Suppose you wish to purchase heavy equipment machinery and a commercial bank will lend you $65,000 for the transaction. The loan will be amortized over 5 years and the nominal interest rate will be 8% payable monthly. Calculate the monthly payment and the annual percentage rate (EAR) of the loan to be amortized

Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is 10% converted monthly. Find the monthly payment.

Find the monthly payment needed to amortize a typical$210,000 mortage loan amortized over 30 years at an annual interest rate of 4.1% compounded monthly. (round your answer to the nearest cent)   Find the total interest pain on the loan

Determine the monthly payment if you take out a loan for $ 200000 with an annual interest rate of 7% and the term of the loan is 20 years. Monthly Payment =

A house price of $100,000 can be financed with two loans below with monthly payments. The total origination cost associated with these two loans is $2,000.   Loan Amount Term (years) Interest Rate 1st loan $ 80,000 30 5% 2nd loan $ 10,000 30 7% Alternatively, the borrower can borrow one loan in the amount of $90,000 with origination cost of $1,500. What should the interest rate be on the $90,000, 30 years loan with monthly payments so that the borrower will be indifferent between these two alternatives? 4.28% 5.28% 6.28% 7.28%

You have applied for a loan at 3.5% annual interest rate with monthly payments for 15 year fully amortized term. The loan amount is $145, 000. What is your monthly loan payment?

You borrow 112000 for 10 years from a bank in order to renovate your flat. The effective interest rate charged by the bank is 7.6% per annum. The loan is to be repaid by level annual repayments, paid in arrears. Calculate the annual repayment. Give your answer to two decimal places.

A N$1000 loan is repaid by annual payments of N$150, plus a smaller final payment. The first payment is made one year after the time of the loan and construct an amortization schedule and determine the size of the last payment interest rate=10% per annum time=3 years

Prescott Bank offers you a $22,000, 6-year term loan at 10 percent annual interest. What will your annual loan payment be?

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?