Monthly payments are required on a $45,000 loan at 6.0% compounded monthly. The loan has an amortization period of 15 years (Round your answers to 2 decimal places.) a. Calculate the interest component of Payment 137 Interest component b. Calculate the principal component of Payment 76. Principal component c. Calculate the interest paid in Year 1, Interest paid

Monthly payments are required on a $45,000 loan at 6.0% compounded monthly. The loan has an amortization period of 15 years (Round your answers to 2 decimal places.) a. Calculate the interest component of Payment 137 Interest component b. Calculate the principal component of Payment 76. Principal component c. Calculate the interest paid in Year 1, Interest paid

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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Fill in an amortaization table for a loan of $9,300 to be paid back over 4 years, at an annual interest rate of 1.2% compounded semiannually. At each step, round your answers to the nearest cent and use these values to calculate the next. Payment Number Payment Amount Payment Amount to Interest Payment Amount to Debe Outstanding Pri 9300 2 3. 4 5. 6. 7. 8.
For a repayments schedule that starts at the end of year 5 at $A and proceeds for years 6 through 40 as $2A, $3A...... What is the value A if the principal of this loan is $100,000.00 and the interest rate is 10% compounded annually?
Find the monthly house payments necessary to amortize the following loan. What are the total payments and total amount of interest paid. 196,000 at 6.89% for 25 years
Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid. $201,000 at 7.02% for 15 years Question content area bottom Part 1 The monthly payments are (Round to the nearest cent.) Part 2 The total amount paid on the loan is (Round to the nearest cent.) Part 3 The total amount of interest paid is (Round to the nearest cent.)
Compute the size of the final payment for the following loan. Principal $ Periodic Payment $ Payment Period Payment Made at: Interest Rate % Compounding Period 8100 520 3 months beginning 8 quarterly The size of the final payment is $_ .?
You plan to borrow $25,000 at a 3.4% annual interest rate compounded annually. The terms require you to amortize the loan with 5 equal payments each made at the end of each year. You would like to construct an amortization schedule showing details of the payments. Answer the following questions, and choose the closest answer from the possible choices following each question: 1.To find the interest repaid in period 1 only in the financial calculator amortization worksheet, you enter P2 = 2.To find the interest repaid in period 1 only in the financial calculator amortization worksheet, you enter P1 = 3.How much total interest is repaid in periods 1 to 2?
You have obtained a loan from the bank for $50,000 at 11.0% compounded quarterly. You will have the loan paid off in 15 years. Your quarterly payment will be $1,900.00. 1. a) Label the amortization schedule (in words not symbols b) Construct a partial amortization schedule showing the details of the first payment
A $22,550 loan is to be settled by making payments of $6,862 at the end of every three months. The interest is 4.5% compounded semi-annually. a) Find the number of payments in the term. N Payment Number b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers. 0 1 2 3 4 Payment Amount ($) PMT $ 6,862 $ 6,862 6,862 = 3.37 $ 2,531.51 x Interest Portion ($) INT $254.64 X $180.03 X $104.57 X $28.27 X Principal Portion ($) PRN GA X FA FA 6,607.36 x Loan Balance ($) BAL $ 15,942.6 x FA $22,550 FA
Prepare an amortization schedule for a five-year loan of $70,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Year 1 2 3 4 5 $ Beginning Balance 70,000.00 $ 58,421.11 X 45,800.12 X 32,043.24 x 16,094.24 x > Answer is complete but not entirely correct. Total Interest Payment Payment 17,996.47 $ 17,996.47✔ 17,996.47 ✔ 17,996.47 ✔ 17,996.47✔ Answer is complete and correct. 6,300.00 $ 5,257.90 X 4,122.01 X Total interest paid $ 19,982.35 2,884.90 X 1,444.43 x Principal Payment Ending Balance How much total interest is paid over the life of the loan? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. 11,696.47 $ $ 58,303.53 12,738.57✔ 57,261.43 X 13,874.46 X 56,125.54 X 15,111.57 X 54,888.43 X 16,552.04 X 53,447.96 X
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The interest rate on a $65,000O loan is 9.8% compounded semiannually. Quarterly payments will pay off the loan in twelve years (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. Calculate the interest component of Payment 10. Interest b. Calculate the principal component of Payment 41. Principal c. Caldulate the total interest in Payments 29 to 40 inclusive. Total interest d. Calculate the reduction of principal in Year 3. Principal reduction

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