Question

You receive a $13,000 4-year constant payment loan (CPL). The loan's annual interest rate is 15%....

You receive a $13,000 4-year constant payment loan (CPL). The loan's annual interest rate is 15%. What is the principal portion of the total payment in year 4, rounded to the nearest dollar?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The principal portion in year 4 is 3960

Calc:

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
You receive a $16,000 4-year constant payment loan (CPL). The loan's annual interest rate is 8%....
You receive a $16,000 4-year constant payment loan (CPL). The loan's annual interest rate is 8%. What is the principal portion of the total payment in year 4, rounded to the nearest dollar?
You receive a $24,000 5-year constant amortization loan (CAL). The loan's annual interest rate is 6%....
You receive a $24,000 5-year constant amortization loan (CAL). The loan's annual interest rate is 6%. What is the total payment in year 4, rounded to the nearest dollar?
You receive a $20,000 5-year constant amortization loan (CAL). The loan's annual interest rate is 10%....
You receive a $20,000 5-year constant amortization loan (CAL). The loan's annual interest rate is 10%. What is the total payment in year 4, rounded to the nearest dollar?
You receive a 4-year $11,000 negative amortization loan with an interest rate of 5% p.a., to...
You receive a 4-year $11,000 negative amortization loan with an interest rate of 5% p.a., to be repaid in four annual installments. The loan requires that you make total payments of $300 at t = 1, $400 at t = 2, and $300 at t = 3, with the remaining loan balance paid at maturity. What is the total payment amount at t = 4, rounded to the nearest dollar?
You receive a 10-year unsubsidized student loan of $18,000 at an annual interest rate of 6.6%....
You receive a 10-year unsubsidized student loan of $18,000 at an annual interest rate of 6.6%. What are your monthly loan payments for this loan after you graduate in 4 years? (Round your answer to the nearest cent.)
You receive a 10-year unsubsidized student loan of $30,000 at an annual interest rate of 5.4%....
You receive a 10-year unsubsidized student loan of $30,000 at an annual interest rate of 5.4%. What are your monthly loan payments for this loan after you graduate in 4 years? (Round your answer to the nearest cent.)
You receive a 10-year unsubsidized student loan of $31,000 at an annual interest rate of 5.6%....
You receive a 10-year unsubsidized student loan of $31,000 at an annual interest rate of 5.6%. What are your monthly loan payments for this loan after you graduate in 4 years? (Round your answer to the nearest cent.)
You borrowed Ȼ10,000 at 14% compound annual interest for four (4) years. The loan is repayable...
You borrowed Ȼ10,000 at 14% compound annual interest for four (4) years. The loan is repayable in four equal installments payable at the end of the year i. What is the annual payment that will amortize completely the loan over four years (you may wish to round to the nearest dollar) ii. Of each equal payment, what is the amount of interest and the amount of loan principal?
Consider a 4 year loan with annual payments. The interest rate is 12%, and the principal...
Consider a 4 year loan with annual payments. The interest rate is 12%, and the principal amount is $5,000. What is the annual payment?
You obtain a 265,000, 15 year fixed rate mortgage. The annual interest rate is 6.25%. In...
You obtain a 265,000, 15 year fixed rate mortgage. The annual interest rate is 6.25%. In addition to the principle and interest paid, you must pay $275 a month into an escrow account for insurance and taxes. What is the total monthly payment( to the nearest dollar$?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT