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: correct Answer
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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: correct Answer
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- The amount that will remain to be paid?Suppose that $10,000 is borrowed now at 15% interest per year. A partial repayment of $3,000 is made four years from now. The amount that will remain to be paid then is most nearly: A. $7,000 B. $8,050 C. $8,500 D. $13,000 E. $14,490Suppose that $10,000 is borrowed now at 15% interest per year.
- 1. Let's assume that a loan of $100,000 with an annual interest rate of 6% over 30 years pays monthly payments of $500. a. Calculate the accumulation rate b. Calculate the payment rate . c. Answer : How will the balance of the principal be at the end of the loan in relation to the original amount of the loan? Less, equal or greater? Provide calculations.Please provide the solution to this general accounting question with accurate financial calculations.a. Set up an amortization schedule for a GHȼ 25,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 10%. b. How large must each annual payment be if the loan is for GHȼ 50,000? Assume that the interest rate remains at 10% and that the loan is still paid off over 5 years. c. How large must each payment be if the loan is for GHȼ 50,000, the interest rate is 10%, and the loan is paid off in equal installments at the end of each of the next 10 years? This loan is for the same amount as the loan in part b, but the payments are spread out over twice as many periods. Why are these payments not half as large as the payments on the loan in part b?
- Find the present value of the given future amount. $183,714 for 321 days at 5.6% simple interest. Assume 360 days in a year. What is the present value? (Round to the nearest dollar as needed.)Suppose 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?with computation solution
- What annual interest rate paid for if: a) Payment of $5,000 per year for 6 years will repay an original loan of $25,000? b) Thirty-six monthly deposits of $100 will result in $4,500 at the end of three years? What is the effective interest rate for this case?Suppose a borrower makes a $100,000 loan with annual payments at a 10 percent rate and a 10-year term. The loan is fully amortizing; however, payments are made on an annual basis to simplify the initial illustration. How the annual loan payment is calculated?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)