Answered: Amount Rate Time $63,000 12%…

Amount Rate Time $63,000 12% 3 years table of monthly payments on a $1,000 loan. The monthly payments for this loan are?

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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Amount	Rate	Time
$63,000	12%	3 years

Similar questions

A $23,430 loan is to be settled by making payments of $6,743 at the end of every six months. The interest is 6.25% compounded semi-annually. a) Find the number of payments in the term. N = b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers. Payment Number 0 1 2 3 4 Payment Amount($) PMT tA Interest Portion Principal Portion Loan Balance ($) ($) INT ($) PRN BAL LA LA $ $ $ $ $ $23,430
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A loan is repaid with payments of $2560 made at the end of each month for 13 years. If interest on the loan is 14.5%, compounded semi-annually, what is the initial value of the loan? Enter to the nearest cent (two decimals). Do not use $ signs or commas. Answer: NEXT PAGE
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