Imagine a loan of $420,000. The loan is to be repaid in six years (i.e., last payment at the end of month 72). If the APR of this loan is 7.80%, what will be your monthly payments? $7,724 $7,643 $7,451 $7,323 $7,548

You are considering taking out a loan of $17,000.00 that will be paid back over 5 years with monthly payments of $330.24. If the interest rate is 6.2% compounded monthly, what would the unpaid balance be immediately after the eleventh payment? The unpaid balance would be?

The terms of a loan call for monthly payments for 6 years at 9.6 percent interest. If you borrow $18,800 to purchase a new car, what is the amount of each payment?

What is the monthly loan payment on a 30 year, $250,000 loan at 5.25%, plus two points

Taking out a 21 year loan at $59,000 with 6% APR compounded monthly, and with monthly payments, calculate the amount of your second principal payment. Round your final answer to one decimal place.

A$66.000interest-only mortgage loan is made for 30 years at a nominal interest rate of 8 percent. Interest is to be accrued daily, but payments are to be made monthly. Assume 30 days each month. Required: a. What will the monthly payments be on such a loan? b. What will the loan balance be at the end of 30 years? c. What is the effective annual, rate on this loan?

You have taken out a 60-month, $26,000 car loan with an APR of 8%, compounded monthly. The monthly payment on the loan is $527.19. Assume that right after you make your 50th payment, the balance of the loan is $5,083.64. How much of your next payment goes toward principal and how much goes toward interest? Compare this with the prinicipal and interest paid in the first month's payment. (Note: Be careful not to round any intermediate steps less than six decimal places.) The amount that goes towards interest is $. (Round to the nearest cent.) C

You borrow $50, 000 for 5 years. This is an amortized load, meaning that payments are the same each month, and the loan is fully paid off with final payment. The quoted interest rate (or APR) in 12% per year. What is the monthly payment?

you have just borrowed $51,107 at an annual interest of 7.6% and must repay the loan in equal installments at the end of each of the next 7 years. By how much would you reduce the amount you owe (that is, principal) at the end of the first year?  (Hint: Compute annual loan payment first and then the loan amortization schedule for the first year.) Group of answer choices $5,798.23 $5,790.23 $5,792.23 $5,796.23 $5,794.23

How long will it take to pay off a loan of ​$47,000 at an annual rate of 8 percent compounded monthly if you make monthly payments of ​$650​? Use five decimal places for the monthly percentage rate in your calculations.   The number of years it takes to pay off the loan is enter your response here years.  ​(Round to one decimal​ place.)