A loan of $16,525 at 10.8% compounded monthly is to be paid off by equal monthly...
how long will it take to pay off a loan of $53,000 at an annual rate of 8 percent compounded monthly if you make monthly payments of $650? Use five decimal places for the monthly percentage rate in your calculations
1-determine how much of the loan will be paid off by the final
ballon payment
2-how much loan must be paid off by the monthly payment
3-the monthly payments needed to pay off the portion of the
loan that is not paid off by the final balloon payment
(Complex stream of cash flows) Roger Sterling has decided to buy an ad agency and is going to finance the purchase with seller financing that is, a loan from the current owners...
How long will it take to pay off a loan of $46 comma 000 at an annual rate of 12% compounded monthly if you make monthly payments of $800 (round up)? To pay off the loan, it will take approximately nothing years. (Round up to the nearest integer.)
How many months will it take you to pay off a loan of $20,000 at 5% APR compounded monthly if you make monthly payments of $825?
How many months will it take you to pay off a loan of $19,000 at 5% APR compounded monthly if you make monthly payments of $925?
A $33,950 loan at 10.6% compounded semi-annually is to be paid off by a series of $4,000 payments that will be made at the end of every six months. How much of the first payment will be credited towards reduction of the principal?
5. A college student borrows $1500 during her senior year. The loan is to be paid pack in equal monthly payments starting three years after the loan is established (interest accumulates during the grace period). The APR is 2.8% compounded monthly. How much should she expect to pay per month if she only wants to have to make payments for 2 years? 6. Mary has a credit card balance of $4,300 at an APR of 12% compounded monthly. Mary has...
Your firm has taken out a $ 483,000 loan with 8.8 % APR (compounded monthly) for some commercial property. As is common in commercial real estate, the loan is a 5-year loan based on a 15-year amortization. This means that your loan payments will be calculated as if you will take 15years to pay off the loan, but you actually must do so in 5years. To do this, you will make 59 equal payments based on the 15-year amortization schedule...
How long will it take to pay off a loan of $51 comma 000 at an annual rate of 9 percent compounded monthly if you make monthly payments of $800? Use five decimal places for the monthly percentage rate in your calculations. The number of years it takes to pay off the loan is nothing years. (Round to one decimal place.)
How long will it take to pay off a loan of $50 comma 00050,000 at an annual rate of 99 percent compounded monthly if you make monthly payments of $600600? Use five decimal places for the monthly percentage rate in your calculations. The number of years it takes to pay off the loan is nothing years. (Round to one decimal place.)