GF510_Unit 2 Assignment 1_Andrews, Tradawnya

Part III: Loan comparison Consider the following loan information. term loan A 180 loan B 180 months amt $375,000 $375,000 rate 6.0% 7.0% points 3% 1% prepay 2% 1% 7. Calculate the loan payments and APR for each loan. 8 Create a spreadsheet & chart which compares the effective cost of borrowing (EBC) under Loan A vs. Loan B for each year of loan repayment.

MMA MATHEMATICAL ASSOCIATION OF AMERICA Simple and Compound Interest / 5 Previous Problem Problem List Next Problem HW 20 Simple and Compound Interest: Problem 5 (5 points) Consider a $700 T-bill calculated as a simple discount loan. The annual simple discount rate is 2% and the length is set to be 13 months. Find the price of the T-bill, the interest earned, and the simple interest rate paid on the bill. Price of the T-bill= dollars. Total interest earned when $700 T-bill is redeemed = dollars. Simple interest rate earned = percent (round to 2 decimal places). Note: You can earn partial credit on this problem. Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining. Page generated at 05/04/2024 at 02:46pm EDT WeBWorK 1996-2022 theme: math4-green | www.version: 2.17 Pg version 2.17 | The WaßWork Project

Vijay

Problem 5-63 Effective Interest Rate (LO4) Assume you take out a car loan of $7,700 that calls for 60 monthly payments of $210 each. a. What is the APR of the loan? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Use a financial calculator or Excel. Annual percentage rate % b. What is the effective annual interest rate on the loan? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Effective annual rate %

CENGAGE MINDTAP Ch 07: Assignment - Using Consumer Loans You're borrowing $6,000 for a year and a half with a stated annual interest rate of 6%. Complete the following table. (Note: Round your answers to the nearest dollar.) Principal Finance charges Loan disbursement $ Total payback APR = Annual Percentage Rate (APR) You also want to calculate the APR (annual percentage rate) and compare it to the stated interest rate. APR $6,000 First, compute the average annual finance charge by dividing the total finance charge of $ (Note: Round your answers to the nearest dollar.) half (1.5 years): = $ = $ Average Annual Finance Charge Average Loan Balance Outstanding = Next, as a single-payment loan, the average loan balance outstanding is constant at the loan disbursement $ Complete the calculation. (Note: Round your answers to the nearest dollar and your percentage point to the nearest two decimal places.) Average Annual Finance Charge / Average Loan Balance Outstanding by the life of the loan,…

I NEED FORMULAS FOR EXCEL  PLZ ANSWER ALL PARTS

Problem 11 Consider the following information about two alternative credit strategies: Refused Credit Price per unit Cost per unit Grant Credit P75 P71 P32 P33 Quantity sold per quarter Probability of payment 6,200 6,900 1.0 .90 The higher cost per unit reflects the expense associated with credit orders, and the higher price per unit reflects the existence of a cash discount. The credit period will be 90 days, and the cost of debt is .75 percent per month. Required: Based on this information, should credit be granted? a. b. In (a), what does the credit price per unit have to be a break even? c. In (a), suppose we can obtain a credit report for P1.50 per customer. Assuming that each customer buys one unit and that the credit report correctly identifies all customers who will not pay, should credit be extended?

ellook Chapter 7 Financial Planning Exercise 9 Calculating interest and APR of installment loan Assuming that interest is the only finance charge, how much interest would be paid on a $3,000 installment loan to be repaid in 36 monthly installments of $99.647 Round the answer to the nearest cent. S What is the APR on this loan? Round the answer to 2 decimal places. Grade it Now Save & Continue Contineithout causing

Finance question thanks

Y2

Hello Can you show how to calculate the compensating balance requirement? In my solution guide i have this: 76/953 = 7.975% My question: Why do we devide 76/953 and not say 1076/953 to calulate the effective annual cost?

