the 100000 loan has to be repaid after 21 years. determine the amount of the 21st...
the 100000 loan has to be repaid after 21 years. determine the amount of the 21st and final payment when 20 payments of 10,000 have been made in each year. the interest rate remains at 8 % per year?
Homework Answers
Loan amount=$100000
Annual installment=$10000 for 20 years
Rate of interest=i=8%
Balance left after 20 installments=100000*(F/P,0.08,20)-10000*(F/A,0.08,20)
Let us calculate the interest factors
(F/A,0.08,20)=(1+0.08)20=4.66095714
Balance left after 20 installments=100000*4.66095714-10000*45.76196430=8476.07
Payment to be made at the end of 21st year=8476.07*(1+8%)=$9154.16
Add Answer to:
the 100000 loan has to be repaid after 21 years. determine the
amount of the 21st...
5.2 A loan is being repaid with 20 payments of $1,000 at the end of each...
5.2 A loan is being repaid with 20 payments of $1,000 at the end of each quarter. Given that the nominal rate of interest is 8% per year compounded quarterly, find the outstanding balance of the loan immediately after 10 payments have been made|| (a) by the prospective method, Bm Lan-mi anli (b) by the retrospective method. L(1 + i)m - Asmi
A demand loan of $4000.004000.00 is repaid by payments of $1500.001500.00 after twotwo years, $1500.001500.00 after...
A demand loan of $4000.004000.00 is repaid by payments of $1500.001500.00 after twotwo years, $1500.001500.00 after fourfour years, and a final payment after sixsix years. Interest is 77% compounded quarterlyquarterly for the first twotwo years, 88% compounded monthlymonthly for the next twotwo years, and 88% compounded quarterlyquarterly thereafter. What is the size of the final payment?
A loan of 16,000 is repaid by 8 annual payments starting 1 year after the loan...
A loan of 16,000 is repaid by 8 annual payments starting 1 year after the loan is made. The amount of the first 2 payments is X and the amount of the last 6 payments is 2X. The effective annual interest rate is 6%. Find: a. X. b. OB7 providing formulas for both the retrospective and prospective calculation approaches.
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after...
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after four years, and a final payment after seven years. Interest is 9% compounded monthly for the first two years, 10% compounded quarterly for the next two years, and 10% compounded semi-annually thereafter. What is the size of the final payment? The final payment is $ . (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after...
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after four years, and a final payment after six years. Interest is 5% compounded quarterly for the first two years, 6% compounded monthly for the next two years, and 6% compounded semi-annually thereafter. What is the size of the final payment? The final payment is $ 1. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after...
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after four years, and a final payment after seven years. Interest is 9% compounded monthly for the first two years, 10% compounded semi- annually for the next two years, and 10% compounded monthly thereafter. What is the size of the final payment? The final payment is $ ?. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal...
actsci questions, please show work 10. 8 A loan of $20000 is to be repaid by...
actsci questions, please show work
10. 8 A loan of $20000 is to be repaid by annual payments of $4000 per ycar (at the end of cach ycar) for the first 5 ycars and payments of $4500 per ycar thercafter for as long as nccessary. Determine the total number of payments and the amount of the smaller final payment made onc ycar after the last rogular payment. Assume an annual cffective rate of 7.5%
Problem 3. A loan of $10,000 is being repaid with payments of $1,000 at the end...
Problem 3. A loan of $10,000 is being repaid with payments of $1,000 at the end of each year for 20 years. If each payment is immediately reinvested at 5% effective, find the effective annual rate of interest earned by the lender over the 20-year period.
A loan of $10,000 is to be repaid by 20 equal quarterly payments at a nominal...
A loan of $10,000 is to be repaid by 20 equal quarterly payments at a nominal interest rate of 6% per year compounded semiannually. The first payment is at the end of the first quarter. What is the size of each payment? Calculate the payment by (1) finding the equivalent interest rate convertible at the same frequency as payments. (2) using the formula (“Fusion” method). (Answer: $581.82) mathematical interest theory/financial math
A company takes out a loan of 15,000,000 at an annual effective discount rate of 5.5%....
A company takes out a loan of 15,000,000 at an annual effective discount rate of 5.5%. You are given: (i) The loan is to be repaid with n annual payments of 1,200,000 plus a drop payment one year after the nth payment. (ii) The first payment is due three years after the loan is taken out. Calculate the amount of the drop payment. 5. On January 1, 2010 Susan took out a 30-year mortgage loan in the amount of 200,000...
5.2 A loan is being repaid with 20 payments of $1,000 at the end of each quarter. Given that the nominal rate of interest is 8% per year compounded quarterly, find the outstanding balance of the loan immediately after 10 payments have been made|| (a) by the prospective method, Bm Lan-mi anli (b) by the retrospective method. L(1 + i)m - Asmi
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after four years, and a final payment after seven years. Interest is 9% compounded monthly for the first two years, 10% compounded quarterly for the next two years, and 10% compounded semi-annually thereafter. What is the size of the final payment? The final payment is $ . (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, $4000.00 after four years, and a final payment after six years. Interest is 5% compounded quarterly for the first two years, 6% compounded monthly for the next two years, and 6% compounded semi-annually thereafter. What is the size of the final payment? The final payment is $ 1. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
actsci questions, please show work
10. 8 A loan of $20000 is to be repaid by annual payments of $4000 per ycar (at the end of cach ycar) for the first 5 ycars and payments of $4500 per ycar thercafter for as long as nccessary. Determine the total number of payments and the amount of the smaller final payment made onc ycar after the last rogular payment. Assume an annual cffective rate of 7.5%
Problem 3. A loan of $10,000 is being repaid with payments of $1,000 at the end of each year for 20 years. If each payment is immediately reinvested at 5% effective, find the effective annual rate of interest earned by the lender over the 20-year period.
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago