Q: payments This already includes interest at 10.6% compounded monthly. Find the number of regular…
A: Information Provided: Price of Condominium = 2.8 million Monthly payments = 34,000 Interest rate =…
Q: Calculate the amount of the required monthly payment. (D. whole dollar amount.)
A: Monthly Payment: It is the payment made by the borrower to the lender for taking a loan. These…
Q: months, how much is the monthly payment?
A: Monthly Payment: Monthly payments represent payments made by the borrower to the lender for taking…
Q: Below the figure indicate the following amount: A. Cash Price B. Installment Scheme (Show the…
A: Required: A: Cash Price B: Installment Scheme i) Amount of down payment ii) Amount of monthly…
Q: How do banks calculate the monthly payment on a loan?
A: Present value annuity formula is used to calculate the monthly payment on a loan. Here, The loan…
Q: series during those five years to provide the amount to be paid directly. What is the amount of…
A: Loan Amount: It refers to the amount of credit provided by the lender to the borrower. The borrower…
Q: The term of the annuity is year(s) and month(s).
A: Annuity refers to the pattern of payment made at equal intervals. It is a type of long-term…
Q: a payment such as an utility bill (like electricity) for the month would include?
A: In this transaction, cash is paid for monthly utility bill. Utility bill is an expense,…
Q: Create a table for an ordinary annuity. Show the periodic deposits (up to 10 period and the…
A: N = time period = 10 Interest rate = 5% Annuity paid at end of each Year [Ordinary Annuity]
Q: The quarterly pay
A: The loan amount refers to the money which a person should owe from a bank or financial institution…
Q: Find the monthly house payment necessary to amortize the following loan.
A: Loan: It is the amount borrowed or amount taken as credit by the borrower from the lender. The…
Q: The Loan payoff schedule contains which of the following/s a. annual payment b. All of them
A: A loan payoff schedule is a payment schedule prepared for the loan payments. Whenever a loan is…
Q: How much is the quarterly deposit?
A: given FV = 25,000,000 i=2% n= 10*4=40 PMT=FV*i/((1+i)^n-1)
Q: hthly interest rates are of annual interest rates. O and then financed the balance through the…
A: Interest can be defined as an additional amount which is paid on any loan or deposit. Monthly…
Q: The amount to be financed is $ Amount to be repaid is $ Monthly payment is $
A: Time value of money (TVM) is used to measure the value of money at different point of time in the…
Q: find the monthly payment on the given loan. $
A: The total loan payment amount consists of interest and principal amount of loan. Loan= (Loan…
Q: Annuities where the payments occur at the beginning of each time period are.called refer to annuity…
A: An annuity is a series of uniform cash flows occurring at equal interval over a period of time.
Q: How much is VAT payable for the month of January 2022?
A: This question is related to the VAT so before moving into the question we know the meaning of VAT.…
Q: What is the average daily balance for this account? $[ How much interest is owed this month?
A: Credit card companies often and usually use the average daily balance method for the purpose of…
Q: What is the finance charge, on the average daily balance, for this card over this 1 month period?
A: Finance Charge is the interest charged by credit card companies over an outstanding amount. Average…
Q: An interest pays 1% interest rate, calculate the nominal rate of interest compounded weekly?
A: Interest rate can be defined as the percentage rate at which the interest over the investment or…
Q: You owe $190 on your credit card. billing cycle is 30 days, and the int What is your interest…
A: Average Daily Balance method Finance charges on your credit card is calculated using average Daily…
Q: compounded weekly. Determine the sıze of payments, and the total interest paid.
A: Amount borrowed by Jessica = $ 3300 She repays every week up to 2 years Interest Rate = 3%…
Q: Formulas In the provided formulas, Pis the deposit made at the end of each compounding period, ris…
A: Using the formula, A = P[{(1 + r/n)^nt} -1] / (r/n) where, periodic deposit (P) = $30 each month…
Q: what is the due date for a loan dated Nov 7 for 120 days?
A: Due date is the date on which the loan will mature. Loan is taken on November 7 for 120 days.
Q: What should the monthly payments be if Leons is to earn 15% compounded monthly on its account…
A: A stream of equal cash flows paid or received periodically is termed as annuity. Annuity is either…
Q: Annuities where the payments occur at the end of each time period are called whereas refer to…
A: An investment which entitles the investor to receive periodic streams of fixed cash flows is termed…
Q: Monthly payment of loan b, rounded to the nearest cent
A: Monthly payment for the loan is the amount paid for loan over a time.
Q: compounded quarterly, what was the loan principal?
A: Information Provided: Years = 20 Monthly payment = $1700 Interest rate = 5.70% compounded quarterly…
Q: What is the total payback amount of the loan? What is the amount of each payment? /month What is the…
A: Time value of money (TVM) refers to the method used to measure the amount of money at different…
Q: Express the term Effective interest rate per payment period, quarterly payments with weekly…
A: The term Effective interest rate per payment period is the interest rate that is computed for…
Q: Find the effective rate of interest for an account with a stated rate of 14% compounded monthly.…
A: Effective annual interest rate is referred as the interest rate which is adjusted for compounding…
Q: Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days…
A: Given information: Balance amount $3,000 Periodic rate is 17% Payment is $2,500
Q: An account pays 2.9% compounded continuously. What is the effective quarterly rate?
