Question 7Erica has taken out a loan for server equipment for her business totaling $18,000. Theloan will be repaid by making end of quarter payments of $498.77 for the next 12years. If interest is 4.9% compounded monthly, find the balance on the loan at the endof the 4th year? Enter a POSITIVE VALUE, rounded to two decimal places.Balance at the end of the 4th year: $Submit Question

Present value is the estimation of the current value of future cash value which is likely to be…

Answered: Erica has taken out a loan for server…

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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subject : finance
$3000 are invested in a bank account at an interest rate of 5 percent per year. Find the amount in the bank after 5 years if interest is compounded annually. Find the amount in the bank after 5 years if interest is compounded quarterly. Find the amount in the bank after 5 years if interest is compounded monthly. Finally, find the amount in the bank after 5 years if interest is compounded continuously. Question Help: D Video M Message instructor Submit Question
Alexandra received a 30 year loan of $280,000 to purchase a house. The interest rate on the loan was 4.60% compounded semi-annually. a. What is the size of the monthly loan payment? Round to the nearest cent hp SUBMIT QUESTION SAVE PROGRESS 12°C
Find the monthly payment and estimate the remaining balance. Assume interest is on the unpaid balance. 5-year computer loan for $2770 at 6.7%; remaining balance after 2 years. The monthly payment is (Round to the nearest cent as needed
You borrowed $10,000 from a bank to invest in IT & Mobile technology with payback the loan in graduated payment plan. If your first payment is $1,000 at the end of first year and i=10% over 5 years. Note: (P/G, 10%, 5) = 6.86 Q/Find the total earned interest by the bank at the end of period?
Subject: acounting
Repaying a Loan While Mary Corens was a student at the University of Tennessee, she borrowed $9,000 in student loans at an annual interest rate of 10%. If Mary repays $1,300 per year, then how long (to the nearest year) will it take her to repay the loan? Do not round intermediate calculations. Round your answer to the nearest whole number.
For the given student loan, find the interest that accrues in a 30-day month, then find the total amount of interest that will accrue before regular payments begin, again using 30-day months. $8800 at 6.3% interest; student graduates 2 years and 7 months after loan is acquired; payments deferred for 6 months after graduation. Part: 0 / 2 Part 1 of 2 The interest that accrues in a 30-day month is $ places, if necessary. Round to two decimal X oo K
You have taken out a loan of $23,000 for 4 years with an interest rate of 4% compounded annually. The loan will be repaid by end of year payments. Fill in all the boxes below, and round all entries to the nearest cent. Enter only positive values for ALL ANSWERS. Annual payment: $ Payment Number 0) 1) 2) 3) 4) Total Amount Paid $ 6,336,30 x same as above same as above $ Interest Paid SA SA A +A +A Principal Repaid SA SA +A Outstanding Balance $23,000 SA GA SA
For the given student loan, find the interest that accrues in a 30-day month, then find the total amount of interest that will accrue before regular payments begin, again using 30-day months. $6400 at 7.9% interest; student graduates 3 years and 9 months after loan is acquired; payments deferred for 6 months after graduation. Part: 0 / 2 Part 1 of 2 The interest that accrues in a 30-day month is $ places, if necessary. Round to two decimal X oo → K
As requested this the second part of the question Consider a car Loan of $ 20,000 to be repaid over 5 years in monthly installments. Annual Interest Rate = 6 % b) Calculate the value of each monthly payment if interest is declining.
To pay for your education, you've taken out $24 comma 00024,000 in student loans. If you make monthly payments over 1212 years at 66 percent compounded monthly, how much are your monthly student loan payments? Question content area bottom Part 1 Your monthly student loan payments are $enter your response here. (Round to the nearest cent.)

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