asssuming that the interest is the only finance charge, how much interest would be paid on 5,000 installment loan to be repaid in 36 moonthly installment 166.10? what is the apr on this loan?

Q: Number of Payments Payments Made 36 23 Payments Remaining Sum-of-the- Digits Payments Remaining…

A: Step 1 Loans are repaid in installments or monthly instalments. You repay the money you are lent,…

Q: What is the difference in interest paid between a 30-year mortgage loan and a 15-year mortgage loan…

A: Interest: It represents the monetary charge on the amount borrowed by the borrower from the lender.…

Q: 9. A borrower takes out a 30-year mortgage loan for $285,000 with an interest rate of 4.125%.…

A: Payment per period can be calculated using PMT function in excel.PMT(rate, nper, pv, [fv],…

Q: simple interest The interest on a loan of P 2,500 is P 165.00 .  If the rate of interest is 6 %,…

A: The time on the loan can be calculated with the help of simple interest equation

Q: correct answers are i) = 16,775. ii) = 15,293.38. iii) for a) 15,131.79 and for b) 167.64 no…

A: A repayment schedule, also known as an amortization schedule or loan repayment schedule, is a table…

Q: (a) What is the rebate fraction of a 36 month loan paid off after the 12th payment? (b) What is the…

A: Rebate: It is the amount of money that is returned or credited to the customer in regard to a…

Q: hat relationship exists between the length of the loan and the monthly payment? How does the…

A: Loans are paid by the monthly payments that are fixed payments and the monthly payments carry the…

Q: effective interest rate on a loan

A: Effective interest rate refers to the return on the savings account at the time compounding effects…

Q: A loan is to be paid by installments of $800 1-month from now, $600 3-months from now, and $500 4-…

A: Loans are paid by the amount that carry the interest on the loan and paid by the single equivalent…

Q: Calculate the missing information for the installment loan that is off early. Sum-of-the-…

A:

Q: Given the annual interest rate and a line of an amortization schedule for that the next line of the…

A: An amortization schedule is a schedule that shows the interest paid, annuity paid, and the repayment…

Q: What is Debt Service?

A: Step 1 The amount of money required to pay interest on the loan with the principal over some time is…

Q: John wants to "roll in" or finance the loan fee of $5, 200 into the loan amount which would make the…

A: Loan amount=$106200Loan fee=$5200Interest rate=5%Period=30 yearsIn this, first three parts will be…

Q: (J) A borrower has two alternatives for a loan: (1) issue a $185,000, 60-day, 4% note or (2) issue a…

A: Issue amount185000Interest rate4%Duration of issuance (in days)60Number of days in a…

Q: Which of the following statement is true of amortization? The computation of loan amortization is…

A: We take loans to buy things that we cannot afford on our own.  The loan is then repaid through fixed…

Q: monthly

A: I would borrow a loan that is amortized quarterly.   The reason for this is based on the principles…

Q: What is the total amount you will pay if you do not pay the loan within the term and meet all the…

A: Step 1:Given: Loan amount = $5400Period of loan = 72 monthsFinal loan amount = $6965.35Interest is…

Q: 3. Find the amount (in $) of interest and the maturity value of the loans. Use the formula  MV = P…

A: Solution:- When an amount is invested somewhere, it earns interest and the amount receivable at…

Q: Find the amount (in $) of interest on the loan.

A: Interest: It refers to the monetary charge paid by the borrower to the lender for taking a loan. It…

Q: FRM. (Term=30 years, Note Rate = 5.25, Loan Amount = 800,000, Points=2) What is the FTL annual…

A: Time period is 30 years Loan amount is 800,000 Points =2 To Find: Annual percentage rate

Q: Calculate the missing information for the installment loan that is being paid off early. Number of…

A: Number of payments = 18 Payments made = 3 Payments remaining = 18 - 3 = 15   2. sum of the digit of…

Q: Consider a $5,000, 6%, 180-day interest-bearing note and a non-interest- bearing note for the same…

A: The notes are used by borrowers for raising funds that are categorized as interest bearing and…

Q: What are the Effects of Maturity on Monthly Payments on Fully Amortizing Loans?

A: In fully amortized loan, total loan will be paid off by end of maturity i.e. loan term. Monthly…