Suppose that $12,000 is borrowed now at 12% interest per year. A partial repayment of $4,000 is made five years from now. The amount that will remain to be paid then is most nearly:
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The amount that will remain to be paid then is most nearly:
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- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuitySuppose you wish to borrow $60,000 at an annually compounded interest rate of 16% for a period of 14 years. What would be the annual repayment?Suppose that you will receive annual payments of $16,500 for a period of 10 years. The first payment will be made 6 years from now. If the interest rate is 7%, what is the present value of this stream of payments?
- You have borrowed $60,000 at an interest rate of10.5%. Equal payments will be made over a five-yearperiod. (The first payment will be made at the end ofthe first year.) What will the annual payment be, andwhat will the interest payment be for the fourth year?You are considering taking out a loan of $16,000.00 that will be paid back over 8 years with monthly payments of $216.55. If the interest rate is 6.8% compounded monthly, what would the unpaid balance be immediately after the thirty-fifth payment? What is the equity after the thirty-fifth payment? The unpaid balance would be $. The equity would be $Suppose you borrow $70,000 at 5.25% annual interest to be repaid with a fully amortized plan over 14 years (equal end-of-year payments). What is the annual payment? What is the total amount of principal and interest paid?
- You are considering taking out a loan of $6,000.00 that will be paid back over 10 years with quarterly payments. If the interest rate is 6.4% compounded quarterly, what would the unpaid balance be immediately after the eighth payment?Suppose you borrow $8500 for a term of five years at a simple interest and 8.25% APR. how much is the total (principal plus interest) you must pay back on the loan?Assume you borrow $2000 now at 7% per year for 10 years and must repay the loan in equal yearly payments. Determine the symbols involved and their values.
- Suppose an annuity pays $2000 at the end of each 3 month period for 3.5 years at an interest rate of 4%, compounded quarterly a. find the total number of periods b. find the real interest rate per period c. find the present value (give the formula)Today, you take out a $5000 loan at 10% simple interest, which is to be repaid with two equal payments at the end of the first year and at the end of the second year. Find the size of the payments using today as your focal dateYou are considering taking out a loan of $15,000.00 that will be paid back over 7 years with monthly payments of $224.20. If the interest rate is 6.7% compounded monthly, what would the unpaid balance be immediately after the twenty-fifth payment? The unpaid balance would be $ (Round to 2 decimal places.)