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2. You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that...
Can you solve this for me please? 2. You borrowed $6,000.00 for 5 years at 7%...
Can you solve this for me please?
2. You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that to repay the total loan amount you have to pay $1,463 at the end of each year. a) Draw a time line depicting this cash low b) Build a table to determine how much of the annual payment is interest, and how much principal is there in each annual payment.
Solve the cash flow equivalence below for the unknown value of Q assuming an 7% annual...
Solve the cash flow equivalence below for the unknown value of Q assuming an 7% annual interest rate. 1. 800 4i Q 70 o0 i23 2 2, You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that to repay the total loan amount you have to pay $1,463 at the end of each year. a) Draw a time line depicting this cash low b) Build a table to determine how much of the annual payment...
An amount of $15,000 is borrowed from the bank at an annual interest rate 12% h...
An amount of $15,000 is borrowed from the bank at an annual interest rate 12% h Calculate the repavment amounts if the loan ($15 000) will be repaid in two equal installments of $7.500 each, paid at the end of second and fourth years respectively. Interest will be paid each year Click the icon to view the interest and annuity table for discrete compounding when i- 12%% per year . a. The equal end-of-year payments required to pay off the...
1. Brenda and Matt borrowed $40,000 from the Farm Service Agency for spring crop inputs, at 8% annual interest rate...
1. Brenda and Matt borrowed $40,000 from the Farm Service Agency for spring crop inputs, at 8% annual interest rate. They took out the loan on March 1 and paid it back on December 10, 285 days later. How much did they have to repay? Principal Interest TotalS 2. They also borrowed $12,000 from Farm Credit Services to buy some sows. They agreed to pay it back with 3 annual payments, plus 8% interest on the remaining loan balance. If...
(20 points) You borrow $3000 for four years at an annual effective interest rate of i....
(20 points) You borrow $3000 for four years at an annual effective interest rate of i. The investor pays interest only on the loan at the end of each year and accumulates the amount necessary to repay the principal at the end of four years by making level payments at the end of each year into a sinking fund (an account used to accumulate money needed to pay back a debt). The sinking fund earns an annual effective interest rate...
Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal...
Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe at the end of the second year, after you have made the second payment? Here we use an annual compounding. Hint: Amortization loan table.
Consider a $15,000 loan with an annual interest rate of 9%, a term of four years,...
Consider a $15,000 loan with an annual interest rate of 9%, a term of four years, anda monthly payment of A (5 points) What is the amount of the monthly payment? a. (10 points) Ifyou pay $750 per month, how many months will it take to repay the loan? b. (10 points) If you pay $750 per month on this loan, how much will the final payment C. be?
Consider a $15,000 loan with an annual interest rate of 9%,...
This morning, you borrowed $150,000 to buy a house. The mortgage rate is 7 percent. The...
This morning, you borrowed $150,000 to buy a house. The mortgage rate is 7 percent. The amortized loan requires you to pay $10,000 in principal plus interest each year over 15 years. The first payment is due one year from today. How much is the second payment?
Mark borrowed $12746 to help pay for expenses. If the loan carries an annual interest rate...
Mark borrowed $12746 to help pay for expenses. If the loan carries an annual interest rate of 3.2% and he wants to be debt free in 3 years by making monthly payments, how much will each payment be? Round your answer to the nearest dollar.
Suppose you borrowed a certain amount of money 5 years ago at an annual interest rate...
Suppose you borrowed a certain amount of money 5 years ago at an annual interest rate of 2.3% with 152 compounding intervals per year. If you returned $10,973 today, how much interest did you pay?
Can you solve this for me please?
2. You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that to repay the total loan amount you have to pay $1,463 at the end of each year. a) Draw a time line depicting this cash low b) Build a table to determine how much of the annual payment is interest, and how much principal is there in each annual payment.
Solve the cash flow equivalence below for the unknown value of Q assuming an 7% annual interest rate. 1. 800 4i Q 70 o0 i23 2 2, You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that to repay the total loan amount you have to pay $1,463 at the end of each year. a) Draw a time line depicting this cash low b) Build a table to determine how much of the annual payment...
An amount of $15,000 is borrowed from the bank at an annual interest rate 12% h Calculate the repavment amounts if the loan ($15 000) will be repaid in two equal installments of $7.500 each, paid at the end of second and fourth years respectively. Interest will be paid each year Click the icon to view the interest and annuity table for discrete compounding when i- 12%% per year . a. The equal end-of-year payments required to pay off the...
1. Brenda and Matt borrowed $40,000 from the Farm Service Agency for spring crop inputs, at 8% annual interest rate. They took out the loan on March 1 and paid it back on December 10, 285 days later. How much did they have to repay? Principal Interest TotalS 2. They also borrowed $12,000 from Farm Credit Services to buy some sows. They agreed to pay it back with 3 annual payments, plus 8% interest on the remaining loan balance. If...
(20 points) You borrow $3000 for four years at an annual effective interest rate of i. The investor pays interest only on the loan at the end of each year and accumulates the amount necessary to repay the principal at the end of four years by making level payments at the end of each year into a sinking fund (an account used to accumulate money needed to pay back a debt). The sinking fund earns an annual effective interest rate...
Consider a $15,000 loan with an annual interest rate of 9%, a term of four years, anda monthly payment of A (5 points) What is the amount of the monthly payment? a. (10 points) Ifyou pay $750 per month, how many months will it take to repay the loan? b. (10 points) If you pay $750 per month on this loan, how much will the final payment C. be?
Consider a $15,000 loan with an annual interest rate of 9%,...
Mark borrowed $12746 to help pay for expenses. If the loan carries an annual interest rate of 3.2% and he wants to be debt free in 3 years by making monthly payments, how much will each payment be? Round your answer to the nearest dollar.
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