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A: Given: Loan amount = $80,000 Interest rate = 14% Years = 25
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A: Future Value is the value of current investments at a certain future date at the assumed…
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A: Basic Details: Investment = $8400 Time = 8 Years and 10 Months Interest = 5% semi Annually
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A: Amount due after 8 Years (FV) = $ 35000 Interest rate (r) = 13% Period (n) = 8 Years
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A: In this question we need to compute the Clara's quarterly payments from following details: Loan…
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A: The question gives the following information:
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A: Future value = Present value (1 + rate)^periods Future value = 20,000 (1 + 0.09)^40 Future value =…
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A: Information Provided: Amount = $750,000 Term = 4 years Interest rate = 15% compounded monthly
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A: A certificate of deposit (CD) is a savings account that holds a fixed amount of money for a fixed…
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A: Given: Years = 30 Interest rate = 7.4% Cost of house = $250,000 Down payment = 15%
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A: Given: Present value =PV = $15,000 Monthly payment = PMT = $283.07 Years = 5 Periods = NPER = 5*12 =…
Q: Ali deposits BD 2,500 in a savings account that pays interest at the rate of 5.5% per year,…
A: Given information : Deposits 2500 Interest rate 5.50% Time period (years) 14 The given…
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A: Interest is an extra amount which borrower has to pay on the deposited amount for the period. It is…
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Q: blake purchased an annuity that had an interest rate of 2.50% compounded semi- annually. it provided…
A: Solution- 2.50% interest rate semianually=2.52=1.25%=1.25100=1+r6-1=1+r=1.002072Monthly…
Q: Margo borrows $1400, agreeing to pay it back with 7% annual interest after 217 days. How much…
A: Interest is a value which a person has to pay on borrowed amount for the period. It is the cost for…
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- Jessica purchases a house for $323,000 and takes a mortgage for the full amount. Her mortgage charges 6.75% per year and interest is compounded monthly. She will repay the loan over 25 years with equal monthly payments. a) What is her monthly payment amount? b) How much of the 8th payment would be applied toward interest? c) How much would be the payoff amount if the mortgage is to be paid at the end of year 2 (i.e., before the 24th payment is made)?Beatrice takes out a 7 year loan of $5000. The interest rate is 4.5%. What are Beatrice's monthly payments? Suppose after 5 years Beatrice decides to pay off the remaining balance of the loan. What is the payoff amount?Jane wants to borrow $100,000 from the bank for up to 3 years at an APR of 8.5% with interest compounded monthly.If Jane borrows$100,000 for 1 year, how much interest will she have paid and what is the bank’s APY?
- Margo borrows $400, agreeing to pay it back with 8% annual interest after 17 months. How much interest will she pay?Jessica purchases a house for $350,000 and takes a mortgage for the full amount. Her mortgage charges 5% per year and interest is compounded monthly. She will repay the loan over 25 years with equal monthly payments. a) What is her monthly payment amount? b) How much of the 8th payment would be applied toward interest? c) How much of the 8th payment would be applied toward principal?Joan Tanaka borrows $80,000 at 14 percent interest toward the purchase of a vacation home.Her mortgage is for 25 years. a. How much will her annual payments be? (home payments are usually on a monthly basis, but we shall do our analysis on an annual basis for ease of computation.) b. How much interest will she pay over the life of the loan?
- Megan takes out a car loan for $13,000. She intends to make monthly payments for 5 years to pay off her loan. If the bank charges her an annual interest rate of 4.2% computed monthly on the loan balance, how much will her monthly payments be?7. Joan Tanaka borrows $80,000 at 14 percent interest toward the purchase of a vacation home. Her mortgage is for 25 years. a. How much will her annual payments be? (home payments are usually on a monthly basis, but we shall do our analysis on an annual basis for ease of computation.) b. How much interest will she pay over the life of the loan?a) Clara borrows $41,000 today at 2.9% per year compounded quarterly, to start her own buisness. she plans to repay her loan by making equal quarterly payments over 8 years. What are Clara's quarterly payments? b) how much of what clara will pay back is in interest?
- Sara borrows 35,000 at 12% for 9 months on a discounted loan. A. How much is the interest on the loan? B. How much will she receive?Maria wants to attend Clarke University. She will need $90,000 eight years from today. Assume Maria's bank pays 6% interest compounded semiannually. What must Maria deposit today to have $90,000 in eight years? verify your answer.Maria takes out a 30-year mortgage for $154,886 at an annual interest rate of 5.7%. How much does she still owe when there is 1 year left on the loan? Round your answer to the nearest dollar.