CIBC issued a loan of $76,000 at 8.37% compounded semi-annually. The loan was repaid by payments of $1,000 at the end of every month. a. How many payments were required to pay off the loan? (Enter a whole number) b. What was the total principal repaid in the 5th year? (Enter starting and ending periods as P1 and P2 and the total principal repaid as a positive value to the nearest cent.) PL P2- Total principal repaid in the 5th year c. What was the size of the final payment? (Enter a positive value to the nearest cent)

CIBC issued a loan of $76,000 at 8.37% compounded semi-annually. The loan was repaid by payments of $1,000 at the end of every month. a. How many payments were required to pay off the loan? (Enter a whole number) b. What was the total principal repaid in the 5th year? (Enter starting and ending periods as P1 and P2 and the total principal repaid as a positive value to the nearest cent.) PL P2- Total principal repaid in the 5th year c. What was the size of the final payment? (Enter a positive value to the nearest cent)

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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The interest rate on a $57,000 loan is 10.4% compounded semiannually. Quarterly payments will pay off the loan in fifteen years. (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. Calculate the interest component of Payment 13. Interest b. Calculate the principal component of Payment 50. Principal c. Calculate the total interest in Payments 39 to 50 inclusive. Total interest $ d. Calculate the reduction of principal in Year 4. Principal reduction %24 %24
Please do not use excel format in computation A debt of P25,000 was repaid in ten equal quarterly payments. If the rate of interest was 7% compounded quarterly, what was the size of each payment?
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Mf3. : An entity took UAH 100,000 loan for 5 at 26% of annual interest rate. Interests are paid annually. A bank is using annuity due scheme. Interest revenue for a bank in period 1 is: An entity took UAH 100,000 loan for 5 at 26% of annual interest rate. Interests are paid annually. A bank is using annuity due scheme. Principal, paid in the fourth period, is: Outstanding loan amount is USD 17,000.00. Annuity is USD 4,315.27, interest rate is 18%. The amount of principal, paid in the given period is: Outstanding loan amount is USD 22,000.00. Annual interest rate is 11%. Interest is paid at the end of each year. In the given period bank received USD 4,300.00 of principal payment. The annuity amount is:
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A company borrowed $13,000 paying interest at 7% compounded quarterly. If the loan is repaid by payments of $2100 made at the end of each 3 months, constructa partial amortization schedule showing the last three payments, the total paid, and the total interost paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number Outstanding Amount Paid Interest Paid Principal Repaid Principal $2100 $2100 $2100 s151.41 s 1948 50 Total Paid S (Do not round until the final answer. Then round to the nearent cent as needed) arce Interost Paid s (Do not round until the final anower. Then round to the nearest cent as needed) ess Enter your answer in each of the answer boxes

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