A $58,000 loan is taken out on a boat with the terms 12% APR for 36 months. How much are the monthly payments on this loan? A. $1,926.43 B. $2,311.72 C. $2,504.36 O D. $2,119.07

Q: A $31,000 new car loan is taken out with the terms 3​% APR for 48 months. How much are monthly…

A: Loan amount (PV)=$31,000 Rate per period (i)=0.0312=0.0025 Duration (n)=48 periods Monthly amount…

Q: Finance You have just taken a car loan of $15,000. The loan is for 48 months at an annual interest…

A: Loans are usually taken to buy big ticket items like a house or a car. The loan is repaid through…

Q: To borrow $1,200, you are offered an add-on interest loan at 9 percent. Two loan payments are to be…

A: Borrowed Amount = $1,200 Interest Rate = 9% Time Period = 1 Years

Q: What is the monthly payment on a loan of $5,000 at APR = 6% for 3 years

A: Monthly payment can be calculated by loan amount divided by present value factor of an ordinary…

Q: Payment of loans: Calculate the value of the monthly payments for a loan of ¢300,000.00 in a credit…

A: Monthly Installments - - It includes a portion of principle payment along with Interest. Monthly…

Q: An automobile loan of $15,000 at 12% APR compounded monthly for 36 months requires equal monthly…

A: Repayment of loan is made in installments of fixed amount which include interest as well as portion…

Q: You got a loan today of $10,000 for 3 years, annual interest rate is 6%. The annual payment is…

A: Annual Payment of Loan: It is the periodic payment of a loan including interest for a pre-defined…

Q: A car is purchased with a 48-month, 9% nominal loan with an initial balance of $15,000. What is the…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) $500 loan for 12…

A: The monthly payment for the loan can be calculated with the help of present value of annuity…

Q: ______5. Compounding quarterly means the interest period is  A. every year C. every 6 months  B.…

A: Since you have posted multiple questions, we will answer the first one for you. If you want a…

Q: 1. A P300,000 loan is to be paid as follows: P 10,000/month month 1st month to 10th P20,000/month.…

A: Loan amount = P 300000 Interest rate (r) = 12% per annum = 1% per month 1st to 10th month: P 10000…

Q: A car loan is taken for $20,000 to be paid back in 6 years, with monthly payments of $304. What…

A: We need to use RATE function in excel to calculate annual rate to be charged on loan. The formula is…

Q: Acar loan of $18,290 is to be repaid by equal monthly payments for three years. The interest rate is…

A: Lets understand the basics. When asset is purchased on loan then asset is needed to record at cost.…

Q: A house costs $133,000. It is to be paid off in exactly ten years, with monthly payments of…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: A $40,000 new car loan is taken out with the terms 12% APR for 48 months. How much are monthly…

A: New car loan = $40,000 APR = 12% Time period = 48 Months

Q: Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective…

A: The objective of this question is to find the effective interest rate of a loan that is being paid…

Q: Find the exact interest on a loan of 33,000 at 7% annually for 35 days

A: A loan means receiving money from a bank or other financial organization. The borrower commits to…

Q: A fully amortizing mortgage loan is made for $100,000 for 15 years. The interest rate is 6 percent…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective…

A: The objective of the question is to find the effective interest rate of a loan that is being paid…

Q: a 5-year $10,000 loan requiring monthly payments at a fixed rate of 9% is amortized into five-year…

A:

Q: What is the loan payment on a fixed-rate/fixed-term mortgage loan of $250,000 at 8% for 15 years?…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: Jack borrows $7,000.00 at an interest rate of 15% compounded monthly to be paid off monthly payment…

A: Answer Correct option $6,467.70

Q: What is the monthly payment on a loan of $5,000 at APR = 6% for 4 years.

A: Loan amount (LV) = $5000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Period = 4…

Q: A house costs $142,000. It is to be paid off in exactly ten years, with monthly payments of…

A: Annual Percentage Rate(APR) is nothing but the rate of interest charged to borrower and it will be…

Q: Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective…

A: Month-end payments = $1,450Loan amount = $123,700Number of years = 8 years

Q: A $30,000 loan with an interest rate of 9% compounded monthly was repaid, after a period of…

A: Here, Loan Amount is $30,000 Interest Rate is 9% Monthly Payments is $450 Time period of Monthly…

Q: what is the monthly payment for a loan of 140,000 30 year fixed rate of Apr of 7.5% what is the…

A: Using excel PMT function

Q: 6 month loan with 6% interest rate. Amount of loan is $4800. What is interest on one month?

A: The primary sources of funding that are available to an organization are borrowed funds, equity…

Q: An automobile loan of $26,000 at a nominal rate of 12% compounded monthly for 48 months requires…

A: Amortization table is a schedule which shows periodic lease or loan payments. The periodic payment…

Q: A $33,000 new car loan is taken out with the terms 3% APR for 48 months. How much are monthly…

A: Car loan = 33000 APR = 3% APR per month = 3%/12= 0.25% Total Months= 48 PMT find out: Option C)…

Q: Contractual loan amount 60,000 origination fees of 3% Time period for loan is 5 years and and…

A: Given:   Contractual loan amount 60,000 and origination fees of 3% Time period for loan is 5 years…

Q: Loans An interest-free loan of $15,000 requiresmonthly payments of 8% of the unpaid balance.What is…

A: Introduction Unpaid Balance:  This Balance refers to the balance which stands due on that particular…

Q: What is the simple interest on a Php 500 loan at 25% interest to be paid at the end of 6 months

A: Simple interest = Amount of loan * Interest rate % * time

Q: find the outstanding balance at the end of 2 years.

A: Loan is the amount borrowed bank in exchange for principal and interest to be paid either at the end…

Q: What was the term of a $4850 loan at 4.5% if the interest due at the end was $145.50? Answer (need…

A: Solution:When some amount is invested somewhere, it earns interest on it.So, in case of simple…

Q: A loan of $13,000 at 5.65% annually requires $2938 interest. For how long is the money borrowed?

A: We need to use simple interest formula to solve this problem Simple interest =Principal*Rate*Time

Q: Find the monthly payment for the loan

A: Loan Amount = $200 Time period = 12 months Rate of Interest = 14% Since, loan repayment will be made…

Q: Prepare anamortization schedule for a $50,000 loan that pays10% interest annually for five…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: A $90,000 loan at 7.7% compounded semiannually requires monthly payments of $1,600. Calculate the…

A: We need to first calculate the monthly payment of loan thereafter the number o0f periods of loan and…

Q: A loan is to be repaid by $1250 in 1.5 years and $1750 in three years and three months . The…

A: Given information: Loan to be repaid is $1,250, Number of years is 1.5 Outstanding loan amount is…