Red Lions Corporation takes out a $8.6 million short-term amortizing loan for nine months at 11.4% per annum. It makes monthly payments to pay off the loan. However, after completing 5 months of repayments, it decides to payoff early the remaining part of the loan amount. Q1. How much are the monthly repayment (in millions of dollars)? millions. (Give answer to 4 decimal places) $ Q2. How much does it repay to payoff the remaining part of the loan (in millions of dollars)? $ millions. (Give answer to 4 decimal places)

9. A man borrows Php10,000 from a loan firm. The rate of simple interest is 15%, but the interest is to be deducted from the loan at the time the money is borrowed. At the end of one year he has to pay back Php10,000. What is the actual rate of interest?

3. 4. Suppose you recently bought a house for R1 650 000 and secured a home loan from the bank, with an interest rate of 9% per annum (compounded monthly) for a 20-year (240-month) term. You are obligated to make equal monthly payments, and your first payment is due in one month's time. However, after reviewing the bank's repayment calculation, you realize that you can afford to pay R1 000 more each month. How many months less will it take you to repay the home loan if you consistently make an additional monthly payment of R1 000. You may assume that the interest rate will remain fixed over the term of the home loan. a) 203.24 months. b) 0.24 months c) 36.76 months d) 60.10 months e) None of the above Nombulelo Makwete has been shopping around for a loan to finance the purchase of a used car she is buying. She needs to borrow R205 000. She found four offers that seem to be attractive, but would like to choose the offer with the lowest annual interest rate. The information she was…

An open loan of $17,000 was taken out today where payments (deposits) and withdrawals can be made freely with a loan rate of 2.8% compounded semi-annually. To reduce the balance of the loan, $1030 was paid 12 months from today, and $5730 was paid 16 months from today. What is the final outstanding balance of the loan 24 months from today (8 months after the last payment)? State your final answer in dollars ($) with two decimals.

The Johnson Family borrowed $3,000 for 18 months at 4% interest. What is the total payback on the Single Payment loan(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $}?

$255,000 is borrowed to purchase a block of land. It is to be repaid with monthly repayments at 4.2% interest over 25 years: (HINT: Use AMORT on your calculator)   (a)  Calculate the monthly repayments. (b)  How much interest is paid over the life of the loan? (c)  How much is still owed at the end of 10 years?

Suppose a bank makes a two-year $20,000 loan with the entire principal amount due in two years at an annual rate of 4.25%. The bank funds this with a six-month $20,000 CD at a cost of 1.75%. What is the bank's six month static GAP? O $20,000 O $10.000 O $0 O $10,000 O $20,000

Mf6. Please give only typed answer.

A radio commercial for a loan company states: "You only pay 36¢ a day for each $500 borrowed." If you borrow $2,710 for 162 days, what amount will you repay, and what annual interest rate is the company actually charging? (Assume a 360-day year.) a. Amount you repay=$(Round to two decimal places.) ID

1. An amortized loan of P250,000 with an interest rate of 9% will be paid monthly for 3 years. Find the monthly amortization. A high-end laptop computer was bought at an amortized loan of P100,000 with 12% annual interest for 24 months. Find the semi- annually amortization and construct an amortization schedule.