Question
In: Economics
a man borrows 100.000 euro at 10%compounded annually agreeing to repay the loan in 20 equal...
a man borrows 100.000 euro at 10%compounded annually agreeing to repay the loan in 20 equal annual payments how much of the original principal is still unpaid after he has made the tenth payment
Solutions
Rahul Sunny answered 8 months agoRelated Solutions
Jia borrows $50,000 at 10 percent annually compounded interest to be repaid in four equal annual...
Jia borrows $50,000 at 10 percent annually compounded interest
to be repaid in four equal annual installments. The actual
end-of-year loan payment is
A 20-year loan of 150,000 is negotiated with the borrower agreeing to repay principal and interest...
A 20-year loan of 150,000 is negotiated with the borrower
agreeing to repay principal and interest at 5%. A level payment of
9,000 will apply during the first ten years and a higher level
payment will apply during the remaining ten years. Each time the
lender receives a payment from the borrower, he will deposit the
portion representing the principal into a sinking fund with an
annual effective interest rate of 4%. (Assume that the interest
portion remains level throughout...
A 20-year loan of 150,000 is negotiated with the borrower agreeing to repay principal and interest...
A 20-year loan of
150,000 is negotiated with the borrower agreeing to repay principal
and interest at 5%. A level payment of 9,000 will apply during the
first ten years and a higher level payment will apply during the
remaining ten years. Each time the lender receives a payment from
the borrower, he will deposit the portion representing the
principal into a sinking fund with an annual effective interest
rate of 4%. (Assume that the interest portion remains level
throughout...
A 20-year loan of 150,000 is negotiated with the borrower agreeing to repay principal and interest...
A 20-year loan of 150,000 is negotiated with the borrower
agreeing to repay principal and interest at 5%. A level payment of
9,000 will apply during the first ten years and a higher level
payment will apply during the remaining ten years. Each time the
lender receives a payment from the borrower, he will deposit the
portion representing the principal into a sinking fund with an
annual effective interest rate of 4%. (Assume that the interest
portion remains level throughout...
Chad borrows $75,000 and agrees to repay the loan in five equal annual installments. The loan's...
Chad borrows $75,000 and agrees to repay the loan in five equal
annual installments. The loan's interest rate is 6.75 percent. What
is his loan's balance after making the third payment?
(Loan amortization) A firm borrows$20,000 from the bank at 11 percent compounded annually topurchase...
(Loan amortization) A firm borrows
$20,000 from the bank at 11 percent compounded annually to
purchase some new machinery. This loan is to be repaid in equal
installments at the end of each year over the next 12 years. How
much will each annual payment be?The amount of each annual payment
will be $ (Round to the nearest cent.)
Mr. Lamb borrowed $85,000 at 11.40% compounded monthly. He agreed to repay the loan in equal...
Mr. Lamb borrowed $85,000 at 11.40% compounded monthly. He
agreed to repay the loan in equal monthly payments over 15 years.
What is the size of the monthly payment rounded up to nearest cent?
How much of the 24th payment is interest? How much of the 137th
payment goes towards principal? How much principal was paid down in
the third year? Now assume that in part (a) you had rounded the
payments down to the nearest dollar, what would be...
John borrowed $84,000 at 9.60% compounded monthly. He agreed to repay the loan in equal monthly...
John borrowed $84,000 at 9.60% compounded monthly. He agreed to
repay the loan in equal monthly payments over a 15 year
amortization term. (a) What is the size of the monthly payment?t
Enter answer to 2 decimal places
b) Now assume that in part (a) you had rounded the payments
DOWN to the nearest dollar, what would be the size of the final
payment? Round down to nearest dollar means for example 121.8 is
rounded to $121.00 (NOT 122)
c)...
A woman arranges to repay a $1,000 bank loan in 10 equal annualpayments at a...
A woman arranges to repay a $1,000 bank loan in 10 equal annual
payments at a 10% effective annual interest rate starting in the
sixth year.a. What is the amount of annual payment?b. If the woman paid the amount calculated in an on the 5th and
6th year, but failed to pay for the obligations on the 8 th and 9
th year, how much does he need to pay every year in addition to the
annual payment to compensate...
A $37,000 loan at 8.2% compounded semi-annually is to be repaid by equal semi-annual payments over...
A $37,000 loan at 8.2% compounded semi-annually is to be repaid
by equal semi-annual payments over 10 years.
a) What will be the principal component of the sixth payment?
b) What will be the interest component of the sixteenth
payment?
c) How much will Payments 6 to 15 inclusive reduce the
principal?
d) How much interest will be paid in the third year?
e) What will be the final payment?
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