The payment necessary to amortize a 4.4% loan of $95,000 compounded annually, with 4 annual payments is ​$26,418.72. The total of the payments is ​$105,674.88 with a total interest payment of ​$10,674.88. The borrower made larger payments of $27,000.00. Calculate​ (a) the time needed to pay off the​ loan, (b) the total amount of the​ payments, and​ (c) the amount of interest saved.

Q: Calculate the monthly mortgage payment. $220,000 is financed for 20 years at 5% APR

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Q: Consider a student loan of $12,500 at a fixed APR of 6% for 25 years. a. Calculate the monthly…

A: (a) Obtain the monthly payment as follows.

Q: Your company borrowed $180,000, agreeing to pay the balance in 18 equal monthly installments at 8%…

A: The formula to find is, Remaining balance =  (Original balance*(1+r)^n)-EMI*((((1+r)^n)-1)/r)

Q: You are purchasing a home for $270,000. You plan on using $34,000 as a down payment. Bank A offers…

A: Reviewing information, Home price=$270000 Down payment=$34000 r=rate of interest=10% n=tenure=20…

Q: What would be the monthly payment on an add-on loan from a credit union at 6% over 36 months for the…

A: I solved with detailed analysis

Q: The payment necessary to amortize a 6.5% loan of $77,000 compounded annually, with 5 annual payments…

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Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Find the payment necessary to amortize a 4% loan of $1800 compounded quarterly, with 19 quarterly…

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Q: Find the amount of an ordinary annuity for 6 years of semiannually payments of $1,400 that earn…

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Q: Find the payment necessary to amortize a 8% loan of $800 compounded quarterly, with 16 quarterly…

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Q: Find the monthly house payments necessary to amortize a 7.2% loan of $298,100 over 30 years. The…

A: I have explained everything with in the solution .please go through that.

Q: Guy de Primo buys a new car for $23,625.48. He puts 12% down and obtains a simple interest amortized…

A: According to the given information, it is required to calculate the monthly payment.

Q: Consider the 20-year fixed rate home loan of $185,500 with an interest rate of 6.75% what is the…

A: given, home loan=$185500 r= 6.75% = 0.0675 t=20 years frequency is monthly m= P(r/n) / 1-(1+r/n)-nt

Q: he payment necessary to amortize a 8% loan of $1000 compounded quarterly, with 19 quarterly…

A: We have to find the payment size of the given payment data.

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

A: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

Q: Find the monthly payment to amortize a $96,000 mortgage at 5.0% annual interest for 15 years.

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Q: Find the monthly house payments necessary to amortize a 9.6% loan of $266,200 over 15 years. The…

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Q: Find the payment necessary to amortize a 12% loan of $1700 compounded quarterly, with 8 quarterly…

A: Solution

Q: Suppose that a student borrows $5000 at the start of their senior year of college. With a nominal…

A: The quarterly interest payment is calculated by multiplying the amount borrowed by the quarterly…

Q: The company holds a 6-year loan of $230,000, at 7.5% compounded annually. Payments are made…

A: Question 1 : Calculate the payment amount for the original loan ?Answer:To calculate the quarterly…

Q: Sandra buys a new car for $18,600. She puts 15% down and obtains a simple interest amortized loan…

A: Here, Car price= $18,600 Down payment=0.15 Annual rate= 6.25% Number of months= 5*12= 60 months

Q: On June 15, Julio borrowed $1,070.00 from Sheridan Credit Union at 7.2% per annum calculated on the…

A: Given,         Balance before payment=$1,070.00                           Amount Paid=$160.00…