John takes out a 5-year loan for $9,200 at interest compounded 7% Calculate his monthly payment. monthly.
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- John takes out a 5 year loan for $10000 at 8% interest compounded monthly. Calculate his monthly payment. John's monthly payment will be $ ZAMEN MAKFind the periodic payment for Alyssa's loan of $100,000 that has an annual interest rate of 5.5% compounded monthly for 25 years.Sara deposits $500 per month into an annuity. The annuity earns 5%.interest.compounded monthly. If she does this for 30 years, how much is in the annuity? Round to nearest whole dollar. S Enter a number, Submit Answer
- Desidero Garcia got a simple interest amortized loan for $20,000 at 7 3/8 % for five and half years. Find the monthly payment and the total interest that will be paid.Ll.151.Mr. Delima deposited P5,500 every 6 months to an account that earns 8% interest compounded annually. What type of annuity does this problem illustrate?
- To help buy his new townhome, Bill is taking out a s163,000 mortgage loan for 30 years at 3.4% annual interest. His monthly payment for this loan is $722.87. Fill in all the blanks in the amortization schedule for the loan. Assume 1 that each month is of a year. Round your answers to the nearest cent. 12 Interest Payment number Principal New loan payment payment balance 1 $162,477.18 130 $346.85 $376.02 $122,041.32 131ABC bank loans $250,000 to Yossarian to purchase a new home. Yossarian will repay the note in equal monthly payments over a period of 30 years. The interest rate is 12 percent. Required: If the monthly payment is $2,571.53, how much of the first payment is interest expense, and how much is principal repayment?\1. Cameron designates 10% of his monthly earnings as charitable contributions. After deducting this amount, he deposits 5% of the remaining amount into a money market account earning 2%. If Cameron's monthly earnings are $4,800 what amount interest will he earn on his deposit each month? 2. Find the maturity value for a loan on $4,225 at 8% made on March 5 and due on May 5 of the same year. Assume a 365-day year. 3. Republic Bank advertises their interest rates at 7 % %. You decide to apply for a loan in the amount of $9,000 for 90 days. The bank grants your loan and the loan officer tells you that there is a document preparation fee of $150 that needs to be paid at the time you sign the documents for the loan. Find the APR. Assume a 360-day year. 4. You took out a loan of $5,000 on May 2 and went back on June 15 to make a payment of $1,200. The loan was at 4% for 1 year. What was your remaining balance after making that payment?
- 2) If Bob deposits $5000 at the end of each year for 14 years in an account paying 6% inter compounded annually, find the amount he will have on deposit.Nate bought a home for $143,000 with a down payment of $15,000. Nate's rate of interest is 6.75% for 20 years. Calculate his: A. Monthly payment Note: Round your answer to the nearest cent. B. First payment broken down into interest and principal Note: Round your "Principal" answer to the nearest cent. C. Balance of mortgage at end of month Note: Round your answer to the nearest cent.A couple borrows $180,000 at 5.4%, compounded monthly, ofr 30 years. After making 80 payments of $1011, they refinance at 4.8% compounded monthly for 25 years. with refinancing costs of %550 added to the new loan. A. find the amount refinanced B. find the new monthly payment C. how much is saved by refinancing
