(a)What is the rebate fraction of a 36 month loan paid off after the 12th payment? (b) What is the rebate fraction of a 42 month loan paid off after the 18th payment?
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- (a) What is the rebate fraction of a 36 month loan paid off after the 15th payment? (b) What is the rebate fraction of a 42 month loan paid off after the 18th payment?What is the principal loan balance after 7th monthly amortization payment?Add-on Interest is a method of calculating the interest to be paid on a loan by combining the principal amount borrowed and the total interest due into a single figure, then multiplying that figure by the number of periods for repayment. Is it True or False?
- Which of the following is true of a fully amortized loan? A. The amount of the payment applied to the principal remains the same during the loan period. B. Equal amounts of the payment are appiled to the principal Interest, taxes, and insurance. C. Additional payments applied to the interest during the loan period reduce the number of monthly payments required. D. Additional payments applied to the principal during the loan period reduce the number of monthly payments requiredDetermine A) Determine the monthly interest rate i charged by Coco-me-Loan B) How much is the principal repaid during the 4th month? C) What is the principal loan balance after 7th monthly amortization payment?how are the origination fees borne by the borrower accounted for in relation to the initial measurement of a loan receivable a. Added to initial measurement of the loa receivable b. Deducted from the initial measurement of the loan receivable c. Ignored d. Either added to or deducted from the initial measurement of the loean receivable if the origination fees are at leasr 10% of the proncipal amount of the loan
- Which of the following statement is true of amortization? The computation of loan amortization is wholly based on the computation of simple interest. Amortization solely refers to the total value to be paid by the borrower at the end of maturity. The amortization schedule represents only the interest portion of the loan. The amortization schedule provides principal, interest, and unpaid principal balance for each month. In a typical loan amortization schedule: The amount of money paid towards reducing the loan balance decreases over time. The amount of interest paid each period does not remain constant. The amount of each payment does not remain constant. The amount of interest paid each period increases over time.Interest on a note payable can be calculated by multiplying the amount owed by the interest rate by the fraction of year that represents the time elapsed since borrowing. a. True b. FalseThe loans which are to be repaid within a short period (a year or less) are referred to as: O a. Fixed liabilities O b. Long-term liabilities O c. Contingent liabilities O d. Current Liabilities
- Calculate the missing information for the installment loan that is being paid off early. Sum-of-the- Sum-of-the- Number of Payments Payments Rebate Payments Remaining Digits Payments Digits Number Remaining Made Fraction of Payments 18what will be interest paid at end of term?How much is the monthly interest payment of National Co.?
