For the following loan, make a table showing the amount of each monthly payment that goes toward principa interest for the first three months of the loan. A home mortgage of $166,000 with a fixed APR of 6% for 30 years. Fill out the table. End of... Payment Toward Principal Month 1 $ (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places needed.) Interest New Principal

For the following loan, make a table showing the amount of each monthly payment that goes toward principa interest for the first three months of the loan. A home mortgage of $166,000 with a fixed APR of 6% for 30 years. Fill out the table. End of... Payment Toward Principal Month 1 $ (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places needed.) Interest New Principal

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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onsider the following loan. Complete parts (a)-(c) below. n individual borrowed $65,000 at an APR of 5%, which will be paid off with monthly payments of $442 for 19 years. ... a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ 65000, the annual interest rate is 5%, the number of payments per year is 12, the loan term is 19 years, and the payment amount is $ 442. b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? There are 228 payments toward the loan and the total amount paid is $ 100776 c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is% and the percentage paid for interest is%. (Round to the nearest tenth as needed.)
What are the repayment schedules for each of the following five-year, 9 percent $11,000 term loans? Use Appendix D to answer the questions. Do not leave any cells blank. If the answer is zero, enter "0". Do not round intermediate calculations. A. Equal annual payments that amortize (retire) the principal and pay the interest owed on the declining balance. Round your answers to the nearest cent. Balance Interest Principal Year payment repayment on loan $ $ $ $ $ 1 2 3 4 5 $ $ $ $ $ Interest Principal Balance Year payment repayment on loan 1 $ $ 2 is B. Equal annual principal repayment, with interest calculated on the remaining balance owned. Round your answers to the nearest dollar. $ $ 3 $ $ $ 4 5 es $ $ $ $ $ $ $ $ $ $ $ $ $
A loan is offered with bi-weekly payments (26 payments per year) and a 15.00 percent APR. What's the loan's effective annual rate (EAR)? Note: Round your final answer to 2 decimal places.
Determine the monthly payment for the installment loan. Annual Number of Percentage Amount Financed (P) Rate (r) Payments per Time in Year (n) Years (t) $800 6% 12 1 Click the icon to view the partial APR table. The monthly payment is $. (Round to the nearest cent as needed.)
subject : finance
Calculate the monthly payments for each of the following $119,600 mortgage loans. Assume no prepayments. a. 30-year fixed at 7.25 percent b. 15-year fixed at 6.25 percent c. 20-year fixed at 6.75 percent Note: Round intermediate computations to at least five (5) decimal places. Click on the table icon to view the Monthly Installment Loan Payment Factor (MILPF) table: a. The monthly payment, PMT, on the 30-year loan is $ (Round to the nearest cent.)
The interest rate on a $115,000 loan is 8.6% compounded semiannually. The monthly payments on the loan are $900. (Round your answers to 2 decimal places.) a. Calculate the interest component of Payment 200. Interest S b. Calculate the principal component of Payment 135. Principal c. Calculate the final payment. Final payment
Compute the size of the final payment for the following loan. Periodic Payment Interval Payment Made At: end Conversion Principal $18,000 Payment $1,816 Interest Rate Period 3 months 5% quarterly
The interest rate on a $15,300 loan is 9.7% compounded semiannually. Semiannual payments will pay off the loan in nine years. (Do not round intermediate calculations. Round the PMT and final answers to 2 decimal places.) a. Calculate the interest component of Payment 12. $ b. Calculate the principal component of Payment 5. Principal c. Calculate the interest paid in Year 8. Interest paid d. How much do Payments 5 to 8 inclusive reduce the principal balance? Principal reduction Interest
Loan Repayment A loan of $10,000 is to beamortized with quarterly payments over 4 years. Ifthe interest on the loan is 8% per year, paid on theunpaid balance,a. What is the interest rate charged each quarter onthe unpaid balance? b. How many payments are made to repay the loan?c. What payment is required quarterly to amortizethe loan?
Calculate the total amount of interest dollars you will pay the bank over the life of the loan. Round to the nearest dollar and assume end-of-month payments. Table 6.2 The Loan Amortization Schedule for a $5,000 Loan at 10% to Be Repaid in Four Years Year Amount Owed on the Principal at the Beginning of the Year (1) Interest Portion Annuity Payment (2) of the Annuity = (1) x 10% = (3) 1 $5,000.00 1577.35 500 2 (1) Amount Owed (ii) PMT (III) Interest on the Principal at the Beginning Portion of the 2nd year of the Year 2 3 4 Repayment of the Principal Portion of the Annuity = (2) (3) (4) 1077.35 (iv) Repayment of the Principal Portion of the 2nd year Outstanding Loan Balance at Year End, After the Annuity Payment = (1)-(4) = (5) 3922.65 (v) Outstanding Loan Balance at Year 2 End, after the Annuity Payment Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 2000 b 6309 с 1309 d 500
Complete the first three lines of an amortization schedule for the following loan. Assume monthly payments. amount, $6000; rate, 9%; time, eighteen months Fill out the amortization schedule below, assume monthly payments and round all values to the nearest cent. Payment Amount of Interest Applied to Number Payment Payment Principal 2 3 $ $ $ Balance $6000 $ $

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