A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $3,100 per month for the next hree years and then $2,100 per month for two years after that. If the bank is charging customers 10.00 percent APR, how much would be willing to lend the business owner? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value

practice

You Borrowed $150,000 to for a period of 15 years at fixed APR of 6% to buy a house.  How much is your total payments over 15 years for this loan. Use 6 digits after decimal when calculating. But give your final answer with 2 digits after decimal.    choose the closet answer to yours choices 198756.43 227841.17   179459.38

Question 5. Attached is a similar question answered

A friend asks to borrow $53 from you and in return will pay you $56 in one year. If your bank is offering a 6.5% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $53 instead? b. How much money could you borrow today if you pay the bank $56 in one year? c. Should you loan the money to your friend or deposit it in the bank?

You have just purchased a car and taken out a $50,000 loan. The loan has a five-year term with monthly payments and an APR of 6.0%. a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) b. How much will you pay in interest, and how much will you pay in principal, during the fourth year (i.e., between three and four years from now)? (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 month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) During the first month, you will pay $ in principal. (Round to the nearest cent.)

You want to buy a house for $250,000.  The bank requires a down payment of 25%.  What is the amount of the mortgage loan the bank will provide for you?  Round to the nearest $ and use the $ symbol.

If you borrow $30,000 from a bank for 7 years at an interest rate of 8.5%, how much will you owe in balloon payment at the end of the loan's term? This is a balloon loan with all payment due at the end. Round to the nearest dollar. Type your numeric answer and submit

Suppose you want to have $400,000 for retirement in 10 years. Your account earns 9% interest. Feel free to use the Online Basic Financial Calculator a) How much would you need to deposit in the account each month? S b) How much interest will you earn? S

You want to borrow $59,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,100 but no more. Assuming monthly compounding, what is the hughest rate you can afford on a 66-month APR loan? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places