calculate the quarterly loan payment (A). b. Prepare the loan
amortization schedule.

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