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 MAKTom 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.)Angelica took out a 20-year loanfor $170,000 at 5.4% interest,compounded monthly. What isher monthly payment?
- 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 AnswerDesidero 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 1311. 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?
- Sosa gets a 5 year, $10,000 car loan with montly payments at 6% APR. What is the amount of his monthly payment? a) $193.33 b) $618.76 c) $2,373.96 d) $283.43Elaine borrows $1,000.00 from a credit card company at 19% annually for two years. Determine Elaine’s monthly payment. $50.41 $52.49 $100 $49.93Tom Bond borrowed $6,600 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 = $ (Round to the nearest cent as needed.) Compound interest = $ (Round to the nearest cent as needed.)
