40. How much is the remaining liability after the 6th payment?
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answer number 40, 41, and 42 with solutions
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- For 36 - 40: Albert borrowed P180 000 to be repaid with equal quarterly payments for 2 2 years with an appraised value of P250 000 which the lender accepted, Given the first five rows of the amortization table of the loạn, answer the questions that follow. Regular Payment Period Loan Balance Interest Component of Principal Component of Payment Payment 180 000.00 163 748.22 147 130.78 20 301.78 16 251.78 16 617.44 4 050.00 20 301.78 3 684.33 16 991.34 17 373.64 130 139.44 112 765.79 20 301.78 3 310.44 20 301.78 2 928.14 36. How many payments are needed to discharge the loan? А. 2.5 В.5 C. 10 D. 12 collateral ratio? 01234Complete the first three lines of an amortization schedule for the following loan. Assume monthly payments. amount, $6000; rate, 9%; time, eighteen months Fill out the amortization schedule below, assume monthly payments and round all values to the nearest cent. Payment Amount of Interest Applied to Number Payment Payment Principal 2 3 $ $ $ Balance $6000 $ $Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment Paid Principal Balance 11.6% $425.57 $64.23 $361.34 $6,280.78 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 11.6% $425.57 $64.23 $361.34 $6,280.78 (Round to the nearest cent as needed.)
- 40. How much is the remaining liability after the 6th payment? A. P9 500.13 C. P7 976.51 B. P9 421.07 D. P7 683.70Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 Fill out the amortization schedule below. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 $______ $_______ $_______ $_____ (Round to nearest cent as needed)Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Rate Payment 6.7% $468.39 Fill out the amortization schedule below. Interest Paid $42.28 Annual Interest Rate 6.7% Interest Paid $42.28 $ (Round to the nearest cent as needed.) Payment $468.39 Paid on Principal $426.11 Paid on Principal $426.11 $ Balance $7,150.14 Balance $7,150.14 $
- Find the payment necessary to amortize a 5.5% loan of $7700 compounded semiannually, with 6 semiannual payments. Find (a) the payment necessary to amortize the loan and (b) the total payments and the total amount of interest paid based on the calculated semiannual payments. Then create an amortization table to find (C) the total payments and total amount of interest paid based upon the amortization table. a. The semiannual payment needed to amortize this loan is $ (Round to the nearest cent as needed.) b. The total amount of the payments is $ (Round to the nearest cent as needed.) The total amount of interest paid is $ (Round to the nearest cent as needed.) c. The total payment for this loan from the amortization table is $ %24 The total interest from the amortization table is $The following loan was paid in full before its due date. a) Find the value of h using an appropriate formula. b) Use the actuarial method to find the amount of unearned interest. c) Find the payoff amount. Regular Monthly Payment APR # of Payments Remaining after Payoff 8.7% 4 $214 What is the finance charge per $100 financed? h = $ (Round to the nearest cent.) The unearned interest is about $ (Round to the nearest cent.) The payoff amount is $ Enter your answer in each of the answer boxes. f12 inser f9 f1o f7 fg f6 f4 f5 esc 5 7 8. %24 3 %23A home is purchased for $229,000 with an amortized loan over 30 years at an interest rate of 4.6%. The payments on the loan will be $1,173.96. Complete the first three lines for an amortized loan schedule. Payment # Payment Interest 1 2 Principal Paid Extra Payment Balance After Payment
- a. Complete an amortization schedule for a $12,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 11% compounded annually. If an amount is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance $4 b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Do not round intermediate calculations. Round your answers to two decimal places. % Interest % Principal Year 1: % Year 2: % Year 3: % % %24 %24 %24 %24 3.You have taken a loan of $78,000.00 for 20 years at 4.9% compounded quarterly. Fill in the table below, rounding all values to the nearest cent. Note that the principal column is listed before the interest column even though the interest calculation is done first. Many lending institutions use this order in the amortization schedules they provide to their customers. Payment number Payment amount Principal Amount Interest 0) 1) 2) 3) $ S $ $ s Balance $78,000.00 $Raymond borrowed $3,000.00 from Loans R Us Company. The line of credit agreement provided for repayment of the loan in equal monthly payments of $668.76 which includes interest of 9.00 % per annum calculated on the unpaid balance. a. What is the monthly rate of interest? b. Calculate the outstanding loan balance at the end of the third payment c. What are the total interest charges? d. How many payments are required to pay off the loan e. What is the final Payment