Assume that somebody has to pay £2000 in three years’ time and £3000 in seven years’ time. They want to pay off both debts by a single payment in six years’ time. Assuming an interest rate of 8% p.a., how much do they have to pay?

You want to buy a $130,000 home. You plan to pay 5% as a down payment, and take out a 30 4.65% interest for the rest. The bank will charge 1.5 points on the amount financed. year loan at a) What is the amount of the down payment? b) How much is the loan amount going be? c) What will be the amount charged for 1.5 points? 1 point is 1 % of the mortgage amount d) Find the amount of the monthly payment. (Do not add the cost of the points to the loan amount) Hint: click here

You are paid £1,000 annually for 10 years, with the first payment due in one year and the last payment due in 10 years.  What is the present value of all these payments using an interest rate of 4%?

Suppose you take out a $37,000 4-year balloon loan from a bank at an interest rate of 9.8%. What will be the balloon payment at the end of the loan term? Round to the nearest dollar.

A borrower takes out a 30-year loan for a house worth $250,000. If the annual interest rate is 6%.   if the borrower chooses to pay $40,000 at the end of year 12, what will the new payments be assuming the loan maturity will not be reduced?

You want to buy a $130,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan at 6.25% interest for the rest. The bank will charge 3 points on the amount financed.a) What is the amount of the down payment?b) How much is the loan amount going to be?c) What will be the amount charged for 3 points?d) Find the amount of the monthly payment.

Suppose the interest rate is 4.4%. a. Having $550 today is equivalent to having what amount in one year? b. Having $550 in one year is equivalent to having what amount today? c. Which would you prefer, $550 today or $550 in one year? Does your answer depend on when you need the money? Why or why not? a. Having $550 today is equivalent to having what amount in one year? It is equivalent to $. (Round to the nearest cent.)

If you invest $1,000 in an account that pays an annual interest rate of 6.4%, compounded monthly, how long will it take for your money to double?

Suppose your gross monthly income is $5,300 and your current monthly payments are $575. If the bank will allow you to pay up to 36% of gross monthly income (less current monthly payments) for a monthly house payment, what is the maximum loan you can obtain if the rate for a 30-year mortgage is 4.65%? (Round your answer to the nearest cent.)

You took out a loan to buy a new car. The monthly interest rate on the loan is 0.6%. You have to pay $240 every month for 60 months. a. What is the present value of the cash flows if it's an ordinary annuity? b.