In the first payment on a 60- month, $10,000 car loan with an APR of 2.89%, how much pays off the principal?
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How much pays off the principal??
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- You borrow $5,000 at 10% per year and will pay off the loan in 3 equal annual payments starting 1 year after the loan is made. The end-of-year payments are $2,010.57. Which of the following is true for your payment at the end of year 2? a. Interest is $500.00 and principal is $1,510.57 b. Interest is $450.00 and principal is $1,560.57 c. Interest is $348.94 and principal is $1,661.63 d. Interest is $182.78 and principal is $1,827.79.Consider a loan of 800,000 which is to be amortized by 60 monthly payments. The interest rate is 12% converted monthly. 1. How much is the outstanding balance after the 36th payment? 2. How much of the 37th payment goes to pay the interest the principal?you obtained a $10000 loan at 1.5% compunded monthly. how much more interest will you pay in the second year compared to the third year of the loan
- what is the total amount of the monthly payments for a 5-year loan is $10,692. The APR is 7%. How much money was originally borrowed?You borrow $64,000 in the form of an unsubsidized loan at 3.98% APR. How much money do you owewhen you begin making payments six months after you graduate?A loan for $36, 000 was obtained to be paid off over 5 years at 5.5% P. A with monthly repayments. a) What are the required monthly payments? b) How much is paid in interest over the life of the loan?
- If a student loan was repaid by monthly payments of $800.00 in 5.0 years at 7.00% compounded semi-annually, how much interest was paid?Find the interest paid on a loan of $2,700 for one year at a simple interest rate of 11% per year. The interest on a loan is SFind the monthly payment and estimate the remaining balance (to the nearest dollar). Assume interest is on the unpaid balance. 10) 30-year car loan for $235,000 at 3.21%; remaining balance after 20 years.
