Complete the first three lines of an amortization schedule for the following loan. Assume monthly payments.amount, $8000; rate, 9%; time, eighteen monthsFill out the amortization schedule below, assume monthly payments and round all values to the nearest cent.Payment Amount of Interest Applied to BalanceNumber PaymentPaymentPrincipal$80001$

We will use Excel to solve this. Writing in tabular form:

Answered: Complete the first three lines of an…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Kumar uses a $1,100 personal loan to start a bike repair business. He will repay the loan in monthly payments of $93.72 for 1 year at an annual interest rate of 4.1% compounded monthly. The table shows the first payment in the amortization schedule. Payment Number Loan Amount Рayment Interest Principal Remaining Balance 1 $1,100.00 $93.72 ? What balance remains after he makes the first payment? $1,193.72 $1,006.28 $1,096.24 $1,010.04
6 year non subsidized student loan of 31000 with an interest rate of 5.1% , calculate monthly payments for this loan after graduating in 4 years
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. (Round your answer to th nearest cent.) tA Balance: $400 Rate: 16% Payment: $50 Method: Adjusted balance
Payment Number Amount of Payment 0 1 $310.97 2 $310.97 3 $310.97 4 $310.97 5 $310.97 6 $310.97 7 $310.97 8 $310.97 9 $310.97 10 $310.97 11 $310.97 12 $310.97 Amortization Table Interest for Period $35.00 $32.24 $29.45 $26.64 $23.79 $20.92 $18.02 $15.09 $12.13 $9.15 $6.13 $3.08 Portion to Principal $275.97 $278.73 $281.52 $284.33 $287.18 $290.05 $292.95 $295.88 $298.84 $301.82 $304.84 $307.89 Principal at End of Period $3500.00 $3224.03 $2945.30 $2663.78 $2379.45 $2092.27 $1802.22 $1509.27 $1213.39 $914.55 $612.73 $307.89 $0.00
Kalani Canfield purchases a deluxe hot tub for $6575. The sales tax is 6.25% of thepurchase price.a. What is the total cost, including sales tax?b. If Kalani makes a down payment of 20% of the total cost, find the down payment.c. Assuming Kalani finances the remaining cost at an annual interest rate of 7.8%for 3 years, find the monthly payment.
Calculate the missing information for the loan. Round percents to the nearest tenth and days to the next higher day when necessary. Principal Rate(%) Time(days) InterestMethod Interest Maturity Value(in $) $3,300 % 162 Exact $220 $
Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid. $203,000 at 7.05% for 30 years The monthly payments are $ (Round to the nearest cent.) The total amount paid on the loan is $ (Round to the nearest cent.) The total amount of interest paid is $ (Round to m nearest cent.)
A loan of $1,544 at 10.75% interest compounded semi-annually is to be repaid in four years in equal semi-annual payments. Complete an amortization schedule for the loan. Adjust the final payment so the balance is zero. Fill out the amortization schedule below. (Round to the nearest cent as needed. Do not include the $ symbol in your answers.) Payment Amount of Interest Applied to Balance Number Payment Payment Principal $1,544 1 2 3 4 5 6 7 8 $ $ JUL S $ $ $ S UL SA $ S $ $ $

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