TABLE 14.2 Loan amortization table (monthly payment per $1,000 to pay principal and interest on installment loan) Terms in months 7.50% 8% 8.50% 9% 10.00% 10.50% I1.00% 11.50% 12.00% $170.34 $170.58 $170.83 $171.20 $171.56 $171.81 $172.05 $172.30 $172.55 12 86.76 86.99 87.22 87.46 87.92 88.15 88.38 88.62 88.85 18 58.92 59.15 59.37 59.60 60.06 60.29 60.52 60.75 60.98 24 45.00 45.23 45.46 45.69 46.14 46.38 46.61 46.84 47.07 30 36.66 36.89 37.12 37.35 37.81 38.04 38.28 38.51 38.75 36 31.11 31.34 31.57 31.80 32.27 32.50 32.74 32.98 33.21 42 27.15 27.38 27.62 27.85 28.32 28.55 28.79 29.03 29.28 48 24.18 24.42 24.65 24.77 25.36 25.60 25.85 26.09 26.33 54 21.88 22.12 22.36 22.59 23.07 23.32 23.56 23.81 24.06 60 20.04 20.28 20.52 20.76 21.25 21.49 21.74 21.99 22.24 TABLE 14.2 (concluded) Terms in months 12.50% 13.00% 13.50% 14.00% 14.50% 15.00% 15.50% 16.00% 6. $172.80 $173.04 $173.29 $173.54 $173.79 $174.03 $174.28 $174.53 12 89.08 89.32 89.55 89.79 90.02 90.26 90.49 90.73 18 61.21 61.45 61.68 61.92 62.15 62.38 62.62 62.86 24 47.31 47.54 47.78 48.01 48.25 48.49 48.72 48.96 30 38.98 39.22 39.46 39.70 39.94 40.18 40.42 40.66 36 33.45 33.69 33.94 34.18 34.42 34.67 34.91 35.16 42 29.52 29.76 30.01 30.25 30.50 30.75 31.00 31.25 48 26.58 26.83 27.08 27.33 27.58 27.83 28.08 28.34 54 24.31 24.56 24.81 25.06 25.32 25.58 25.84 26.10 60 22.50 22.75 23.01 23.27 23.53 23.79 24.05 24.32 6. TABLE 14.1 (concluded) ANNU AL PERCENT AGE RATE NUM BER OF PAYMENTS 14.00% 14.25% 14.50% 14.75% 15.00% 15.25% 15.50% 15.75% L6.00% 16.25 16.50% 16.751 17.00% 17.25% 17.501 17.758 (FINANCE CHARGE PER $100 OF AMOUNT FINANCEDI 1.17 1.19 1.75 1,78 1.25 1.88 1.40 2.10 1.44 2.16 1.23 1.85 2.47 1.46 2.19 2.93 3.67 1.48 2.22 2.97 1.27 1.29 1.31 1.33 2.00 2.68 1.35 2.04 2.72 3.41 1.37 2.07 2.16 3.46 1.42 2.13 2.A5 3.57 1.21 1.82 1.91 1.94 1.97 2.64 3, 30 3.97 2.80 2.55 2.59 3.20 2. A9 3.62 4.35 2.34 2.38 2.43 2.51 3. 73 4.48 3.51 2.99 3.59 3.14 3.78 2.93 3.04 3.36 3.09 3.72 3.25 3.91 3.53 3.65 3.84 4.04 4.10 4.16 4.21 4.29 4.42 5.09 4.12 5.40 4.79 5.49 5.02 5.75 4.87 4.94 5.66 4.12 4.72 5.32 5.92 6.53 4.57 5.23 5.90 6.57 5.17 5.92 6.67 7.43 5.24 6.00 6.77 7.54 4.20 4.81 4.27 4.35 4.98 4.42 5.06 4.49 5.15 5.80 4.64 5.32 5.58 5.83 6.58 7.32 4.89 6.19 6.89 7.40 6.48 7.22 6.29 5.61 6. 25 6. 88 6.38 7.11 7.84 6.00 5.42 6.03 6.09 6.78 7.48 5.51 5.71 6.35 7.00 6.46 6.68 7.00 6.14 6.77 7. 36 R. 31 10 6.65 7.12 7.24 7.12 1.96 8.08 8.19 9.09 9.87 10.66 11.45 7. 53 8. 96 8.31 9.02 9.71 10.45 10.67 8.44 8.57 9. 30 10.04 10.78 10.95 11.11 8.70 9.45 10.20 10.35 8.05 8.18 8.83 11 12 13 14 15 7.14 7.74 7.27 7.89 8.51 9.13 9.76 7.40 7.66 8.31 8.97 1.19 8.45 9.12 1.92 8.59 9.27 9.79 9.96 10.12 10.79 9.16 9.59 8.03 8.66 9.30 9.94 10.11 10.29 10.47 10.64 10.A2 11.00 11.17 11.35 11.53 11.71 1l.08 12.06 8.17 8. 