Need answer the financial accounting question

View History Bookmarks Window Help 門 0 mortized Loans - 21516 MAT142 Topics In College Math DERIVITA Tiana Klughart SA Sarah negotiated a price of $25,280.00 for a new Toyota Camry Hybrid Sedan. She is prepared to give a down payment of 17%. Her credit union offered her a 7-year amortized loan for the remaining amount at a rate of 1.95%. How much money will be paid in interest? What will the monthly payment be? SA How much will the car cost, in total? $ $ D If she got a simple interest loan at the same interest rate and time, how much would she pay in interest? Holalalalalalal D2L 5.3 Amortized Loans - 21516 MAT142 Topics In College Math 7 a d2l.pima.edu #0 3D 5 MAT Chapter 5.3 Question 2 o > **** 100 (

Question content area top Part 1 Compute the monthly payments for a vehicle that costs ​$14 comma 10014,100 if you financed the entire purchase over 44 years at an annual interest rate of 6.256.25 percent.​ Also, calculate the loan payments assuming rates of 5.255.25 percent and 7.257.25 percent. Compare the total amount spent on the vehicle under each assumption.   ​Note: Round intermediate computations to at least five​ (5) decimal places. Click on the table icon to view the Monthly Installment Loan Payment Factor​ (MILPF) table: LOADING... .       Question content area bottom Part 1 The monthly payments for a vehicle that costs ​$14 comma 10014,100 if you financed the entire purchase over 44 years at an annual interest rate of 6.256.25​% is ​$332.76332.76. ​(Round to the nearest​ cent.) Part 2 The total amount spent on the vehicle if financed for 44 years at an annual rate of 6.256.25​% is ​$15972.4815972.48. ​(Round to the nearest​ cent.) Part 3 The monthly payments for a…

Problem 25-7 (LG 25-4) Assume an Fl originates a pool of short-term real estate loans worth $39 million with maturities of five years and paying interest rates of 7 percent (paid annually). The loans are amortized. a. What is the average payment received by the FI (both principal and interest) if no prepayment is expected over the life of the loans? b. If the loans are converted into real estate certificates and the Fl charges a 150 basis points servicing fee (including insurance), what are the payments expected by the holders of the securities, if no prepayment is expected? (For all requirements, enter your answers in dollars not in millions. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) × Answer is complete but not entirely correct. Average payment $ 9,511,737 b. Average payment $ 9,369,061 (X)

dis 6 finance

Need General Accounting Question Solution

Problem 7 Problem 8 Problem 9 Problem 10 webwork / mat110e_oncampus_f/ finance.set.3 / 9 Finance.set.3: Problem 9 Previous Problem Problem List Next Problem Complete the first three lines of an amortization schedule for the following loan: You borrow $ 14000 with an annual interest rate of 12% over 9 years Starting principal = $ 14000 %3D Principal after month 1 payment = %3D Principal after month 2 payment = Principal after month 3 payment = %3D

Financial accounting question

Module 2.6: Understandin... Question Calculate the total cost of a 15-year, $20,000 student loan at an interest rate of 4.5% per year compounded monthly. Round to the nearest dollar. CURRENT OBJECTIVE Evaluate student loan options Provide your answer below: @ W S 3 e d C $ 4 r f 0 % 5 t A 6 Oll y h & 7 FEEDBACK J * 8 j Von b MORE INSTRUCTION m ( 9 k O O SUBMIT P

ST Unit 8 Quest (11U) + pQLSf8ziezOsWz6j9T7OGVQSHI-6ls9bQrlQevfkKxle-RtQ3Rlg/formResponse Question 6: How much was the amount of the original loan? Regular Payment Rate of Compound Interest per Year Compounding Period semi-annual $1575 every 6 months 5.4% $8445.09 $17076.01 a. b. $14 444.94 $24 143.61 a b C. d. Time 6 years

pls. show me the solutions for 3,4,5,6 thankiesss

QUESTION 6 You have a 7-year loan of $80,000. The borrower will pay $8,500 at the end of Year 1, $9,500 at the end of Year 2, and $7,500 at the end of Year 3, plus X at the end of each year from Year 4 through Year 7. X is the fixed but unspecified cash flow. The loan's rate is 9%. What is X? O $22,3617.01 O $21,954.25 $23,350.31 O $19,411.02

PTER 5 Time Valkus of Money 255 nat Finance Problem P5-23 Calculating the number of periods You want to borow $600,000 to buy an apart- ment, and you can only afford $4,000 a month to repay the loan. Suppose the bank charges you a fixed interest rate of 4% with monthly compounding, How long will it take you to pay off the loan? Personal Finance Problem P5-24 Funding your