Prisha received a loan of $8,100 at 5.25% compounded monthly. He settled the loan making periodic payments at the end of every three months for 6 years, with the fir- payment made 3 years and 3 months from now. What was the size of the periodic payments? $ 0.00

Q: Karen takes an 8-year car loan of $50,000 at 2.14%, compounded monthly. If the payments are done at…

A: Monthly Compounding Loan Amount = 50,000 Time Period of loan = 8 years or 96 months Interest rate =…

Q: Karen obtained a $20,000 loan at 4% compounded semiannually. a-1. What monthly payment will repay…

A: Monthly payment refers to an amount that is paid every month for the repayment of a loan amount…

Q: Maria took out a loan for $7900 that charges an annual interest rate of 8.8% compounded quarterly.…

A: n=4 r=8.8/4/100=0.022 present value=7900

Q: Anna received a loan of $29,000 at 4.5% compounded semi-annually. He had to make payments at the end…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: months over 3 years at 7% per year compounded quarterly. much is Ana's quarterly payment?

A: Formula to calculate quarterly payment under loan: Annuity amount Loan…

Q: Caroline borrowed $1,500.00 at 9.00% p.a. She wants to settle this loan with 2 equal payments, one…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: a. Calculate the size of payments. 0.00 Round to the nearest cent b. Fill in the partial…

A: Monthly payments refer to the specified amount that a borrower is required to repay on a loan each…

Q: how much does he need to pay quarterly?

A: A stream of equal cash flows (CF) paid or received periodically is termed as annuity. Annuity due…

Q: Vince loaned a certain amount from a cooperative and promised to pay it back with 2.62 times his…

A: First we should assume the loan amount and use the effective quarterly interest rate.

Q: Brian received a 15 year loan of $285,000 to purchase a house. The interest rate on the loan was…

A: Mortgage loans are paid by equal periodic and fixed payments and these carry the payment of interest…

Q: Jordan received a $30,200 loan from a bank that was charging interest at 3.50% compounded…

A: The bank loan means the amount that is borrowed from the bank. The bank given loan to people after…

Q: Jillian and Collin borrowed $62,000 at 7.61% compounded monthly as a second mortgage loan against…

A: A mortgage is a covered loan taken to purchase a property with the property itself acting as…

Q: A mother borrowed P200.000 with 2% interest monthly and promised to pay the amount in 30 equal…

A: EMI or Equated monthly installment is an arrangement entered between the lending institution and the…

Q: Rahma borrowed OMR 600 at the rate of 12% from Bank Dhofar for 6 years. Find the interest she will…

A: Given taht, Loan amount = OMR600 Rate of interest = 12% Number of year for which loan has taken =…

Q: Jimmy paid off a mortgage by paying $700 per month for 12 years. What was the original amount of the…

A: The original amount of the mortgage refers to the initial principal balance or the total loan amount…

Q: CJ borrowed from a bank at 3.34% compounded semi-ann $1,049 at the end of every six months for 7…

A: The periodic payments are paid to pay the loan and these periodic payments carry the payment for…

Q: Lily purchased a boat valued at $19 000 on an installment plan requiring equal monthly payment for…

A:

Q: Corey received a $36,750 loan from a bank that was charging interest at 3.50% compounded…

A: We need to use loan amortization formula below to calculate semi-annual payment.  where P=Loan…

Q: Ruth bought an insurance for 66,000 at 6% to receive an annuity for 16 years. Find the specified…

A: A stream of equal cash flows (CF) paid or received periodically is termed as annuity. Annuity is…

Q: What was the size of the periodic payments?

A: First, we need to determine the equivalent interest rate as the loan is compounded monthly, but the…

Q: Karen obtained a $25,000 loan at 4.5% compounded semiannually. a-1. What monthly payment will repay…

A: The present value concept is useful for borrowers to assess the affordability of a loan. By…

Q: If Rochelle obtained a business loan of $205,000.00 at 4.67% compounded semi-annually, how much…

A: Business loan = $205,000.00 Interest Rate = 4.67% compounded semi-annually Time Period = 30 Years

Q: A couple borrows $935,000 for 7 years for the purchase of a vacation home at interest rate of 7…

A: The objective of the question is to calculate the annual payments on a loan and the reduction in the…

Q: Joyce pays P 2,000 every two months to settle his obligations for two years at 8% compounded…

A: Bimonthly payment (B) = P 2000 r = 8% compounded bimonthly = 8%/6 bimonthly = 1.3333% n = 2 years =…

Q: a) i) Ali is paying off a loan by making $50 payments at the end of every month for 2 years, at 6%,…

A: Loan is a borrowed amount taken for the purpose of completing the shortage of funds. When an…

Q: O a. $1,054,602.46 b. $1,044,056.44 c. $970,234.27 d. $1,022,964.39 O e. $991,326.31

A: First, we need to calculate the bi-weekly payment amount. We know the mortgage amount, the interest…

Q: Amber received a 15 year loan of $245,000 to purchase a house. The interest rate on the loan was…

A: Answer information:Step 1:a. Monthly Loan PaymentWe can find the monthly payment using the loan…

Q: Jacob has just agreed to take a loan that will require him to make payments of $107 at the end of…

A: Loan amount refers to an amount that is paid every month for the repayment of a loan by the borrower…

Q: Mr. Joe  takes a loan P amount from the bank. The loan attracts an interest of 1.5% per month…

A: future value = present value×ert where, r=rate of interest t=time in years

Q: Tom Bond borrowed $6,200 at 6-% for three years compounded annually. What is the compound amount of…

A: Compound amount = Principal(1 + Rate/100)t Interest = Compound amount - Principal

Q: Sonia borrowed $7829.00 compounded monthly to help finance her education. She contracted to repay…

A: It can be calculated using=NPER(rate,pmt,pv,[fv],[type])Rate The interest rate for the loan.Nper…

Q: emi-annually. It provided him with payments of $2,000 at the end of every month for 3 ears. If the…

A: Value that is paid for the periodic payment is present value of monthly payment that are based on…

Q: Gabrielle received a loan at 6% p.a. simple interest for 8 months. If he was charged an interest of…

A: Interest rate = 6%Number of periods = 8 monthsInterest received = $272.00

Q: Matt borrowed $23,000 at 5.5% compounded semi-annually. If the loan is to be repaid in equal…

A: Loan is contract between lender and borrower where lender provide funds to borrower that is repaid…

Q: Anushka and Benicio borrowed $47,000 at 7% compounded semi-annually as a second mortgage loan…

A: Loan amortization involves paying off a debt over time in equal installments. Part of each payment…

Q: Ma. Nochna Pula borrowed $10,000 at 6% annual compound interest. She agreed to repay the loan with…

A: Annual payment can be calculated using the present value of annuity formula. Present value of…

Q: Emily received a 25 year loan of $295,000 to purchase a house. The interest rate on the loan was…

A: Mortgage loans are paid with equal and fixed monthly payments that include both the payment for…

Q: Jason takes out a loan at 10% compounded annually for 7 years. At the end of this period, he pays…

A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…