xandra received a 30 year loan of $280,000 to purchase a he the loan was 4.60% compounded semi-annually. . What is the size of the monthly loan payment? rest rent

Q: years. The interest rate is i(12) = 8.750%. What is the outstanding balance on the loan just after…

A: The time value of money recognizes the idea that the value of an amount of money today differs from…

Q: Farmer Ty needs to finance a machinery purchase of $70,000. His lender requires a down payment of…

A: Loan installment is that amount which is paid every month/ every year depend upon the terms which is…

Q: Sol Pine borrows $8,200 for one year at 12 percent interest. What is the effective rate of interest…

A: The effective rate of interest refers to the interest on a loan to be accumulated the compound…

Q: Anna received a loan of $29,000 at 4.5% compounded semi-annually. He had to make payments at the end…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: Jeffery Wei received a 7 year non Subsidized loan of 32000 at an annual interest rate of 5.2%. What…

A: In a non-subsidized loan, the interest on the original loan granted is calculated at simple interest…

Q: Joshua received a loan of $8,000 at 6.02% compounded semi-annually from a credit union to use as…

A: Working capital represents the liquidity of a company as it shows the difference between the current…

Q: Mrs Shiirley Abundo borrowed 20, 000.00 at 7.5% compounded quarterly at a certain cooperative. How…

A: Here, Borrowed Amount is 20,000 Interest Rate is 7.5% Time Period is 2 year Compounding Period is…

Q: Caroline borrowed $1,500.00 at 9.00% p.a. She wants to settle this loan with 2 equal payments, one…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: A home is purchased for $229,000 with an amortized loan over 30 years at an interest rate of 4.6%.…

A: Purchase price =                 2,29,000         Loan Tenure =  30 years       Interest rate =…

Q: Calculate the cost of the

A: Present Value represents the value of a future amount in today's dollars, taking into account…

Q: A bank loans a family $90,000 at 4.5% annual interest rate to purchase a house. The family agrees to…

A: Compound = monthly = 12Present Value = pv = $90,000Interest rate = r = 4.5 / 12 = 0.375%Time = t =…

Q: Juan paid 7000 for new air conditioning 20 percent down payment and financed balance with 36 month…

A: Finance charges is the interest amount paid on the finance amount.

Q: John bought an expensive $2,740 stereo.  He took out an amortized loan for the full amount at 3.12%…

A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…

Q: 5. Jenna received a 15 year loan of $375,000 to purchase a 5.10% compounded semi-annually. a. What…

A: Loans are paid by the fixed monthly payments and these payments carry the payment for interest and…

Q: Krisi took out a $500 discounted loan calculated using a simple interest rate of 5% for a period of…

A: Loans are the methods through which individuals or corporations borrow funds and money from lenders,…

Q: If Rochelle obtained a business loan of $205,000.00 at 4.67% compounded semi-annually, how much…

A: Business loan = $205,000.00 Interest Rate = 4.67% compounded semi-annually Time Period = 30 Years

Q: a) i) Ali is paying off a loan by making $50 payments at the end of every month for 2 years, at 6%,…

A: Loan is a borrowed amount taken for the purpose of completing the shortage of funds. When an…

Q: Leah received a loan of $35,000 at 3.5% compounded quarterly. She had to make payments at the end of…

A: The size of monthly payment can be calculated by using loan amortization formula. PMT =P*i1-1(1+i)n…

Q: 1. Mary made a loan of P58,000 to supply her new business. It is to be amortized by ten equal…

A: We need to use RATE function in excel to calculate interest rate. Formula is =RATE(NPER,-PMT,PV)

Q: Dustin obtained a business loan of $220,000 at 5.21% compounded semi-annually.a. What was the size…

A: Sure, let's tackle these questions step by step.a. To find the size of the semi-annual payments to…

Q: Tom Bond borrowed $6,200 at 6-% for three years compounded annually. What is the compound amount of…

A: Compound amount = Principal(1 + Rate/100)t Interest = Compound amount - Principal

Q: Luis paid off a loan by making a payment of $4,050, which included simple interest of 3% p.a. If he…

A: Payment amount after 6 months (FV)= $ 4050 Annual interest rate (R) = 3% Period  (T) = 6 Months =…

Q: Marcela took out a $600 discounted loan with a 4% annual interest rate over a period of 8 months.…

A: Effective annual interest rate is referred as the interest rate which is adjusted for compounding…

Q: a. Find the balance owed after 5 years b. Determine the cost of the loan (interest). c. If an extra…

A: The given problem can be solved using PMT function in excel. PMT function computes installment…

Q: Joan Messineo borrowed $50,000 at a 5% annual rate of interest to be repaid over 3 years. The loan…

A: Given that, Borrowed amount (PV)=$50,000 Rate of interest (i)=0.05 Duration (n)=3 years   As per the…

Q: Bradley received a loan of $32,000 at 4.75% compounded quarterly. She had to make payments at the…

A: The amortization schedule refers to the recording of the payments made for the repayment of the loan…

Q: Karen takes an 6-year car loan of $45,000 at 2.34%, compounded monthly. If the payments are done at…

A: The amortization schedule provides the borrower with the breakdown of each payment and helps them…

Q: A bank made a farmer loan of 1000 at 14% for three years compounded annually. Find the future value…

A: Loan amount = 1000 Interest rate = 14% compounded annually Period = 3 years

Q: Jeremy received an excellent interest rate for her loan of $9,500. Calculate the nominal interest…

A: Solution:When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Q: Find the present value of the following annuities. Assume the discounting occurs once a year A. The…

A: The present value is calculated by multiplying the annual cash flows with the present value annuity…

Q: Karen obtained a $25.000 loan at 4.5% compounded semiannually. a-1. What monthly payment will repay…

A: The monthly amount will be found using excel’s PMT function. It is the minimum amount that must be…

Q: Jalen has a loan that requires a single payment of $4,800 at the end of 3 years. The loan's interest…

A: Present value (PV) is the current value of a future sum of money or stream of cash flows given a…

Q: What is the balance of the loan at the end of year 3? $0.00 Round to the nearest cent c. By how much…

A: Loans are paid by the monthly equated payments that carry the payment for loan principal amount and…

Q: Carlos pays $25 for skis and borrows the remaining amount. The loan payments are $75 every 3 months…

A: Present value of annuity = P * {1-[1/(1+r)^n]/r} Where, P =Periodic payment i.e. 75 r = rate of…

Q: A bank made a farmer a loan of $1,00 loan. Compare the compound interes Future value= $0 (Round to…

A: Value or worth of money changes with passage of time. This is due to a theoretical concept in…

Q: Jesse received a loan of $36,000 at 5.75% coumpounded quarterly. She had to make payments at the end…

A: The payment size for a loan refers to the installment amount which is paid by loan taker in each…

Q: Melynda and Andrés borrowed $60,000 at 7.25% compounded annually as a second mortgage loan against…

A: Second Mortgage LoanIt is a loan made in addition to the homeowner’s primary mortgage, which is made…