A company borrows $100,000 with interest at J12 = 9%. The loan is to be amortized by monthly payments of $1550 for as long as necessary. A final smaller payment will be calculated so the loan will be exactly repaid. The outstanding balance immediately after the 88th payment is $796.44. What is the value of the 89th and final payment? O A. $790.51 OB. $796.44 OC. $802.41 O D. $808.43
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- A loan of $17,500.00 is repaid by making annual payments of $5,781.10 at the end of each year. If interest is 6.13% compounded annually. How many payments are required to amortize the loan? Round UP the answer to the next higher whole number (e.g. 5.12 must be entered as 6). Number of payments = whole number) PV=$ 2) (enter a 3) 4) Complete the amortization table below. Enter only POSITIVE VALUES IN THE AMORTIZATION TABLE (rounded to two decimal places). Total Payment number Payment amount Interest Paid Principal Repaid Balance 0) $17,500.00 1) FA tA I/Y= $ PMT=$ $ GA FA A SA FA GA P/Y=C/Y= GA FV=$ A GA GA EA $A loan was to be amortized by a 5 end-of-year payments forming an ascending arithmetic progression. The initial payment was to be P10,000 and the difference between successive payment was to be P1,000. If the loan is to be paid in a single payment after 3 years what should the single payment be? The interest of the loan is 10% pa. Show your cash flow diagram. O P 69,150 O P 64,405 O P 49,756 O P59,588The SKC Corporation plans to borrow $1,000 for a 90-day penod. At matunity the firm will repay the $1.000 principal amount plus $45 interest What is the effective annual rate of interest (A/F) for the loan? (Select the best choice below) OA 18.00% OB. 450% OC. 1925 % OD. 4.58%
- A loan is to be repaid by $1500 in one year and $2250 in four years. The borrower has asked to repay $1000 in 1.5 years and a final payment in three years. If money can earn 6% compounded quarterly, what is the size of the final payment? Select one: O a. 2735.18 O b. 2705.50 O C. 2725.50 O d. 2755.85 O e. 2715.501. Suppose you borrow $16,000. The interest rate is 9%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0".A $400 loan is to be amortized with eight quartely payments over 2 years. If the interest is at J4 = 10% a. Find the quartely payment b. Construct an amortization schedule for this loan payment.
- H3. The interest rate on a $6400 loan is 7% compounded semi-annually, and the loan is to be repaid by monthly payments of $155. Construct a partial amortization schedule showing the last 2 payments. Determine the total amount paid to settle the loan. Show work, not just the answer. Determine the total principal repaid. Determine the total amount of interest paid. Show work, not just the answer.K Consider a loan of $88,000 at 4% compounded annually, with 12 annual payments. Find the following. (a) the payment necessary to amortize the loan (b) the total payments and the total amount of interest paid based on the calculated annual payments (c) the total payments and total amount of interest paid based upon an amortization table. (a) The annual payment needed to amortize this loan is $. (Round to the nearest cent as needed.) (b) The total amount of the payments is $. (Round to the nearest cent as needed.) The total amount of interest paid is $. (Round to the nearest cent as needed.) (c) The total payment for this loan from the amortization table is $. (Round to the nearest cent as needed.) The total interest from the amortization table is $. (Round to the nearest cent as needed.)A $17000 loan is to repaid by monthly payments of $390, the first payment is due in one year's time. If interest is charged at a rate of jyz = 10%. determine the number of regular monthly payments and the size of the final larger payment. a)Number of payments: bjFinal larger payment: $
- I need help with d. Basic ARM is made for $250,000 at an initial interest rate of 6 percent for 30 years with annual reset date. The borrower believes that the interest rate at the beginning of the year 2 will increase to 7 percent. a. Assuming that a fully amortizing loan is made, what will monthly payments be during year 1? PMT = $1498.88 b. Base on (a), what will the loan balance be at the end of year 1? FV = $246,929.97 c. Given that the interest rate is expected to be 7 percent at the beginning of year 2, what will monthly payments be during year 2? PMT = $1659.69 d. What will be the loan balance at the end of year 2?A bank has agreed to lend you $127,800 for a home loan. The loan will be fully amortized over 57 years at 12.98%, with .13 points. The loan payments will be monthly. The closing cost is estimated to be $2,168. Calculate the prepaid interest. O $169.18 O $167.72 O $196.60 O $177.71A loan of £4,000 is to be repaid over 5 years by a level annuity payable monthly in arrears. The amount of the monthly payment is calculated on the basis of an interest rate of 1% per month effective. Task : Find the amount of the loan that has been repaid after 30 months. Answer: The loan outstanding after 30 months is a)L(1+i)^t-x∑_(s=1)^t(1-i)^s b)L(1+i)^t-x∑_(s=2)^t(1+i)^s c)x·a_30] d)a_30] Hence a)£1744.12 b)£1644.12 c)£1603.69 d)£1703.69 has been repaid at that point in time. They are multiple-choice questions
