You just borrowed $109,276. You plan to repay this loan by making X regular annual payments of $13,410 and a special payment of $28,400 in 10 years. The interest rate on the loan is 13.84 percent per year and your first regular payment will be made today. What is X? Input instructions: Round your answer to at least 2 decimal places.
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I keep getting it wrong
![You just borrowed $109,276. You plan to repay this loan by making X regular annual payments of $13,410 and a special payment
of $28,400 in 10 years. The interest rate on the loan is 13.84 percent per year and your first regular payment will be made today. What
is X?
Input instructions: Round your answer to at least 2 decimal places.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F49ac4c7d-cc1b-4006-8620-1a56d5bdfbb3%2Ff1f13219-cfca-4de7-a7cf-29ffae2e1db7%2F4l0yoi5_processed.jpeg&w=3840&q=75)
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- You just borrowed $203,584. You plan to repay this loan by making regular quarterly payments of X for 69 quarters and a special payment of $56,000 in 7 quarters. The interest rate on the loan is 1.94 percent per quarter and your first regular payment will be made today. What is X? Input instructions: Round your answer to the nearest dollar. 59You just obtained a loan of $12,157 with monthly payments for four years at 5.77 percent interest, compounded monthly. What is the amount of each payment? Instruction: Enter your response rounded to two decimal places. 1 hYou just borrowed $373,641. You plan to repay this loan by making regular annual payments of X for 18 years and a special payment of $56,400 in 18 years. The interest rate on the loan is 12.90 percent per year and your first regular payment will be made in 1 year. What is X? Input instructions: Round your answer to the nearest dollar. EA $
- Find the interest rates earned on each of the following. Round each answer to two decimal places. A. You borrow $700 and promise to pay back $728 at the end of 1 year. B. You lend $700 and the borrower promises to pay you $728 at the end of 1 year. C. You borrow $100,000 and promise to pay back $147,746 at the end of 8 years. D. You borrow $12,000 and promise to make payments of $2,771.70 at the end of each year for 5 years.You just borrowed $174,984. You plan to repay this loan by making regular annual payments of X for 12 years and a special payment of $11,400 in 12 years. The interest rate on the loan is 9.37 percent per year and your first regular payment will be made today. What is X? Input instructions: Round your answer to the nearest dollar. $Step 1:Suppose that your Stafford loans plus accumulated interest total $31,811 at the time that you start repayment and the interest rate is 6.8% APR.If you elect the standard repayment plan of a fixed amount each month for 10 years, what is your monthly payment?(Fill in the blank below and round your answer to 2 decimal places.)Your monthly payment would be $______. STEP 2: How much will you pay in interest?(Fill in the blank below and round your answer to the nearest whole number.)You would pay a total of $______ in interest. STEP 3: However, because your accumulated outstanding federal loans total more than $30,000, you can elect to repay over 25 years instead.Fill in the blanks (Give your answers to two decimal places):If you do that:Your monthly payment would be $______.You will pay $______ in interest.Answer 1:Answer 2:
- Use the table to find the monthly payments on the given loan. Amount Rate Time $63,000 12% 3 years table of monthly payments on a $1,000 loan. The monthly payments for this loan are? (Type an integer or a decimal.)Find the interest rates earned on each of the following. Round your answers to the nearest whole number. You borrow $680 and promise to pay back $782 at the end of 1 year. %You plan to deposit $700 in a bank account now and $900 at the end of one year. If the account earns 2% interest per year, what will the balance be in the account right after you make the second deposit? There will be $ in the account right after the second deposit. (Type an integer or a decimal.)
- Suppose you take out a car loan that requires you to pay $7,000 now, $4,000 at the end of year 1, and $6,000 at the end of year 2. The interest rate is 5% now and increases to 10% in the next year. What is the present value of the payments? Enter your response below rounded to 2 decimal places. NumberYou are considering taking out a loan of $7,000.00 that will be paid back over 12 years with every 2 months payments of $149.54. If the interest rate is 7.7% compounded every 2 months, what would the unpaid balance be immediately after the fifteenth payment? Round answers to 2 decimal places.a man borrows money from a bank . he receives the money in 5 equal annual installment of X commencing at t=1 with t in years.He repays the loan with twenty equal annual payment of 100 . if the first payment is due one year after the last installment and the interest rate is i=0.13 the find an equation for X