A bank makes a loan with the following characteristics: monthly payments for 10 years, with an APR of 6%. The amount loaned is $200,000. What is the duration of the loan? What is the expected change in loan value if the interest rate decreases by 1 percentage point immediately after approving the loan. Choose the closest answer below. 5.32 years; -$10,037   3.21 years; $6,056   4.55 years; -$8,577   6.74 years; $12,716

Based on the following information, what is the balance of the loan after 5 years? Sale price: $500,000 Loan-to-value ratio: 0.70 Interest rate: 5% Mortgage term: 25 years with monthly payments

1. Consider a home mortgage of ​$150,000 at a fixed APR of 4.5​% for 25 years.   a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount​ paid, what percentage is paid toward the principal and what percentage is paid for interest.     2. Someone needs to borrow ​$11,000 to buy a car and the person has determined that monthly payments of ​$225 are affordable. The bank offers a 3​-year loan at 7​% ​APR, a 4​-year loan at 7.5​%, or a 5​-year loan at 8​% APR. Which loan best meets the​ person's needs? Explain.       Question content area bottom Part 1 Which loan best meets the​ person's needs? ​(Round to the nearest cent as​ needed.)   A. The first loan best meets the​ person's needs because the monthly payment of ​$enter your response here is less than the maximum budgeted amount of ​$225 per month.   B. The second loan best meets the​ person's needs because the monthly payment of ​$enter your response here…

How large must each annual payment be if the loan is for $50, 000? Assume that the interest rate remains at 10% and that the loan is still paid off over 5 years.

The following loan is a simple interest amortized loan with monthly payments. $5000, 91%, 4 years (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $ (b) Find the total interest for the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest $

You borrow a GPM of $120,000 with annual payments and 30-year term.  The interest rate is 10%. The payment rises by 2% each year.   please show how to solve using excel to answer a. b. and c. below  a. What are the annual payments for years 1 to 30? b. What is remaining balance at the end of each year? c. What are the interest payment and principal payment for years 1 to 30?

Given the following loan information: Annual loan payment = $47,100 Number of remaining periods = 6 Interest rate = 12% What is the book value of the loan?

Consider a student loan of ​$12,500 at a fixed APR of 12​%for 25 years. What is the monthly payment?​(Do not round until the final answer. Then round to the nearest cent as​ needed.) The total payment over the term of the loan is?​(Round to the nearest cent as​ needed.)  Of the total payment over the term of the​ loan ​%? is paid toward the principal and ​%? is paid toward interest.

Consider a 30-year, 6% loan for $240,000 with fixed monthly payments. a) What will be the remaining mortgage balance after the first 6 years? b) How much of interest is to be paid over the first 6 years? c) How much of principal reduction is to take place over the first 6 years?

Consider an amortized loan of $41,000 at an interest rate of 7.9% for 8 years. What is the total interest owed? Round to the nearest dollar.