81 ה9.4 8.74 9.43 8.88 9.58 9.73 10.50 11.28 9.89 8.36 8.97 9.63 9.59 12.46 12.65 11.33 11.52 11.71 11.90 12.42 12.67 13.14 13.35 12.09 12.43 13.03 13.03 13.83 14.64 12.28 16 17 10.20 10.39 10.82 11.02 11.45 11. 66 12.07 12.30 12.70 12.93 13.17 13.41 13.64 13.8A 14.11 14.35 14.59 14.A2 12.4 13.43 13.63 14.42 10.58 10.77 11.22 10.95 11.14 11.42 11.62 11.82 12.02 12.08 12.29 12.22 12.50 12.72 12.93 13.23 13.57 13.99 14.21 18 11.87 13.78 12.97 13.19 13.41 14.31 14.54 14.76 14.99 15.22 15.06 15. 30 15.54 15.77 16.01 19 12.52 12.74 13.64 13.96 14.09 15.44 20 16.25 13.58 13.82 14.07 14.32 14.57 14.82 15.06 15.31 15.56 15.A1 16.06 16.31 16.56 16.81 17.07 21 22 23 24 25 15.00 15.26 15.5? 15.78 16.23 16.50 16.94 17.22 17.95 16.83 17.32 17.60 17.84 18.15 17.51 17. A0 LA.09 1H.37 1A.66 18.95 19.24 17. 88 18.70 19.53 19.45 19.75 20.05 20.36 16.04 16.78 16.30 17.05 16.57 13.96 14.22 14.59 14.87 15.23 15.51 14.48 14.74 15.14 15.80 15.87 16.17 16.46 16. 76 17.06 17.09 17.36 17.62 1A.43 15.41 16.08 15.68 15.96 16.65 17.35 17.65 1H. 37 18.85 19.15 16.37 18.25 1A. 55 20.87 21.19 21.69 21.84 27.1A 22.52 22.86 23.35 20.24 20.56 26 27 16.51 16.82 17.13 17.44 18.06 17.15 17.47 17.80 18.12 17.80 18.13 18.47 18.45 18.79 17.75 16.17 19.09 1A.6A 19.41 18.99 19.30 20.0A 20.A2 21.58 19.62 19.93 20.19 20.7I 18.76 18.80 19.14 19.47 19.A1 20.15 19. A3 20.18 18.44 21.04 21.37 22.02 19.74 20.48 21.16 21.50 21.14 28 19.49 20.53 20. A9 21.23 22.29 27.64 22.99 23.70 29 30 19.14 19.10 19.45 19.81 20.17 20.54 20.90 21.26 21.62 21.99 27.35 22.72 ?3.0A 23.45 23. A1 24.1A 24.55 19.75 31 32 20.12 20.49 20.87 21.24 21.61 20.40 20.79 21.17 21.56 21.95 22.33 22.65 23.06 21.99 22.72 22.37 23.11 22.74 23.12 23.50 23.49 23.50 23.9A 24.25 24.28 24.6A 24.64 25.46 25.02 25.40 25. A6 26.25 25.07 21.06 21.46 21.72 22.13 22.38 21.85 22.25 22.54 22.95 23.37 23.78 23.46 23.86 24.26 25.03 74.67 25.44 26.23 25.07 25.46 25.49 26. 29 26.29 26.70 27.1? 21.52 27. 96 25:月8 26.70 27.11 33 34 35 27.54 77.97 24.39 28.83 24.19 24.61 22.80 23.23 23. 65 24.08 24.51 24.94 25. 36 25.79 26.66 27.09 27.46 27.90 28.35 2A.R0 29.25 29.70 30.57 24.35 24.80 25.24 25.6A 26.12 26.57 27.01 27.80 28.59 29.36 36 23.04 23.48 23.92 23.70 24.16 25.97 26.24 26.7O 27.17 26.96 27.44 25.71 26.20 26.70 27.19 27.69 28.18 28.68 29.18 30. 18 24.61 25.06 25.30 25.77 25.51 26.42 26.8A 27.64 27.34 28.11 28.41 28.R9 29.68 28.26 2A. 17 29.64 30.49 30.85 31.34 29.18 37 38 39 40 10.10 30.96 31.A3 29.06 29.53 30.01 31.44 32.32 30.69 31.19 32.60 33.20 24.37 24.84 25.04 25.52 26.00 26.48 27.92 29.87 30. 36 31.6A 32.19 30.46 31.25 31.49 32.52 33.37 29.44 29.95 30.72 30.97 32.01 33.04 13.55 41 42 27.91 26.39 26.89 27.40 28.41 28.92 28.62 34.08 34.97 35.86 27.06 27.58 28.10 29.15 29.67 31.70 32.31 32. A4 33.90 27.74 28.27 28.81 29.34 29. 