Homework Answers
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you make quarterly (and of quarter payments of $1,75743. The You borrowed $100.000 exactly 2 years...
You borrowed $100,000 exactly 5 years ago. The loan is structured as an amortized loan. The...
You borrowed $100,000 exactly 5 years ago. The loan is structured as an amortized loan. The interest rate is 7% and you make quarterly (end-of-quarter) payments of $2124.88. The loan is amortized over 25 years. How much principal have you paid over the first 5 years? Use Excel to calculate. Please show all Excel formulas.
Suppose you borrowed $10,000 for 4 years with quarterly payments at an APR of 7%. Please...
Suppose you borrowed $10,000 for 4 years with quarterly payments at an APR of 7%. Please show all work and formulas used!! What is the Quarterly payment? Amortize the first four payments .Set up a table like the one below: Payment Number Payment Interest Principle Remaining Balance 1 ________ ________ ________ _______________ 2 ________ ________ ________ _______________ 3 ________ ________ ________ _______________ 4 ________ ________ ________ _______________ How much interest will you pay over the life of the loan?
Suppose you have $250,000 of loan. The terms of the loan are that the yearly interest...
Suppose you have $250,000 of loan. The terms of the loan are that the yearly interest is 6% compounded quarterly. You are to make equal quarterly payments of such magnitude as to repay this loan over 30 years. (Keep all your answers to 2 decimal places, e.g. XX.12.) (a) How much are the quarterly payments? Ans: 4504.63 (b) After 5 years' payments, what principal remains to be paid? Ans: 232550.19 (c) How much interest is paid in the first quarter of...
13-19 odd please 13. A $10,000 loan is to be amortized for 10 years with quarterly...
13-19 odd please
13. A $10,000 loan is to be amortized for 10 years with quarterly payments of $334.27. If the interest rate is 6% compounded quarterly, what is the unpaid balance immediately after the sixth payment? 14. A debt of $8000 is to be amortized with 8 equal semi- annual payments of $1288.29. If the interest rate is 12% compounded semiannually, find the unpaid balance immediately after the fifth payment. 15. When Maria Acosta bought a car 2 years...
1. Brenda and Matt borrowed $40,000 from the Farm Service Agency for spring crop inputs, at 8% annual interest rate...
1. Brenda and Matt borrowed $40,000 from the Farm Service Agency for spring crop inputs, at 8% annual interest rate. They took out the loan on March 1 and paid it back on December 10, 285 days later. How much did they have to repay? Principal Interest TotalS 2. They also borrowed $12,000 from Farm Credit Services to buy some sows. They agreed to pay it back with 3 annual payments, plus 8% interest on the remaining loan balance. If...
You bought a Nash Metropolitan for $130,000 (tax included) and you borrowed the full amount from...
You bought a Nash Metropolitan for $130,000 (tax included) and you borrowed the full amount from Nash Financing. The loan is structured as an amortized loan to be repaid over 4 years with 12 (end-of-period) payments per year. The annual interest rate is 7.7% APR. The monthly payments are $3,155.41. How much interest do you pay over the life of the loan? PLEASE ANSWER WITH DETAIL. THANKS IN ADVANCE!
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
A loan of $20 000 is to be amortized by 20 quarterly payments over 5 years...
A loan of $20 000 is to be amortized by 20 quarterly payments over 5 years at j12 = 712%712%. Split the 9th payment into principal and interest. (Do not round intermediate calculations. Round your answers to 2 decimal places.) a) I9= $ b) P9= $
You are taking out a $29556 loan. It will be amortized with fixed payments over 10...
You are taking out a $29556 loan. It will be amortized with fixed payments over 10 years. It is to be paid quarterly and the APR is 4%. What is the interest payment on the loan in the second quarter?
CTL (Concrete Testing Lab) borrowed $120,000 for new equipment at 12% per year, compounded quarterly. It...
CTL (Concrete Testing Lab) borrowed $120,000 for new equipment
at 12% per year, compounded quarterly. It is to be paid back over 4
years in equal quarterly payments.
How much interest is in the 6th payment? $
How much principal is in the 6th payment? $
What principal is owed immediately following the 6th
payment?
13-19 odd please
13. A $10,000 loan is to be amortized for 10 years with quarterly payments of $334.27. If the interest rate is 6% compounded quarterly, what is the unpaid balance immediately after the sixth payment? 14. A debt of $8000 is to be amortized with 8 equal semi- annual payments of $1288.29. If the interest rate is 12% compounded semiannually, find the unpaid balance immediately after the fifth payment. 15. When Maria Acosta bought a car 2 years...
1. Brenda and Matt borrowed $40,000 from the Farm Service Agency for spring crop inputs, at 8% annual interest rate. They took out the loan on March 1 and paid it back on December 10, 285 days later. How much did they have to repay? Principal Interest TotalS 2. They also borrowed $12,000 from Farm Credit Services to buy some sows. They agreed to pay it back with 3 annual payments, plus 8% interest on the remaining loan balance. If...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
CTL (Concrete Testing Lab) borrowed $120,000 for new equipment
at 12% per year, compounded quarterly. It is to be paid back over 4
years in equal quarterly payments.
How much interest is in the 6th payment? $
How much principal is in the 6th payment? $
What principal is owed immediately following the 6th
payment?
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