L5 - 12.1 Amortization - Final Payment

#2 Ordinary Annuity  2. A P35,000 debt is to be paid off in eight equal yearly payments, each combining an amortization installment and interest at 10% compounded quarterly. What should be the amount of each payment? (Use the given formula in the image below)

Consider a loan of $8,000 charging interest at j12-6% with monthly payments of $321.50 Calculate the missing amounts in the amortization table. Place the value for A in the first answer box, B in the second and C in the third. PMT Interest Principall Balance 8,000.00 1321.50 40.00 281.50 7,718.50 2 321.50 A C

fill the payment necessary to amortize the loan  $10,500, 12% compound monthly , 48 monthly payment  Answer : 276.50

This Test: 15 pts pos: A loan of $16,000 with interest at 10% compounded semi-annually is repaid in 9 years by equal payments made at the end of each 1 month. (a) What is the size of the periodic payment? (b) Construct an amortization schedule showing the details of the last three payments. (c) What is the total paid and the total interest? (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) Complete the table below for the last three payments in the schedule, starting with the third-to-last payment. (Round to the nearest cent as needed.) Payment Number Amount Paid Interest Paid Principal Repaid Outstanding Principal Balance %24 %24 $4 2$. $4 $0 (c) Total Paid = $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Interest Paid = $ (Round the final answer to the nearest cent as needed. Round all intermediate…

+II MI A loan of $14,800 is to be amortized with quarterly payments over 7 years. If the interest on the loan is 8% per year, paid on the unpaid balance, answer the following questions. a. What is the interest rate charged each quarter on the unpaid balance? b. How many payments are made to repay the loan? c. What payment is required quarterly to amortize the loan? a. The interest rate each quarter is %. 2 uide tents access Enter your answer in the answer box and then click Check Answer. Success 2 parts remaining Clear All Check Answer edia Library ase Options SO Type here to search 近 L. PrtSc Delete Esc 同回 F10 +D F5 F7 F8 F11 F12 区 6 F2 F4 & %23 $ 2 7 5. 6 3. 4. R. P. C A G K 7. B. Alt Ctrl Alt Home

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QUESTION 7 A bank makes a 30 year Fully Amortizing FRM for $2,000,000 at an annual interest rate of 4.125% compounded monthly, with monthly payments.Suppose inflation is 2% per year, compounded monthly. What is the real value of the 20th payment? O A. $9,375.48 O B. $9,050.06 OC. $9,692.99 OD. $6,523.11

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H3. A loan of $18430 is to be repaid at 4% effective by payments of $1500 at the end of each year for as long as possible and an additional smaller payment X made one year after the last full payment. Calculate X. A 367.68 B 369.17 C 358.25 D 353.54 E 376.99    Please show proper step by step calculation

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Amortization schedule                       Loan amount to be repaid (PV) $25,000.00         Interest rate  (r) 11.00%         Length of loan (in years) 3                     a.  Setting up amortization table   Formula       Calculation of loan payment   #N/A                   Year Beginning Balance Payment Interest Repayment of Principal Remaining Balance 1           2           3                       b.  Calculating % of Payment Representing Interest and Principal for Each Year           Year Payment % Representing Interest Payment % Representing Principal Check:  Total = 100%     1           2           3                       Formulas           Year Beginning Balance Payment Interest Repayment of Principal Remaining Balance 1 #N/A #N/A #N/A #N/A #N/A 2 #N/A #N/A #N/A #N/A #N/A 3 #N/A #N/A #N/A #N/A #N/A             b.  Calculating % of Payment Representing Interest and Principal for Each Year           Year Payment %…

Qw.12.a A fully amortizing mortgage loan is made for $104,000 at 6 percent interest for 20 years. Required: a. Calculate the monthly payment for a CPM loan. b. What will the total of payments be for the entire 20-year period? Of this total, how much will be the interest? c. Assume the loan is repaid at the end of eight years. What will be the outstanding balance? How much total interest will have been collected by then? d. The borrower now chooses to reduce the loan balance by $5,400 at the end of year 8. (1) What will be the new loan maturity assuming that loan payments are not reduced? (2) Assume the loan maturity will not be reduced. What will the new payments be?

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