3. Jumbo Bato borrowed money from Rovin Patila,payable for 3 years. If the interest rate per year is 9%,determine the following:a. Total interest due for each yearb. Total interest due after 3 yearsc. Total amount due after 3 yearsd. Total amount due after 100 days considering the loan was obtained on February14, 2020e. Total amount due after 5 months considering the loan was obtained in October 2021.

Data given: Interest rate (r) = 9% p.a. (assumed simple interest rate) n= 3 years Loan amount (P)…

Answered: Jumbo Bato borrowed money from Rovin…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Ross Land has a loan of $8,500 compounded quarterly for four years at 4%. What is the effective interest rate for the loan? Click here to view page 1 of the future value table. Click here to view page 2 of the future value table. The effective interest rate is %. (Round to two decimal places as needed.)
5) A loan is being repaid with payments of $750 at the end of each year for 25 years. The annual effective interest rate on the loan is 5%. Each loan payment received by the lender is immediately reinvested at an annual effective rate of 6%. a) Calculate the accumulated value of the lender's reinvested payments at the end of 25 years (i.e., immediately after the last payment is made on the loan). b) Find the effective yield rate earned by the lender over the 25-year period.
Answer the question by hands, please
Consider a home mortgage of $125,000 at a fixed APR of 4.5% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. ..... a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
Find the interest on a loan of $3300 at 7% if I borrow on April 7 and repay on June 2 using the following THREE time methods: Exact Time, Ordinary Time, AND Banker's Time
Complete the following from the first three lines of an amortization schedule for the following loan:You borrow $ 330000 with an annual interest rate of 6% over 20 years Starting principal = $ 330000New balance after month 1 payment = New balance after month 2 payment = New balance after month 3 payment =
ou were paying your fully amortising loan at 8.2% per annum for 12 years. The current monthly payment is $1,492 per month. What is the remaining loan balance at the end of year 2? Please rounded your answer to two decimal points (e.g. 8000.158 is rounded to 8000.16)
Investigate the effect of the term on simple interest amortized auto loans by finding the monthly payment and the total interest for a loan of $13,000 at 8 and 7/8% interest if the term is the following. (Round all answers to the nearest cent.) (a) 3 years. Payment $ Total interest $ (b) 4 years. Payment $ Total interest $ 4615 (c) 5 years. Payment Total interest Enter a number. XX XX XX
A loan of X is repaid with level payments of R payable at the end of each year for n years. You are given: (i) The interest paid in year 1 is 797.50. (ii) The principal repaid in year n-4 is 865. (iii) The principal outstanding at the end of year n-1 is 1,144.50. Determine X. A B с D E 9,500 10,000 10,500 11,000 11,500
1
Krista borrowed $13,169. The loan is to be repaid by three equal payments due in 91,183,269 and days from now respectively. Determine the size of the equal payments at an interest rate of 7% with a focal date of today.
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