88 30.19 30.96 34.44 35.31 43 30.42 31.50 32.04 32.58 33.13 33.67 34.22 34. 76 33.39 34.20 35.07 35.63 35.92 30.62 31.17 31.72 32.28 32.83 44 45 28.42 29.11 28.97 29.67 29.52 30.07 30.23 30. 79 33.95 34.77 34.51 35. 35 36.19 37.08 36.76 37.66 31.36 31.92 32.49 33.06 33.63 36.50 31.52 32.10 32.68 33.26 33.44 34.03 34.AL 37.96 3A. A6 39. 75 46 29.79 30. 36 33.84 34.43 35.01 35.60 36.139 36.78 37.37 38.56 31.66 32.25 32.98 33.71 34.63 35.23 35.83 36.43 37.04 37.64 39.46 40.37 47 30.48 31.07 31.17 31.86 31.77 32.37 32.48 33.09 32.84 33.59 3A.25 39.13 3A. 74 39.37 40.01 34.20 35.42 36.03 36.84 37.65 36.65 37.47 48 37.27 37. 8A 38.5o 35.59 36.21 39.10 34. 34 35.09 34.96 35. 73 36.37 37.01 40.65 41.29 42.20 49 50 32.55 33.18 33.82 34. 45 38.30 3A.94 39.59 40.24 40.89 41.55 33.25 33.95 34.65 37.81 38.46 39.17 39.79 40.45 40.63 41.31 41.48 42.17 42.33 43.04 35. 19 35.84 41.7A 36.49 37.15 37.94 38.72 41.11 41.99 42.67 42.97 42.45 43.36 44.27 43.12 44.04 44.97 45.90 51 33. 89 34.61 35. 32 36. 04 34.54 35.27 36.00 36.73 36.60 37.27 37.36 38.04 36.12 38.82 38.61 39.41 40.22 39.28 39.96 40.79 40.92 41.63 52 35.93 36. 68 37.42 ЗА. 17 40.10 43.57 43.75 44.47 45.37 53 54 35.35 39.52 45.18 55 36.05 36.76 37.46 38.88 39.60 40.31 41.03 41.74 42.47 43.19 43.91 44.64 46.10 46.83 45.53 46.42 46.54 47.32 48.09 38.20 38.92 41.11 41.91 41.84 42.57 43.31 44.05 46.27 47.02 47.77 4P.71 49.65 56 36.76 37.47 38.18 38.93 39.68 40. 43 37.48 40.38 41.16 41.19 41.95 42.71 39.65 44.79 45.66 38.20 38.94 39. 68 40.42 43.40 42.65 43.47 44.23 43.51 44.29 45.07 45.11 45.91 44.15 44.41 45.77 57 47.18 47.94 58 45.00 48.47 45.85 48.21 49.12 49.01 49.92 39.66 41.19 41.96 42.74 46.64 47.42 47.51 48.31 49.80 50.60 59 60 38.89 40.42 39.61 40.39 41.17 41.95 42.74 43.53 44.32 46.71 50.73 51.55
TABLE 14.2 Loan amortization table (monthly payment per $1,000 to pay principal and interest on installment loan) Terms in months 7.50% 8% 8.50% 9% 10.00% 10.50% I1.00% 11.50% 12.00% $170.34 $170.58 $170.83 $171.20 $171.56 $171.81 $172.05 $172.30 $172.55 12 86.76 86.99 87.22 87.46 87.92 88.15 88.38 88.62 88.85 18 58.92 59.15 59.37 59.60 60.06 60.29 60.52 60.75 60.98 24 45.00 45.23 45.46 45.69 46.14 46.38 46.61 46.84 47.07 30 36.66 36.89 37.12 37.35 37.81 38.04 38.28 38.51 38.75 36 31.11 31.34 31.57 31.80 32.27 32.50 32.74 32.98 33.21 42 27.15 27.38 27.62 27.85 28.32 28.55 28.79 29.03 29.28 48 24.18 24.42 24.65 24.77 25.36 25.60 25.85 26.09 26.33 54 21.88 22.12 22.36 22.59 23.07 23.32 23.56 23.81 24.06 60 20.04 20.28 20.52 20.76 21.25 21.49 21.74 21.99 22.24 TABLE 14.2 (concluded) Terms in months 12.50% 13.00% 13.50% 14.00% 14.50% 15.00% 15.50% 16.00% 6. $172.80 $173.04 $173.29 $173.54 $173.79 $174.03 $174.28 $174.53 12 89.08 89.32 89.55 89.79 90.02 90.26 90.49 90.73 18 61.21 61.45 61.68 61.92 62.15 62.38 62.62 62.86 24 47.31 47.54 47.78 48.01 48.25 48.49 48.72 48.96 30 38.98 39.22 39.46 39.70 39.94 40.18 40.42 40.66 36 33.45 33.69 33.94 34.18 34.42 34.67 34.91 35.16 42 29.52 29.76 30.01 30.25 30.50 30.75 31.00 31.25 48 26.58 26.83 27.08 27.33 27.58 27.83 28.08 28.34 54 24.31 24.56 24.81 25.06 25.32 25.58 25.84 26.10 60 22.50 22.75 23.01 23.27 23.53 23.79 24.05 24.32 6. TABLE 14.1 (concluded) ANNU AL PERCENT AGE RATE NUM BER OF PAYMENTS 14.00% 14.25% 14.50% 14.75% 15.00% 15.25% 15.50% 15.75% L6.00% 16.25 16.50% 16.751 17.00% 17.25% 17.501 17.758 (FINANCE CHARGE PER $100 OF AMOUNT FINANCEDI 1.17 1.19 1.75 1,78 1.25 1.88 1.40 2.10 1.44 2.16 1.23 1.85 2.47 1.46 2.19 2.93 3.67 1.48 2.22 2.97 1.27 1.29 1.31 1.33 2.00 2.68 1.35 2.04 2.72 3.41 1.37 2.07 2.16 3.46 1.42 2.13 2.A5 3.57 1.21 1.82 1.91 1.94 1.97 2.64 3, 30 3.97 2.80 2.55 2.59 3.20 2. A9 3.62 4.35 2.34 2.38 2.43 2.51 3. 73 4.48 3.51 2.99 3.59 3.14 3.78 2.93 3.04 3.36 3.09 3.72 3.25 3.91 3.53 3.65 3.84 4.04 4.10 4.16 4.21 4.29 4.42 5.09 4.12 5.40 4.79 5.49 5.02 5.75 4.87 4.94 5.66 4.12 4.72 5.32 5.92 6.53 4.57 5.23 5.90 6.57 5.17 5.92 6.67 7.43 5.24 6.00 6.77 7.54 4.20 4.81 4.27 4.35 4.98 4.42 5.06 4.49 5.15 5.80 4.64 5.32 5.58 5.83 6.58 7.32 4.89 6.19 6.89 7.40 6.48 7.22 6.29 5.61 6. 25 6. 88 6.38 7.11 7.84 6.00 5.42 6.03 6.09 6.78 7.48 5.51 5.71 6.35 7.00 6.46 6.68 7.00 6.14 6.77 7. 36 R. 31 10 6.65 7.12 7.24 7.12 1.96 8.08 8.19 9.09 9.87 10.66 11.45 7. 53 8. 96 8.31 9.02 9.71 10.45 10.67 8.44 8.57 9. 30 10.04 10.78 10.95 11.11 8.70 9.45 10.20 10.35 8.05 8.18 8.83 11 12 13 14 15 7.14 7.74 7.27 7.89 8.51 9.13 9.76 7.40 7.66 8.31 8.97 1.19 8.45 9.12 1.92 8.59 9.27 9.79 9.96 10.12 10.79 9.16 9.59 8.03 8.66 9.30 9.94 10.11 10.29 10.47 10.64 10.A2 11.00 11.17 11.35 11.53 11.71 1l.08 12.06 8.17 8. 81 ה9.4 8.74 9.43 8.88 9.58 9.73 10.50 11.28 9.89 8.36 8.97 9.63 9.59 12.46 12.65 11.33 11.52 11.71 11.90 12.42 12.67 13.14 13.35 12.09 12.43 13.03 13.03 13.83 14.64 12.28 16 17 10.20 10.39 10.82 11.02 11.45 11. 66 12.07 12.30 12.70 12.93 13.17 13.41 13.64 13.8A 14.11 14.35 14.59 14.A2 12.4 13.43 13.63 14.42 10.58 10.77 11.22 10.95 11.14 11.42 11.62 11.82 12.02 12.08 12.29 12.22 12.50 12.72 12.93 13.23 13.57 13.99 14.21 18 11.87 13.78 12.97 13.19 13.41 14.31 14.54 14.76 14.99 15.22 15.06 15. 30 15.54 15.77 16.01 19 12.52 12.74 13.64 13.96 14.09 15.44 20 16.25 13.58 13.82 14.07 14.32 14.57 14.82 15.06 15.31 15.56 15.A1 16.06 16.31 16.56 16.81 17.07 21 22 23 24 25 15.00 15.26 15.5? 15.78 16.23 16.50 16.94 17.22 17.95 16.83 17.32 17.60 17.84 18.15 17.51 17. A0 LA.09 1H.37 1A.66 18.95 19.24 17. 