Find the number of payments

Q: years. The interest rate is i(12) = 8.750%. What is the outstanding balance on the loan just after…

A: The time value of money recognizes the idea that the value of an amount of money today differs from…

Q: a. How many payments are required to repay the loan? Number of payments b. Use the given information…

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

Q: ames has a mortgage of $88,500 at 4% for 15 years. The property taxes are $3,700 per year, and the…

A: The PITI payment includes payments for mortgage, insurance and taxes towards the mortgage.

Q: Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation…

A: As you have asked a question with multiple parts, we will solve the first 3 parts as per policy of…

Q: On September 1, 2018, you bought a used car for $37,000. You paid $2,000 down and financed the…

A: From the given information first monthl payment on the loan is calculated and then using the monthl…

Q: Devin received a loan of $56,250, 4 years ago. The interest rate charged on the loan was 4.74%…

A: The time value of money states that the interest-earning capacity of money makes money received…

Q: Carla borrowed $1049.00 from the Central Bank at 8.5% per annum calculated on the monthly unpaid…

A: The complete repayment schedule for the loan is shown in the table above. The loan is paid off in 5…

Q: One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a…

A: The time value of money is a concept in finance that recognizes the idea that a sum of money has…

Q: Suppose that you have borowed 5,000,000 from a bank with 5% interest rate for 4 years. Show the…

A: Loan Repayment Calculation of the loan repayment is some what complicated and need to know the fact…

Q: Charmaine obtains a loan for home renovations from a bank that charges simple interest at an annual…

A: As per the given information: Rate of interest charged by a bank - 9.65% simple interest. Loan…

Q: Payment rate = i 729.18 dollars per year Interest paid i 12395.98

A: We first need to determine the effective annual rate using the formula below: EAR = einterest rate -…

Q: Keiko obtains a loan for home renovations from a bank that charges simple interest at an annual rate…

A: Given: Principal (p) = $ 16, 500 Time  (t)=76365 Interest rate (r) = 9.65% = 0.0965

Q: 3. Ruby Red borrowed $7500 for the diner at 8.1% compounded monthly. She agreed to repay the loan in…

A: The loan amount is $7,500. The annual interest rate is 8.1%. The payments compounded monthly. The…

Q: Karen obtained a $36,000 loan at 3.5% compounded semiannually. a-1. What monthly payment will repay…

A: Here, Loan amount = $36,000 Interest rate = 3.5% compounded semi-annually Time = 8.5 years To Find:…

Q: Marcela took out a $600 discounted loan with a 4% annual interest rate over a period of 8 months.…

A: Effective annual interest rate is referred as the interest rate which is adjusted for compounding…

Q: Justin owes $900 in 4 months and $224 in 8 months. The lender agrees to allow Justin to pay off…

A: The problem case focuses on calculating the present value of the loan payment at the present time…

Q: Adrian borrowed $2,000 for 4 years For the first 15 years, the interest rate on the loan was 8%…

A:

Q: Wade Ellis buys a new car for $16,882.14. He puts 10% down and obtains a simple interest amortized…

A: An amortized mortgage refers to a type of loan where the borrower makes regular payments over a…

Q: One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a…

A: A loan refers to a contract between two parties where money is forwarded to one party by the other…

Q: Ocean Spray has applied for a mortgage of $205,000. Interest is computed at 5.5 percent compounded…

A: The question is asked to determine the monthly payment, weekly payment, and biweekly payment.   We…

Q: Joseph received a loan of $40,000 from the bank at 4.25% compounded monthly. If she had to repay…

A: Mortgage/ Borrowings:  Borrowings are the loans taken by an individual, from banks or non-banking…

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: Carla borrowed $1,250 from the Royal Bank at 8.78% per annum calculated on the monthly unpaid…

A: Loan = 1250 Interest Rate = 8.78%/12 per month Monthly Payment = 180

Q: Antonio borrows $2,428 from the bank for 5 years at an annual interest rate of 3.92% compounded…

A: Compound interest is the interest which is interest applicable on interest earned before.

Q: Steven Riley is borrowing $9,000 for 5 years at 8 percent. Payments are made on a monthly basis,…

A: Loan repayment refers to the process of returning borrowed funds, typically from a lender or…

Q: , Jane borrows an amount of money L. She repays it in 360 equal monthly payments at the end of each…

A: A loan is a contract where a party forwards the money to another party on the promise of repayment…

Q: Jacob has just agreed to take a loan that will require him to make payments of $107 at the end of…

A: Loan amount refers to an amount that is paid every month for the repayment of a loan by the borrower…

Q: please solve last part.     Eddie borrows $1000. To repay the amount she makes 12 equal monthly…

A: The main two components of Mortgage payments are principal and interest. The principal is the amount…

Q: Dustin obtained a business loan of $220,000 at 5.21% compounded semi-annually.a. What was the size…

A: Sure, let's tackle these questions step by step.a. To find the size of the semi-annual payments to…

Q: Suppose that you have borrowed 5,000,000 from a bank with 5% interest rate for 4 years. Show the…

A: The question is based on the concept to calculate principal and interest on the loan amount in…

Q: 4. Liam borrows $10,000 at an effective periodic rate of i. The loan will be paid back with 10…

A: In order to show the proof, we will have to use the converging series concept of siminishing…

Q: You borrow $64,000 in the form of an unsubsidized loan at 3.98% APR. How much money do you owe when…

A: Given: Loan amount = $64,000 APR = 3.98% Period 6 months

Q: nnual

A: In this we have to calculate future value in two steps for different rate of interest.

Q: Please do not answer this question in excel thank you in advance. A deposit of $2,500 is made into…

A: Future value is the value of an asset which grow to a higher value in future. It helps to make…

Q: What is the APR for this loan how do I answer this using the TVM function

A: The time value of money (TVM) is the financial concept that money available today is worth more than…

Q: jackal promises to pay 1000 at the end of 6 months in obtaining a loan from a banker b who charges…

A: Effective interest rate is the interest rate that is earned or paid after considering the…

Q: Pedro borrows P300,000.00 from lender  ABC today at 12% compounded monthly.          To fulfill his…

A: As you have asked a multiple subpart question, we will answer the first three subparts for you. To…

Q: tained a loan from the bank worth P 400,000.00 payable within 4 years from the time the loan was…

A: The given problem can be solved using PMT function in excel. PMT function computes installment…