A 5-years, $6000 loan is being amortized with monthly payments at j12 = 10%. Just after making the 30th payment, the borrower has the loan refinanced at j12 = 8% with the number of payments to remain unchanged. What will be the monthly savings in interests?
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- Suppose that you need an amount of money which equals to $10000000. It is possible to find it from bank A at an annual interest rate of 18% under 12 equal payment. If the first payment will be 1 month later the day you used the loan. Find the CF (Cash Flow), the equal payments and prepare the amortization table.Answer the Situation below correctly show your complete solution. A loan of 30 000.00 Php is to be paid monthly for 5 years that will start at the end of 4 years . If converted monthly at 12 % , how much is the monthly payment ?a . The type of annuity illustrated in the problem is _________________.b. The total number of payments is ______.c . The number of conversion period in the period deferral is ___________________.d. The interest rate per period is _________.e . The present value of the loan is_______. (I just need the Solution) Answers: a. Deferred Annuity; b. 60; c. 47; d. 0.01; e. 30 000.00 PhpAnswer the Situation below correctly show your complete solution. A loan of 30 000.00 Php is to be paid monthly for 5 years that will start at the end of 4 years . If converted monthly at 12 % , how much is the monthly payment ?a . The type of annuity illustrated in the problem is _________________.b. The total number of payments is ______.c . The number of conversion period in the period deferral is ___________________.d. The interest rate per period is _________.e . The present value of the loan is_______.
- Suppose you want to borrow $90,000 and you find a bank offering a 20-year loan with an APR of 5%. a. Find your regular payments if you pay n = 1, 12, 26, 52 times a year. b. Compute the total payout for each of the loans in part (a). c. Compare the total payouts computed in part (b). a. The payment for n = 1 would be $ The payment for n = 12 would be $ The payment for n = 26 would be $ The payment for n= 52 would be $ (Do not round until the final answer. Then round to the nearest cent as needed.)1. Let's assume that a loan of $100,000 with an annual interest rate of 6% over 30 years pays monthly payments of $500. a. Calculate the accumulation rate b. Calculate the payment rate . c. Answer : How will the balance of the principal be at the end of the loan in relation to the original amount of the loan? Less, equal or greater? Provide calculations.Answer the Situation below correctly show your complete solution.I already provided the answer I just need the SOLUTION.( Annuities )A loan of 30 000.00 Php is to be paid monthly for 5 years that will start at the end of 4 years . If converted monthly at 12 % , how much is the monthly payment ?a . The type of annuity illustrated in the problem is _________________.b. The total number of payments is ______.c . The number of conversion period in the period deferral is ___________________.d. The interest rate per period is _________.e . The present value of the loan is_______. Answers: a. Deferred Annuity; b. 60; c. 47; d. 0.01; e. 30 000.00 Php
- Answer the following question correctly refer to the given problem below and show your Complete Solution (Given, Required, Equation, Solution, Answer). Mr. Quiton loans an amount of Php 30,000.00 which is to be paid monthly for 5 years that will start at the end of 4 years , if converted monthly at 12%, how much is the monthly payment ? 1. What is the type of annuity illustrated in the given problem? A. Simple Annuity B. General Annuity C. Deferred Annuity D. Complex Annuity 2. Compute for the interest rate per period. A. 0.01 B. 0.05 C. 0.10 D. 0.12 3. Determine the present value of the loan. A. Php 12,000.00 B. Php 30,000.00 C. Php 60,000.00 D. Php 75,000.00Sam would like to use the PMT function in Excel to calculate the monthly payments on a car loan of $35,000 which is to be paid off in full after 3 years. Interest is charged at a rate of 4.43% per year and the payment to the loan is to be made at the end of each month. Which function argument is correct? (Reminder: =PMT(rate, nper, pv, [FV], [type]) =PMT( 4.43%, 36, -35000) =PMT( 4.43%/12, 36, -35000) =PMT( 4.43%/12, 3, -35000) =PMT( 4.43%, 3, -35000)you are analyzing a GPM. the terms are $60,000 loan amount, 9% note rate, 30 years, monthly payments, OFV, payments in year one based based upon 7%, and payment in year two based on 8%. how much will you owe on this loan at the end of the second year? Please assist, using HP 10bII+.
- Use the appropriate function(s) in Excel to answer the following questions. How much would your monthly payment be on a 3-year loan if the following assumptions were true? You borrowed $7,400. The fixed APR on the loan is 3.2%. Note: A fixed APR is an annual interest rate that does not change during the 3-year period. You will make equal monthly payments to repay both the loan amount and the monthly interest charges. You want to completely pay off the loan in exactly 3 years. (Round to the nearest cent, do not include a negative sign) Note: while this money is "leaving your wallet" the negative sign should not be included in the numeric answer because it is already implied by the word "payment" What is the total amount that you would pay to the bank over this 3-year period? Hint: Be sure to use your rounded answer from the previous step in the calculation of this answer. (Round to the nearest cent, do not include a negative sign) How much total interest would you have paid…1. If you receive $176 each month for 12 months and the discount rate is 0.04, what is the future value? (show the process and can use financial calculator)Give typing answer with explanation and conclusion Find the interest rate (or rates of return) in each of the following situations. Do not round intermediate calculations. Round your answers to the nearest whole number. You borrow $740 and promise to pay back $814 at the end of 1 year. % You lend $740 and receive a promise to be paid $814 at the end of 1 year. % You borrow $60,000 and promise to pay back $171,156 at the end of 8 years. % You borrow $11,000 and promise to make payments of $3,359.50 at the end of each of the next 5 years. %