Which of the following will calculate the monthly payment on a 20,000 loan for 5 years at 4% interest.
a. =PMT(.05/12,5*12,20000)
b. =PMT(5*12,0.05/12,20000)
c. =PMT(.05,5,20000)
d. None of the above
Which of the following will calculate the monthly payment on a 20,000 loan for 5 years...
Calculate the monthly loan payment (MP) given a 6 %, 5 years with monthly compounding. The loan is for $125,500. a. Calculate MP (ordinary annuity): b. Calculate the Loan Balance after 3.5 years: c. Calculate the MP as an annuity due:
Amoritization (a) Calculate the monthly payment for a car loan of $23,600.00 at an annual interest rate of 7.75% to be paid off in 5 years. (b) Calculate the monthly payment for a mortgage of $273,486.00 at an annual interest rate of 3.49% to be paid off in 15 years. (c) Calculate the monthly payment for a personal loan of $39,232.00 at an annual interest rate of 12.99% to be paid off in 3 years
A thirty year monthly payment mortgage loan for 500,000 is offered at a nominal rate of 8.4% convertible monthly. Find thea) Monthly payment,b) The total principal and interest that would be paid on the loan over 30 years c) The balance in 5 years andd) The principal and interest paid over the first 5 years.
Use the PMT function in Excel to compute the monthly payment on a $328000 business loan at an annual interest rate of 7.15% over 20 years, where the interest is compounded monthly. Hint: The PMT (Payment) function is entered in Excel as =PMT(Rate, Nper, Pv, Fv, Type) Fv and Type are not necessary. Ignore them. Enter the amount of your monthly payment below. Do not include the dollar sign ($)
• 1) A new car is purchased and a $20,000 loan is taken. The loan is for 5 years (60 months) and the interest rate is 7.9% compounded monthly. What is the monthly payment? • 2)A new car is purchased and a $20,000 loan is taken. The loan is for 5 years (60 months) and the interest rate is 7.9% compounded monthly. What is the balance after 3 years? . 3) A new car is purchased and a $30,000 loan...
In C. Thank you!
Bank
Write a
program to calculate the monthly payment on a loan given the loan
amount, interest rate and the number of years to pay off the loan.
Then add a function to print an amortization schedule for that
loan. Create a class to save the current balance and the rest of
the data as private data. Add member functions to make a payment
and to print the amortization report.
Use the following class header. Class...
Jared borrowed $20,000 with a promise to repay the loan in 6 years with a uniform monthly payment and a single payment of $2,000 at the end of six years at a nominal interest rate of 12% per year.A) What is the amount of each payment? B) What is the amount of interest paid in the first payment? C) What will be the loan balance immediately after the 48th payment? D) What is semi annually effective interest rate?
A thirty year monthly payment mortgage loan for 500,000 is offered at a nominal rate of 8.4% convertible monthly. Find the a) monthly payment, b) the total principal and interest that would be paid on the loan over 30 years c) the balance in 5 years and d) the principal and interest paid over the first 5 years.
Using the following information, what is the cost to buy a car? Down payment $2000 Monthly loan payment ($300 per month for a 5-year loan) Opportunity cost of down payment ($2000 x loan period (in years) x 2 % interest) Estimated value of vehicle at end of ownership period ($2,000) Select one: a. $18,000 b. $20,000 c. $18,200 d. $20,200 Using the following information, what is the cost to lease a car? . Security deposit $250 Monthly lease payment ($300...
5)Calculate the monthly mortgage payment for the following two scenarios. A. $200,000 loan for 15 years at 3%. B. $400,000 loan for 30 years at 4%. 6) An executive wants to take out $50,000 from her retirement account at the beginning of each year that she is retired. She estimates her account will earn 3% during retirement and she will need to be able to withdraw the funds each year for 25 years. How much money will the executive need...