A borrower had a loan of $7800 at 5.6% compounded semiannually, with 20 semiannual payments. Suppose the borrower paid off the loan after 3 years. Calculate the amount needed to pay off the loan.

Q: Suppose you borrow $8500 for a term of five years at a simple interest and 8.25% APR. how much is…

A: Interest is the cost of borrowing the money.

Q: Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $87,000 at an APR…

A: Here, Borrowed Amount is $87,000 APR is 5% Time Period is 19 years Monthly Payment is $592

Q: Vijay

A: To calculate the Net Present Value (NPV) of the project and the Internal Rate of Return (IRR), we'll…

Q: What is the payment for a loan of $320000 with an interest rate of 8.13% compounded monthly for 6…

A: using financial calculator to solve the monthly payment

Q: (1) The total amount of a loan to which interest has been added is P 200,000. The term of the loan…

A: Data given: Total interest = P200,000 t=4.5 years Simple interest = 6%   Formula for simple interest…

Q: The monthly payments on a 15-year loan of $20,000 at 6.8% interest are $177.54. (a) What is the…

A: Ordinary annuity is when the PMTs are made at the end of the period.

Q: Suppose you secure a loan in the amount of $5,000 for the contract period of 24 months. If the…

A: Monthly repayment on a loan is the amount a borrower is required to pay each month to the lender,…

Q: How much would she pay per month if she is to repay the loan in two years

A: We can determine the monthly payment by using the formula below:In the formula above r = monthly…

Q: The following loan is a simple interest amortized loan with monthly payments. (Round your answers to…

A: Using excel PMT function

Q: Consider a loan of $98,000 at 7% compounded annually, with 12 annual payments. Find the following.…

A: Loan amortization can be defined as the procedure of amortizing the loan in such a way that the loan…

Q: Assume that you want to buy a house and have to borrow $80.000 over a term of 25 years. The annual…

A:

Q: Suppose a borrower makes a $100,000 loan with annual payments at a 10 percent rate and a 10-year…

A: Annuity:   An annuity is the series of payments which is received or paid for a fixed period of…

Q: 4) Monthly payments are required on a $35,000 loan at 6.0% compounded monthly. The loan has an…

A: Monthly payment refers to an amount that is paid every month for the repayment of loan amount…

Q: Which of the following is NOT true about competitive dynamics? High market commonality and high…

A: Competitive dynamics refer to the interactions among firms in a competitive market. It is a critical…

Q: monthly. Then compute for the

A: Compound interest is used in case of lump-sum money accumulates in the future if interest is charged…

Q: What is the simple interest rate on a loan of 2,000.00 that was paid 2,600.00 after 2 years and 6…

A: Interest = Amount - Principal Interest = 2,600 - 2,000 Interest = 600 Time = 2 years 6 months = 2.5…

Q: You borrowed $5,000 for 24 months at 6% interest. What is the total payback on the Single Payment…

A: Total payback on the Single Payment loan - It es the payback of the loan at a single payment…

Q: Doreen Short was looking over the repayment schedule for a loan of $37,858 at 7% interest for 5…

A: The remaining balance after making payments for 15 months as the remaining payments will be 45 is…

Q: If a person has taken a home loan of 50000 TL with an annual effective interest rate of 12% and his…

A: A home loan is taken in order to finance the purchase of a house. The borrower makes regular…

Q: What is the total interest paid on a loan of $5,000 at APR = 10% for one year.

A: Loan amount = $5000 Interest rate = 10% Period = 1 year

Q: Suppose a customer has to pay a total amount of PhP 20,676 as a payment of a personal loan at the…

A: Solved using Financial Calculator  FV = 20,676 N = 3.5 * 4 = 14 I/Y = 4/4 = 1  CPT PV = 17,987.35

Q: What is the total interest paid on a loan of $5,000 at APR = 8% for one year.

A: Loan amount (LV) = $5000 Interest rate (r) = 8% Period (n) = 1 Year

Q: What is the simple interest due on a 5 year loan of 4,00,000 if the annual rate is 6%.

A: Simple Interest is a method of calculating interest on the loan. It is calculated on the amount…

Q: Determine the monthly payment for the installment loan. Amount Financed​ (P) =$1000 Annual…

A: We will use following formula to calculate monthly installment :   Monthly Payment = Loan Amount ×…

Q: Monthly payments are required on a $35,000 loan at 6.0% compounded monthly. The loan has an…

A: A loan is a financial transaction where one party, typically a lender or financial institution,…

Q: A loan for $36, 000 was obtained to be paid off over 5 years at 5.5% P. A with monthly repayments. a…

A: First, the present value annuity formula can be employed to determine the monthly payment (PMT).…

Q: The following loan is a simple interest amortized loan with monthly payments. $155000, 9 1/2%, 30…

A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…

Q: The following loan is a simple interest amortized loan with monthly payments. $5000, 7 1/2%, 4…

A: Answer: Principal balance = $ 5000 rate = 7.5% time = 4 years

Q: Determine the monthly amortization for a 5-year car loan worth P800,000 at a 5.5% interest rate,…

A: Compound interest is used in case of lump-sum money accumulates in the future if interest is charged…

Q: What would the monthly payment be on a 20-year amortized loan of $273,600 with an interest rate of…

A: The objective of this question is to calculate the monthly payment for a 20-year amortized loan of…

Q: Find the length of the loan in months, if $800 is borrowed with an annual simple interest rate of…

A: Time value of money concept says that a sum of amount invested today will have more value in future…

Q: A student loan with a simple annual interest rate of 2.5% must be paid back in ten years. A student…

A: Given data, Interest rate(r)=2.5% or 0.025 per annum Total interest(I)=P2,000 Time(t)=10 years

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

A: Present value is a financial concept that allows us to determine the current worth of future cash…

Q: Suppose that you have borrowed 5,000,000 from a bank with 5% interest rate for 4 years. Show the…

A: The question is based on the concept to calculate principal and interest on the loan amount in…

Q: $25,000 at a fixed APR of 9​% for 25 years.   a. Calculate the monthly payment. b. Determine the…

A: Loans are paid by the monthly payments and these are fixed payments that carry the payment for…

Q: Find the monthly house payments necessary to amortize each  loan. Then calculate the total payments…

A: Under EMI Payment, Both Principal & Interest amount are paying back to the lender over a…

Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 3 years

A: Compound interest is the interest on a loan or deposit calculated based on both the initial…

Q: The following loan is a simple interest amortized loan with monthly payments. $5000, 9%, 4 years (a)…

A: Given, The loan amount is $5,000 Rate is 9.50% Term of loan is 4 years

Q: rate of 8% compounded monthly that will be re-paid 15 monthly payments starting at the end of the…

A: The more is the compounding of interest than more is effective interest rate and due to which less…

Q: what is the total amount of the monthly payments for a 5-year loan is $10,692. The APR is 7%. How…

A: Using the present value of annuity formula we can calculate the original amount borrowed…

Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.