A: The continuously compounded rate, r = 2.9%So the impact of continuous compounding on an amount, A…
Q: (a) What is the starting balance at the beginning of the 4th month? (b) What is the starting balance…
A: Using Microsoft excel to solve the given problem.
Q: Calculate the annual net premium (paid at the beginning of each year) and the net premium reserve at…
A: Multiple decrement models are the models which shows the causes of various decrements during the…
Q: e table for the first month below. Monthly payment End-of-month Interest Principal principal e…
A: You have to use table to get monthly payments.
Q: How much is the VAT Payable in April?
A: Vat is a Value added tax, it is a consumption tax on goods and services, Vat is levied at each stage…
Q: monthly payment is required
A: TVM concept states that the value of money which we have today is worth more than the value of money…
Q: If an invoice indicates that interest at the rate of 0.69% per month will be charged on overdue…
A:
Q: what type of annuity is this:
A: Annuity Payments: These are financial products having payment periodic in nature and are regular in…
Q: How much do ten ₱ 6,945 quarterly payments amount at present,
A: Time Value of Money (TVM) concept is used to discount the future cash flows or to compound the…
Q: What is the true rate of the cost of credit on a YEARLY basis? interest rate (your response)…
A: Cost of credit is the additional amount over the amount borrowed. It should be repaid by the…
Q: The simple interest rate charged If the principal and interest are to be paid in seven months, how…
A: We need to use simple interest formula to calculate simple interest amount. The formula is Simple…
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- Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $989 per month, and the total finance charge is $9,504. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $). (Round your answer to the nearest cent.) Need Help? Read It Watch It Master ItFind the monthly payment and estimate the remaining balance. Assume interest is on the upaid balance. 3 year computer loan for $3285 at 6.6%, remaining balance after 2 years. The monthly payment is $ (Round to the nearest cent as needed.) The remaining balance is $ (Round to the nearest dollar as needed.)Suppose that you decide to borrow $15,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 6.3% Installment Loan B: five-year loan at 5.2% Use PMT= nt] to complete parts (a) through (c) below. The total interest for Loan A is $1501.35. (Round to the nearest cent as needed.) b. Find the monthly payments and the total interest for Loan B. The monthly payment for Loan B is $284.42 (Do not round until the final answer. Then round to the nearest cent as needed.)
- Suppose you secure a home improvement loan in the amount of $5,000 from a local bank. The loan officer gives you the following loan terms:• Contract amount = $5,000• Contract period = 24 months• Annual percentage rate = 12%• Monthly installment = $235 .37Shown is the cash flow diagram for this loan. Construct the loan payment schedule by showing the remaining balance, interest payment, and principal payment at the end of each period over the life of the loan.MY NOTES ASK YOUR TEACHER Teal and Associates needs to borrow $65,000. The best loan they can find is one at 11% that must be repaid in monthly installments over the next years. How much are the monthly payments? (a) State the type. O future value O ordinary annuity O amortization O sinking fund O present value (b) Answer the question. (Round your answer to the nearest cent.) 2$ Need Heln? Read ItYou want to buy a bus. Cost is $180,000 with 10% down and the rest in 7 equal annual payments which include interest at 6%. The payments begin in one year. How much are the payments? Amortize the loan. Record the Journal Enteries.
- Find the monthly payment and estimate the remaining balance. Assume interest is on the unpaid balance. 4-year computer loan for $3106 at 5.7%; remaining balance after 2 years. The monthly payment is $. (Round to the nearest cent as needed.) The remaining balance is $. (Round to the nearest dollar as needed.)Construct an amortization schedule (monthly) with the followings: House Price: 700,000 Down Payment: 20% of House Price Loan Period: 30 years Interest rate: 5.78% To get full credit, you must use Excel functions with relative cells to change the amortization schedule with variables such as price, interest, and load period. Please submit your Excel spreadsheet. (No other files are accepted)Find the monthly payment and estimate the remaining balance. Assume interest is on the unpaid balance. 4-year computer loan for $2560 at 5.6%; remaining balance after 2 years. The monthly payment is $ (Round to the nearest cent as needed.)
- ou plan to purchase a car that costs $42,100. You deposit a down payment of $4,000 and finance the remaining amount over a period of 5 years. Your quoted annual rate is 9.30% compounded monthly Create a single-variable data table in Excel highlighting the monthly payment as a function of the length of the car loan. The table should indicate monthly payment figures for a loan term of a minimum of 2 years and a maximum of 7 years.Suppose that you decide to borrow $15,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 5.9% Installment Loan B: five-year loan at 4.8% P Use PMT = to complete parts (a) through (c) below. - nt 1- 1+ a. Find the monthly payments and the total interest for Loan A. The monthly payment for Loan A is $. (Do not round until the final answer. Then round to the nearest cent as needed.)Suppose that you decide to borrow $13,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 6.3% Installment Loan B: five-year loan at 4.8% P. Use PMT = to complete parts (a) through (c) below. - nt 1- a. Find the monthly payments and the total interest for Loan A. The monthly payment for Loan A is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for Loan A is $. (Round to the nearest cent as needed.) b. Find the monthly payments and the total interest for Loan B. The monthly payment for Loan B is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for Loan B is $. (Round to the nearest cent as needed.) MacBook Air