A loan is being repaid by quarterly installments of $1,500 at the end of each quarter at a nominal interest rate of 10% convertible quarterly. If the loan balance at the end of the first year (right after the fourth payment) is $12,000, compute the original loan balance.

A loan company advertises that $100 borrowed for one year may be repaid by 12 monthly installments of $9.46. Assuming the difference between the amount repaid and the amount borrowed is interest only, what is the effective annual interest rate being charged?

A loan of $36,999.85 is to be repaid by payments at the end of each quarter for eight years. Each payment is 5% higher than its predecessor. The loan is made at a nominal rate of discount of 4% payable quarterly. Find the balance just after the 20th payment, the amount of interest in the twentieth payment, and the amount of principal in the twentieth payment. (Round your answers to the nearest cent.) balance after 20th payment amount of interest in 20th payment amount of principal in 20th payment

A borrower takes out a 15-year loan for $65000 with equal end-of-month payments. The annual nominal interest rate of the loan is 12% convertible monthly. Immediately after the 60th payment is made, the remaining loan balance is reamortized. The maturity date of the loan remains unchanged, but the annual nominal interest rate of the loan is changed to 6% convertible monthly. Calculate the new endof-month payment.

Olfert Inc. is repaying a loan of $52500.00 by making payments of $4700.00 at the end of every six months. If interest is 7.5% compounded semi-annually, the outstanding balance after the first, second, third payment will be respectively: O 49268.75, 47565.08 and 43995.14 O 49768.75, 45015.08 and 42105.48 49768.75, 46935.08 and 43995.14 O48425.12, 45238.21 and 42355.23 Mrs. Robinson made

A loan is amortized over five years with monthly payments at a nominal interest rate of 12% compounded monthly. The first payment is 1,000 and is to be paid one month from the date of the loan. Each succeeding monthly payment will be 1% lower than the prior payment. Calculate the outstanding loan balance immediately after the 20th payment is made.

a loan is amortized by level payments made at the end of each quarter for 25 years.Tge monthly rate is 1%.The principal in the 29th payment is 5580.Find the amount of interest in the 60th payment

A loan is being repaid with 20 payments of 1500 at the end of each year. Interest is calculated at an annual effective rate of 5% for the first 10 years and 4% thereafter. Find the OLB immediately after five payments have been made by both the prospective and the retrospective method.

SportZ has negotiated a loan of $25 000 with interest at 7.6% per annum, to be paid as month-end payments of $2200.00 over the next year. Construct a loan amortization schedule to answer the following questions. i. How much interest is paid over the first two months? ii. How much of the principal is paid by the end of the first two months? iti. How much interest is paid over the term of the loan? iv. What is the amount of the final payment?]

Prepare an amortization schedule for a three-year loan of $96,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Year 1: Beginning Balance, Total Payment, Interest Payment, Principal Payment, Ending balance Year 2: Beginning Balance, Total Payment, Interest Payment, Principal Payment, Ending balance Year 3: Beginning Balance, Total Payment, Interest Payment, Principal Payment, Ending balance Total Interest for all 3 Years.