Calculate the monthly payment for a 15 year fixed loan at 4.3% per year compounded monthly if you are borrowing $350,000.00. The loan is amortized. Round your answer to the nearest cent.

Q: The unpaid balance of an installment loan is equal to the present value of the remaining payments.…

A: 1) Monthly Payment  = P * r * [(1+ r)n/({1 + r}n -1) Where, P = Principal borrowed = (car price -…

Q: You borrow $275,000; the annual loan payments are $36,687.93 for 30 years. What interest rate are…

A: The present value is the value of an asset or liability as of a specific date, adjusted for the time…

Q: Determine the monthly payment if you take out a loan for $ 330000 with an annual interest rate of…

A: in this we have to calculate present value FACTOR and than find out monthly payment.

Q: Determine the monthly payment if you take out a loan for $ 220000 with an annual interest rate of 9%…

A: Given information: Loan amount is $220,000 Annual interest rate is 9% Number of years is 15 years

Q: Suppose you secure a $250,000 mortgage loan to be paid off over 30 years at an annual interest rate…

A: Calculator steps: I/y = rate = 7.1%/12 = 0.5916667% NPER = Number of periods = 30*12 = 360 PV =…

Q: You look to pay the loan back over 30 years paying 1% per month. You are taking out a mortgage for…

A: Installment is the amount of periodic payments a borrower makes to its lender in order to pay back…

Q: Find the monthly house payments necessary to amortize a 10.8% loan of $172,900 over 15 years.

A: Payment per period can be calculated using PMT function in excel.PMT(rate, nper, pv, [fv],…

Q: You borrow $6,275 from your friend at a nominal interest annual rate of 11.35% compounded weekly.…

A: Loan = 6275 Interest = 11.35℅ Weekly Compounding Number of compounding periods = 52 Annual Repayment…

Q: What would be the monthly payment on a 20-year, $140,000 mortgage loan if the rate was 3.5%, monthly…

A: A written agreement through which a lender gets the right to take the property that is put as a…

Q: What is a monthly payment on a 25 year loan of 70200 if the annual interest rebate is 5%

A: Using Excel PMT function

Q: re buying a R150 000 house for 10% deposit, with the rest financed by a bank loan a 1, compounded…

A: In this we have to calculate the present value FACTOR monthly and get monthly payments.

Q: ou borrow $210,000; the annual loan payments are $18,653.76 for 30 years. What interest rate are you…

A: Yield to maturity can be calculated by following function in excel =RATE (nper, pmt, pv, [fv],…

Q: Consider a 30-year fixed-rate home loan of $410,500 with an interest rate of 3.125%. What is the…

A: The monthly payment can be calculated with the help of present value of annuity function

Q: You borrow $90,000; the annual loan payments are $12,852.25 for 30 years. What interest rate are you…

A: Interest :  It is the total amount payment on loan taken or fund borrowed by any person . it may be…

Q: What is the monthly payment on a 30 year amortized loan with a fixed interest rate of 3.75% per year…

A: An amortized loan is a type of loan that is repaid in regular installments over a specified period…

Q: How much the monthly payment on a $135k home be if you get 3.6% interest over a 15 year loan with a…

A: Given information: Amount of loan : $135,000 Interest rate : 3.6% Time period : 15 years Balloon…

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $519,000 home…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Find the periodic payment R required to amortize a loan of P dollars over t years with interest…

A: The periodic amount will be found using excel’s PMT function. It is the minimum amount that must be…

Q: Use the appropriate formula to find the amortization payment (in S) you would need to make each…

A: Monthly interest rate Loan amount PV = $8,500,Total number of payments Loan term t=5 years.

Q: What would the monthly payment be on a 20-year amortized loan of $273,600 with an interest rate of…

A: The objective of this question is to calculate the monthly payment for a 20-year amortized loan of…

Q: If you lend $3000 to a friend for 15 months at 10% annual simple interest, find the future value of…

A: Future Value of Loan = Amount of Loan + interest on Loan

Q: Determine the monthly payment if you take out a loan for $ 180000 with an annual interest rate of…

A: Loan amount (PV) = $180,000 Interest rate = 8.25% Monthly interest rate (r) = 0.0825/12 = 0.006875…

Q: You borrow $250,000; the annual loan payments are $35,700.70 for 30 years. What interest rate are…

A: The time value of money recognizes the idea that the value of an amount of money today differs from…

Q: Consider a 30-year, 8.5% loan for $130,000 with fixed monthly payments. Construct an amortization…

A: A loan amortization table is the schedule of loan repayments which include bifurcation of principal…

Q: What is the monthly loan payment on a 30 year, $250,000 loan at 5.25%, plus two points

A: Monthly payments refer to the specified amount that a borrower is required to repay a loan each…

Q: Calculate the simple interest due on a 54-day loan of $2600 if the interest rate is 6%. (Round your…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: Taking out a 21 year loan at $59,000 with 6% APR compounded monthly, and with monthly payments,…

A: Therefore, second principal payment is $117.9.

Q: Create an amortization table for a 15-yr fully amortizing, 6% loan for $10 million. Assume annual…

A: Amortization of loans is an important application of the time value of money. It helps to know the…

Q: Consider a loan of 800,000 which is to be amortized by 60 monthly payments. The interest rate is 12%…

A: Monthly payment is the portion of the loan amount along with the interest that is paid every month.…

Q: You borrow $280,000; the annual loan payments are $24,871.68 for 30 years. What interest rate are…

A: Interest rate is the rate of return earned by the lender on the money lend.It can be calculated by…

Q: Consider a 30-year fixed-rate home loan of $565,500 with an interest rate of 4.25%. What is the…

A: Loan amount (P) = $565,500 Interest rate (r) = 4.25% Period (t) = 30  years

Q: You borrow $50, 000 for 5 years. This is an amortized load, meaning that payments are the same each…

A: Loan amount= $50, 000Number of payments= 5 years or 60 months APR=12%

Q: Find the periodic payment R required to amortize a loan of P dollars over t years with interest…

A: The amount of each periodic payment is determined by the loan amount, the interest rate, and the…

Q: Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is…

A: Monthly payment is the portion of the loan amount along with the interest that is paid every month.…

Q: What is the monthly payment to repay a 10 year loan of $200,000 at a nominal rate of 15% per year if…

A: For this solution we need to consider the quarterly interest rate and quarter period and calculate…

Q: Find the monthly payment needed to amortize a typical$210,000 mortage loan amortized over 30 years…

A: Excel Spreadsheet: Excel Workings:

Q: Find the simple interest and the full amount/future value for a loan of S3,600 for 3 years at a rate…

A: A loan is an agreement between two parties where a sum is given in return for it being paid back…

Q: Establish loan amortization schedules for 3- year loan of 20.000 (initial loan) with equal payments…

A: Given Years 3 Loan  20,000.00 RATE 5%

Q: Determine the monthly payment if you take out a loan for $ 200000 with an annual interest rate of 7%…

A: Installments are to be paid monthly Amount Borrowed $200,000 Rate of interest 7%…

Q: Calculate the interest payments each year for a three-year loan of $30000 with 6% annual interest…

A: Present value of annuity formula.PV = A*wherePV = Present value of annuity A = annual paymentr =…