88 18.70 19.53 19.45 19.75 20.05 20.36 16.04 16.78 16.30 17.05 16.57 13.96 14.22 14.59 14.87 15.23 15.51 14.48 14.74 15.14 15.80 15.87 16.17 16.46 16. 76 17.06 17.09 17.36 17.62 1A.43 15.41 16.08 15.68 15.96 16.65 17.35 17.65 1H. 37 18.85 19.15 16.37 18.25 1A. 55 20.87 21.19 21.69 21.84 27.1A 22.52 22.86 23.35 20.24 20.56 26 27 16.51 16.82 17.13 17.44 18.06 17.15 17.47 17.80 18.12 17.80 18.13 18.47 18.45 18.79 17.75 16.17 19.09 1A.6A 19.41 18.99 19.30 20.0A 20.A2 21.58 19.62 19.93 20.19 20.7I 18.76 18.80 19.14 19.47 19.A1 20.15 19. A3 20.18 18.44 21.04 21.37 22.02 19.74 20.48 21.16 21.50 21.14 28 19.49 20.53 20. A9 21.23 22.29 27.64 22.99 23.70 29 30 19.14 19.10 19.45 19.81 20.17 20.54 20.90 21.26 21.62 21.99 27.35 22.72 ?3.0A 23.45 23. A1 24.1A 24.55 19.75 31 32 20.12 20.49 20.87 21.24 21.61 20.40 20.79 21.17 21.56 21.95 22.33 22.65 23.06 21.99 22.72 22.37 23.11 22.74 23.12 23.50 23.49 23.50 23.9A 24.25 24.28 24.6A 24.64 25.46 25.02 25.40 25. A6 26.25 25.07 21.06 21.46 21.72 22.13 22.38 21.85 22.25 22.54 22.95 23.37 23.78 23.46 23.86 24.26 25.03 74.67 25.44 26.23 25.07 25.46 25.49 26. 29 26.29 26.70 27.1? 21.52 27. 96 25:月8 26.70 27.11 33 34 35 27.54 77.97 24.39 28.83 24.19 24.61 22.80 23.23 23. 65 24.08 24.51 24.94 25. 36 25.79 26.66 27.09 27.46 27.90 28.35 2A.R0 29.25 29.70 30.57 24.35 24.80 25.24 25.6A 26.12 26.57 27.01 27.80 28.59 29.36 36 23.04 23.48 23.92 23.70 24.16 25.97 26.24 26.7O 27.17 26.96 27.44 25.71 26.20 26.70 27.19 27.69 28.18 28.68 29.18 30. 18 24.61 25.06 25.30 25.77 25.51 26.42 26.8A 27.64 27.34 28.11 28.41 28.R9 29.68 28.26 2A. 17 29.64 30.49 30.85 31.34 29.18 37 38 39 40 10.10 30.96 31.A3 29.06 29.53 30.01 31.44 32.32 30.69 31.19 32.60 33.20 24.37 24.84 25.04 25.52 26.00 26.48 27.92 29.87 30. 36 31.6A 32.19 30.46 31.25 31.49 32.52 33.37 29.44 29.95 30.72 30.97 32.01 33.04 13.55 41 42 27.91 26.39 26.89 27.40 28.41 28.92 28.62 34.08 34.97 35.86 27.06 27.58 28.10 29.15 29.67 31.70 32.31 32. A4 33.90 27.74 28.27 28.81 29.34 29. 88 30.19 30.96 34.44 35.31 43 30.42 31.50 32.04 32.58 33.13 33.67 34.22 34. 76 33.39 34.20 35.07 35.63 35.92 30.62 31.17 31.72 32.28 32.83 44 45 28.42 29.11 28.97 29.67 29.52 30.07 30.23 30. 79 33.95 34.77 34.51 35. 35 36.19 37.08 36.76 37.66 31.36 31.92 32.49 33.06 33.63 36.50 31.52 32.10 32.68 33.26 33.44 34.03 34.AL 37.96 3A. A6 39. 75 46 29.79 30. 36 33.84 34.43 35.01 35.60 36.139 36.78 37.37 38.56 31.66 32.25 32.98 33.71 34.63 35.23 35.83 36.43 37.04 37.64 39.46 40.37 47 30.48 31.07 31.17 31.86 31.77 32.37 32.48 33.09 32.84 33.59 3A.25 39.13 3A. 74 39.37 40.01 34.20 35.42 36.03 36.84 37.65 36.65 37.47 48 37.27 37. 8A 38.5o 35.59 36.21 39.10 34. 34 35.09 34.96 35. 73 36.37 37.01 40.65 41.29 42.20 49 50 32.55 33.18 33.82 34. 45 38.30 3A.94 39.59 40.24 40.89 41.55 33.25 33.95 34.65 37.81 38.46 39.17 39.79 40.45 40.63 41.31 41.48 42.17 42.33 43.04 35. 