nvestigate the effect of the term on simple interest amortized auto loans by finding the monthly payment and the total interest for a loan of $16,000 at 9 7/8% interest if the term is the following. (Round your answers to the nearest cent.) (a) three years payment       total interest  (b) four years payment     $ total interest     $ (c) five years payment     $ total interest     $

Solve the problem. If​ necessary, use the table of monthly payments below. Round your answer to the nearest cent.   Find the monthly payment needed to amortize principal and interest for the following​ fixed-rate mortgage. Mortgage​ amount: ​$177,000 Term of​ mortgage: 10 years Interest​ rate: 9%

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Need Detailed answer with steps please 30. Considering the following information, what is the NPV if the borrower refinances the loan? Expected holding period: 3 years, Current loan balance: $100,000; Current loan interest: 7%; Current loan mortgage payment: $898.33; Remaining term on current mortgage: 15 years; New loan interest: 5.5%; New loan mortgage payment: $817.08; New loan term: 15 years; Cost of refinancing: $5,000. Assume that the opportunity cost is the interest rate on the new loan (5.5%). A. -$5,000.00 B. -$1,155.27 C. $3,844.73 D. $8,844.73

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Complete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment 69 $ 82,000 $ 6,000 5.0 % 30 30

Prepare an amortization schedule for the first 3 payments (in $) of a $72,000 mortgage at 5% for 30 years. Use this table. (Round your answers to the nearest cent.) Payment Number Monthly Payment| Monthly Interest Portion Used to Reduce Principal Loan Balance 2$ 1 2 2$ 2$ 2$ $ 2$ 2$ 2$ 00 3.

Using the Add-On Method, calculate the monthly payment for a $ 8,500 loan that is borrowed for 3 years at an interest rate of 4%

Use PMT formula on the image uploaded to determine the regular payment​ amount, rounded to the nearest cent. The cost of a home is financed with a $150,000 20​-year fixed-rate mortgage at 3.5​%.   a. Find the monthly payments and the total interest for the loan.   b. Prepare a loan amortization schedule for the first three months of the mortgage. ______________________________________________________________ a. The monthly payment is ​$________.. ​(Do not round until the final answer. Then round to the nearest cent as​ needed.)   - The total interest for the loan is $_______. ​(Use the answer from part a to find this answer. Round to the nearest cent as​ needed.)   b. Fill out the loan amortization schedule for the first three months of the mortgage below.   Payment Number Interest Principal Loan Balance   1 ​$ ​$ ​$   2 ​$ ​$ ​$   3 ​$ ​$ ​$   ​(Use the answer from part a to find these answers. Round to the…

Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 3% and with $517.5 repaid at the end of the loan.