You just borrowed $10,000 at a rate of (12)-8% per year and you pay $150 per month, starting in one month: a) How long do you expect to be paying the loan? b) If you paid the loan off with a balloon payment, how large would that payment be? c) If you paid the loan off with a drop payment, how large would that payment be?

Your business had to borrow 584, 069.18 to cover some urgent experises. The loan carries an annual interest rate of 15%, and the monthly payment is $2000. How many years will it take to pay off this loan? ROUND YOUR ANSWER TO THE NEAREST WHOLE NUMBER

You can afford a $1300 per month mortgage payment. You've found a 30 year loan at 6% interest.a) How big of a loan can you afford?$b) How much total money will you pay the loan company?$c) How much of that money is interest?

To repay a $35,000 loan you will make 30 equal annual payments (starting one year from today) of $4,998.10. What is the interest rate on the loan? If you don’t have a financial calculator, you can use the fact that it is one of the following rates. a) 8% b) 10% c) 12% d) 14% e) 16%

You have just purchased a car and taken out a $50,000 loan. The loan has a five-year term with monthly payments and an APR of 6.0%. a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) b. How much will you pay in interest, and how much will you pay in principal, during the fourth year (i.e., between three and four years from now)? (Note: Be careful not to round any intermediate steps less than six decimal places.) a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) During the first month, you will pay $ in principal. (Round to the nearest cent.)

Your local loan shark offers weekly payday loans: You can borrow $1,000 and pay back $1,050 one week later (or lose a finger or two). a. What is the effective annual rate on the loan? b.

You took out a loan to buy a new car. The monthly interest rate on the loan is 0.6%. You have to pay $240 every month for 60 months. a. What is the present value of the cash flows if it's an ordinary annuity? b.

You can afford a $1150 per month mortgage payment. You've found a 30 year loan at 8% interest.a) How big of a loan can you afford?b) How much total money will you pay the loan company?c) How much of that money is interest?

Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $987 per month, and the total finance charge is $9,432. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $). (Round your answer to the nearest cent.) $ 8938.537

You've just taken out a student loan with a quoted interest rate of 4.1%. You will have to pay back $1,600 in 19 years, with no intermediate payments necessary.  A. How much did you borrow if interest is compounded monthly?  B. How much did you borrow if interest is compounded daily?