How much was the amount of the original loan? Regular Payment Rate of Compound Interest per Year 5.4% $1575 every 6 months a. $8445.09 b. $14444.94 a C. d. Compounding Period semi-annual $17076.01 $24 143.61 Time 6 years

Q: Use the appropriate formula to find the amortization payment you would need to make each 3 months at…

A: Amortization payment refers to that payment which is required to be paid to payoff the loan during…

Q: A $106,000 mortgage loan has a 20-year amortization. a. Calculate the monthly payment at interest…

A: A mortgage loan is a type of loan used to finance the purchase of a property, typically a home. The…

Q: Principal Compounded quarterly Rate Time The principal represents an amount of money deposited in a…

A: Answer: Calculation of the amount of money in the account after the given number of years: Formula,…

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 amortization table for a $13,000 loan amortized in five annual payments if the interest…

A: Amortization refers to the practice of distributing the cost of a loan or an intangible asset over a…

Q: A payment of $400 was made at the end of each year for five years into a savings account. The…

A: Principal amount=Payment per year×Number of years=$400×5=$2,000

Q: A loan of $34,200.00 at 5.50% compounded semi-annually is to be repaid with payments at the end of…

A: The objective of the question is to calculate the size of the periodic payment and the total…

Q: Find the monthly payment needed to amortize principal and interest for the fixed-rate mortgage. Use…

A: Monthly installment refers to the amount of periodic payments a borrower makes to its lender in…

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: Jaspreet received a 15 year loan of $300,000 to purchase a house. The interest rate on the loan was…

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

Q: What is the difference on the total interest payments between a 25 year 5.65% fixed rate fully…

A: The objective of the question is to find the difference in total interest payments between a 25-year…

Q: A design studio purchase a camera. If they settled the loan in 2 years by making quarterly payments,…

A: Loans are to paid by the periodic payments that carry the payment for loans and payment for interest…

Q: 5. How much interest must be paid on a loan of $4300 at 10% compounded semi- annually for 4 years?…

A: Formula: P x [ 1 + ( R / N )NT P = Principal R = Rate of interest N = Number of compounding periods…

Q: Construct an amortization schedule for a $1.000, 3.5% annual rate loan with 3 equal payments. The…

A: Annual Payment = [PV of Annuity * r] /[1 - (1 + r)-n]

Q: A loan of $25,250.00 at 4.00% compounded semi-annually is to be repaid with payments at the end of…

A: Payment per period can be calculated using PMT function in excel.PMT(rate, nper, pv, [fv],…

Q: You take out 1 $10,000 loan for 7 years at an annual interest rate of 5% and with fixed annual loan…

A: Borrowed amount is $10,000 Annual interest rate is 5% Payment per year is $1,728.20   To Find:…

Q: klp.1

A: The objective of the question is to find the nominal interest rate charged on a loan that was…

Q: Find the simple interest paid on a $510 loan at 7.8% annual interest for 19 months.

A: Simple interest can be calculated as: = Principal * Rate * Months / 12

Q: Annual % rate: 5.9% Amt of Mort: $180,000 Unpaid Balance: Monthly Payent: $1067.65 Number of Monthly…

A: Loans are paid by equal monthly payments and the unpaid balance is the present value of payments…

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

A: The question gives the following information:

Q: Find the amount of the payment necessary to amortize each of the given loans. 53. $32,000 at 8.4%…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: Single-payment loan repaymentA person borrows $200 to be repaid in 8 years with 14% annually…

A: Compound interest happens when formerly earned interest is increased to the principle investment…

Q: In order to buy a vacation home, Neal and Lilly took out a 30-year mortgage for $250,000 at an…

A: A mortgage refers to a covered loan borrowed for purchasing real estate. The real estate itself acts…

Q: Amount of mortgage Annual interest rate Years in mortgage Monthly payment ​$86,000 6.00​% 25…

A: A borrower is required to pay the lender the interest and the original amount by paying regular…

Q: Scott's student loan of $22,500 at 3.42% compounded quarterly was amortized over 3 years with…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: A new loan at 9% compounded quarterly requires quarterly paymets of $727.88 for seven years. Rounded…

A: Interest rate = 9% Quarterly interest rate (r) = 9%/4 = 2.25% Quarterly payment (P) = $727.88 Period…