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?

Q: For how long will Markus have to make payments of $179 at the end of every year to repay a loan of…

A: Loan amount=$2130Annual payment=$179Interest rate=7%Compounding quarterly.

Q: What is the payment for a loan of $320000 with an interest rate of 8.13% compounded monthly for 6…

A: using financial calculator to solve the monthly payment

Q: A borrower obtains a fully amortizing loan for $80,000 at 10 percent for 7 year. Payments are…

A: A mortgage is a loan that allows a buyer to acquire a house or other real estate property and repay…

Q: payments due in 3 months and 6 months. What is the value of the two equal payments if money is worth…

A: We can determine the periodic payment using the formula below:The payments are made in 2…

Q: You plan to borrow $45,000 at a 7.5% annual interest rate. The terms require you to amortize the…

A: As per the time value of money, a dollar is worth more today than the same dollar in the future.…

Q: If you borrow $2800 and agree to repay the loan in 5 equal annual payments at an interest rate of…

A: Using excel PMT function to calculate the yearly payment

Q: Carlo paid P 13,500 after two years to fully pay his loan that costs P 10,000. What is the interest…

A: Loan to be repaid on maturity = C* ( 1+i)n Where C is the amount of loan borrowed  i is the periodic…

Q: I borrowed $10,000 at 4% on a 60-month term and found the monthly payment to be $184. How much do I…

A: The concept of time value of money will be used to answer this question.   (Note that you have…

Q: You are offered an add-on loan for $4,500 at 18% for 5 years. What is the monthly payment? What is…

A: Hello, I am only answering first question as per the policy and if you want others to be answered…

Q: A) How much should you deposit at the end of each month into an investment account that pays 8.5%…

A: Requirement is to save $1,000,000 in 35 years. Investor is going to deposit same amount at the end…

Q: a. If you borrow $1,100 and agree to repay the loan in six equal annual payments at an interest rate…

A: Part (a)Let the annual payment be P. Interest rate, i = 11%; n = period = number of payment =…

Q: You borrow $1,000 from the bank and agree to repay the loan over the next year in 12 equal monthly…

A: We can calculate the effective annual interest rate by applying the required formula taking the loan…

Q: PLEASE ANSWER IT ASAP FOR AN UPVOTE. I REALLY NEED IT NOW. 2. Jake deposits 1200 pesos at the end of…

A: Future value of annuity is the future value of all the stream of cash flows.

Q: Assuming that the interest is the only finance charge, how much interest would be paid on a 5,000…

A: Interest is the amount paid on a loan by the borrower to the lender above the principal amount to…

Q: You borrow $8000 to help pay your college expenses. You agree to repay the loan at the end of 8…

A: From the given information, Principal (P) = $8000 Time (t) = 8 years r = 8% = 0.08 Compounded…

Q: A worker is considering a loan of $97000 over 20 years at an interest rate of 7.9% p.a. with monthly…

A: The difficulty of distributing limited resources among numerous initiatives or investments is one…

Q: The following loan is a simple interest amortized loan with monthly payments. (Round your answers to…

A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…

Q: Jacob has just agreed to take a loan that will require him to make payments of $107 at the end of…

A: Loan amount refers to an amount that is paid every month for the repayment of a loan by the borrower…

Q: Our home loan, based on a rate of 3.24% APR compounded monthly, required 30 years of monthly…

A: Solution:- When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Q: Zach Taylor is settling a $20,000 loan due today by making 6 equal annual payments of $4,727.53.…

A: Present value of loan = $20,000 Annual payment = $4,727.53 Present value annuity factor = Present…

Q: Find the monthly house payments necessary to amortize the following loan. What are the total…

A: Loans can be secured and unsecured. The loan is the amount borrower takes from the bank or financial…

Q: The following loan is a simple interest amortized loan with monthly payments. $5000, 9%, 4 years (a)…

A: Given, The loan amount is $5,000 Rate is 9.50% Term of loan is 4 years

Q: Your bank offers 3 percent annual interest onsavings deposits. If you deposit $560 today, howmuch…

A: Time value of money: Time value of money refers to the concept that the value of money available at…

Q: how much do you need to repay for your yearly instalment if you had borrowed $20,000 at 10% for 5…

A: Year installment will be calculated by amount of borrowings divided by Present value of an ordinary…

Q: Pedro borrows P300,000.00 from lender  ABC today at 12% compounded monthly.          To fulfill his…

A: As you have asked a multiple subpart question, we will answer the first three subparts for you. To…

Q: Liam loaned an amount of 15,581 and he will pay it with an amount of 25,501 after 9 years. What is…

A:

Q: ou borrowed 12500 . you plan to pay back the loan over 10 years at an interest rate of 9.4%interest…

A: Interest rate is the proportion of a loan that is charged as interest to the borrower expressed as a…

Q: The terms of a loan call for monthly payments for 6 years at 9.6 percent interest. If you borrow…

A: The present Value of Ordinary Annuity refers to the concept which dictates today's value of a sum of…

Q: . What are the monthly loan payments? Enter your response below.

A: The monthly payment on a loan is the set amount that is recurrently paid to the lender over the…

Q: If I plan to avail of a loan today and I will pay it P7,338 every start of the month for 6 years…

A: monthly rate (r) = (1 + 11.6%/4)1/3 - 1 = 0.9575% FV = 0 N = 6*12 PMT = 7,338 use PV function in…

Q: You receive a car loan of $22,000 and must pay off the loan in 60 monthly installments. If your…

A: The periodic payment for a loan can be found using the PMT Function in excel. PMT = (RATE, NPER, PV,…

Q: You have applied for a loan at 3.5% annual interest rate with monthly payments for 15 year fully…

A: Amortization refers to the systematic and regular repayment of the loan amount. This repayment is…

Q: You borrow $7,000 to help pay your college expenses . You agree to repay the loan at the end of 4…

A: Given information: Principal amount is $7,000 Interest rate is 8% compounded quarterly Number of…

Q: Find the interest rates earned on each of the following:a. You borrow $720 and promise to pay back…

A: Given:

Q: If I plan to avail of a loan today and I will pay it P7,938 every end of the month for 6 years…

A: Equivalent annual rate = (1  + 11.09/4)4 - 1 = 11.56% Monthly rate (rate)= 1.1156^1/12 - 1 =…

Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.