John takes out a 5-year loan for $9,200 at interest compounded 7% Calculate his monthly payment. monthly.
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- John bought a car with cash value of P15,294 on the installment plan under the following terms: P4,312 cash upon delivery and the balance payable in 12 equal monthly payments. Assuming money is worth 5.23% compounded quarterly. What is his monthly payments? How much is his remaining debt at the end of eight months? Topic: AnnuityOwen borrowed $28,500 at 9% compounded monthly to buy a car. The loan will be repaid with equal monthly payments for 5 years. Calculate the interest and principal components of payment 12.Mr. Joe pays $2068 a month for the loan he took from a bank. If the total payment period is 3 years and the interest rate is 29% per year compounded monthly. Determine the amount of loan Mr Joe took?
- Jason's loan for $8500.00 is repaid by equal payments of $525.00 that are made at the end of every month. If his interest is 11% compounded semi-annually, how much will be paid out of pocket (in total) to repay the loan plus interest?Joyce pays P 2,000 every two months to settle his obligations for two years at 8% compounded bimonthly. Find the present value of the loan.Tom Bond borrowed $6,200 at 6,% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan? Compound amount = S (Round to the nearest cent as needed.)
- Ma. Nochna Pula borrowed $10,000 at 6% annual compound interest. She agreed to repay the loan with five equal annual payments at end of each year. How much is the annual payment?Josiah took out a 25-year loanfor $215,000 at 9.6% interest,compounded monthly. If hismonthly payment on the loan is$1893.41, how much of his firstpayment went toward notereduction?Angelica took out a 20-year loanfor $170,000 at 5.4% interest,compounded monthly. What isher monthly payment?
- Given the following information, Ankit took home loan of $100,000 for 10 years. Interest Rate: 10%, Calculate the Monthly Payment? $1,302.50 $1,321.51 $1,332.50 $1,322.502) Ahmet bought a new house for 1 100 000 TL and financed 70 percent of the purchase price with a mortgage loan at an monthly interest of 1,25 percent. Ahmet will repay the loan with 72 monthly equal payments starting next month. What are his monthly installments?c. By how much will the amortization period shorten if Shawn made an extra payment of $54,000 at the end of the year 3? years E months Express the answer in years and months, rounded to the next month
