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Question 18 (1 point) How much interest will you pay on a loan of $15 500...
How much interest will you pay on a loan of $11 comma 00011,000 if you are...
How much interest will you pay on a loan of $11 comma 00011,000 if you are paying the loan off in 66 months and your loan rate is 44 percent? (Round to the nearest dollar.) A. $220220 B. $165165 C. $540540 D. $110
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the loan? 2. How much will the library owner pay...
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the loan? 2. How much will the library owner pay you at the end of 5 years?
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the...
1 1 point) How much interest in total would you have paid on the car loan...
1 1 point) How much interest in total would you have paid on the car loan in the question above through the first 24 months? O 1) 1,779 O2) 2,661 O 3) 2,952 O4) 3,113 O 5) 3,199 If you bought a new car for $31,000, to be repaid over 72 months at 5% interest compounded monthly, how much would you still owe after 24 months? (Payments and interest are in months). 01) 20,811 O2) 24,053 O 3) 21,679 4)...
B c D E F G H $ $ 400,000.00 Original Loan 4.50% APR Interest Rate...
B c D E F G H $ $ 400,000.00 Original Loan 4.50% APR Interest Rate 30 Term in Years HARDCODE ANSWERS How many months does it take to pay off the loan? Please Review Month Outstanding Principal USE ONLY FORMULAS IN THIS CHART Interest Principal Total Payment Additional Principal 1 What is the total payments paid over the loan? 2 3 Please Review 4 What is the total interest paid over the loan? Please Review 5 6 7 How...
Suppose you have $250,000 of loan. The terms of the loan are that the yearly interest...
Suppose you have $250,000 of loan. The terms of the loan are that the yearly interest is 6% compounded quarterly. You are to make equal quarterly payments of such magnitude as to repay this loan over 30 years. (Keep all your answers to 2 decimal places, e.g. XX.12.) (a) How much are the quarterly payments? Ans: 4504.63 (b) After 5 years' payments, what principal remains to be paid? Ans: 232550.19 (c) How much interest is paid in the first quarter of...
8. You purchased a new car for sis,000. The dealer offers you an interest rate of 5% over years. ...
8. You purchased a new car for sis,000. The dealer offers you an interest rate of 5% over years. a) What would your monthly payment be? b) Suppose you would like to save interest by paying the loan off in 3 years. How much more a ma would you need to pay? c) What would the effective interest rate be if you paid off the car in 3 years? 9. Sketch the annual cash flow diagrams for each case in...
You will be making quarterly payments on your $10,000 loan. The interest rate is 8%. How...
You will be making quarterly payments on your $10,000 loan. The interest rate is 8%. How much are your payments if you plan on paying off the loan in 5 years? Using excel
An investor borrowed 2000 PLN. The loan was for 6 months at 24% annual interest (compound...
An investor borrowed 2000 PLN. The loan was for 6 months at 24% annual interest (compound interest rate). Create a loan amortization schedule if a) since the fourth month the annual interest is 18%, b) the investor doesn’t pay the fourth payment but he pays it plus interest with the fifth payment, c) the first payment is postponed for two months, d) the investor pays two payments, than he doesn’t pay for 3 months. The investor begins to pay off...
A. What would be your monthly mortgage payment if you pay for a $250,000
4. A. What would be your monthly mortgage payment if you pay for a $250,000 home by making a 20% down payment and then take out a 3.74% thirty year fixed rate mortgage loan where interest is compounded monthly to cover the remaining balance. All work must be shown justifying the following answers. Mortgage payment = B. How much total interest would you have to pay over the entire life of the loan. Total interest paid = C. Suppose you inherit some money and...
You borrow $5000 to help pay your college expenses. You agree to repay the loan at...
You borrow $5000 to help pay your college expenses. You agree to repay the loan at the end of 5 years at 9% interest, compounded monthly. (Round your answers to two decimal places.) (a) What is the maturity value of the loan? $ (b) How much interest are you paying on the loan?
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the loan? 2. How much will the library owner pay you at the end of 5 years?
You have agreed to loan the owner of a library $5000 for 5 years at a simple interest rate of 8% per year. 1. How much interest will you receive from the...
1 1 point) How much interest in total would you have paid on the car loan in the question above through the first 24 months? O 1) 1,779 O2) 2,661 O 3) 2,952 O4) 3,113 O 5) 3,199 If you bought a new car for $31,000, to be repaid over 72 months at 5% interest compounded monthly, how much would you still owe after 24 months? (Payments and interest are in months). 01) 20,811 O2) 24,053 O 3) 21,679 4)...
B c D E F G H $ $ 400,000.00 Original Loan 4.50% APR Interest Rate 30 Term in Years HARDCODE ANSWERS How many months does it take to pay off the loan? Please Review Month Outstanding Principal USE ONLY FORMULAS IN THIS CHART Interest Principal Total Payment Additional Principal 1 What is the total payments paid over the loan? 2 3 Please Review 4 What is the total interest paid over the loan? Please Review 5 6 7 How...
8. You purchased a new car for sis,000. The dealer offers you an interest rate of 5% over years. a) What would your monthly payment be? b) Suppose you would like to save interest by paying the loan off in 3 years. How much more a ma would you need to pay? c) What would the effective interest rate be if you paid off the car in 3 years? 9. Sketch the annual cash flow diagrams for each case in...
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