JPY Inc borrowed $705,000 for 30 years at a rate of 4.68% APR compounded monthly, with first payment due one-month from today. What is the equal monthly payment on this loan? A) 3697.98 B) 3673.85 C) 3647.93 D) 3620.19

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A: The present value of the quarterly payments is equal to the amount of the loan. Given:Loan amount =…

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A: To Find: Single Payment to settle debt four years from now

Q: Idaho International Inc. borrows $86,600 from a bank at 3.08% compounded semi-annually for 7 years…

A: Here,Compound = Semiannually = 2Present Value = pv = $86,600Interest Rate = r = 3.08 / 2 = 1.54%Time…

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A: Interest means the extra amount which we received because of investment made and will be paid in…

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Q: Calculate​

A: Year 1   Particular   Amount   Particular   Amount   Aount paid            27,000.00  Loan Taken…

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Q: 14) A loan of $8000 is to be repaid with monthly payments for three years at 12% interest compounded…

A:

Q: 2. $6500 was borrowed at an interest rate of 12% compounded semi-annually. If the loan is to be paid…

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A:

Q: wed $300,000.  The loan will to be repaid over the next three years with six semiannual payments,…

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Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.