Compute the new balance of a loan after one monthly payment. Assume that the balance at the beginning of the period was $69,535. The monthly payment is $1000. The annual interest rate is 4%.
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Compute the new balance of a loan after one monthly payment. Assume that the balance at...
I need to know the monthly payment, and balance
Find the monthly payment and estimate the remaining balance. Assume interest is on the unpaid balance. 4-year computer loan for $2270 at 7.4%; remaining balance after 2 years. The monthly payment is $ (Round to the nearest cent as needed.)
Use the PMT function in Excel to compute the monthly payment on a $328000 business loan at an annual interest rate of 7.15% over 20 years, where the interest is compounded monthly. Hint: The PMT (Payment) function is entered in Excel as =PMT(Rate, Nper, Pv, Fv, Type) Fv and Type are not necessary. Ignore them. Enter the amount of your monthly payment below. Do not include the dollar sign ($)
What is the balance on a $99000 loan monthly payment 30-year loan at 55% after paying on the loan for 8 years Your Answer
Total Loan amount: The total mortgage loan amount is the amount you borrow after paying your down payment. Here, we assumed that you would pay 20% of the home value (property value) as a down payment. 2. Months: The mortgage payment period is set to 30 years. In terms of months, this is equivalent to 30 years multiplied by 12 months. We put our primary basis of payments in terms of months, which is why we need to convert everything...
consider a constant payment “interest only” mortgage loan. the loan balance is L with the annual interest rate of r for t years. calculate the monthly payment
consider a constant payment “interest only” mortgage loan. the loan balance is L with the annual interest rate of r for t years. calculate the monthly payment
Find the monthly payment and estimate the remaining balance (to the nearest dollar). Assume interest is on the unpaid balance. 4-year car loan for $8100 at 2.97%; remaining balance after 3 years. a) $1081.32; $1956 b) $538.79; $2050 c) $179.18; $4170 d) $179.18; $2116
This worksheet will compute the monthly value of an amortized loan for 36 months. This will be a worksheet in which the loan value or principal, interest rate, and monthly payment can be changed and the worksheet will automatically update. Within the worksheet there will be some absolute cell referencing that is needed and some relative cell referencing that is needed. You will need to determine which is appropriate. Title the worksheet "Amortization of Car Loan" in cell A1. Leave...
5) A loan is being repaid by 2n level payments (with the first payment 1 period after the start of the loan) at an effective interest rate of j per period. Just after the nth payment, the outstanding balance on the loan is 3/4 of the initial outstanding balance on the loan. a) Find vj". b) What is the ratio of interest to principal reduction in the n+1st payment? (i.e In+1/PR.n+1)
Construct a Loan Amortization Schedule Question Consider the following monthly amortization schedule: Payment # Payment Debt Payment Balance Interest 1 1, 167.34 259,873.20 540.54 626.80 2 1, 167.34 539.24 628.10 259, 245.10 3 1, 167.34 With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan. Give your answer to the nearest hundredth percent. Do not include the % sign in your response. Provide your answer below
Construct a Loan Amortization Schedule...