Instructor-created question Question Help A student takes out a loan of $2,600 at the beginning of...
A student takes out a loan of $2000 at the beginning of each semester (semi-annually) for 11 semesters to pay for college. The loan charges 4.4% interest compounded semiannually. The student graduates after the 11 semesters and refinances the loan to a lower 3.7% rate compounded monthly with monthly payments (made at the end of each month) for 120 months. Find the monthly payment and the total interest paid.
5.4.41-BE Question Help A student borrows $65,700 at 4.8% compounded monthly. Find the monthly payment and total interest paid over a 25 year payment plan. The payment size is $O (Round to the nearest cent as needed.) hav and then click Check Answer.
Lois received a 9-year subsidized student loan of $35,000 at an annual interest rate of 5.875%. Determine her monthly payment on the loan after she graduates in 3 years. (Round your answer to the nearest cent.) Lois received a 9-year subsidized student loan of $35,000 at an annual interest rate of 5.875%. Determine her monthly payment on the loan after she graduates in 3 years. (Round your answer to the nearest cent.)
Find the payment necessary to amortize a 4.9% loan of $7300 compounded semiannually, with 6 semiannual payments. Find (a) the payment necessary to amortize the loan and (b) the total payments and the total amount of interest paid based on the calculated semiannual payments. Then create an amortization table to find (c) the total payments and total amount of interest paid based upon the amortization table a. The semiannual payment needed to amortize this loan is $ (Round to the...
Consider a student loan of $17,500 at a fixed APR of 9% for 5 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. . (Do not round until the final answer. Then round to the nearest cent as needed.)
Consider a student loan of $17,500 at a fixed APR of 12% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. (Do not round until the final answer. Then round to the nearest cent as needed.)
Suppose you have a student loan of $50000 with an APR of 12% for 40 years. a. What are your required monthly payments? The required monthly payment is $ ___ (Do not round until the final answer. Then round to the nearest cent as needed.) If paid off in 20 years? The percentage of the total paid that is interest is ?
Find the monthly payment needed to amortize a typical $115,000 mortgage loan amortized over 30 years at an annual interest rate of 5.3% compounded monthly. (Round your answers to the nearest cent.) $ Find the total interest paid on the loan. $
Find the monthly payment needed to amortize a typical $205,000 mortgage loan amortized over 30 years at an annual interest rate of 7.1% compounded monthly. (Round your answers to the nearest cent.) a) $ b) Find the total interest paid on the loan. $
Instructor-created question Question Help * A friend of yours bought a new sports car with a S4.000 down payment plus a $27,000 car loan that is financed at an interest rate of 0.50% per month for 60 months. After 2 years, the "Blue Book value of her vehicle in the used-car marketplace is $16,000 a. Calculate the required monthly loan payment on the car b. How much does your friend still owe on the car loan c. Compare your answer...