Annual % rate: 5.9% Amt of Mort: $180,000 Unpaid Balance: Monthly Payent: $1067.65 Number of Monthly Payments: 360 Determine the unpaid balance after ten years. Report result to the nearest cent. Term: Years 30, Months, 0 ***

Q: Interest Rate Frequency of Conversion Singie Payment D83.00 due today and 144.00 due in 5 years 8%…

A: The future value of payment includes the interest also while present value includes the payment…

Q: A company received a loan of $30,000 from a bank that was charging interest at a rate of 4.80%…

A: A loan is an agreement between a lender and a borrower in which the lender provides a sum of money…

Q: On a $600,000 home mortgage loan with a15-year term at 10.5% APR compounded monthly, compute the…

A: The loan amount will be paid on monthly basis which consists of principal and interest. The monthly…

Q: Multiple Choice MC.23-39 Interest compounded monthly on a $10,000 principal amount at 18% for two…

A: Solution: Interest compounded monthly on a $10,000 principal amount at 18% for two years is Given :…

Q: A debt of $10,000 with interest at 8% compounded quarterly is to be repaid by equal payments at the…

A: The formula we will be using is P = PMT*((1-(1/(1+r)^n))/r) Where, P is the present value of the…

Q: For the following annuity due, determine the nominal annual rate of interest. Future Value Present…

A: We need to use RATE function in Excel to calculate interest on annuity. The equation is:…

Q: principal borrowed of $89,000, 12 annual payments a year, monthly payments are $1,100, 8.75%…

A: The time value of money refers to the concept in finance that evaluates the worth of money by…

Q: $2,000 is invested for 11 years with an APR of 3.68% and monthly compounding. The balance in the…

A: The future value is calculated using the formula,

Q: b d Payment and Time in years frequency (PMT) $252.92 at the beginning of the quarter $3,562.47 per…

A: Present value is a financial concept used to determine the current worth of future cash flows or…

Q: A loan of $384,000 at 5.02% compounded quarterly was to be settled with month end payments of $8,…

A:

Q: A debt of $13,800 with interest at 4% compounded semi-annually is repaid by payments of $1,950 made…

A: An amortisation plan is a full table of annual loan payments that shows the amount of principal and…

Q: 1 What minimum amount of money earning 7.60% compounded semiannually will sustain withdrawals of $2,…

A: The objective of the question is to find out the initial amount of money that needs to be invested…

Q: Calculate the effective rate (APY) of interest for 1 year.

A: Time value of money(TVM) means that the amount of money received in the present period will have…

Q: Jompound amount for the deposit. Round to the nearest cent. 5) $18,000 at 7% compounded semiannually…

A: Future value is what a sum of money invested today will become over time, at a rate of interest.…

Q: investment, what nominal rate of interest, compounded semi-annually must you earn?

A: Information Provided: Principal = $26,000 Years = 13 Semiannual payments to be received = $1700

Q: find the interest and the amount for $800 for 8 months at 4%

A: Note: It is not mentioned if the interests are compounded or simple interest, hence both the methods…

Q: With a $350,000 home mortgage loan with a 20-year term at 9% APR compounded semiannually compute the…

A: Mortgage loans are paid by equal monthly installments that carry the payment for interest and…

Q: periodic payment $260 made at end, payment period 1month,, period of deferment 7years,terms…

A: Deferred annuity means the payment to be received either in the form of installments or lump-sum…

Q: If a $27,000 loan is repaid by end of month payments of $640 and interest is at 9% compounded…

A: Loan amount = $ 27000 Monthly payment = $ 640 Interest rate = 9% Monthly interest rate = 9%/12 =…

Q: On Jan. 1, deposit $5000 that pays 8% nominal annual interest, compounded quarterly. Withdraw in 5…

A: Amount to be withdrawn = $5,000 x [A/P, 8%, 5]                                          = $5,000 x…

Q: Find the amount in an account after 16 monthly payments of R122 have been made if R252 was withdrawn…

A: The concept of money's time value indicates that any sum is worth more currently than the same…

Q: An employee has $64 withheld from each monthly paycheck that is deposited in an account. The account…