19 35.84 41.7A 36.49 37.15 37.94 38.72 41.11 41.99 42.67 42.97 42.45 43.36 44.27 43.12 44.04 44.97 45.90 51 33. 89 34.61 35. 32 36. 04 34.54 35.27 36.00 36.73 36.60 37.27 37.36 38.04 36.12 38.82 38.61 39.41 40.22 39.28 39.96 40.79 40.92 41.63 52 35.93 36. 68 37.42 ЗА. 17 40.10 43.57 43.75 44.47 45.37 53 54 35.35 39.52 45.18 55 36.05 36.76 37.46 38.88 39.60 40.31 41.03 41.74 42.47 43.19 43.91 44.64 46.10 46.83 45.53 46.42 46.54 47.32 48.09 38.20 38.92 41.11 41.91 41.84 42.57 43.31 44.05 46.27 47.02 47.77 4P.71 49.65 56 36.76 37.47 38.18 38.93 39.68 40. 43 37.48 40.38 41.16 41.19 41.95 42.71 39.65 44.79 45.66 38.20 38.94 39. 68 40.42 43.40 42.65 43.47 44.23 43.51 44.29 45.07 45.11 45.91 44.15 44.41 45.77 57 47.18 47.94 58 45.00 48.47 45.85 48.21 49.12 49.01 49.92 39.66 41.19 41.96 42.74 46.64 47.42 47.51 48.31 49.80 50.60 59 60 38.89 40.42 39.61 40.39 41.17 41.95 42.74 43.53 44.32 46.71 50.73 51.55
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
Related questions
Question
Joyce Mesnic bought an HP laptop computer at Staples for $699. Joyce made a $100 down payment and financed the balance at 10% for 12 months. What is her monthly payment? (Use the loan amortization table.) (Round your answer to the nearest cent.)
I need help figuring up the monthly payment. Please explain in detail.
Transcribed Image Text:TABLE
14.2
Loan amortization table (monthly payment per $1,000 to pay principal and interest on installment loan)
Terms in
months
7.50%
8%
8.50%
9%
10.00%
10.50%
I1.00%
11.50%
12.00%
$170.34
$170.58
$170.83
$171.20
$171.56
$171.81
$172.05
$172.30
$172.55
12
86.76
86.99
87.22
87.46
87.92
88.15
88.38
88.62
88.85
18
58.92
59.15
59.37
59.60
60.06
60.29
60.52
60.75
60.98
24
45.00
45.23
45.46
45.69
46.14
46.38
46.61
46.84
47.07
30
36.66
36.89
37.12
37.35
37.81
38.04
38.28
38.51
38.75
36
31.11
31.34
31.57
31.80
32.27
32.50
32.74
32.98
33.21
42
27.15
27.38
27.62
27.85
28.32
28.55
28.79
29.03
29.28
48
24.18
24.42
24.65
24.77
25.36
25.60
25.85
26.09
26.33
54
21.88
22.12
22.36
22.59
23.07
23.32
23.56
23.81
24.06
60
20.04
20.28
20.52
20.76
21.25
21.49
21.74
21.99
22.24
TABLE 14.2
(concluded)
Terms in
months
12.50%
13.00%
13.50%
14.00%
14.50%
15.00%
15.50%
16.00%
6.
$172.80
$173.04
$173.29
$173.54
$173.79
$174.03
$174.28
$174.53
12
89.08
89.32
89.55
89.79
90.02
90.26
90.49
90.73
18
61.21
61.45
61.68
61.92
62.15
62.38
62.62
62.86
24
47.31
47.54
47.78
48.01
48.25
48.49
48.72
48.96
30
38.98
39.22
39.46
39.70
39.94
40.18
40.42
40.66
36
33.45
33.69
33.94
34.18
34.42
34.67
34.91
35.16
42
29.52
29.76
30.01
30.25
30.50
30.75
31.00
31.25
48
26.58
26.83
27.08
27.33
27.58
27.83
28.08
28.34
54
24.31
24.56
24.81
25.06
25.32
25.58
25.84
26.10
60
22.50
22.75
23.01
23.27
23.53
23.79
24.05
24.32
6.
