You have a 30-Year mortgage loan for $300,000 with an interest rate of 6% If you want to pay off the loan after 10 years, what is the outstanding balance on this loan?
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- You have a 30-Year mortgage loan for $300,000 with an interest rate of 6% If you want to pay off the loan after 10 years, what is the outstanding balance on this loan?
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- Create an amortization table in Excel for a new car loan for 30,000 for six years at 5%. Determine the total amount of interest you will pay on this loan. Copy the table from Step 1, make an extra principal payment of $2,000 on the first day of year two. How does this change the total interest you will pay on this loan? Create an amortization table in Excel for a new car loan for 30,000 for three years at 5%. Determine the total amount of interest you will pay on this loan. Copy the table from Step 3, change the interest rate to 2%. How does this change the total interest that you will pay on the loan? What is the total amount you will pay for the car (principal and interest) in each of the steps 1, 2, 3 and 4.If you lend $3000 to a friend for 15 months at 8% annual simple interest, find the future value of the loan. $ Need Help? Read It Master It 4Watch the video and then solve the problem given below. Click here to watch the video. You are considering a loan with an annual rate of 8%. The mortgage is $130,000 with 180 monthly payments of $1242.35 for 15 years. Complete the first two months of the amortization table. (Simplify your answers. Round to the nearest cent as needed.) Payment number Interest payment Principal payment Balance of loan 1
- Create a loan amortization table using the following information: Amount of the loan: $500,000 Length of the loan: 30 years Payment: Equal annual payment Interest rate: Annual interest rate starts at 3% in year 1, then every year after that, the interest rate is previous year's interest rate plus 0.1%. PLEASE DO IT IN EXCEL AND SHOW YOUR STEPSYou can afford a $1400 per month mortgage payment. You've found a 30 year loan at 8% interest. a) How big of a loan can you afford? Round your answer to the nearest dollar. b) How much total money will you pay the loan company? Round your answer to the nearest dollar. c) How much of that money is interest? Round your answer to the nearest dollar. Question Help: D Post to forum Submit QuestionHelp O You take out a 30-year $150,000 mortgage loan with an APR of 12% and monthly payments. In 11 years, you decide to sell your house and pay off the mortgage. What is the principal balance on the loan? Note: Round the monthly loan payment to 2 decimal places when computing the answer. Round your answer to 2 decimal places. Principal balance on the loan Save & Exi Submit
- You take out a 14-year personal loan for $13000 at rate of 8.1% which compounds 4 times per year. After 1 years, you refinance the loan and get a 13-year loan at a rate of 6.48%. a) When you first get the loan, how much is your payment? $ 390.24 Correct b) Make a spreadsheet for your loan balance, interest, and payments. After 1 years of paying, how much do you owe? $ c) Adjust your spreadsheet for the new interest rate starting when you refinance in year 1. What is your new payment? $Please provide your complete solutions to the given problems. You may use MS Excel for your solutions. 1. A loan is to be amortized for 4 years through equal payments of PhP48,532.49 at the end of every 6- month period. If the loan earns interest at 7% compounded semi-annually, create an amortization schedule and find: a. the present value of the loan b. the outstanding principal after 3 years c. the amount of principal already paid after 3 years (sum of the principal repayment column for the first 3 years) d. the total interest paid on this loan (sum of the interest column)I. M. Greedy Mortgage Bank offers you a $60,000, eleven-year term loan at a 5% annual interest rate to help you buy a home. What will your annual loan payment be?
- You are buying your first car and have taken out a loan to fund the purchase. The terms of the loan are provided below: Loan amount $ 20,000 Annual interest rate 5% Loan type Amortizing Loan duration in years 5 Repayment frequency Annual repayments First repayment 1 year’s time c) Calculate the following: i) The annual loan repayment. ii) The total amount of dollar repayments to be made over the duration of the loan. iii) The total interest in dollars to be paid over the duration of the loanYou take out a 30-year $150,000 mortgage loan with an APR of 12% and monthly payments. In 11 years, you decide to sell your house and pay off the mortgage. What is the principal balance on the loan? Use ExcelYou lend a friend $10,000, which your friend will repay in 5 equal annual end-of-year payments of $3,000, with the first payment to be received 1 year from now. What rate of return does your loan receive? I need to be able to use excel and manually calculate as well.