If I took out a loan for $550,000 6 years ago with an interest rate of 7%p.a, paying principle and interest how much do I currently owe?

Q: You are loaned $300 at the end of years 1 and 2, and loaned X at the end of year 3. You pay this…

A: We will use the concept of time value of money. Here each payment is made in a different time period…

Q: If you are willing to loan someone $100 and expect to be paid back $200 and earn 12% on your…

A: Given Loan amount is $100 Amount to be paid back is $200 Rate of return is 12%

Q: semiannual payments over the next 9 years.

A: Amortization is an accounting method that lowers the book value of the loan or intangible asset…

Q: An individual wishes to purchase a house that is selling for $200,000. The person has $50,000 they…

A: Mortgage loan have some down payment and remaining are to be paid monthly over the long period of…

Q: Question 1: part i) : How much Julie Miller would have after 5 years if she deposited $20,000 today…

A: Part (i) Given Information: Present value is $20,000 Invested for five year at rate of 5%

Q: You borrow $325,000 to buy a home using a 30-year mortgage with an interest rate of 3.75 percent and…

A: The question is based on the concept of Annuity in Financial Management. Annuity refers to the…

Q: 4. Your family recently obtained a 30-year (360-month) $500,000 4.875 percent fixed rate mortgage.…

A: Loan amount (L) = $500000 Duration (n) = 360 months r = 4.875% per annum = 0.40625% per month Let M…

Q: Mr. Andi bought a machine and agreed to a loan of Rp. 1,000,000.00 which can be paid in installments…

A: a) When the payment is made today for a loan of 1,000,000, the annuity amount to be paid can be…

Q: many years will it take for 1/3 of the loan balance to be rep-

A: In this problem we have to find out monthly payments and find out time required to repay 1/3.

Q: Garret just closed a new loan on his 4-unit apartment as follows: Initial loan amount, $1,000,000,…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: An investor purchased a house 10 mortgage loan for $300,000. The m of 5 percent compounded monthly…

A:

Q: an 150 000 net proceeds of a loan, how much should I apply for as principal if the bank discounts 5%…

A: The loans are given by the banks are discounted by the banks depending on the policy of bank and it…

Q: How can I get the amount of interest and, separately, principal paid in 25th payment if I have a 30…

A: Installment is the periodic amount paid by the borrower to the lender in order to pay back the loan…

Q: mortgage loan require you to pay $489.44 per month at 6% interest per annum. If you hold condo for…

A: Mortgage are secured loans against and are paid by equal monthly payments and these carry the…

Q: . Simple Interest Solve the following Problem 1. A man borrowed P45,000 from a lending institution…

A: Simple interest is the rate of interest calculated on the principal amount at the percentage which…

Q: QUESTION 1 A man buys a house for $360,000 He makes a $150.000 down payment and amortizes the rest…

A: It is a case where a house is purchased using a downpayment as well as a loan is taken up to cover…

Q: You borrow an amount and agree to pay it off with one lump sum payment of $40,000 in 6 years at 10%.…

A: If the interest is compounded annually Then amount to be borrowed can be calculated using following…

Q: If someone borrow $4000 with interest rate 4% and has to return the loan with equal payment in 4…

A: loan repayments are usually monthly EMIs or annual payments. It consists of interest and principal…

Q: loan of $5000 is taken out today. It is due with interest at j4 = 8% in 2 years. Instead, the…

A: Loans have interest rate and payments are made based on the interest and time period of loans and…

Q: A loan was made 5 years ago for $376770 at 4% for a 21 year term. Rates are currently 9%. What is…

A: Loan refers to an amount being financed by the lender to the borrower at some fixed rate of interest…

Q: Engr. Tongol borrowed money from a loan shark. He receives from the loan shark an amount of P…

A: Simple interest = Amount borrowed * Interest rate * (Number of months / 12)

Q: how much do you need to repay for your yearly instalment if you had borrowed $20,000 at 10% for 5…

A: Year installment will be calculated by amount of borrowings divided by Present value of an ordinary…

Q: Find the total amount that must be repaid on the following note described. $8,593 borrowed at 18.5%…

A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: For Problems 17-24, assume you get a 30-year $90,000 mortgage loan at 7.25% interest. 21. After…

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

Q: To purchase a Hun and I took out a 25 year mortgage for 275000 that charges 4.25 interest and I want…

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

Q: diego took out 3 year loan for 9,000 that has a 14.3 % simple interest     c) How much total…

A: We have to find the total interest that accumulates on a loan.

Q: You bought a house and need a mortgage for $1,014,597. The interest rate on the mortgage is 2.5% and…

A: Compound = 24Principal Amount = p = $1,014,597Interest Rate = r = 2.5 / 24 %Number of Payment = n =…

Q: If I took out a loan for $550,000 10 years ago with an interest rate of 7%p.a on a 25 year loan…

A: Loan (Borrowings): A loan is an agreement to lend money to someone with the intention of repaying it…

Q: A person has to make two payments to pay off a debt. The first payment is due 3 years from now in…

A: The concepts of time value of money will be used to get the answers to the problem. The amount paid…

Q: If I purchase a home for $150,000. I do a fixed 30-year mortgage at 6%. I have to put down 10% or…

A: Monthly payment = Loan Amount/Annuity factor Annuity factor = (1 - (1+r)^(-n) )/r r = monthly…

Q: If you borrow $5,400 at a simple interest of 5% per year, how much will be repayed after 6 years?

A: Simple Interest is a method of calculating interest on the loan. It is calculated on the amount…

Q: The problem describes a debt to be amortized. (Round your answers to the nearest cent.) A man buys…

A: Using excel PMT function to calculate size of each payment.

Q: A man took out a loan with a loan shark. He accepts P21,342.00 from the loan shark and promises to…

A: Equation for calculation of simple interest is as follows: Interest= P x R x T ÷ 100 so, to…

Q: Luis Rivera has taken out a mortgage loan for $225,000 at 4% for 5 years. What will be the total…

A: A mortgage is a type of loan that is typically used to purchase real estate, such as a house or a…

Q: A borrower made a constant payment mortgage loan 8 years ago for $400,000 at 12 percent interest for…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: st borrowed $267,000 at 2.125%for 15-years.My lender is looking to sell my loan and the market rate…

A: The loans are paid by the monthly regular payments that carry the payment for principal amount and…

Q: Noor is buying a home with a $200,000 mortgage using a 5.5 percent, 30-year loan. How much of the…

A: Mortgage$200,000Interest rate5.50%Loan period30Payment per 1000$5.6779

Q: years ago with a fixed interest rate of 1.5%, who is the winner today the lender or the borrower?…

A: Determining whether the lender or the borrower is the "winner" depends on various factors beyond…

Q: tently app your existing mortgage $129,350. your bank iS willing to loan up to 709 the appraised…

A: Equity in home is the value of that is available after paying of the mortgage on the loan and credit…