QUESTION 3 What is the interest compounded on a short-term loan of $12,000 for 4 years...
Question 4 You contract a loan of 90,0000AED on 4 years. The interest rate is 6 % compounded annually. Construct an amortization schedule for the loan repayment. (5 Marks)
d0. What is the nominal annual rate of interest compounded quarterly if a loan of $21,500 is paid in seven years by payments of $2,000 made at the end of every six months?
A $12,000 loan is repaid by semiannual payments of $1500 each. Interest on the loan is 10% compounded semiannually. How long will it take to pay off the loan? Select one: a. 10 years b. 10.4 years c. 5 years d. 21 years e. 5.2 years
3. A mortgage loan in the amount of $150,000 is arranged with annual interest 8% compounded semi-annually. The loan is to be fully amortized in 20 years with quarterly payments. For this exercise assume the term is also 20 years. (a)Calculate the amount of principal paid for each of the first two quarters. (b)What is the outstanding balance of the mortgage at the end of the 3rd year? (c)What is the total amount of interests paid on the loan over...
a&b You gave a loan of $5,000.00 to a friend for 3 years compounded every 4 months. At the end of 3 years, your friend gave you $7,116.56 back. 2. What is the interest rate per interest period you charged your friend for the loan? a) b) What are the nominal and effective interest rates?
Determine the effective annual interest rate on a $100,000 short-term loan, with a term of 245 days and a nominal interest rate of 8%. The bank discounts the interest.
Question 3 You contract a loan of 180,000AED on 5 years. The interest rate is 2% compounded annually. Construct an amortization schedule for the loan repayment. (5 Marks)
Loan interest For the loan amount, interest rate, annual payment, and loan term shown in the following table, calculate the annual interest paid each year over the term of the loan, assuming that the payments are made at the end of each year. Amount Interest rate $27,0009 % Annual payment $8,334.05 Term 4 years The portion of the payment that is applied to interest in year 1 is $2430. (Round to the nearest cent.) The portion of the payment that...
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%,...
Question 3 (1 point) A loan of $32,000 at 6% compounded annually is to be repaid by equal payments at the end of every month for three years. How much interest will be included in the 19th payment? 4 poing A home improvement loan is to be repaid by equal monthly payments for six years. The interest rate is 5.4% compounded monthly and the amount borrowed is $33,500. How much interest will be included in the first payment?