Meriton Ltd borrows $ 100,000 at an interest rate of 11.5% per annum, repayable by equal monthly instalments over 20 years. Calculate the principal and interest components of the first and last repayments. Can you please solve step by step with the formula
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Meriton Ltd borrows $ 100,000 at an interest rate of 11.5% per annum, repayable by equal monthly instalments over 20 years. Calculate the principal and interest components of the first and last repayments. Can you please solve step by step with the formula
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- SportZ has negotiated a loan of $25 000 with interest at 7.6% per annum, to be paid as month-end payments of $2200.00 over the next year. Construct a loan amortization schedule to answer the following questions. i. How much interest is paid over the first two months? ii. How much of the principal is paid by the end of the first two months? iti. How much interest is paid over the term of the loan? iv. What is the amount of the final payment?]Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $87,000 at an APR of 6%, which will be paid off with monthly payments of $594 for 22 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. the annual interest rate is %, the number of payments per year is The amount borrowed is $ payment amount is $ b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? payments toward the loan and the total amount paid is $ c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is% and the percentage paid for interest is (Round to the nearest tenth as needed.) There are %. the loan term is years, and theSuppose you borrowed Php200,000 from a local bank having an interest of 8% per annum, compounded monthly. If the debt was to be amortized by 36 equal payments and the first payment is to be made at the end of the first month, (a) determine the monthly payment, and (b) construct an amortization schedule/table.
- 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 $Consider a loan of $98,000 at 7% compounded annually, with 12 annual payments. Find the following. (a) the payment necessary to amortize the loan (b) the total payments and the total amount of interest paid based on the calculated annual payments (c) the total payments and total amount of interest paid based upon an amortization table. ... (a) The annual 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 $ (Round to the nearest cent as needed.) The total interest from the amortization table is $ (Round to the nearest cent as needed.)1. A debt of P3,500 is to be amortized by 6 equal semiannual payments with interest at 6%compounded semiannually. Find the periodic payment and construct on amortization schedule. 2. Monthly payments of P800 each are used to settle a loan for 8 months at 8% compounded monthly. Find the present value of the loan and construct an amortization table.
- A company takes a loan of $ 1,200,000 to a bank amortizable in 4 with an interest of 15% per year under the following conditions; The years and company will amortize the debt in constant values in all periods, with a three-year grace period. Determine the benefits that the company must pay for its debt. Build the cash flow diagram.You have taken a loan of $92,000.00 for 35 years at a 4.9% annual interest rate, with interest compounded quarterly. Fill in the amortization table below to show how the payments will be applied to interest and principal: (Round all answers to 2 decimal places. Please note the order of the headings in the table - make sure you put the answers in the appropriate columns as layed out below.) Payment number Payment amount Principal Amount Interest 0) 1) 2) 3) $ LA tA +A LA $ Balance $92,000.00 tA LAYou obtain a loan for 1,500,000 payable in three equal annual installments of 500,000 each. Interest to be paid at 10% of the unpaid principal. Assuming an effective rate of 12%, compute for the present value of the loan as well as prepare a loan amortization table.
- You borrow $11,000 over a 5-year term. The loan is structured as an amortized loan with annual (end-of-year) payments and an interest rate of 5%. The annual payments are $2,540.72. How much of the second payment is a repayment of principal? Round your answer to two decimal places.A company has borrowed £776,600 from a bank. The loan is to be repaid by level instalments, payable annually in arrears for 18 years from the date the loan is made. The annual repayments are calculated at an effective rate of interest of 6.7% per annum for the first 8 years and 4. 6% per annum thereafter. Calculate, to 2 decimal places, the following: (i) The level annual payments of interest and capital: (ii) The total amount of capital repaid to the bank immediately after the 12th payment: Hint: This is the opposite of the loan outstanding. (iii) The total amount of interest paid to the bank during the first 12 years: Hint: Considering all of the payments made during the first 12 years.Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $87,000 at an APR of 5%, which will be paid off with monthly payments of $592 for 19 years. ... a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ the annual interest rate is%, the number of payments per year is the loan term is the payment amount is $ There are 1 b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? payments toward the loan and the total amount paid is $. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is% and the percentage paid for interest is%. (Round to the nearest tenth as needed.) years, and