Question

PLEASE CAN YOU SOLVE THIS IN EXCEL GIVING THE USED FORMULAS We contract a debt of...

PLEASE CAN YOU SOLVE THIS IN EXCEL GIVING THE USED FORMULAS

We contract a debt of $ 1000 over 1 year at 10% monthly capitalization, which will be repaid in 12 equal monthly payments. What will be the amount of each monthly payment

a) if the first one falls due one month after the loan?

b) if the first expires when the contract is signed?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Please refer to below spreadsheet for calculation and answer. Cell reference also provided.

Cell reference -

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
This morning, you borrowed $162,000 to buy a house. The mortgage rate is 4.35 percent. The...
This morning, you borrowed $162,000 to buy a house. The mortgage rate is 4.35 percent. The loan is to be repaid in equal monthly payments over 20 years with the first payment due one month from today. Assume each month is equal to 1/12 of a year and all taxes and insurance premiums are paid separately. How much of the second payment applies to the principal balance? Please do not use excel $714.43 $721.14 $658.56 $743.38 $756.70
you take a one year installment loan of $1000 at an interest rate of 12% per...
you take a one year installment loan of $1000 at an interest rate of 12% per year (1% per month) to be repaid in 12 equal monthly payments. a. what is the monthly payment b. what is the total amount of interest paid over tge 12 month term of the loan?
19. You have just taken out an installment loan for $125,000. Assume that the loan will...
19. You have just taken out an installment loan for $125,000. Assume that the loan will be repaid in 12 equal monthly installments of $14,909.63 and that the first payment will be due one month from today. How much of your fifth monthly payment will go toward the repayment of the principle?
Answer using excel: Please show how you do it   on excel with formulas! 1. Given the...
Answer using excel: Please show how you do it   on excel with formulas! 1. Given the following information, calculate the effective borrowing cost (rounded to the nearest tenth of a percent). Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Monthly Payment: $1,225.00, Discount points: 2, Other Closing Expenses: $3,611. 
 A. 7.7% B. 8.2% C. 8.5% D. 9.1% 2. Suppose a potential home buyer is interested in taking a $500,000 mortgage loan that has a term of 30 years...
You have $50,000 in student loans. You set up a plan to repay this debt with...
You have $50,000 in student loans. You set up a plan to repay this debt with monthly payments over the next 15 years (so 180 total payments). Your first payment will be in one month, and you believe with raises at work that each payment can be 0.2% higher than the previous one (so, for example, if your first payment is $100, your second month payment would be $100.20). If your monthly interest rate on this loan is 0.4%, what...
A loan of $12,000 is to be repaid within one year with level monthly payments, due...
A loan of $12,000 is to be repaid within one year with level monthly payments, due at the beginning of each month. The 12 payments equal $1,000 each. A finance charge of $632 is also due with the first payment. Which of the following is closest to the effective annual interest rate on the loan? (A) 12.7% (B) 12.9% (C) 13.1% (D) 13.3% (E) 13.5% I'd appreciate it if you could let me know...
please answer all questions!!! 1. A loan may be repaid using the following two options of...
please answer all questions!!! 1. A loan may be repaid using the following two options of payments: i) Payments of 2,000 at the end of each year for eighteen years ii) Payments of 2,500 at the end of each year for nine years. Which of the following is closest to the effective annual interest rate being paid on the loan? A. 14% B. 17%. C. 20%. D.23%. E. 26% 2. A loan is being repaid by payments of 1100 at...
***Can someone show me how to do this in excel please*** 1. Wesson Metals has an...
***Can someone show me how to do this in excel please*** 1. Wesson Metals has an outstanding loan that calls for equal annual payments of $9,768.46 over the life of the loan. The original loan amount was $50,000 at an APR of 8.5 percent. How much of the FIRST loan payment is interest (what is the interest component of the first annual payment)? NPER    A. $3,525.61 RATE B. $3,780.93 PV C. $4,250.00 PMT D. $5,409.16 FV E. $5,987.53
A $10000 loan has an interest rate of 12% per year, compounded monthly, and 30 equal...
A $10000 loan has an interest rate of 12% per year, compounded monthly, and 30 equal monthly payments are required. a) If payments begin at the end of the first month, what is the value of each payment? b) How much interest is in the 10th payment? c) What would you enter into Excel to solve part b? d) What is the unpaid balance immediately after the 10th payment? e) If the 30 loan payments are deferred and begin at...
Solve using excel: A. Suppose you are considering the purchase of an apartment building that has...
Solve using excel: A. Suppose you are considering the purchase of an apartment building that has 12 units that can be rented out at $1,050 per month. You have estimated operating expenses and expected vacancy and collection losses for the first year to be $35,700 and $30,240, respectively. You also have estimated that you will be able to generate an additional $3,840 in the first year from garage rentals on the property. If the expected purchase price of the property...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT