Today, Cari purchased a car worth P1.5 million. A down payment of P150,000.00 has been made, and the remaining balance is to be amortized through 36 payments to be made at the end of each month, with the first payment due one month after the car was purchased. The interest on the outstanding balance is 6.5% compounded monthly. a. Determine the required monthly payments to retire the debt. b. Construct the first five rows of the table showing the amortization of the loan.
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- A man buys a house for $350,000. He makes a $150,000 down payment and amortizes The rest of the purchase price with semi annual payments over the next 10 years. The interest rate on the debt is 13% compounded semi annually. A.find the size of each payment B.find the total amount paid for for the purchase C.find the total interest paid over the life of a loan1. Mary made a loan of P58,000 to supply her new business. It is to be amortized by ten equal payments of P6,300 at the end of each quarter. a. What is the semi-annual interest needed to amortize the loan? b. Make an amortization schedule showing the distribution of the payments.Edwill just purchased a new home costing R1107900,00 by paying R120000,00 cash on the purchase date, and agreeing to make payments at the end of the following eight years for the remainder owed; the first payment is due one year after the purchase date. The interest rate is 7,4 % per annum,compounded yearly. Considering the amortisation schedule, the percentage rounded to two decimal places, of the total payments made the first two years that will go forward repayment of interest, is
- A man buys a house for $330,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 10 years. The interest rate on the debt is 8%, compounded semiannually.(a) Find the size of each payment.$ (b) Find the total amount paid for the purchase.$ (c) Find the total interest paid over the life of the loan.$Ruby Bakeshop obtains a loan of P500,000, with interest at 8% compounded quarterly, for the construction of a new branch in Angeles City. The owner will repay the loan by payments made quarterly for 2 1/2 years. Create an amortization schedule to answer the following questions: 1. How much principal repayment paid in the 9th payment period? 2. How much is the present outstanding balance on the 7th payment period? 3. How much is the total interest? 4. How much is the interest paid in the 5th payment? 5. Find the quarterly payment.Rally bought a brand new car for P 600,000. He pays a down payment of P 150,000, balance to be amortized for the next 4 years at an interest rate of P 12% compounded monthly. a. Determine his periodic payment b. OP after 2 years c. Construct an amortization schedule.
- 1. Mr. Andi bought a machine and agreed to a loan of Rp. 1,000,000.00 which can be paid in installments every year in 8 installments with an interest rate of j12=18%. Prepare an amortization schedule that pays interest and principal if:A. The first payment is today.b. The first payment is 1 year away.Vincent received a loan of $28,000 at 4.25% compounded monthly. She had to make payments at the end of every month for a period of 5 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Complete the partial amortization schedule, rounding the answers to the nearest cent. Payment Number Payment K 0 1 2 0 0.00 0 0 Total :: :: $0.00 $0.00 $0.00 $0.00 $0.00 Interest Portion Principal Portion $0.00 $0.00 :: :: $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Principal Balance $28,000.00 $0.00 $0.00 :: $0.00 $0.00 0.00Using MS Excel A couple purchased a house and lot and signed a mortgage contract with a bank for P8,000,000 to be paid in equal monthly payments over 25 years with interest at 5.25%. Find the monthly payment and construct an amortization table. (Show the first 6 payments only)
- A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $103,000.00 for 27 years at a 4.1% annual interest rate, with interest compounded monthly, and will make monthly payments of $526.17. (Round all answers to 2 decimal places.) Create an amortization table to answer the following: a) What is the unpaid balance after 11 months? $ 100410.01 b) Over the 11 months in part (a), how much total interest did she pay? SRiley takes out a loan L of 3000 dollars to buy a car at an effective annual rate of interest of 6%. He repays the loan by making level annual payments at the end of each year for 10 years, using the amortization method. Find the amount of principal repaid in the 3rd payment. Posible Annwers 180.00 | 227.60 | 231.62 242.95 255.74Edwill just purchased a new home costing R1 107 900,00 by paying R120 000,00 cash on the purchase date, and agreeing to make payments at the end of each of the following eight years for the remainder owed; the first payment is due one year after the purchase date. The interest rate is 7,4% per annum, compounded yearly This is illustrated by the following time line ears 07, per anm, componded anmaly Considering the amortisation schedule, the percentage, rounded to two decimal places, of the total payments made the first two years that will go toward repayment of Interest, is