a 5-year $10,000 loan requiring monthly payments at a fixed rate of 9% is amortized into five-year monthly payments. How much is the monthly payment?       $711.11     $312,55     $677.33     $207.58     $234     $678.90     $333.14     $450

Q: Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.)…

A: First, we need to compute the annual payment required to pay off this loan in 3 years and then using…

Q: To borrow $1,200, you are offered an add-on interest loan at 9 percent. Two loan payments are to be…

A: Borrowed Amount = $1,200 Interest Rate = 9% Time Period = 1 Years

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A: To Find: Single Payment to settle debt four years from now

Q: A loan can be repaid in two ways: (i) a perpetuity- due with annual payment $1000; (ii) a 3-year…

A: Deferred Annuituy occurs where the payment is delayed by a specified period. During this period the…

Q: Loan Rp. 1,000,000,000 is subject to 15% annual interest and must be returned in uniform annual…

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Q: A twenty-year loan of $15,000 is being repaid with payments of X every other year beginning at the…

A: Loans are paid by equal payments that carry the payment of interest and loan.

Q: Find the Simple Interest on a $ 50,000 loan at 15 ½2 % annual interest for ¾ year.

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Q: 5. A loan L is repaid with twenty annual payments. The total amount of each payment is $1,200. The…

A: Introduction Payments paid yearly are payments required by law. Similar to savings and investment…

Q: A $200,000 loan amortized over 15 years at an interest rate of 10% per year requires payments of…

A: Given, Loan Amount = $200,000 Time Period = 15 Years  Rate = 10%

Q: A 20-year loan of 20, 000 may be repaid under the following two methods: i. amortization method with…

A: given that: Loan Amount=20000 Loan period= 20 years The excel formula is:

Q: A car loan is taken for $20,000 to be paid back in 6 years, with monthly payments of $304. What…

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Q: A loan of $34,200.00 at 5.50% compounded semi-annually is to be repaid with payments at the end of…

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Q: a 5-year $10,000 loan requiring annual payments at a fixed rate of 9% is amortized into five-year…

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Q: The quarterly pay

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A: The Annual Percentage Rate(APR) of the loan can be calculated using the RATE function in Excel.

Q: 14) A loan of $8000 is to be repaid with monthly payments for three years at 12% interest compounded…

A:

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Q: 2. $6500 was borrowed at an interest rate of 12% compounded semi-annually. If the loan is to be paid…

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Q: A demand loan of $3000.00 is repaid by payments of $1500.00 after two years, $1500.00 after four…

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Q: 25. A loan of R15,000 is charged at an annual interest rate of 8%, compounded monthly. If the loan…

A: Future value is that amount which will be require to paid at some specified period of time. It…

Q: A partially amortizing loan for $100,000 for 10 years is made at 9 percent interest. The lender and…

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Q: You borrow ksh 1,000,000 from a bank for 5 years at 10% compound interest .The loan is repayable in…

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A: Therefore, P*[1-1/(1+r)^n]/r = 125,000  => P*[1-1/(1+7%)^4]/7% = 125,000 =>P*[1-0.7628]/7% =…

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A: Answer Correct option $6,467.70

Q: You take out 1 $10,000 loan for 7 years at an annual interest rate of 5% and with fixed annual loan…

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Q: A loan charging 6% interest compounded semi-annually, was repaid in three installments in 1 year:…

A:

Q: Find the amount of the payment necessary to amortize each of the given loans. 53. $32,000 at 8.4%…

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Q: A $45,000 loan at 8.7% compounded semiannually is to be repaid by semiannual payments of $3,300…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

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A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

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Q: A house costs $147,000. It is to be paid off in exactly ten​ years, with monthly payments of…

A: Given information: Cost of house is $147,000 Monthly payment is $1,783.52 Number of years is 10

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A: Quarterly payment = Q Loan amount (L) = P 50000 r = 10% per annum = 2.5% per quarter n = 1 year = 4…

Q: pay $12,944.85. The total of the payments is $103,558.80 with a total interest payment of…

A: Given  Rate of Interest = 5.5% Loan Amount = $82,000 No. of Periods = 8

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.