A borrower had a loan of $ 70,000.00 at 6 % compounded annually comma with 10 annual payments. Suppose the borrower paid off the loan after 5 years. Calculate the amount needed to pay off the loan. The amount needed to pay off this loan after 5 years is?
A borrower had a loan of $ 70,000.00 at 6 % compounded annually comma with 10...
A borrower had a loan of $30,000.00 at 5% compounded annually, with 7 annual payments. Suppose the borrower paid off the loan after 4 years. Calculate the amount needed to pay off the loan. The amount needed to pay off this loan after 4 years is $ (Round to the nearest cent as needed.)
A borrower had a loan of 500 000 0045 compounded annually, with annual payments Suppose the borrower paid off the loan after 4 years Calculate the amount needed to pay of the loan The amount needed to pay of this loon after 4 years is (Round to the nearest cont as needed)
Please show the steps to calculate X 5.3.17 A borrower had a loan of $10,000.00 at 6% compounded annually, with 9 annual payments. Suppose the borrower paid off the loan after 5 years. Calculate the amount needed to pay off the loan. The amount needed to pay off this loan after 5 years is $. (Round to the nearest cent as needed.)
A borrower takes out a 10-year loan of 1000 at 8% compounded quarterly. The borrower makes quarterly payments. Calculate the amount of principal paid in the ninth payment.
Lionel obtained a business loan of $310,000 at 5.29% compounded semi-annually. a. What was the size of the semi-annual payments to be made over 20 years in order to pay off the loan? b. Calculate the interest paid on the loan.
The interest rate charged on a loan of $85,000 is 7.75% compounded annually. If the loan is to be paid off over seven years, calculate the size of the annual payments. O $1,314 O $17,492 O $16,187 O $9,599 $13,084
*** Blacked out part is 17,000. Please show steps using logs. Thank you. The payment necessary to amortize a 5.4% loan of $71,000 compounded annually, with 5 annual payments is $16,580.96. The total of the payments is $82,904.80 with a total interest payment of $11,904.80. The borrower made larger payments of Calculate (a) the time needed to pay off the loan, (b) the total amount of the payments, and (c) the amount of interest saved a. The time needed to...
RM60,000 is borrowed for 12 years at 5% compounded annually. The borrower does not pay interest currently and will pay all accrued interest at the end of 12 years together with the principal. (a) Find the amount annual sinking fund deposit necessary to liquidate the loan at the end of 12 years if the sinking fund earns 3% yearly compounding and the borrower make first payment immediately. (b) Prepared a sinking fund schedule. Ans: (a) RM 7,371.25 (PLS DUN ANSWER...
How long will it take to pay off a loan of $46 comma 000 at an annual rate of 12% compounded monthly if you make monthly payments of $800 (round up)? To pay off the loan, it will take approximately nothing years. (Round up to the nearest integer.)
1) Carlos has borrowed $8,000 for 8 years at 6% compounded semi-annually. He will repay interest every 6 months plus principal at maturity. He will also deposit X every 6 months into a sinking fund paying 5% compounded semi-annually to pay off the principal at maturity. a) Find X. Carlos goes bankrupt at the end of year 6, just after making his interest payment and sinking fund deposit. The bank confiscates the money in the sinking fund but gets no...