The following loan is a simple interest amortized loan with monthly payments.$155,000, 9-9-%, 30 years2(a) Find the monthly payment. (Give your answer to the nearest cent.)Payment $(b) Find the total.interest for the given simple interest amortized loan. (Give your answer to the nearest cent.)Total interest |Enter a number.

Given, The loan amount is $155,000 Number of years (t) is 30 years Rate of interest is 9.5%

The following loan is a simple interest amortized loan with monthly payments. $155,000, 9%, 30 years (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $ X (b) Find the total.interest.for.the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest:

The following loan is a simple interest amortized loan with monthly payments. $155,000, 9%, 30 years (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $ X (b) Find the total.interest.for.the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest:

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

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Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded m times a year. (Round your answer to the nearest cent.) P = 140,000, r = 5.5, t = 28, m = 12
Assume you have taken out a 25-year loan of $177,390 with an annual interest rate of 6.72%, compounded monthly. (a) Determine the payment amount (in dollars), to the nearest cent, on the given loan amount. $ 1222.25 (b) Determine the outstanding balance (in dollars), to the nearest dollar, after 17 years. $
The following loan is a simple interest amortized loan with monthly payments. $7000, 7%, 4 years (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $189.58 (b) Find the total interest for the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest $ 2100 X
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Find the monthly payment for a 289,500.00 home with 20% down payment. The terms of the mortgage are 8.5% for 25 years. Note:Find the down payment and use a 'Monthly Payment of Mortgage' table. 8 Extra: Find the monthly payment for that home for any combination of terms: 8.5% & 9.5%, 20 & 25 years, 20% & 25% down payment. Compare with given.
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A. Directions: Read the following annuity problem. Fill in the blanks in the statements that follow. A loan of P 30,000 is to be repaid monthly for 5 years that will start at the end of 4 years. If interest rate is 12% converted monthly, how much is the monthly payment? a) Type of annuity illustrated in the problem is a b) The total number of payments is c) The number of conversion periods in the period of deferred is d) The interest rate per period is annuity. e) The present value of the loan is
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a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Periodic Deposit $8000 at the end of each year Time 35 years Rate 4% compounded annually Click the icon to view some finance formulas. .... a. The value of the annuity is $ (Do not round until the final answer. Then round to the nearest dollar as needed.) Formulas In the provided formulas, P is the deposit made at the end of each compounding period, r is the annual interest rate of the annuity in decimal form, n is the number of compounding periods per year, and A is the value of the annuity after t years. nt |+ A P[(1 + n* - 1] - 1 A = A = P = r nt Print Done
Answer the following question correctly refer to the given problem below and show your Complete Solution (Given, Required, Equation, Solution, Answer). Mr. Quiton loans an amount of Php 30,000.00 which is to be paid monthly for 5 years that will start at the end of 4 years , if converted monthly at 12%, how much is the monthly payment ? 1. What is the type of annuity illustrated in the given problem? A. Simple Annuity B. General Annuity C. Deferred Annuity D. Complex Annuity 2. Compute for the interest rate per period. A. 0.01 B. 0.05 C. 0.10 D. 0.12 3. Determine the present value of the loan. A. Php 12,000.00 B. Php 30,000.00 C. Php 60,000.00 D. Php 75,000.00
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