Transcribed Image Text:TABLE
14.1
(concluded)
ANNU AL PERCENT AGE RATE
NUM BER
OF
PAYMENTS 14.00% 14.25% 14.50% 14.75% 15.00% 15.25% 15.50% 15.75% L6.00% 16.25 16.50% 16.751 17.00% 17.25% 17.501 17.758
(FINANCE CHARGE PER $100 OF AMOUNT FINANCEDI
1.17
1.19
1.75 1,78
1.25
1.88
1.40
2.10
1.44
2.16
1.23
1.85
2.47
1.46
2.19
2.93
3.67
1.48
2.22
2.97
1.27 1.29
1.31
1.33
2.00
2.68
1.35
2.04
2.72
3.41
1.37
2.07
2.16
3.46
1.42
2.13
2.A5
3.57
1.21
1.82
1.91
1.94
1.97
2.64
3, 30
3.97
2.80
2.55 2.59
3.20
2. A9
3.62
4.35
2.34
2.38
2.43
2.51
3. 73
4.48
3.51
2.99
3.59
3.14
3.78
2.93
3.04
3.36
3.09
3.72
3.25
3.91
3.53
3.65
3.84
4.04
4.10
4.16
4.21
4.29
4.42
5.09
4.12
5.40
4.79
5.49
5.02
5.75
4.87
4.94
5.66
4.12
4.72
5.32
5.92
6.53
4.57
5.23
5.90
6.57
5.17
5.92
6.67
7.43
5.24
6.00
6.77
7.54
4.20
4.81
4.27
4.35
4.98
4.42
5.06
4.49
5.15
5.80
4.64
5.32
5.58
5.83
6.58
7.32
4.89
6.19
6.89
7.40
6.48
7.22
6.29
5.61
6. 25
6. 88
6.38
7.11
7.84
6.00
5.42
6.03
6.09
6.78
7.48
5.51
5.71
6.35
7.00
6.46
6.68
7.00
6.14
6.77
7. 36
R. 31
10
6.65
7.12
7.24
7.12
1.96
8.08
8.19
9.09
9.87
10.66
11.45
7. 53
8. 96
8.31
9.02
9.71
10.45 10.67
8.44
8.57
9. 30
10.04
10.78 10.95 11.11
8.70
9.45
10.20 10.35
8.05
8.18
8.83
11
12
13
14
15
7.14
7.74
7.27
7.89
8.51
9.13
9.76
7.40
7.66
8.31
8.97
1.19
8.45
9.12
1.92
8.59
9.27
9.79 9.96 10.12 10.79
9.16
9.59
8.03
8.66
9.30
9.94 10.11 10.29 10.47 10.64 10.A2 11.00 11.17 11.35 11.53 11.71 1l.08 12.06
8.17
8. 81
ה9.4
8.74
9.43
8.88
9.58
9.73
10.50
11.28
9.89
8.36
8.97
9.63
9.59
12.46 12.65
11.33 11.52 11.71 11.90
12.42 12.67
13.14 13.35
12.09
12.43 13.03
13.03
13.83
14.64
12.28
16
17
10.20 10.39
10.82 11.02
11.45 11. 66
12.07 12.30
12.70 12.93 13.17 13.41 13.64 13.8A 14.11 14.35 14.59 14.A2
12.4
13.43 13.63
14.42
10.58 10.77
11.22
10.95 11.14
11.42 11.62 11.82 12.02
12.08 12.29
12.22
12.50 12.72 12.93
13.23
13.57 13.99 14.21
18
11.87
13.78
12.97 13.19 13.41
14.31 14.54 14.76 14.99 15.22
15.06 15. 30 15.54 15.77 16.01
19
12.52
12.74
13.64
13.96 14.09
15.44
20
16.25
13.58 13.82 14.07
14.32 14.57 14.82 15.06
15.31 15.56
15.A1 16.06 16.31 16.56 16.81
17.07
21
22
23
24
25
15.00 15.26 15.5? 15.78
16.23 16.50
16.94 17.22
17.95
16.83
17.32 17.60 17.84 18.15
17.51 17. A0 LA.09 1H.37 1A.66 18.95 19.24
17. 88
18.70
19.53
19.45 19.75 20.05 20.36
16.04
16.78
16.30
17.05
16.57
13.96 14.22
14.59 14.87
15.23 15.51
14.48 14.74
15.14
15.80
15.87 16.17 16.46 16. 76 17.06
17.09 17.36 17.62
1A.43
15.41
16.08
15.68
15.96
16.65
17.35 17.65
1H. 37
18.85 19.15
16.37
18.25 1A. 55
20.87 21.19
21.69
21.84 27.1A 22.52 22.86
23.35
20.24 20.56
26
27
16.51 16.82 17.13 17.44 18.06
17.15 17.47 17.80 18.12
17.80 18.13 18.47
18.45 18.79
17.75
16.17
19.09
1A.6A
19.41
18.99 19.30
20.0A
20.A2
21.58
19.62 19.93
20.19 20.7I
18.76
18.80 19.14 19.47 19.A1 20.15
19. A3 20.18
18.44
21.04 21.37
22.02
19.74
20.48
21.16 21.50
21.14
28
19.49
20.53
20. A9
21.23
22.29 27.64 22.99
23.70
29
30
19.14
19.10 19.45 19.81 20.17 20.54 20.90 21.26 21.62
21.99 27.35 22.72 ?3.0A 23.45 23. A1
24.1A 24.55
19.75
31
32
20.12 20.49 20.87 21.24 21.61
20.40 20.79 21.17 21.56 21.95 22.33
22.65 23.06
21.99
22.72
22.37
23.11
22.74 23.12
23.50
23.49
23.50 23.9A 24.25
24.28 24.6A
24.64
25.46
25.02
25.40
25. A6 26.25
25.07
21.06 21.46
21.72
22.13
22.38
21.85 22.25
22.54 22.95 23.37 23.78
23.46
23.86
24.26
25.03
74.67
25.44
26.23
25.07
25.46
25.49
26. 29
26.29
26.70 27.1?
