How much interest will accrue over six months on a $5,000, 8% loan?
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- What is the maturity value on a 6-year loan for S7, 585 if the annual simple interest rate is 6.1%? Round your answer to the nearest dollar.Assuming that the interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments 166.10? What is the APR on this loan?Suppose you obtain a mortgage loan of $210,000 at an annual interest rate of 5.0%. How much less is the interest paid over the life of a 10-year loan than over the life of a 25-year loan? Round your answer to the nearest cent.
- What is the yield to maturity (YTM) on a simple loan for $1,000 that requires a repayment of $3,000 in five years' time? The yield to maturity is%. (Round your response to one decimal place.)Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?A borrower gets a $75,000, 25 year, 13% loan with 4 points. What is the true interest rate?
- If you take out an amortized loan of $33,000 with a 14 year term and 7.4% interest rate, what are the annual payments you need to make? Round to the nearest dollar.You want to borrow $1,000 at an interest rate of 10%. The most expensive method of calculating the dollar cost of the interest on this installment loan will be? add on, discount, simple interest or declining balance method?If you borrow $1,000 at 8.5% simple interest and the loan requires a lump sum payment of $1,213.16, what is the term of the loan? (Round your answer to the nearest whole number.)t = days
- a. What will be the monthly payment on a 30-year, $250,000 mortgage loan, where the interest rate is 6% per year, compounded monthly? How much interest is paid over the life of the loan? b. What will be the monthly payment on a 30-year, $250,000 mortgage loan, where the interest rate is 6% per year, compounded continuously? How much interest is paid over the life of the loan? c. What will be the monthly payment on a 15-year, $250,000 mortgage loan, where the interest rate is 6% per year, compounded monthly? How much interest is paid over the life of the loan?What size loan must we take today with a 14% compound interest rate to have end-of-year payments of $1400, $1320, $1240, $1160, and $1080 for the next five years, respectively? In other words, if you take out a loan today, and after making all five payments, above, the loan is paid off, what is the value of that loan? Answer:What would be the monthly payment on a 20-year, $140,000 mortgage loan if the rate was 3.5%, monthly compounding?
