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4. A borrower repay amortization method for 10 years. The nominal rate is 12% convertible semiannually....
answer :4.78740% please no excel or actuarial calculator 4) A twenty-year loan of $25,000 is negotiated with the borrower agreeing to repay principal and interest at 5%. A level payment of $ 1 ,500 will apply during the first ten years, and a higher level payment will apply over the remaining ten years. Each time the lender receives a payment from the borrower, he will deposit the portion representing principal into a sinking fund with an annual effective interest rate...
Alex loans Nomar $100,000 at a rate of 12% nominal interest convertible quarterly. They agree that Nomar will repay the loan by making quarterly payments. These payments will each be $23,000 except for the last payment which will be a balloon payment. Find the amount of the balloon payment. (Round your answer to the nearest cent.)
A twenty-year loan of $25000 is negotiated with the borrower agreeing to repay principal and interest at 5%. A level payment of $1500 will apply during the first ten years, and a higher level payment will apply over the remaining ten years. Each time the lender receives a payment from the borrower, he will deposit the portion representing principal into a sinking fund with an annual effective interest rate of 4%. (This is the amount for replacement capital). What is...
John takes out a 50 000 mortgage on a home at 12 72 % convertible semiannually. He pays off the mortgage with monthly payments for 20 years, the first one due one month after the mortgage is taken out. Immediately after his 60th payment, John renegotiates the loan. He agrees to repay the remainder of the mortgage by making immediate cash payments of 10 000 and repaying the balance by means of monthly payments for ten years at 11% convertible...
Ramon is approved for a 8 year loan of 45,000 at nominal rate of interest convertible semiannually of 8.2432 percent. He will be making monthly payments at the end of each month. a. What is his monthly payment?
can somebody help me with 37,38 and (most needed) 40 please??? 200 The theory of interest 36. A loan is being repaid with 10 payments. The first payment is 10, the second 9, d so forth with the tenth payment being 1. Show that the amount of interest in te sixth payment is 5- ag- 37. A loan is repaid with payments which start at $200 the first year and increase by $0 per year until a payment of $1000...
should be explain it on excel Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (10 pts) (a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. What initial principal will this repay? (b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year. 1. What initial principal will this repay? (c) Assume monthly car...
answer :4.78740% please no excel or actuarial calculator 4) A twenty-year loan of $25,000 is negotiated with the borrower agreeing to repay principal and interest at 5%. A level payment of $ 1 ,500 will apply during the first ten years, and a higher level payment will apply over the remaining ten years. Each time the lender receives a payment from the borrower, he will deposit the portion representing principal into a sinking fund with an annual effective interest rate...
A bank customer takes out a loan of 500 with a 16% nominal interest rate convertible quarterly. The customer makes payments of 20 at the end of each quarter. Calculate the amount of principal in the fourth payment. There is not enough information to calculate the amount of principal.
Problem 1 (Required, 25 marks) A borrower has borrowed $2000000 from the bank. It is given that the loan charges interest at an annual effective interest rate 16.0755% and compound interest is assumed. (a) Suppose that the borrower decides to repay the loan by 180 monthly payments made at the end of every month, (i) Using retrospective method, calculate the outstanding balance at 60th repayment date. (ii) Calculate the interest due and principal repaid in 120th repayment. (b) Suppose that...