ou borrow $207,000 to be repaid in monthly installments over the next 25 years. The first payment occurs one month from today. If the annualized interest rate for the loan is3.4%, how much principal is amortized in payment #52? Enter your answer as a positive number, and round to the nearest dollar. Note:- Don't use Excel and chatgpt

ou borrow $207,000 to be repaid in monthly installments over the next 25 years. The first payment occurs one month from today. If the annualized interest rate for the loan is3.4%, how much principal is amortized in payment #52? Enter your answer as a positive number, and round to the nearest dollar. Note:- Don't use Excel and chatgpt

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

Ef 391.
do not use excel
Plz don't use excel.
A loan has quarterly payments. The APR is 16%, and interest is compounded 12 time(s) per year. The effective interest rate that would be needed to find the payment amount for the loan is _%. Margin of error for correct responses: +/-.02 (%) Rounding and Formatting instructions: Do not enter dollar signs, percent signs, commas, X, or any words in your response. Do not round any intermediate work, but round your *final* response to 2 decimal places (example: if your answer is 12.3456, 12.3456%, or $12.3456, you should enter 12.35).
Not use excel
Prepare an amortization schedule for a five-year loan of $47,000. The interest rate is 7% per year, and the loan calls for equal annual payments. (Do not round intermediate calculations. Enter all amount as positive value. Round the final answers to 2 decimal places. Leave no cells blank - be certain to enter "O" wherever required.) Year 1 Beginning Balance $ 2 2 3 4 5 Total Payment $ Interest Payment Principal Payment Ending Balance $ How much interest is paid in the third year? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Interest paid $ How much total interest is paid over the life of the loan? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Total interest $
Suppose your car loan for 36 months has a monthly payment of $425. Immediately after the 30th payment, you want to pay the remaining balance in a lump sum. What lump sum amount must you pay if your interest is 4% compounded continuously? $7,977 $8,827 O$8,035 $2,277 $2,228
Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0". Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ fill in the blank 60 $ fill in the blank 61 $ fill in the blank 62 $ fill in the blank 63 $ fill in the blank 64 2 $ fill in the blank 65 $ fill in the blank 66 $ fill in the blank 67 $ fill in the blank 68 $ fill in the blank 69 3 $ fill in the blank 70 $ fill in the blank 71 $ fill in the blank 72 $ fill in the blank 73 $ fill in the blank 74 4 $ fill in the blank 75 $ fill in the blank 76 $ fill in the blank 77 $ fill in the blank 78 $ fill in the blank 79
Need hood explanation, don’t use excel please. Tsinoor takes out a loan of $6800. He will repay the loan over 5-years with semi-annual payments of $816 (first payment due in 6-months). Using linear interpolation, what rate of interest, j2 is being charged on the loan?
You have taken out a loan of $11,000.00 for 4 years at an APR of 4.6% (loans are always compounded and paid back monthly). Fill in the table below showing the first lines of the Armotization Table for this loan rounding all answers to the closest cent (i.e. to 2 decimal places): Payment number Payment amount Principal Amount Interest Balance 0) $11,000.00 1) $ $ $ 2) same as above $ $ 3) same as above $ $ Submit Question
Your education loan balance is currently $1800. It is charging you interest at 5.4% compoundedmonthly. Assuming you make no payments on it, how long will it take for the balance to reach$1900? (Please help on how to solve in TI-84 plus calculator)
Please do not answer this question in excel thank you in advance. A loan of $13,000 at 5.65% annually requires $2,938 interest. For how long is the money borrowed?

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