An firm borrowed $159,000 to remodel their office. The load was to be paid back in equal monthly payments over 30 years at 5% interest, compounded monthly. After 7 years, the firm wants to pay off the loan. What is the remaining balance that must be paid off? Express your answer in $ to the nearest $1,000.

Q: Wills loaned Audrey Chin $16,000 to open Snip Its Hair Salon. After 6 years, Audrey will repay Lee…

A: Future value of investment includes the amount being deposited and amount of interest accumulated…

Q: Lush Gardens Co. bought a new truck for $68,000. It paid $6,800 of this amount as a down payment and…

A: Here, Particulars Values Price of new truck  $ 68,000.00 Down payment  $6,800.00 Loan…

Q: A property has a FMV of $7,500,000. If the property owner can only secure a loan with an LTV of 70%,…

A: Variables in the question:FMV=$7,500,000Loan amount=70% of FMV=70% x $7,500,000 =$5,250,000N=30…

Q: Your firm has taken out a $480,000 loan with 8.1% APR (compounded monthly) for some commercial…

A: The loans are paid the monthly payments that carry the payment for interest and the payment for the…

Q: (a) What is the balance due on the original mort- gage (20 payments have been made in the last 5…

A: Bank loan is the loan which is borrowed by borrower from bank. Bank charges interest on the borrowed…

Q: You are in negotiations to make a 7 - year loan of $31, 000 to DeVille Corporation. To repay you,…

A: Loan amount  (Initial investment) = $31,000Cash flow at the end of year 1 = $2,500Cash flow at the…

Q: You borrowed $550,000 from a bank at an interest rate of 50% compounded quarterly to purchase a new…

A: Rate of interest monthly = 50% / 12 = 4.1666% Periods = 12 * 2 = 24 months Monthly Installment =…

Q: Your firm has taken out a $535,000 loan with 8.6% APR (compounded monthly) for some commercial…

A: Loan (L) = $535000 r = 8.6% per annum = 0.7167% per month n = 15 years = 180 months M = Monthly…

Q: Listen A trucking firm purchased two B-train trucks for $325 000. It paid 20% as a down payment and…

A: The actual cost of two B-train trucks is $325,000 and the down payment is 20% of the actual cost.The…

Q: 1) A company deposits $5000 in a bank at the end of every year for 20 years. The company withdraws…

A: The series of payments is considered an annuity. The annual deposits will increase the value of the…

Q: EnergyMax Engineering constructed a small office building for their firm 5 years ago. They financed…

A: A loan amortization table is a schedule of payments including all the bifurcation of interest…

Q: company makes payments of $1,600 at the end of every month, how long will it take to settle the…

A: Loan: It is the amount of credit taken by the borrower for a period from the lender. The lender…

Q: sh Gardens Co. bought a new truck for $58, 000. It paid $6, 380 of this amount as a down payment and…

A:

Q: Grouper Excavating Inc. is purchasing a bulldozer. The equipment has a price of $90,500. The…

A: Total interest=Total Payment-Amount Borrowed   Annual Payment=Amount borrowedPresent value annuity…

Q: You have just purchased a car and taken out a $42,000 loan. The loan has a five-year term with…

A: Given Loan taken is $42000 term of loan is 5 years APR is 6.4%

Q: Assume you borrowed $20,000 and the terms of the loan include paying 4% interest for a period of 10…

A:

Q: A teacher takes out a loan to buy a house that is worth $250 000. The loan earns interest at an…

A: Time value of money :— According to this concept, value of present money is greater than the value…

Q: Your company has determined it can and is willing to pay a monthly mortgage payment of $12,000 (per…

A: Maximum amount the company can pay is present value of monthly payments

Q: answer must be correct or i wil give down vote   A company financed the purchase of a machine with a…

A: . Given InformationMonthly payment PMT = $8,900Annual interest rate r = 4.25%Monthly interest rate i…

Q: The Anderson Co. wants to borrow $10,000 at the beginning of each year for 15 years at 5 percent…

A: Annual amount=$10000Interest rate=r=5%Period= 6 years

Q: A manufacturer needs to borrow money to purchase a building. The purchase price of the building is…

A: given, purchase price = $1.5 million = 1500,000 downpayment = $300,000 rate =4.85% n =20 years

Q: Your firm has taken out a $537,000 loan with 8.2% APR (compounded monthly) for some commercial…

A: Loan Amortization refers to the systemetic repayment of loan and interest amount over a period of…

Q: Company A is contemplating on borrowing $500,000 to start a business. Credit union 1 has offered to…

A: Union 1 principal = $500,000 Interest rate =14% (compounding continuously) Loan Life = 5 Years…

Q: Lush Gardens Co. bought a new truck for $56,000. It paid $6,160 of this amount as a down payment and…

A: Time, the value of money describes the concept that the money received today is more valuable than…

Calculating the Return On A Loan