Determine monthly installment loan  p 53000 r 6.5 % Payment in a year 12 t 4 years

Q: Q7. The annual payment of alorry is 40, 000 Euro find out theloan amount which is granted for4 years…

A: The objective of the question is to find out the loan amount for a lorry with given annual payment,…

Q: To borrow $1,200, you are offered an add-on interest loan at 9 percent. Two loan payments are to be…

A: Borrowed Amount = $1,200 Interest Rate = 9% Time Period = 1 Years

Q: aa.2

A: The objective of this question is to calculate the monthly payment for a 15-year fixed loan at an…

Q: Auto loan requiers payment of 300 Rials at the end of each interval for 3 years at nominal annual…

A: Hi, please note that there is a typo in the question and the present value of the loan should be…

Q: A loan of $14,800 is to be amortized with quarterly payments over 7 years. If the interest on the…

A: Installment is the amount of periodic payments a borrower makes to its lender in order to pay back…

Q: aa.2

A: The objective of this question is to calculate the monthly payment for a 15-year fixed loan at an…

Q: a-1 mortage makes loans with the interest charged on the loan principle rather than on the unpaid…

A: Equal Annual Payment: $2,052.19Explanation:We are givenPrincipal amount (P): $10,000Annual interest…

Q: Periodic deposit-$? at the end of the year Rate-5% compounded annually Time-19 years Financial…

A: Financial goal The goals that an individual or business sets when dealing with money are called…

Q: Find the monthly payment for the loan. A $504000 hone bought with a 20% down payment and the…

A: To calculate the monthly we will use below formula   Monthly payment = P/[1-(1+r)-n]/r Where P -…

Q: A $100,000 mortgage loan at 6.3% compounded semi-annually has a 25-year amortization period.…

A: A mortgage is a covered loan borrowed to purchase a property. The property itself acts as collateral…

Q: Acar loan of $18,290 is to be repaid by equal monthly payments for three years. The interest rate is…

A: Lets understand the basics. When asset is purchased on loan then asset is needed to record at cost.…

Q: £10,000 loan at 6% simple interest. The entire loan is to be repaid in one lump sum after five…

A: The formula to determine the annual interest amount is as follows: Interest = Loan Amount * interest…

Q: How much will you owe at the end of 10 years and a month, if you decide to pay your yearly bonus at…

A: Here, Loan Amount$355,000.00Time Period in years15APR5.50%Compounding Period (Weekly)52Yearly Bonus…

Q: nd the future value of the loan. $200.00 loan at 5% for 5 months

A: Loan is the amount borrowed at a certain interest rate for a specific period of time.

Q: Amortization with Equal Payments Prepare an amortization schedule for a five-year loan of $71,500.…

A: Working note:

Q: How much will you owe at the end of 10 years and a month, if you decide to pay your yearly bonus at…

A: Here, Loan Amount$355,000.00Time Period in years15APR5.50%Compounding Period (Weekly)52Yearly Bonus…

Q: you borrow 2100 monthly payment 352.81 6 years what is apr of loan

A: Loan amount = 2100Monthly payment = 352.81time = 6 years or 72 months (note 1 year = 12 months)

Q: Find the exact interest on a loan of 4000 at 8% annually for 50 days

A: Simple interest is defined as the interest computed on the principal amount of the loan or the…

Q: what is the monthly payment for a loan of 140,000 30 year fixed rate of Apr of 7.5% what is the…

A: Using excel PMT function

Q: ind the maturity value of the loan. The maturity value is $ Principal Rate Time $1000 8% 18 months

A: In this we have to find out the maturity value of loan by using future value formula.

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.