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- Consider a student loan of $25,000 at a fixed APR of 9% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.Consider a student loan of $12,500 at a fixed APR of 12% for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is S (Do not round until the final answer. Then round to the nearest cent as needed.) b The total payment over the term of the loan is $ (Round to the nearest cent as needed) c. Of the total payment over the term of the loan, % is paid toward the principal and (Round to the nearest tenth as needed ) % is paid toward interest.Consider a student loan of $25,000 at a fixed APR of 12% for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
- Find the monthly payment on the loan. Assume that the term of the loan is 10 years. $7,500 at 7.9% interest; student graduates 2 years and 8 months after loan is acquired; payments deferred for 6 months after graduation. The monthly payment on this loan is $ decimal places, if necessary. Round your answer to two← Consider a student loan of $25,000 at a fixed APR of 9% for 30 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)Suppose you have a student loan of $45,000 with an APR of 12% for 20 years. Complete parts (a) through (c) below. a. What are your required monthly payments? The required monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
- Consider a student loan of $12,500 at a fixed APR of 12%for 25 years. What is the monthly payment?(Do not round until the final answer. Then round to the nearest cent as needed.) The total payment over the term of the loan is?(Round to the nearest cent as needed.) Of the total payment over the term of the loan %? is paid toward the principal and %? is paid toward interest.For a student loan of $20,700 at 2.75% for 20 years, complete the following. (a) Calculate the monthly payment necessary to amortize the loan amount. (b) Find the amount of money saved over the lifetime of the loan if an additional $100 is added to the monthly payment. (a) The monthly payment is $. (Do not round until the final answer. Then round to the nearest cent as needed.)Set XYZ as the last three digits of your student number. Construct an amortization schedule for a XYZ,000 loan repaid in ten annual payments, in which the annual effective rate of interest is 5%. Construct a sinking fund schedule for item 3. The annual effective rate of interest is 5% for the loan and sinking fund.
- Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid. $204,000 at 6.89% for 25 years The monthly payments are $ (Round to the nearest cent.)Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $17,900 with an annual interest rate of 09.00%. The loan will be repaid over 22 years with monthly payments. 1. What is the Loan Payment? 2. What portion of this payment is Interest? 3. What portion of this payment is Principal? 4. What is the Loan balance after first monthly payment?Determine the interest rate you will pay if you are approved for a loan of $112,000 with annual payments of $15,000 for 8 years.