Determine the monthly payment if you take out a loan for $ 220000 with an annual interest rate of 9% and the term of the loan is 15 years.

Q: You receive a 10-year subsidized student loan of $22,000 at an annual interest rate of 4.3%. What…

A: Using excel PMT function to calculate monthly payment.

Q: Find the exact interest on a loan of ​$6000 at 8​% annually for  50 days.

A: Principal loan amount = 6000Number of days = 50Interest rate = 8%/100 = 0.080000 in decimalTotal…

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: Suppose you wish to purchase heavy equipment machinery and a commercial bank will lend you $65,000…

A: Amount lent = $65,000 Loan period = 5 years* 12 = 60 Nominal interest rate = 8%/12 = 0.6667%

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 go to buy a boat and the advertised loan interest rate is 7.72% compounded monthly for 5 years.…

A: Advertised interest rate = 7.72% monthly compounded

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: machine selling for $10000 may be purchase by paying a $1000 deposit and the balance in equal…

A: in this problem we have to calculate present value FACTOR and from that we can get monthly payments.

Q: monthly. Then compute for the

A: Compound interest is used in case of lump-sum money accumulates in the future if interest is charged…

Q: What would be the total interest paid

A: Interest is charged on the amount lent by the lender to the borrower. In short, any excess payment…

Q: You receive a 10-year subsidized student loan of $29,000 at an annual interest rate of 4.8%. What…

A: Loan payments are given by, L = E(1-(1+r)^-n)/r Where, E = payment = ?? r = interest rate = 4.8%/12…

Q: What is the monthly payment amount on a $100,000 home loan if the rate is 6.0% APR, and the loan is…

A: Present Value of loan (PV) = $100,000Annual Rate = 6%Monthly rate (r) = 6% / 12 = 0.5% or…

Q: If you need a loan for $16000 and make a down payment of 5%, then finance the balance with a 3-year…

A: A loan indicates the sum borrowed to meet the specific personal or business needs. The loan is…

Q: You have a student loan of 25000 with a fixed Apr of 6 % for 15 years  what is the monthly payment…

A: Using excel PMT function

Q: A worker is considering a loan of $97000 over 20 years at an interest rate of 7.9% p.a. with monthly…

A: The difficulty of distributing limited resources among numerous initiatives or investments is one…

Q: calculate the mortgage payment for a home mortgage price costing $ 280,000. Calculate the payment…

A: A mortgage is a kind of loan that a lender or financial institution offers to people or companies to…

Q: You plan to obtain a $10000 loan from a furniture dealer at 10% annual interest rate that you will…

A: Annual loan payment is the repayment of loan annually for the period of loan, that includes interest…

Q: Determine the monthly amortization for a 5-year car loan worth P800,000 at a 5.5% interest rate,…

A: Compound interest is used in case of lump-sum money accumulates in the future if interest is charged…

Q: Suppose that your unsubsidized Stafford loans plus accumulated interest total $35000 at the time you…

A: Loan amount is $35000 Interest rate is 9%  Time period is 10 years To Find: Fixed Monthly repayment

Q: You take out a 5-year car loan for $16000 at a 6% interest rate. Calculate the fixed monthly payment…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

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: How much interest would you be paying in the 75th month?

A: Amortization is the process of repaying the loan over time. In an amortizing loan, a portion of each…

Q: consider a student loan of 17,500 at a fixed apr of 12% for 25 years. what is the monthly payment

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

Q: ll take n years, t months and u days to pay off a $1000 loan if $100 is paid at the end of every…

A: Loans are paid by equal periodic payments that carry the payment for interest and loan.

Q: You can afford to pay $15,000 at the end of each of the next 30 years to repay a home loan. If the…

A: Present value of annuity is the current worth of future annual cash flows over a period of time at a…

Q: What is the maximum APR you can accept if you can afford to make monthly payments of $120 on a…

A: The yearly rate that borrower pays on loan and investors receives on deposits is the annual…

Q: You receive a 10-year subsidized student loan of $19,000 at an annual interest rate of 6.8%. What…

A: Using excel PMT function to calculate the monthly payment

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: What is the total amount you will have to repay for your $19,000 student loan if the interest rate…

A: 1. Calculating the Monthly Interest RateThe annual interest rate is 5%. To find the monthly interest…

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: 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: 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: If you take out an amortized loan of $33,000 with a 14 year term and 7.4% interest rate, what are…

A: Using excel pmt function

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 =…

Q: Suppose you wish to borrow $60,000 at an annually compounded interest rate of 16% for a period of 14…

A: Using the PMT function in excel