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![Home nert Page Layout Formulas Data Review View dd-Ins Cut Σ AutoSum ー E ゴWrap Text Copy B 1 프 . Ej-., Δ. : r_一 逻锂函Merge & Center. $, % , 弼,8 conditional Format . Cell Insert Delete Format Sort &Find & Format Painter Formatting as Table Styles2 Clear Clipboard Alignment Number Cells Edting X115 108 109 110 RATE 7% YEARS LOAN 10000 PMT $1,674.68 -PMT(S108,S110,-S109)] 112 113 114 115 116 PRINCIPAL PORTIONTO INTEREST C-A+0.07 PORTION TO PRINCIPAL D- B-C BIG. YEAR PAYMENT YEAR $974.68 63177 $1,042.91 $1,674.68$558.771,115.91 480.66$1,194.02 $1,277.60 6 $ 4,394.88 $1,674.68 307.64 1,367.04 $ 1,462.73 8 $1,56.1 1,674.68 $109.56 1,565.12 1 S 10,000.00$1,674.68 700.00 2 S 9,025.32 $1,674.68S 3 7,982.42 4$ 5 5,672.49 6,866.51$1,674.68 118 119 120 121 122 123 124 125 126 11 トトー MÍN VAR PORT BEST CAL BİNOMIAL 2 TIME- SINKING AMORTIZA Sheet2 $1,674.68$ 397.07 7 3,027.85 1,674.68 $ 211.95 $ 1,674.68 2(a) 2(b) 2 (c) ANNUAL PAYMENT INTEREST PAYMENT FOR YEAR3 $558.77 AT THE END OF YEAR 8, LOAN IS FULLY REPAID, SO BALANCE IS O (ZERO) JORDAN ! INSURANCE, ea 130% 15-01-2019](http://img.homeworklib.com/questions/083857b0-74b5-11ea-880a-993e2b565d52.png?x-oss-process=image/resize,w_560)
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For 2(a)-2(c) using the following information. You borrow $10,000 today with interest rate 7%, and you...
QUESTION 4 For 2a)2(c) using the following information You borrow $10.000 today with interest rate 7...
QUESTION 4 For 2a)2(c) using the following information You borrow $10.000 today with interest rate 7 and you plan to pay the bank back with equal annual payment. Let us assume the first payment happen at the end of each year. Principal beg. year Payment end year Interest Principal 2) how much is the annual payment? 1674.678 QUESTIONS You borrow $10,000 today with interest rate 7%, and you plan to pay the bank back with 8 equal annual payment 200)...
suppose you borrow $10,000 today ; and promise to pay the loan back in 6 years...
suppose you borrow $10,000 today ; and promise to pay
the loan back in 6 years with a total payment (principal plus
interest) of 15,092. what annual interest rate is the bank
charging? assume that compounding is annual.
uisst ydu do the homework omework is not timed. may view your answers and the correct answers after each atternpt. Note, however, that Canvas only shows t ct answers; it does not display the solution method nay use any of your course...
4. You are about to borrow $16,000 from a bank at an interest rate of 7%...
4. You are about to borrow $16,000 from a bank at an interest rate of 7% compounded annually. You are required to make five equal repayments in the amount of $3,500 per year, with the first repayment occurring at the end of year 1. a. Show the interest payment and principal payment in each year. b. How much is still owing at the end of year 5? c. What annual payments would be required to completely pay off the loan...
2-2 You borrow $20,000 at an annual interest rate of 8%. You will pay the loan...
2-2 You borrow $20,000 at an annual interest rate of 8%. You will pay the loan back in two equal payments at the end of year 1 and year 4. a. Calculate the amount to be paid each year using the factor tables. b. Draw the fully labeled cash flow diagram. c. Complete the following table: BOY alanceamount BOY+Interest)Payment Interest Total Balance f) 3 4
Problem Statement: Suppose you borrow $ 2500 at 4% annual interest that you plan to repay...
Problem Statement: Suppose you borrow $ 2500 at 4% annual interest that you plan to repay in four equal annual payments. How much will the annual payment be? How much of each payment is interest? Solution: Include the decimal point if needed. Round to the hundredth of a decimal point. What is the 3rd interest payment and the 3rd principle payment? Pmt 3 Beg Prin $1298.99 Int Pmt $ Prin Pmt $ End Prin $662.22
Lyon, Tigah, Barry, and Dorthe each borrow $3,500 and plan to pay it back over 2 years at 7% interest. 3. , What is the total interest that each one pays over the life of the loan if the interest...
