Dan borrowed $1496.00 today and is to repay the loan in two equal payments. The first payment is in three months, and the second payment is in eleven months. If interest is 7% per annum on the loan, what is the size of the equa payments? Use today as the focal date. The size of the equal payments is $ c
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- D K Dan borrowed $906.00 today and is to repay the loan in two equal payments. The first payment is in three months, and the second payment is in nine months. If interest is 5% per annum on the loan, what is the size of the equal payments? Use today as the focal date. The size of the equal payments is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Dan borrowed $994.00 today and is to repay the loan in two equal payments. The first payment is in five months, and the second payment is in ten months. If interest is 7% per annum on the loan, what is the size of the equal payments? Use today as the focal date. The size of the equal payments is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)If you borrow $2,900 and agree to repay the loan in six equal annual payments at an interest rate of 11%, what will your payment be? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. What will your payment be if you make the first payment on the loan immediately instead of at the end of the first year? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
- A loan of $1500 is to be repaid by annual payments of $250 to commence at the end of the fifth year and to continue thereafter for as long as necessary. Find the amount of the final payment, if the final payment is to be larger than the regular payments. Assume i = 5%. Round your answer to two decimal places.A $10,100 loan is to be repaid in three equal payments occurring 60, 180, and 300 days, respectively, after the date of the loan. Calculate the size of these payments if the interest rate on the loan is 6%. Use the loan date as the focal date. (Do not round intermediate calculations and round your final answer to 2 decimal places.) PaymentYou have taken a loan of $92,000.00 for 35 years at a 4.9% annual interest rate, with interest compounded quarterly. Fill in the amortization table below to show how the payments will be applied to interest and principal: (Round all answers to 2 decimal places. Please note the order of the headings in the table - make sure you put the answers in the appropriate columns as layed out below.) Payment number Payment amount Principal Amount Interest 0) 1) 2) 3) $ LA tA +A LA $ Balance $92,000.00 tA LA
- Jane was due to make loan payments of $1933 eight months ago, S3002 three month ago, and $426 in four months. Instead, she is to make a single payment today. If money is worth 8.1% and the agreed focal date is today, what is the size of the replacement payment? The replacement payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Prepare an amortization schedule for a three-year loan of $93,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)Alpha Ltd. has just borrowed to finance one of its projects. The loan contract specifies that the company will make a quarterly payment of $5,235 for five years. The lender quoted Alpha a rate of 5.60% p.a. compounding monthly. What is the amount Alpha has borrowed? Show your workings and round your final answers to two decimal places.
- Prepare an amortization schedule for a five-year loan of $60,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Principal Payment Ending Balance Total Beginning Balance Interest Year Payment Payment 1 3. 4 How much total interest is paid over the life of the loan? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total interest paid < Prev 10 of 10 NextA loan is repaid with payments of $2560 made at the end of each month for 13 years. If interest on the loan is 14.5%, compounded semi-annually, what is the initial value of the loan? Enter to the nearest cent (two decimals). Do not use $ signs or commas. Answer: NEXT PAGEFind the present value (in dollars) of an annuity that pays $9,000 at the end of each 6-month period for 5 years if the interest rate is 4% compounded semiannually. (Round your answer to two decimal places.)
