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- Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?Find the payment necessary to amortize a 8% loan of $1100 compounded quarterly, with 19 quarterly payments. The payment size is $________Find the payment necessary to amortize a 6% loan of $100,000 compounded annually, with 11 annual payments. The payment size is S
- Find the payment necessary to amortize a 4% loan of $2100 compounded quarterly, with 19 quarterly payments. The payment size is S (Round to the nearest cent.)Find the amount of the payment necessary to amortize a loan of $32,000 at 4% compounded quarterly in 15 payments. Use TVM solver in calculatorUse the Loan Payoff Table to determine both the finance charge and the payment required to amortize a loan of $4100 at an annual interest rate of 11% with a term of 36 monthly payments. What is the amount of each payment? What is the finance charge?
- A $400 loan is to be amortized with eight quartely payments over 2 years. If the interest is at J4 = 10% a. Find the quartely payment b. Construct an amortization schedule for this loan payment.Create an amortization table for a 15-yr fully amortizing, 6% loan for $10 million. Assume annual payments. What is the loan balance after year 5?Use the Amortization Table to determine the payment required to amortize a loan of $7500 at an annual interest rate of 12% with a term of 15 years. Payments are to be made monthly.What is the amount of each payment?
- Find the payment necessary to amortize a 7% loan of $2200 compounded quarterly, with 6 quarterly payments. Find (a) the payment necessary to amortize the loan and (b) the total payments and the total amount of interest paid based on the calculated quarterly payments. Then create an amortization table to find (c) the total payments and total amount of interest paid based upon the amortization table. a. The quarterly payment needed to amortize this loan is $ b. The total amount of the payments is $ The total amount of interest paid is $ c. The total payment for this loan from the amortization table is $ The total interest from the amortization table is $ Keep getting it wrong when I reach point b... need help thxFind the payment necessary to amoritize a 4% loan of $1600 compounded quarterly, with 9 quarterly payments The payment size is % (Round to the nearest cent.)Determine the annual payment on a OMR15,000 loan that is to be amortized over a four-year period and carries a 10 percent interest rate. Also prepare a loan amortization schedule for this loan.