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Harlan made equal payments at the end of each month into his RRSP. If interest in...
equal payments at the end of each month into his RRSP. If interest in his account...
equal payments at the end of each month into his RRSP. If interest in his account is 10.9% compounded semi annually nd the balance after eleveneleven years is $16,000 , what is the size of the monthly payment?
The debt is amortized by equal payments made at the end of each payment interval. Compute...
The debt is amortized by equal payments made at the end of each payment interval. Compute (a) the size of the periodic payments; (b) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated; and (d) the principal repaid by the payment following the time indicated for finding the outstanding principal. Debt Principal Repayment Period Payment Interval Interest Rate Conversion Period Outstanding Principal After: $14,000 6 years 6 months 10% semi-annually 7th...
The debt is amortized by equal payments made at the end of each payment interval. Compute...
The debt is amortized by equal payments made at the end of each payment interval. Compute (a) the size of the periodic payments; (b) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated; and (d) the principal repaid by the payment following the time indicated for finding the outstanding principal. Debt Principal Repayment Period Payment Interval Interest Rate Conversion Period Outstanding Principal After: $15,000 6 years 1 month 6% monthly 6th...
Please help thank you. A $87,000 mortgage is to be amortized by making monthly payments for...
Please help thank you.
A $87,000 mortgage is to be amortized by making monthly payments for 15 years. Interest is 8.1% compounded semi-annually for a seven-year term. (a) Compute the size of the monthly payment. (b) Determine the balance at the end of the seven-year term. (c) If the mortgage is renewed for a seven-year term at 7% compounded semi-annually, what is the size of the monthly payment for the renewal term? (a) The size of the monthly payment is...
The debt is amortized by equal payments made at the end of each payment interval Compute(a)...
The debt is amortized by equal payments made at the end of each payment interval Compute(a) the stre of the periodic payments) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated and (d) the principal repaid by the payment following the time indicated for finding the outstanding principal Debt Principal Repayment Payment Conversion Period Interest Rate Outstanding Interval Period Principal After $13,000 5 years 3 months quarterly 8th payment (a) The...
7. How much interest is included in the future value of an ordinary simple annuity of...
7. How much interest is included in the future value of an ordinary simple annuity of $1,350 paid every six months at 6% compounded semi-annually if the term of the annuity is 2 years? The interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 8. Glenn has made contributions of $250 at the end of every three months into an RRSP for ten years. Interest for...
Mr. Kinders has contributed $165.00 at the end of each three months into an RRSP paying...
Mr. Kinders has contributed $165.00 at the end of each three months into an RRSP paying 3% per annum compounded annually. How much will Mr. Kinders have in the RRSP after 12 years? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) How much of the above amount is interest? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as...
A $130,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a)...
A $130,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a) If interest is 5.22% compounded annually, what is the size of each monthly payment? (b) Find the total interest paid during the first year. (c) Compute the interest included in the 26th payment. (d) If the mortgage is renewed after five years at 4.10% compounded annually, what is the size of the monthly payment for the renewal period? (0) Construct a partial amortization schedule...
A contract can be fulfilled by making an immediate payment of $3825, or equal payments at...
A contract can be fulfilled by making an immediate payment of $3825, or equal payments at the end of every six months for 3 years. What is the size of the semi-annual payments at 11% per annum compounded quarterly? The semi-annual payments are $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after...
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after four years, and a final payment after six years. Interest is 5% compounded quarterly for the first two years, 6% compounded monthly for the next two years, and 6% compounded semi-annually thereafter. What is the size of the final payment? The final payment is $ 1. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
Please help thank you.
A $87,000 mortgage is to be amortized by making monthly payments for 15 years. Interest is 8.1% compounded semi-annually for a seven-year term. (a) Compute the size of the monthly payment. (b) Determine the balance at the end of the seven-year term. (c) If the mortgage is renewed for a seven-year term at 7% compounded semi-annually, what is the size of the monthly payment for the renewal term? (a) The size of the monthly payment is...
The debt is amortized by equal payments made at the end of each payment interval Compute(a) the stre of the periodic payments) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated and (d) the principal repaid by the payment following the time indicated for finding the outstanding principal Debt Principal Repayment Payment Conversion Period Interest Rate Outstanding Interval Period Principal After $13,000 5 years 3 months quarterly 8th payment (a) The...
7. How much interest is included in the future value of an ordinary simple annuity of $1,350 paid every six months at 6% compounded semi-annually if the term of the annuity is 2 years? The interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 8. Glenn has made contributions of $250 at the end of every three months into an RRSP for ten years. Interest for...
Mr. Kinders has contributed $165.00 at the end of each three months into an RRSP paying 3% per annum compounded annually. How much will Mr. Kinders have in the RRSP after 12 years? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) How much of the above amount is interest? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as...
A $130,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a) If interest is 5.22% compounded annually, what is the size of each monthly payment? (b) Find the total interest paid during the first year. (c) Compute the interest included in the 26th payment. (d) If the mortgage is renewed after five years at 4.10% compounded annually, what is the size of the monthly payment for the renewal period? (0) Construct a partial amortization schedule...
A contract can be fulfilled by making an immediate payment of $3825, or equal payments at the end of every six months for 3 years. What is the size of the semi-annual payments at 11% per annum compounded quarterly? The semi-annual payments are $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after four years, and a final payment after six years. Interest is 5% compounded quarterly for the first two years, 6% compounded monthly for the next two years, and 6% compounded semi-annually thereafter. What is the size of the final payment? The final payment is $ 1. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
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