If a $27,000 loan is repaid by end of month payments of $640 and interest is at 9% compounded monthly, how much principal will be repaid during the first year? O $5,472.07 O $2,005.36 O $6,120.06 O $3,986.66

If a $27,000 loan is repaid by end of month payments of $640 and interest is at 9% compounded monthly, how much principal will be repaid during the first year? O $5,472.07 O $2,005.36 O $6,120.06 O $3,986.66

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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The interest rate on a $65,000O loan is 9.8% compounded semiannually. Quarterly payments will pay off the loan in twelve years (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. Calculate the interest component of Payment 10. Interest b. Calculate the principal component of Payment 41. Principal c. Caldulate the total interest in Payments 29 to 40 inclusive. Total interest d. Calculate the reduction of principal in Year 3. Principal reduction
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What was the term of a $4850 loan at 4.5% if the interest due at the end was $145.50? Answer (need work shown): 8 months What annual rate of interest was earned if a $15,000 investment for 5 months earned $546.88 in interest? Answer (need work shown): 8.75%
A debt of $30,000 is repaid over 12 years with payments occurring quarterly. Interest is 9% compounded semi-annually. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 10? (c) What is the interest paid on payment 11? (d) How much principal is repaid in payment 11?
8. A $25,000 loan has a yearly 3.2% interest applied to it monthly. The loan is being paid off with monthly payments of $200 per month. How much is still owed on the loan after one month of interest and payment has been applied? (1) $24,748.33 (3) $24,890.04 (2) $24,866.67 (4) $25,600.00
A $90,000 loan at 7.7% compounded semiannually requires monthly payments of $1,600. Calculate the final payment. O $1289.61 O $1291.47 O $1137.28 O $1165.92 O $1144.46
A $34,000 new car loan is taken out with the terms 9% APR for 48 months. How much are monthly payments on this loan? OA. $846.09 OB. $930.70 OC. $1,015.31 OD. $1,099.92
If $635 is borrowed for 220 days at 7.65% simple annual interest, how much will be repaid at the end of 220 days?
Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0". Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ fill in the blank 60 $ fill in the blank 61 $ fill in the blank 62 $ fill in the blank 63 $ fill in the blank 64 2 $ fill in the blank 65 $ fill in the blank 66 $ fill in the blank 67 $ fill in the blank 68 $ fill in the blank 69 3 $ fill in the blank 70 $ fill in the blank 71 $ fill in the blank 72 $ fill in the blank 73 $ fill in the blank 74 4 $ fill in the blank 75 $ fill in the blank 76 $ fill in the blank 77 $ fill in the blank 78 $ fill in the blank 79
A loan of $25,000 at an annual rate of 14% is repayable through 5 annual year-end payments. The annual payment amount is close to: Answer A. $7,282 B. $5,000 C. $3,500 D. $8156
A store amortizes a $75,000 loan at 10% compounded quarterly with quartlerly payments of $2985.72 for 10 years. How much will be the unpaid balance after 7 years?
A company borrows $100,000 with interest at j₁2 = 9%. The loan is to be amortized by monthly payments of $1550 for as long as necessary. A final smaller payment will be calculated so the loan will be exactly repaid. The outstanding balance immediately after the th th 88 payment is $796.44. What is the value of the 89" and final payment? O A. $790.51 B. $796.44 C. $802.41 D. $808.43

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