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DQuestion 6 1 pts Compute the interest on a 9-year loan for $18042 if the annual...
DQuestion 4 1 pts What will be the mortgage balance remaining on a loan of $ 227993 with a 33-year term monthly compounding) and k 0.055 after 24 end-of-month payments have been made? Round your final answer to 2 decimal places. DQuestion 5 1 pts Obtain the total interest paid during the last ten years of a $ 528397 mortgage when n- 20 and k-0.076, assuming monthly compounding (end of month payments) Round your final answer to 2 decimal places.
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.)
Compute the 10-year future value of a $14,120 loan if the annual interest rate is 3.4% with weekly compounding.
Consider a 30 year loan for $129508 at an annual interest rate of 8%. If payments are made yearly, how many dollars of the 16th payment will go toward interest? Round your answer to the nearest dollar.
6. Calculating simple interest and APR on a single-payment loan Aa Aa E You are taking out a single-payment loan that uses the simple interest method to compute the finance charge. You need to figure out what your payment will be when the loan comes due. The equation to calculate the finance charge is: In the equation, Fs is the finance charge for the loan. What are the other values? P is the r is the stated t is the...
Loan interest For the loan amount, interest rate, annual payment, and loan term shown in the following table, calculate the annual interest paid each year over the term of the loan, assuming that the payments are made at the end of each year. Amount Interest rate $27,0009 % Annual payment $8,334.05 Term 4 years The portion of the payment that is applied to interest in year 1 is $2430. (Round to the nearest cent.) The portion of the payment that...
Compute the future value in year 9 of a $2,742 deposit in year 1, and another $4,960 deposit at the end of year 4 using an 10 percent interest rate. DO NOT USE DOLLAR SIGNS OR COMMAS IN YOUR ANSWER. ROUND ANSWER TO THE NEAREST DOLLAR.
Compute the future value in year 9 of a $2,742 deposit in year 1, and another $4,960 deposit at the end of year 4 using an 10 percent interest rate. DO NOT USE DOLLAR SIGNS OR COMMAS IN YOUR ANSWER. ROUND ANSWER TO THE NEAREST DOLLAR.
Compute the 72-month future value of a $14,468 loan if the annual interest rate is 4.1% with monthly compounding.
Problem 2 If a loan is taken with total annual payments of $10,000/year for 10 years, compare the accumulated interest at the end of the 10 years if the payments are (1) made at the end of each year with discrete yearly interest compounding, (2) made at the end of each week with weekly discrete compounded interest and (3) made continuously with continuous interest compounding. The nominal interest rate, r, is 8%. For (3), the annual payments are assumed to...