21.52 27. 96
25:月8
26.70
27.11
33
34
35
27.54
77.97
24.39 28.83
24.19
24.61
22.80 23.23 23. 65
24.08 24.51 24.94 25. 36
25.79
26.66 27.09
27.46 27.90 28.35 2A.R0 29.25 29.70
30.57
24.35 24.80 25.24 25.6A 26.12 26.57
27.01
27.80
28.59
29.36
36
23.04 23.48 23.92
23.70 24.16
25.97
26.24 26.7O 27.17
26.96 27.44
25.71 26.20 26.70 27.19 27.69 28.18 28.68 29.18 30. 18
24.61
25.06
25.30 25.77
25.51
26.42
26.8A
27.64
27.34
28.11
28.41 28.R9
29.68
28.26
2A. 17
29.64
30.49
30.85 31.34
29.18
37
38
39
40
10.10
30.96
31.A3
29.06 29.53 30.01
31.44
32.32
30.69 31.19 32.60 33.20
24.37 24.84
25.04 25.52
26.00 26.48
27.92
29.87
30. 36
31.6A 32.19
30.46
31.25
31.49
32.52
33.37
29.44
29.95
30.72
30.97
32.01
33.04
13.55
41
42
27.91
26.39 26.89 27.40 28.41 28.92
28.62
34.08
34.97
35.86
27.06
27.58
28.10
29.15
29.67
31.70
32.31 32. A4
33.90
27.74 28.27 28.81 29.34 29. 88
30.19
30.96
34.44
35.31
43
30.42
31.50
32.04
32.58
33.13
33.67
34.22
34. 76
33.39
34.20
35.07 35.63
35.92
30.62 31.17
31.72
32.28
32.83
44
45
28.42
29.11
28.97
29.67
29.52 30.07
30.23
30. 79
33.95
34.77
34.51
35. 35
36.19
37.08
36.76
37.66
31.36
31.92 32.49
33.06
33.63
36.50
31.52 32.10 32.68 33.26
33.44 34.03
34.AL
37.96
3A. A6
39. 75
46
29.79
30. 36
33.84
34.43
35.01
35.60 36.139 36.78
37.37
38.56
31.66 32.25
32.98
33.71
34.63
35.23
35.83
36.43
37.04 37.64
39.46
40.37
47
30.48 31.07
31.17
31.86
31.77
32.37
32.48 33.09
32.84
33.59
3A.25
39.13
3A. 74 39.37 40.01
34.20
35.42
36.03
36.84
37.65
36.65
37.47
48
37.27
37. 8A 38.5o
35.59 36.21
39.10
34. 34
35.09
34.96
35. 73 36.37 37.01
40.65
41.29
42.20
49
50
32.55
33.18
33.82 34. 45
38.30
3A.94
39.59
40.24
40.89
41.55
33.25
33.95
34.65
37.81
38.46
39.17
39.79 40.45
40.63
41.31
41.48
42.17
42.33
43.04
35. 19 35.84
41.7A
36.49 37.15
37.94
38.72
41.11
41.99 42.67
42.97
42.45
43.36
44.27
43.12
44.04
44.97
45.90
51
33. 89
34.61
35. 32
36. 04
34.54
35.27
36.00
36.73
36.60 37.27
37.36
38.04
36.12
38.82
38.61
39.41
40.22
39.28
39.96
40.79
40.92 41.63
52
35.93
36. 68
37.42
ЗА. 17
40.10
43.57
43.75 44.47
45.37
53
54
35.35
39.52
45.18
55
36.05
36.76
37.46
38.88 39.60
40.31
41.03
41.74
42.47
43.19
43.91
44.64
46.10
46.83
45.53
46.42
46.54 47.32 48.09
38.20 38.92
41.11
41.91
41.84
42.57
43.31
44.05
46.27
47.02
47.77
4P.71
49.65
56
36.76
37.47
38.18 38.93 39.68 40. 43
37.48
40.38
41.16
41.19 41.95 42.71
39.65
44.79
45.66
38.20
38.94 39. 68
40.42
43.40
42.65
43.47 44.23
43.51 44.29 45.07
45.11 45.91
44.15
44.41
45.77
57
47.18
47.94
58
45.00
48.47
45.85
48.21
49.12
49.01
49.92
39.66
41.19
41.96
42.74
46.64
47.42
47.51 48.31
49.80
50.60
59
60
38.89
40.42
39.61 40.39
41.17 41.95
42.74 43.53 44.32
46.71
50.73
51.55
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