a contract requires lease payments of $700 at the beginning of every month for 5 years. a. What is the present value of the contract if the lease rate is 4.77% compounded annually? b. What is the present value of the contract if the lease rate is 4.77% compounded daily? Andrew paid off his student loan in 4 years by making payments of $550 at the beginning of every month. The interest rate on his loan was 6.20% compounded monthly. a. Calculate the size of the original loan. b. Calculate the amount of interest paid on the loan.
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- You borrowed $300,000 for your new house with a 15-year fixed-rate loan at an annual interest rate of 4.5%. The first mortgage payment is due exactly one month after you signed the contract. For the first month, the interest portion from your mortgage payment is _____________.Piotr takes out a loan for $3,159.00. The term of the loan is 10 years, and he will make monthly payments. The interest rate on the loan is 7.775% compounded bi-weekly. a) What is the effective interest rate per payment period? b) If Piotr is going to repay the loan with level payments, what is the monthly payment amount? C) Fill in the first 3 rows of the loan amortization table.Nevaeh is leasing a car originally valued at $33,630. The lease is being financed with an interest rate of 6.97% compounded monthly with beginning of month payments of $621. (a) How many payments will Nevaeh have to make to repay the original value? payment(s) (b) How long, in months, will it take Nevaeh to pay off the lease? (Hint: In an annuity due, payments are made at the beginning of each period.) month(s)
- Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month. What will be the amount of his monthly amortization? Construct an amortization schedule. Use a table similar to that found in our textbook. What will be the outstanding balance of his loan at the end of 4 months from today? If Pedro failed to pay the 2nd and 3rd monthly amortization, how much shall he the required single payment on the fifth month in order to fully pay his outstanding obligation? Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly…Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month. a. What will be the amount of his monthly amortization? b. Construct an amortization schedule. Use a table similar to that found in our textbook. c. What will be the outstanding balance of his loan at the end of 4 months from today? d. If Pedro failed to pay the 2nd and 3rd monthly amortization, how much shall be the required single payment on the fifth month in order to fully pay his outstanding obligation? e. Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be?Pedro borrows P300,000.00 from lender ABC today at 12% compounded monthly. To fulfill his obligation to repay the loan, Pedro agreed to start paying the six (6) equal monthly payments starting next month. a. What will be the amount of his monthly amortization? b. Construct an amortization schedule. Use a table similar to that found in our textbook. c. What will be the outstanding balance of his loan at the end of 4 months from today? d. If Pedro failed to pay the 2nd and 3rd monthly amortization, how much shall be the required single payment on the fifth month in order to fully pay his outstanding obligation? e. Supposed that he will still not be able pay the single total payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the outstanding obligations shall instead be paid in 7 equal monthly installments, at 15% compounded monthly, starting on the 9th month, what will the value of such monthly installment be?…
- Annuity due. Reginald is about to lease an apartment for 24 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,000 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $22,176. What is the implied monthly discount rate for the rent? If Reg is earning 0.5% on his savings monthly, should he pay by month or make the one-time payment?Annuity due. Reginald is about to lease an apartment for 36 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,400 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $46,250 What is the implied monthly discount rate for the rent? If Reg is earning 1.0% on his savings monthly, should he pay by month or make the one-time payment? 1 What is the implied monthly discount rate for the rent? % (Round to two decimal places.) COORAnnuity due. Reginald is about to lease an apartment for 12 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,500 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $17,143. What is the implied monthly discount rate for the rent? If Reg is earning 1.4% on his savings monthly, should he pay by month or make the one-time payment? What is the implied monthly discount rate for the rent? nothing% (Round to two decimal places.)
- Annuity due. Reginald is about to lease an apartment for 12 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,500 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $17,143. What is the implied monthly discount rate for the rent? If Reg is earning 0.7% on his savings monthly, should he pay by month or make the one-time payment? What is the implied monthly discount rate for the rent? % (Round to two decimal places.)Crystal secured a lease on a machine by paying $1,800 as a down payment and then $275 at the beginning of every month for 4 years. Assume that the cost of financing is 3.30% compounded monthly. a. What was the principal amount of the loan? b. What was the cost of the machine? c. What was the amount of interest paid over the term?You entered into a 2-year mortgage for $500,000. The mortgage has a 9 percent interest rate compounded semiannually. Loan repayment is made at the end of every three months. What will be the remaining balance on the mortgage after three years?
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