You attend college and have 2 loans: A SUBSIDIZED loan for $40,000 with 3.88% APR, and an UNSUBSIDIZED loan for $28,000 with 4.06% APR. You plan to elect standard repayment. Calculate your total monthly payment for both loans.
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You attend college and have 2 loans: A SUBSIDIZED loan for $40,000 with 3.88% APR, and an
UNSUBSIDIZED loan for $28,000 with 4.06% APR. You plan to elect standard repayment. Calculate your
total monthly payment for both loans.
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- You need additional cash for the payment of your tuition fee and other expensesfor your studies. Because of your premium contributions to RV INVESTMENTS two yearsago, you are already eligible to apply for RV INVESTMENTS Student Multi-Purpose Loanworth Php 40,000 with 10% annual interest rate payable within 2 years. Computefor the Monthly Payment and Prepare Amortization Schedule (3 months paymentonly). TOPIC: Principle of FinanceSuppose that you decide to borrow $15,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 5.9% Installment Loan B: five-year loan at 4.8% P Use PMT = to complete parts (a) through (c) below. - nt 1- 1+ a. Find the monthly payments and the total interest for Loan A. The monthly payment for Loan A is $. (Do not round until the final answer. Then round to the nearest cent as needed.)Suppose that you decide to borrow $13,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 6.3% Installment Loan B: five-year loan at 4.8% P. Use PMT = to complete parts (a) through (c) below. - nt 1- a. Find the monthly payments and the total interest for Loan A. The monthly payment for Loan A is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for Loan A is $. (Round to the nearest cent as needed.) b. Find the monthly payments and the total interest for Loan B. The monthly payment for Loan B is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for Loan B is $. (Round to the nearest cent as needed.) MacBook Air
- You plan to purchase a $100,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 8.25 percent. You will make a down payment of 20 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. Calculate the amount of interest and, separately, principal paid in the 25th payment. (pls show solution)please answer with correct calculations and explanations. QUESTION: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed with a year mortgage at 8% and 4 discount points. Kari made a deposit of $30,000 (applied to the doen payment) when the sales contract was signed. Kari also has three expenses: credit report, $70; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $200; and attorney's fees, $500. Find the closing costs (in $).Suppose that you decide to borrow $35,000 for a new car. You can select one of the following loans, each requiring regular monthly payments: Installment Loan A: three-year loan at 6% Installment Loan B: five-year loan at 9%. Find the monthly payments and the total interest for Loan A. Find the monthly payments and the total interest for Loan B. Compare the monthly payments and total interest for the two loans. Use this formula to find the monthly payments:
- Your parents can take out a federal Direct Plus loan to pay for the total remaining cost of your undergraduate education, after any other financial aid (such as federal direct student loan). The simple interest rate was 6.84% for 2015-2016. The standard repayment plan is fixed monthly payments over 10 years, and your parents can elect to defer the start of repayment until six months after you graduate. 1. Suppose that your parents take out a PLUS loan on your behalf on September 1 before your senior year for $10,000, at the rates mentioned above, and begin paying it back six months after you graduate on June 1. How much is their monthly payment.Suppose that you borrow $5500 for your first year and $6500 for your second year (the maximum amounts for a dependent student), as federal direct student loans at a 4.29% interest rate. Suppose that each loan begins on September 1 of its year, that you finish college in four years, that you do not pay the accruing interest in the meantime, and that you begin repayment on December 1 after graduation. You also borrow $7500 for each of your third and fourth years, again on September 1, all at a 4.29% interest rate. You finish college in four years, and you begin repayment on December 1 after graduation.What is your total debt then, and how much of that is interest?The EZ Credit Company offers to loan a college student $6,000 for school expenses. Repayment of the loan will be in monthly installments of $304.07 for 24 months. The total repayment of money is $7,297.68, which includes the original $6,000, $1,207.04 in interest charges, and $90.64 for a required life insurance policy covering the amount of the loan. Assume monthly compounding of interest. What nominal interest rate is being charged on this loan?
- You finance your college education with a student loan. Every month, you borrow $1,000 to pay for living expenses. While in college, you do not have to pay interest on the loan, nor do you need to pay back any loan principal. However, the interest accrues to your loan balance. Assume an annual interest rate of 6% on your student loan, what will be your loan balance when you graduate in four years (round your answer to the nearest dollar)? $52,495 None of these are correct $48,000 $54,098 50,880In the Excel Payment Function file that follows, you are looking to see what your basic mortgage payment will be if you buy a home for $250,000. It will be a 30-year mortgage. The interest your bank will charge will be 7.5%. In cell C5, create a function that determines what your monthly payment will be.An online lending company is offering simple interest personal loans based on consumer creditscores. With your credit score, you can borrow $5000 for 3 years at an interest rate of 17.73%. Howmuch money will you pay the lending company at the end of 3 years?
