If I loaned 163,085 todayand promised to pay it backafter 5 years to the bankwith monthly payments thatstarts also by the time Ireceived my loaned amountwith an interest rate of 0.11compounded monthly.What is the monthly amountI must set aside to pay forthis loan?

Loan amount (P) = 163,085 Annual interest rate = 0.11 Monthly interest rate (r) = 0.11/12 =…

Answered: If I loaned 163,085 today and promised…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 18P

See similar textbooks

Similar questions

If I loaned 167,871 today and promised to pay it back after 5 years to the bank with monthly payments that starts also by the time I received my loaned amount with an interest rate of 0.14 compounded monthly. What is the monthly amount I must set aside to pay for this loan?
If I plan to avail of a loan today and I will start to pay it P9,689 at the start of every month up to 6 years charged by an interest rate of 11.8% compounded semi- annually. How much money will I take home today if I will avail of the loan, in pesos answer in two decimal places?
If you borrow $1700 and agree to repay the loan in sux equal annual payments at an interest rate of 11%, what will your payment be? what will your oayment be if you make the first payment on the loan immediately instead of at the end of the first year?
If I plan to avail of a loan today and I will pay it P7,338 every start of the month for 6 years charged by an interest rate of 11.6% compounded quarterly. How much money will I take home today if I will avail of the loan, in pesos, answer in two decimal places?
If I plan to avail of a loan today and I will pay it P6,208 every end of the month for 6 years charged by an interest rate of 11.29% compounded quarterly. How much money will I take home today if I will avail of the loan, in pesos, answer in two decimal places?
Tom is going to borrow $20000 at an interest rate of 5.25% p.a. calculated quarterly. Tom will make end-of-month repayments for 2 years. The effective rate for this loan is Reff = 0.0043559977 What will be Tom's monthly payment amount? Give your answer to the nearest penny.
The following loan is a simple interest amortized loan with monthly payments. (Round your answers to the nearest cent.) $7000, 0.085, 4 years (a) find the monthly payment (b) find the total interest
Answer the subquestions below: a. Mr. Formento pays at the end of every month for a loan that charges 5% interest compounded quarterly. What type of annuity certain is this? b. Determine the amount after 5 years of a P1,500 deposit every end of 3 months in an account paying 12% compounded quarterly. c. how much should be invested at the end of every six months at 12%compounded quarterly in order to accumulate P50,000 after 6 years?
a. If you borrow $1,100 and agree to repay the loan in six equal annual payments at an interest rate of 11%, what will your payment be? b. What will your payment be if you make the first payment on the loan immediately instead of at the end of the first year?
How much should I invest today and expect a reimbursement every other month with a ROR of 0.08 compounded bi-monthly for 4 years? i expect to receive every other month an amount of 5,245.
Please answer
Your bank offers 3 percent annual interest onsavings deposits. If you deposit $560 today, howmuch interest will you have earned at the end ofone year?

SEE MORE QUESTIONS

Recommended textbooks for you

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Pfin (with Mindtap, 1 Term Printed Access Card) (…

Finance

ISBN:

9780357033609

Author:

Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:

Cengage Learning

Corporate Fin Focused Approach

Finance

ISBN:

9781285660516

Author:

EHRHARDT

Publisher:

Cengage

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Pfin (with Mindtap, 1 Term Printed Access Card) (…

Finance

ISBN:

9780357033609

Author:

Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:

Cengage Learning

Corporate Fin Focused Approach

Finance

ISBN:

9781285660516

Author:

EHRHARDT

Publisher:

Cengage

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

If I loaned 163,085 today and promised to pay it back after 5 years to the bank with monthly payments that starts also by the time I received my loaned amount with an interest rate of 0.11 compounded monthly. What is the monthly amount I must set aside to pay for this loan?