Debby Robinson borrows $10,000 to be repaid over 10 years with equal annual payments at 9%. Repayment of principal in the second year is:

Q: Karen takes an 8-year car loan of $50,000 at 2.14%, compounded monthly. If the payments are done at…

A: Monthly Compounding Loan Amount = 50,000 Time Period of loan = 8 years or 96 months Interest rate =…

Q: The Manny takes a 6-year car loan of $45,200 at 4.25%, compounded monthly. If the payments are done…

A: When a loan is taken like a car loan or a home loan then you make periodic monthly payments.   The…

Q: Bryan received a loan of $42,000 from the bank at 3.25% compounded monthly. If she had to repay $350…

A: Given that: Interest rate r = 3.25% per year = 0.2708% per month Period n =3 year= 36 months…

Q: Mr. Sabalbaro borrows P600, 000 at 12% compounded annually, agreeing to repay the loan in 15 equal…

A: Annuity: It is the payment plan where one can get a regular amount of money after making the lump…

Q: Clark borrows P 600,000 at 15% compounded annually agreeing to repay the loan in 15 equal payments.…

A: Loan amount (PV) = P600,000 Interest rate (r) = 15% Number of payments (n) = 15

Q: Owen borrowed $28,500 at 9% compounded monthly to buy a car. The loan will be repaid with equal…

A: The loan schedule gives information to the lender and borrower about the loan payments due and the…

Q: Marigold browws A from a bank at a norminal rate of B percent compounded monthly to be repaid in 1…

A: A loan is a debt that is borrowed by one person from another and promises to pay a periodic finance…

Q: Prisha received a loan of $25,000 from the bank at 3.50% compounded monthly. If she had to repay…

A: Solution:- When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Q: Alice Reed deposits $16,500 in Rye Bank, which pays 10% interest compounded semiannually.  What will…

A: In this we have to calculate the future value of the present value.

Q: A mother borrowed P200.000 with 2% interest monthly and promised to pay the amount in 30 equal…

A: EMI or Equated monthly installment is an arrangement entered between the lending institution and the…

Q: Abigail received a loan of $41,000 from the bank at 5.75% compounded monthly. If she had to repay…

A: Using Excel

Q: Doreen Short was looking over the repayment schedule for a loan of $37,858 at 7% interest for 5…

A: The remaining balance after making payments for 15 months as the remaining payments will be 45 is…

Q: Shelby's student loan of $25,500 at 3.32% compounded quarterly was amortized over 6 years with…

A: Loans are paid by montly payments and these are fixed payments and these payments carry the payment…

Q: Emily has borrowed $1 000 000 from MQ Bank for 10 years at an interest rate of j2 = 4.1% p.a. She…

A: The objective of this question is to find the value of Emily's annual payment amount, X, for the…

Q: Teffan borrows $4,500 from the bank at 9 percent annually compounded interest to be repaid in three…

A: The loan can be paid in installments. The installment includes both the interest and the principal…

Q: nifer deposited $54,000 at Bank of America at 20% interest compounded quarterly. a) What is the…

A: In this we need to find out the effective annual rate.

Q: Salem has borrowed $1,000,000 from MQ Bank for 10 years at an interest rate of j2=3.91%. She will…

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

Q: Ahlam borrows AED 3,000,000 to be repaid over 6 years at 8 percent. What is the repayment of…

A: An annual mortgage payment is an annual payment that is to be paid for a specific period of time to…

Q: o offer scholarships to children of​ employees, a company invests ​$14,000 at the end of every three…

A: Annuity refers to periodic payments that are provided in exchange for a lump sum payment. Annuities…

Q: John borrowed $10,000 and agreed to pay it off with annual 591 эсол у фли 59+ + +95шлеч years. The

A: Amortization is the process of gradually reducing the value of an asset over time, typically for…

Q: A student loan for $32,000 is paid back in monthly payments over ten years with an interest rate of…

A: Annuity refers to series of annual payment which are paid or received at start or end of specific…

Q: How much of the original principal is still unpaid after he has made the 8th payment?

A: Get the annuity first using P = 600000,i =12%= 0.12 , n = 15 P= A*(1-(1+i)^-n)/i…

Q: At the beginning of each quarter, P36,000 is deposited into savings account that pays 6% compounded…

A: Quarterly deposits (D) = P36,000 Interest rate = 6% Quarterly interest rate (r) =…

Q: To offer scholarships to children of​ employees, a company invests ​$9000 at the end of every three…

A: a. At the end of ten years, the company will have approximately $574,075.59 in scholarship funds. b.…

Q: A 10,000 loan is paid off over 10 years; interest is 6 percent effective. The borrower uses a…

A: Sinking funds are funds which are set aside for the repayment of a particular debt or loan.

Q: Ms X borrows 5000 at 5% annual effective interest, with payments at end of each year. The lender…

A: The loan instalment includes both principal repayment and interest amount.

Q: Nicole's student loan of $26,000 at 4.62% compounded quarterly was amortized over 5 years with…

A: In this case, it is required to determine the principal balance of the loan at the end of 3 years.…

Q: Scott's student loan of $22,500 at 3.42% compounded quarterly was amortized over 3 years with…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Zachary's student loan of $28,000 at 4.42% compounded quarterly was amortized over 3 years with…

A: Data given: Loan=$28000 r=4.42% (compounded quarterly) N=3 years   Working Note #1 Calculation of…

Q: A client is given a loan of principal amount of R50,000 which accrues interest of 10% per annum,…

A: A loan is a financial arrangement in which the borrower get a lump sum amount and paid it in future…

Q: payments. If after she has made 15th payment, how much is still unpaid of the oriainal principal?

A: Equally annual installments is the amount of installment which is equal means till the end of the…

Q: ow it's time for you to practice what you've learned. uppose Teresa receives a $37,000.00 loan to be…

A: Loan amount = $37,000.00Interest rate = 8%Number of years = 3 years

Q: Sara deposits $13,900 into an account. For the first two years, money in the account earns 5.5%…

A: Deposit=$13900Interest rate 2 years=5.5%Interest rate next 2 years=5.8%

Q: rrowed $1 000 000 from MQ Bank for 10 years at an interest rate of j2=3.11% p.a. She will make 10…

A: Loan Amount$ 1000,000Interest rate3.11%Annual Installment10Loans are paid by equal annual payments…

Q: Hassan borrows  AED 4,000,000 to be repaid over 15 years at 7 percent. What is the repayment of…

A: There are several functions in Microsoft Excel that can be used to perform time value of money…

Q: Prepare anamortization schedule for a $50,000 loan that pays10% interest annually for five…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: A $35,000 bank loan is to be repaid in equal yearly payment over 15 years at an effective annual…

A: The amortization refers to the systematic, equal and regular repayment of loan amount for the period…

Q: after

A: So per quarter k = 10/4= 2.5%,  Loan Maturity = 10 years= 10* 4= 40 times = n We must know the…

Q: A student borrowed P50,000 she he was freshmen in college to finance his education expenses. He is…

A: Borrowing Amount = 50,000 N = 5 equal installments T = deferrment period = 1 year Interest rate =…

Q: Assume that you borrow 50,000 JPY under the system of 5% yearly compound interest. (1) If you repay…

A: Equal principal payments, also known as amortized payments, is a method of repaying a loan in which…

Q: Cameron's student loan of $28,000 at 3.72% compounded quarterly was amortized over 5 years with…

A: We can find the remaining balance on a loan either by creating an amortization table or using a…