Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $80,000 loan. Option 1: a 30-year loan at an APR of 8.15%. Option 2: a 15-year loan at an APR of 7.75%. Question content area bottom Part 1 Find the monthly payment for each option. The monthly payment for option 1 is $ enter your response here. The monthly payment for option 2 is $ enter your response here.

The bank offers you the following three options to pay back the loan from the previous question: I: To pay the interest of 6.00% annually II: To pay an interest of 0.49% monthly III: To pay an interest of 1.46% quarterly Which of these three options would be most beneficial for you? O All three options would be equally beneficial Option II ○ Option III Option I O Option II and Option III would be equally beneficial

Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) Monthly Payment Amount Number of Table Finance APR Financed Payments Factor Charge $800 18 16% $ 15.91 $ 50.29 $ 105.22

TASK: 2 are mu pare Apply your understanding about the present value and future value of annuities and prepare TWO Loan EMI (EMI = Equated Monthly Installments) payment schedules based on the following instructions: 1. Loan Summary and schedule of Short term loan (20 marks) 2. Loan Summary and schedule of Long term loan (20 marks) Guidelines: 1. Suggested Short term Loan period is 1 year to 3 years 2. Suggested Long term Loan period is 7 years and above 3. Each loan summary should contains following points: a. What type of loan is chosen? b. Why it is chosen? C. Interest rate, number of years (loan period) and loan amount to be assumed and clearly stated d. Starting date and ending date of the loan period is to be mentioned 4. The payment schedule should cover the following: a. Serial No. b. Date (period) c. EMI amount (EMI = Equated Monthly Installments) d. Principal component of the EMI e. Interest component of the EMI f. Interest paid to date g. Principal paid- to date h. Principal…

If you could solve Option 2 with formulas that would be great! Option 2: Borrow $5,000,000 from a bank quoted an annual interest rate of 3.8%, do monthly payments during the payback period of 6 years.  Find periodic and annual payments, also cumulative interest and cumulative principal.

Intro You take out a 360-month fixed-rate mortgage for $100,000 with a monthly interest rate of 0.4%. Part 1 What is the monthly payment? 0+ decimals Submit

You want to purchase an automobile for $22,800. The dealer offers you two options. Option 1 is 0% financing for 48 months. Option 2 offers 2.9% financing for 72 months. A) Compute the monthly payments for each option. Show work to justify your answer. N 1% PV PMT FV P/Y C/Y Option 1: Monthly Payment is: Option 2: Monthly Payment is: N 1% PV PMT FV P/Y C/Y B) Compute the total cost for each option. Show work to justify your answer.