Abigail received a loan of $41,000 from the bank at 5.75% compounded monthly. If she had to repay $250 at the end of every month, what will be the principal balance at the end of 3 years? Round to the nearest cent
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- If Rochelle obtained a business loan of $205,000.00 at 4.67% compounded semi-annually, how much should she pay at the end of every 6 months to clear the loan in 30 years? Round to the nearest centPrisha received a loan of $25,000 from the bank at 3.50% compounded monthly. If she had to repay $300 at the end of every month, what will be the principal balance at the end of 4 years? Round to the nearest centBryan received a loan of $42,000 from the bank at 3.25% compounded monthly. If she had to repay $350 at the end of every month, what will be the principal balance at the end of 3 years? $0.00 Round to the nearest cent
- If Rachel obtained a business loan of $205,000.00 at 4.49% compounded semi-annually, how much should he pay at the end of every 6 months to clear the loan in 15 years? Round to the nearest centPrisha received a loan of $8,100 at 5.25% compounded monthly. He settled the loan by making periodic payments at the end of every three months for 6 years, with the first payment made 3 years and 3 months from now. What was the size of the periodic payments? $ 0.00 Round to the nearest centc. By how much will the amortization period shorten if Shawn made an extra payment of $54,000 at the end of the year 3? years E months Express the answer in years and months, rounded to the next month
- Catherine obtained a loan of $40,000 at 4.5% compounded monthly. How long (rounded up to the next payment period) would it take to settle the loan with payments of $2,810 at the end of every month?Jordan received a $30,200 loan from a bank that was charging interest at 3.50% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 5 years? Round to the nearest cent b. What was the amount of interest charged on the loan over the 5-year period? Round to the nearest centYolanda deposited $1,600 at the end of each six months for 2 years in a savings account. If the account paid 8% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.) qu Need Help? Read It Watch It Master It
- Jacqueline received a $30,950 loan from a bank that was charging interest at 4.50% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 5 years? Round to the nearest cent b. What was the amount of interest charged on the loan over the 5-year period?Jeffrey received a $32,950 loan from a bank that was charging interest at 5.75% compounded semi-annually. a. How much does she need to pay at the end of every 6 months to settle the loan in 6 years? Round to the nearest cent b. What was the amount of interest charged on the loan over the 6-year period? Round to the nearest centKathy's bank account earns interest at a nominal annual interest rate = 5% compounded semi-anually. There is a starting balance of $2500 in the account and a deposit of $800 is made at the END of every year. How many years until the balance in her account equals $25,000?