Suppose you take out a margin loan for $65,000. The rate you pay is an effective rate of 8.7 percent. If you repay the loan in six months, how much interest will you pay? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Interest
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- Suppose you take out a margin loan for $71,000. The rate you pay is an effective rate of 5.6 percent. If you repay the loan in six months, how much interest will you pay? (Do not round intermediate calculations. Round your answer to 2 decimal places.)Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 30 days, you make a partial payment of $1,500. After another 60 days, you make a second partial payment of $2,000. What is the final amount (in $) due on the loan? (Round your answer to the nearest cent.)Suppose you borrow $15,000 and then repay the loan by making 12 monthly payments of $1,297.92 each. What rate will you be quoted on the loan? NO EXCEL
- If you borrow $8,637 and are required to pay back the loan in five equal annual installments of $2,700, what is the interest rate associated with the loan? Use Appendix D or a financial calculator to solve this problem. (Round your answer to the nearest whole percent.) Interest rate %Suppose you take out a margin loan for $77,000. You pay an effective rate of 7.0 percent. If you repay the loan in 90 days, how much interest will you pay?Suppose you purchase a home and obtain a 15-year fixed-rate loan of $195,000 at an annual interest rate of 6.0%. a) What is your monthly payment? N: months I %: P.V: $ PMT: $ F.V: 0 P/Y: 12 C/Y: 12 b) Of the first month's mortgage payment, how much is interest? HINT: I=Prt Interest: I=$ c) Of the first month's mortgage payment, how much is applied to the principal? HINT: PMT - Interest Amount Applied to Principal: $ d) How much is your outstanding balance after the first month’s payment? HINT: Principal - Amount Applied to Principal Outstanding Balance after first payment: $
- Can I get some assistance setting this problem up: Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 30 days, you make a partial payment of $1,500. After another 60 days, you make a second partial payment of $2,000. What is the final amount (in $) due on the loan? (Round your answer to the nearest cent.) $Suppose you take out a loan for 180 days in the amount of $12,500 at 15% ordinary interest. After 40 days, you make a partial payment of $1,000. What is the final amount due on the loan? (Round to the nearest cent.)Suppose you want to borrow $90,000 and you find a bank offering a 20-year loan with an APR of 5%. a. Find your regular payments if you pay n = 1, 12, 26, 52 times a year. b. Compute the total payout for each of the loans in part (a). c. Compare the total payouts computed in part (b). a. The payment for n = 1 would be $ The payment for n = 12 would be $ The payment for n = 26 would be $ The payment for n= 52 would be $ (Do not round until the final answer. Then round to the nearest cent as needed.)
- Pursell Bank offers you a five-year loan for $100,000 at an annual interest rate of 6.8 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Annual loan paymentSuppose that you obtain a 100.000 TL loan from a bank. The maturity is 10 years and the annual interest rate is 10%. You will pay monthly installments. However, according to the loan agreement you will make no payments for the first three years. What would be the monthly payment amount? 830,06 TL 660,75 TL O 1.104,81 TL 879,46 TL O Diğer: What would be the annual interest rate for a 5.000.000 TL bank loan that requires 125.000 TL of total interest payment for a period of 4 months? O 7% 7,5% 8% 8,5% O Diğer:Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $985 per month, and the total finance charge is $9,360. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $) Round to the nearest cent