Part III: Loan comparison Consider the following loan information. term loan A 180 loan B 180 months amt $375,000 $375,000 rate 6.0% 7.0% points 3% 1% prepay 2% 1% 7. Calculate the loan payments and APR for each loan. 8 Create a spreadsheet & chart which compares the effective cost of borrowing (EBC) under Loan A vs. Loan B for each year of loan repayment.

Part III: Loan comparison Consider the following loan information. term loan A 180 loan B 180 months amt $375,000 $375,000 rate 6.0% 7.0% points 3% 1% prepay 2% 1% 7. Calculate the loan payments and APR for each loan. 8 Create a spreadsheet & chart which compares the effective cost of borrowing (EBC) under Loan A vs. Loan B for each year of loan repayment.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 5FPE

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Calculation need to be done in "Excel format"
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ezto.mi Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.) Number of Total of monthly payments $5,849.76 Total finance monthly payments Amount Purchase price of a used car $5,793 Down charge $1,339.76 financed APR payment $1, 283 48 $4,510 13% Monthly Payment es By table By formula
A ezto.mheducation.com/ext/map/index.html?_con%3Dcon&external_browser%3D0&launchUrl-https%253A%252F%252Fblackboard.waketech.edu%252Fwebapps%252Fportal% Use the following amortization chart: Principal (loan) $88,000 Payment per $1,000 $ 5.68 Monthly mortgage payment $ 499.84 Rate of Selling price of home Down interest Years payment $ 5,000 $ 93,000 5.5% 30 What is the total cost of interest? (Do not round intermediate calculations. Round your answer to the nearest whole dollar.) Total cost of interest acer
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