Find the periodic payment. Write in Amorzation Schedule

Q: Bryan purchased a house for $500,000. She made a down payment of 15.00% of the value of the house…

A: Monthly payment refers to an amount that is paid every month for the repayment of a loan amount by…

Q: Jenna purchases a retirement annuity that will pay her $1,000 at the end of every six months for the…

A: Semi Annual Payment Semi Annual Payment $              1,000.00Time Period (years)8Interest…

Q: Luke borrows $200 000 from a bank to set up a medical practice. He agrees to pay a fixed interest…

A: Given: Loans = $200,000 Interest rate = 18.48% years = 10years

Q: Asa has invested money from the settlement of an insurance claim. She plans to withdraw $1,920 from…

A: Fist we need to calculate present value of all withdrawals by using present value of ordinary…

Q: omplete amo

A: fixed Monthly payment = P*R* ((1+r)^n)/((1+r)^n-1) P= Loan amount R= 5.90%/12= 0.4916% N= 12*0.5= 6…

Q: Luis is expected to settle a loan by paying $5,500. What amount should she pay if she decides to…

A: To calculate the amount Luis should pay if she decides to settle the loan seven months earlier, we…

Q: e borrows $200 000 from a bank to set up a medical practice. He agrees to pay a fixed interest rate…

A: Loans are paid by equal monthly payments that carry interest and loan payments.Given:Loans =…

Q: Remy obtains a 30-year mortgage in the amount of $625,000 for a co-op. She secures a 7/1 ARM at an…

A: ARM is a type of variable interest loan, where the interest amount changes after the initial period.…

Q: Lily purchased a boat valued at $19 000 on an installment plan requiring equal monthly payment for…

A:

Q: Nick received a loan of $5000 from a bank to purchase a bike. He obtained the loan at an interest…

A: Amortization Schedule: The amortization schedule represents a table consisting of periodic loan…

Q: Joseph purchased an annuity that had an interest rate of 2.75% compounded semi-annually. It provided…

A: The purchase price of an annuity corresponds to current worth of annuity payments that make investor…

Q: Margarita borrows R10,000 from her uncle and agrees to repay it in monthly instalments of R200. Her…

A: Loans are paid in equal monthly payments and these payments carry the payment for interest and…

Q: Flo East has $25,000 to invest in a financial institution for a period of three years. Institution A…

A: Explanation : When we are calculating the Compounded Interest calculation Monthly Compounding…

Q: Angelica received a 12-year non-subsidized student loan of $18,000 at an annual interest rate of…

A: Non-subsidized student loan is a type of student loan that is not subsidized by the Federal…

Q: Ms. C took a loan of $150,000 at a rate of 7 percent. She can pay equal installments of $25,000 at…

A: PV(loan amount) = 150,000I/Y (interest rate) = 7%PMT (periodic payment) = 25,000

Q: To vacation with his family, Mr. Velasco obtains a loan of $60,000 to be paid in 7 monthly…

A: Let's create an amortization table for Mr. Velasco's loan. Here are the details:Loan amount:…

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.