A: Total accumulation is computed as = Monthlyl deposit*FVA of 1 at i for n periods

Q: Contributions of $146.30 are made at the beginning of every three months into an RRSP for 17 years.…

A: Future worth is the amount that an investor expects from the cash flows in each period. Future worth…

Q: periodic deposit at the end of each month if financial goal is 1,000,000 at 6 25% rate compounded…

A: Future value =1,000,000 Rate =6.25% Monthly rate = 0.0625/12 =0.52% Time =40 years So, monthly…

Q: Payments of $350 are made at the beginning of each month to an RRSP that earns 8.4% compounded…

A: To determine the RIF quartely payment, the lum sump value of the amount contributed throughout the…

Q: For 20-year, $100,000 loan at 4.5% APR (same as above) what portion of the monthly payment in Month…

A: A loan is a borrowed amount by one person from another person. The borrower expects to pay a…

Q: A company needs to record six months of accrued interest on a four-year, 12%, $12,000 promissory…

A: Interest expense accrued = Promissory note payable x rate of interest x months/12

Q: Discount 18,600 due at the end of 28 years and 4 months at 9% compounded monthly

A: The discounted value of a future payment can be calculated with the help of present value

Q: Determine m, n, and i for money earning 7.9% compounded quarterly for 5 years and 3 months.

A: Compounding period = 4Tenure = 5 yrs and 3 monthsInterest rate = 7.9%

Q: Find the sum of money that accumulates to ​$5111.39 at 7.7% compounded quarterly in two years, four…

A: given, FV = $5111.39 R= 7.7% M =4 ( quarterly compounding) N= 2 YEARS 4 MONTHS = 2+412years =2.33…

Q: periodic payment $260 made at end, payment period 1month, period of deferment 7years,terms 3years,…

A: Ordinary Annuity = P x [1-(1+r)-n][ (1+r)t-1x r ]

Q: Principal: $16,100 Interest rate: 28% Compounded quarterly Calculate the effective rate (APY) of…

A: APY = [(1+ r/n)^n] - 1 where, r = 28% n =4   as interest is compounded quarterly

Q: Scott's student loan of $22,500 at 3.42% compounded quarterly was amortized over 3 years with…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Contractual loan amount 60,000 origination fees of 3% Time period for loan is 5 years and and…

A: Given:   Contractual loan amount 60,000 and origination fees of 3% Time period for loan is 5 years…

Q: FV of $100 paid each 3 months for 5 years at a nominal rate of 15% compounded quarterly. Do not…

A: Nominal rate (15%/4) 3.75% Period (NPER) (4*5) 20 Present Value 0 PMT 100

Q: 13) Periodic Deposit: $7500 at the end of every six months Rate: 5% compounded semianually Time: 3…

A: N = 6 semi annual deposits (3 years)  Periodic Deposit (PMT) = 7500 Semi Annual Deposits Interest…

Q: A debt of $6434is to be settled by two equal payments due in 1 month and 7 months respectively.…

A: Let equal payments be X: X*PVF(6%/12,1) + X*PVF(6%/12,7) = Total debt Hence, the Equal payments can…

Q: Colton received a loan of $44,700 at 8.1% compounded semi-annually and settled the loan by making…

A: A loan refers to a contract where an amount is borrowed on the promise of future repayment along…

Q: Aaron's student loan of $24,500 at 3.32% compounded quarterly was amortized over 5 years with…

A: Loan Amount is $24,500 Interest rate is 3.32% compounded quarterly Time period of loan is 5 years…

Q: 5 % rate for 15 years is 7.90794

A: Amortization is a form of finance used over a certain period of time to gradually reduce the book…

Q: Determine the size of the periodic rent. Future Value: $2457 Payment Interval: 6 months Term: 10…

A: Here,Future Value (FV) is $2457Time Period (n) is 10 yearsInterest Rate (r) is 8%Compounded Period…

Q: Principal: $17,000 Interest rate: 8% Compounded Quarterly Calculate the effective rate (APY) of…

A: The effective rate can be calculated by using this equation Effective rate =1+imm -1 Where i=Nominal…