1. Find the monthly payments and the total interest for Loan A. 2. Find the monthly payments and the total interest for Loan B. 3. Compare the monthly payments and interest for the longer-term loan to the monthly payment and interest for the shorter-term loan.

Q: Part 3 is wrong when figuring out monthly payments, which I'm slightly confused on figuring out how…

A: Monthly payments can be regarded as an annuity. To determine the amount of monthly payments we can…

Q: How do banks calculate the monthly payment on a loan?

A: Present value annuity formula is used to calculate the monthly payment on a loan. Here, The loan…

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A: A snapshot from the loan documents has been put up. The type of loan has to be determined.

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A: Loans are paid by the monthly payments that are fixed payments and the monthly payments carry the…

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A: length of a loan refers to the duration of the period, where the person is required to repay the…

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Q: 1. Construct a partial amortization schedule showing the last 2 payments. PMT Setting N I/Y P/Y C/Y…

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Q: With regard to mortgages, how is the monthly payment including principal and interest categorized as…

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Q: .The portion of the selling price paid by the customer at the time of purchase is called ________.…

A: Customers have to pay some amount to purchase on loan.

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Q: calculate the monthly principal and interest, PI (in $),

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A: A balloon loan is a type of loan that which do not fully amortize during the tenure of the loan. As…

Q: What is the name principal future value a. b. Ob

A: Annuity refers to a series of payments  that are made at equal intervals of time.They can be…

Q: (J) A borrower has two alternatives for a loan: (1) issue a $185,000, 60-day, 4% note or (2) issue a…

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Q: Explain in general terms how the portion s of loan payment going to principal and interest change…

A: A loan payment consists of principle and interest, change over the life of the loan because with…

Q: Annuity and annuity due vary in that one is paid in advance.

A: This quotation explains abut  Annuity and annuity due vary in that one is paid in advance.

Q: You are the loan department supervisor for the Pacific National Bank. The following installment loan…

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A: To Find: Annual payment First Inerest payment  Principal repayment

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A: Loans are paid by equal fixed payments that carry the interest and loan payments.

Q: Discuss the basics of loan amortization and develop a loan amortization schedulethat you might use…

A: Loan amortization is the schedule that shows how the borrower will pay the debt in the future It is…

Q: What is the total amount you will pay if you do not pay the loan within the term and meet all the…

A: Step 1:Given: Loan amount = $5400Period of loan = 72 monthsFinal loan amount = $6965.35Interest is…

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A: The questions are related to True or False. This is due to interest and fees, which is what a lender…

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A:

Q: Calculate the missing information for the installment loan that is being paid off early. Number of…

A: Number of payments = 18 Payments made = 3 Payments remaining = 18 - 3 = 15   2. sum of the digit of…

Q: Pls help on this question. pls do all of the question pls i beg. Pls do all three parts.

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

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A: An annuity is a fixed series of payments over the period and contains a number of cashflows.

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Q: Please Help me

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Q: QUESTION 6 Suppose you purchase a home and obtain a 15-ycar fixed-rate loan of $195,000 at an annual…

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Q: Quantitative Problem: You need $19,000 to purchase a used car. Your wealthy uncle is willing to lend…

A: An amortization loan is a type of loan that is repaid in regular installments over a specified…