To help purchase his new minivan, Ahmad is taking out a s26,000 amortized loan for 6 years at 5.2% annual interest. His monthly payment for this loan is s421.14. Fill in all the blanks in the amortization schedule for the loan. Assume that each month is of a year. Round your answers to the nearest cent. 12 Payment number Interest Principal payment New loan payment balance 1 2 $25,381.72
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- To help purchase his new minivan, Eric is taking out a $17,000 amortized loan for 6 years at 5.9% annual interest. His monthly payment for this loan is $280.94. Fill in all the blanks in the amortization schedule for the loan. Assume that each month is of a year. Round your answers to the nearest cent. 12 Payment number 1 2 1 40 41 Interest payment $0 $0 $41.98 Principal payment $0 $0 $238.96 $0 New loan balance $0 $16,604.31 $8299.52 $To help purchase his new minivan, Miguel is taking out a $23,000 amortized loan for 6 years at 6.1% annual interest. His monthly payment for this loan is $382.26. 1 Fill in all the blanks in the amortization schedule for the loan. Assume that each month is of a year. Round your answers to the nearest cent. 12 FULL HD Payment number 1 49°F Sunny 2 Esc ⠀ Explanation 1 35 36 1080 F1 Z² Interest payment 2 $ F2 0 SO $ Check $66.99 $0 ((1)) : F3 #3 Principal payment $0 $0 $315.27 $0 F4 $ 4 F5 New loan balance $1 $22,467.97 : $12,863.69 $0 F6 % 5 € ▬▬ ^ 6 I X F7 a S WL F acer F8 & 27 7 7 3 W 2022 McGraw Hill LLC. All Rights Reserved. Terms of Use | Privacy Center | Accessibility F9 D * 8 8 F10 X 9 9 PDF/ W& Est F11 F12 NumLk Prt Sc Pause Br + // 181 Aa Insert Delete La E 12:57 PM 11/15/2022 BackTo help purchase her new truck, Rita is taking out a $19,000 amortized loan for 6 years at 6.5% annual interest. Her monthly payment for this loan is $319.39. 1 Fill in all the blanks in the amortization schedule for the loan. Assume that each month is of a year. Round your answers to the nearest cent. 12 Payment number 1 2 20 21 Interest payment $1 $ $79.52 $0 Principal payment $0 $0 E $239.87 $0 New loan balance $0 $18,565.88 $14,440.35 $0 X 3
- To help buy her new condominium, Mai is taking out a $163,000 mortgage loan for 30 years at 3.4% annual interest. Her monthly payment for this loan is $722.87. of a year. Round your answers to the nearest cent. 12 Fill in all the blanks in the amortization schedule for the loan. Assume that each month is Payment number Principal payment Interest New loan balance payment 1 2 $| $162,477.18 130 $346.85 $376.02 $122,041.32 $ 0 131o help purchase her new car, Nicole is taking out a S34,000 amortized loan for 6 years at 5.8% annual interest. Her monthly payment for this loan is $560.27. Il in all the blanks in the amortization schedule for the loan. Assume that each month is of a vear. Round your answers to the nearest cent. Payment number Interest Principal payment New loan payment balance 1 2$ 2 30 $104.91 $455.36 $21,250.60 31To help buy his new townhome, Bill is taking out a s163,000 mortgage loan for 30 years at 3.4% annual interest. His monthly payment for this loan is $722.87. Fill in all the blanks in the amortization schedule for the loan. Assume 1 that each month is of a year. Round your answers to the nearest cent. 12 Interest Payment number Principal New loan payment payment balance 1 $162,477.18 130 $346.85 $376.02 $122,041.32 131
- o help purchase her new car, Nicole is taking out a $34,000 amortized loan for 6 years at 5.8% annual interest. Her monthly payment for this loan is $560.27. ill in all the blanks in the amortization schedule for the loan. Assume that each month is of a year. Round your answers to the nearest cent. 12 Payment number Principal payment New loan balance Interest payment 1 2 $104.91 $455.36 $21,250.60 31 30Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month. a. What will be the amount of his monthly amortization? b. Construct an amortization schedule. Use a table similar to that found in our textbook. c. What will be the outstanding balance of his loan at the end of 4 months from today? d. If Pedro failed to pay the 2nd and 3rd monthly amortization, how much shall be the required single payment on the fifth month in order to fully pay his outstanding obligation? e. Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be?To help buy her new condominium, Maria is taking out a $154,000 mortgage loan for 30 years at 3.7% annual interest. Her monthly payment for this loan is $708.84. Fill in all the blanks in the amortization schedule for the loan. Assume that each month is of a year. Round your answers to the nearest cent. 1 12 Payment number 1 2 1 140 141 Interest payment $ $349.86 $0 Principal payment $358.98 $ New loan balance $0 $153,531.26 $113,108.33 $ ? OO E 4
- Wade Ellis buys a new car for $16,177.57. He puts 10% down and obtains a simple interest amortized loan for the rest at 11 1/2% interest for four years. (Round your answers to the nearest cent.) (a) Find his monthly payment. (b) Find the total interest.(c) Prepare an amortization schedule for the first two months of the loan. Payment Number PrincipalPortion InterestPortion Total Payment Balance 0 n/A n/A n/A n/A 1 ? ? ? ? 2 ? ? ? ?Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month. a. What will be the amount of his monthly amortization? b. Construct an amortization schedule. Use a table similar to that found in our textbook. c. What will be the outstanding balance of his loan at the end of 4 months from today? d. If Pedro failed to pay the 2nd and 3rd monthly amortization, how much shall be the required single payment on the fifth month in order to fully pay his outstanding obligation? e. Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be?…Wade Ellis buys a new car for $16,168.37. He puts 10% down and obtains a simple interest amortized loan for the rest at 11 1/2 % interest for four years. (Round your answers to the nearest cent.) (a) Find his monthly payment.$ (b) Find the total interest.$ (c) Prepare an amortization schedule for the first two months of the loan. PaymentNumber PrincipalPortion InterestPortion TotalPayment Balance 0 $ 1 $ $ $ $ 2 $ $ $ $
