A car buyer takes out a 25,000 e loan to purchase the car. Suppose that the annual interest rate is 3%. Assume that interest is compounded continuously and that payments are also made continuously. (i) What monthly payment is required to pay off the loan in 10 years? (ii) What is the total interest paid during the term of the mortgage?

Please provide answer to part b of the question. Please answer by using formula, not excel.

Suppose that you borrowed $300,000 to buy a house. a. You pay 3.37% interest rate for a 30-year loan. Create an amortization table with a spreadsheet, which clearly shows the monthly payment and how much you would pay in total interest over the whole loan. monthly payment = $ 1,325.46 total interest paid = $ 177,165.05

You borrow $300,000 to buy a house; if the annual interest rate is 4% and the term of the loan is 20 years, what is the annual payment required to retire the mortgage loan? Complete the loan amortization schedule for the first payment: Payment Interest Portion Principal Portion Ending Balance #1

9) Mortgage Payment You take out a 20-year fixed mortgage. The annual interest rate is ? = 0.10 and the monthly payment is $4,000. a. What is the total amount of this Mortgage? E.g., What is the PV of this mortgage payment stream? b. If you make an additional payment of $4,000 in period t=1 and period t=2, how long will it take to repay the mortgage?

A person borrows an amount for a new house and s/he is going to make monthly payments of 8,000 $ for the next 10 years. The nominal annual interest rate is quoted as 12%. (Assume the first instalment is going to be paid 1 month after s/he borrows.) a. Find the amount borrowed by this person. b. How much does this credit worth at the end of the last payment date? c.lf this person decides on closing his/her loan after paying the 34th instalment, how much should s/he pay? It is given that the closing fee of this credit is 1,453 $.

A homebuyer wishes to take out a mortgage of $200,000 for a 40-year period. What monthly payment is required if the interest rate is 11%? What is the total amount paid during the term of the loan? Carry out all calculations exactly and round the final answers only. Carry out all calculations exactly and round the final answer for the monthly payment to two decimal places and the final answer for the total amount paid to the nearest integer. The required monthly payment is $L The total amount paid during the term of the loan is $

You have just purchased a home and taken out a $550,000 mortgage. The mortgage has a 30-year term with monthly payments and an annual percentage rate (APR) (with semi-annual compounding) of 6.80%. (Note: Be careful not to round any intermediate steps less than six decimal places.) a. How much will you pay in interest, and how much will you pay in principal, during the first year? b. How much will you pay in interest, and how much will you pay in principal, during the twentieth year (i.e., between 19 and 20 years from now)? a. How much will you pay in interest, and how much will you pay in principal, during the first year? During the first year, you will pay an interest payment of $ (Round to the nearest dollar.) During the first year, you will pay a principal payment of $ (Round to the nearest dollar.)

A. what is the Monthly Payment ?  what is the total interest paid ?  B.  time to pay off mortgage if extra $100 is added ?  total interest saved ?    I will rate thakn you!

Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. a. Find the monthly payment.