Lyon, Tigah, Barry, and Dorthe each borrow $3,500 and plan to pay it back over 2 years at 7% interest. 3. , What is the total interest that each one pays over the life of the loan if the interest rate is compounded quarterly? [20] .Lyon pays back his loan in one payment at the end of 2 years. " Tigah pays back her loan with annual interes t payments and the principal payment at the end of 2 years....
You borrow money (take out a mortgage) to buy a house. You borrow $800,000 which you...
You borrow money (take out a mortgage) to buy a house. You borrow $800,000 which you will pay back with 10 equal payments made at the end of each of the next 10 years. The annual interest rate is 7 percent. Your first payment will be ____ principal payment, and _____ interest paid.
You plan to borrow $40,000 at a 6% annual interest rate. The terms require you to...
You plan to borrow $40,000 at a 6% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2?
9. You are offered an investment with a quoted annual interest rate of 6.75% with quarterly...
9. You are offered an investment with a quoted annual interest rate of 6.75% with quarterly compounding of interest. What is your effective annual interest rate? 10. You are offered an annuity that will pay $15,000 per year for 20 years (the first payment will occur one year from today). If you feel that the appropriate discount rate is 3%, what is the annuity worth to you today? 11. If you deposit $6,500 per year (each deposit is made at...
6. You would like to borrow $10,000 at an interest rate of 8 percent per year...
6. You would like to borrow $10,000 at an interest rate of 8 percent per year for five years. You agree to make interest and principal payments totaling $2,401.49 at the end of each year. Prepare a loan amortization schedule for each of the five years, showing the beginning principal balance, the total payment of $2,401.49, the interest component of the payment, the principal component of the payment, and the ending principal balance. a. Fill in the blank spaces in...
QUESTION 4 For 2a)2(c) using the following information You borrow $10.000 today with interest rate 7 and you plan to pay the bank back with equal annual payment. Let us assume the first payment happen at the end of each year. Principal beg. year Payment end year Interest Principal 2) how much is the annual payment? 1674.678 QUESTIONS You borrow $10,000 today with interest rate 7%, and you plan to pay the bank back with 8 equal annual payment 200)...
suppose you borrow $10,000 today ; and promise to pay
the loan back in 6 years with a total payment (principal plus
interest) of 15,092. what annual interest rate is the bank
charging? assume that compounding is annual.
uisst ydu do the homework omework is not timed. may view your answers and the correct answers after each atternpt. Note, however, that Canvas only shows t ct answers; it does not display the solution method nay use any of your course...
4. You are about to borrow $16,000 from a bank at an interest rate of 7% compounded annually. You are required to make five equal repayments in the amount of $3,500 per year, with the first repayment occurring at the end of year 1. a. Show the interest payment and principal payment in each year. b. How much is still owing at the end of year 5? c. What annual payments would be required to completely pay off the loan...
2-2 You borrow $20,000 at an annual interest rate of 8%. You will pay the loan back in two equal payments at the end of year 1 and year 4. a. Calculate the amount to be paid each year using the factor tables. b. Draw the fully labeled cash flow diagram. c. Complete the following table: BOY alanceamount BOY+Interest)Payment Interest Total Balance f) 3 4
Problem Statement: Suppose you borrow $ 2500 at 4% annual interest that you plan to repay in four equal annual payments. How much will the annual payment be? How much of each payment is interest? Solution: Include the decimal point if needed. Round to the hundredth of a decimal point. What is the 3rd interest payment and the 3rd principle payment? Pmt 3 Beg Prin $1298.99 Int Pmt $ Prin Pmt $ End Prin $662.22
Lyon, Tigah, Barry, and Dorthe each borrow $3,500 and plan to pay it back over 2 years at 7% interest. 3. , What is the total interest that each one pays over the life of the loan if the interest rate is compounded quarterly? [20] .Lyon pays back his loan in one payment at the end of 2 years. " Tigah pays back her loan with annual interes t payments and the principal payment at the end of 2 years....
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