A $90,000 loan at 7.7% compounded semiannually requires monthly payments of $1,600. Calculate the final payment.O $1289.61O $1291.47O $1137.28O $1165.92O $1144.46

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

Answered: A $90,000 loan at 7.7% compounded…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Determine the monthly payment for the installment loan. Use the installment payment formula m = 1- Amount Financed (P) $1,440 O A. $179.15 B. $35.15 O C. $125.26 O D. $366.02 P n 1+) - not Annual Percentage Rate (r) 8% Number of Payments per Year (n) 12 Time in Years (t) 4
A $90,000 loan at 7.7% compounded semiannually requires monthly payments of $1,600. Calculate the final payment. $1291.47 $1144.46 $1289.61 $1165.92 $1137.28
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
loan of $37,100.00 at 6.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 6 years. a. Calculate the size of the periodic payment. $3,488.50 $4,425.18 $3,727.14 $4,009.67 b. Calculate the total interest paid. $7,625.68 $44,725.68 $3,898.54 $11,352.82
Semiannual payments of $5,000 are to be made on a $70,000 loan at 14% compounded semiannually. A smaller, final payment will be made at the end of the amortization period. What will be the size of the final payment? Multiple Choice $4,125 $2,977 $4,990
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The payment necessary to amortize a 5.5% loan of $82,000 compounded annually, with 8 annual payments is $12,944.85. The total of the payments is $103,558.80 with a total interest payment of $21,558.80. The borrower ma larger payments of $13,000.00. Calculate (a) the time needed to pay off the loan, (b) the total amount of the paymen and (c) the amount of interest saved.
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Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0". Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ fill in the blank 60 $ fill in the blank 61 $ fill in the blank 62 $ fill in the blank 63 $ fill in the blank 64 2 $ fill in the blank 65 $ fill in the blank 66 $ fill in the blank 67 $ fill in the blank 68 $ fill in the blank 69 3 $ fill in the blank 70 $ fill in the blank 71 $ fill in the blank 72 $ fill in the blank 73 $ fill in the blank 74 4 $ fill in the blank 75 $ fill in the blank 76 $ fill in the blank 77 $ fill in the blank 78 $ fill in the blank 79
Please do not answer this question in excel thank you in advance. A loan of $13,000 at 5.65% annually requires $2,938 interest. For how long is the money borrowed?

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A $90,000 loan at 7.7% compounded semiannually requires monthly payments of $1,600. Calculate the final payment. O $1289.61 $1291.47 O $1137.28 O $1165.92 $1144.46