Question
In: Finance
A 35-year loan is to be repaid by half-yearly repayments of 1,000 starting in 6 months...
A 35-year loan is to be repaid by half-yearly repayments of 1,000 starting in 6 months at an interest rate of 9.0% p.a. compounded half yearly. Or, it can be repaid by year-end repayments of $X staring in one year. Calculate the yearly repayments $X. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)?
Solutions
jeff jeffy answered 7 months agoRelated Solutions
A loan of 941,000 is to be repaid in 20 years by month-end repayments starting in...
A loan of 941,000 is to be repaid in 20 years by month-end
repayments starting in one month. The interest rate is 8.4% p.a.
compounded monthly. Calculate the principal paid in Year 6.
(between the end of month 60 and the end of month 72). Correct your
answer to the nearest cent without any units. (Do not use "$" or
"," in your answer. e.g. 12345.67) (Hint: you can use Excel to find
the answer.)
A loan of 673,000 is to be repaid in 30 years by month-end repayments starting in...
A loan of 673,000 is to be repaid in 30 years by month-end
repayments starting in one month. The interest rate is 6.3% p.a.
compounded monthly. Calculate the interest paid in Year 5. (between
the end of month 48 and the end of month 60). Correct your answer
to the nearest cent without any units. (Do not use "$" or "," in
your answer. e.g. 12345.67) (Hint: you can use Excel to find the
answer.) Answer:
A loan of 124,000 is to be repaid in 30 years by month-end repayments starting in...
A loan of 124,000 is to be repaid in 30 years by month-end
repayments starting in one month. The interest rate is 4.8% p.a.
compounded monthly. Calculate the interest paid in Year 5. (between
the end of month 48 and the end of month 60). Correct your answer
to the nearest cent without any units. (Do not use "$" or "," in
your answer. e.g. 12345.67) (Hint: you can use Excel to find the
answer.)
A $11,000 loan is to be repaid with 9 equal half-yearly instalments. Interest is at 7.7%p.a....
A $11,000 loan is to be repaid with 9 equal half-yearly
instalments. Interest is at 7.7%p.a. compounding half-yearly
Calculate the principal repaid in the fourth instalment. (use
excel; answer to include cents but do not use the comma
separator)
Nikita takes out a 10-year loan. The loan is repaid by making 10 annual repayments at...
Nikita takes out a 10-year loan. The loan is repaid by making 10
annual repayments at the end of each year. The first loan repayment
is equal to X, with each subsequent repayment 10.16% greater than
the previous year’s repayment. The annual effective interest rate
being charged on the loan is 8%. The amount of interest repaid
during the first year is equal to 892.20. Calculate X.
a.1100
b.1150
c.1200
d.1250
e.1300
A loan of $100,000 is made today. This loan will be repaid by 10 level repayments,...
A loan of $100,000 is made today. This loan will be repaid by 10
level repayments, followed by a final smaller repayment, i.e.,
there are 11 repayments in total. The first of the level repayments
will occur exactly 2 years from today, and each subsequent
repayment (including the final smaller repayment) will occur
exactly 1 year after the previous repayment. Explicitly, the final
repayment will occur exactly 12 years from today. If the interest
being charged on this loan is...
A loan of $100,000 is made today. This loan will be repaid by 10 level repayments,...
A loan of $100,000 is made today. This loan will be repaid by 10
level repayments, followed by a final smaller repayment, i.e.,
there are 11 repayments in total. The first of the level repayments
will occur exactly 2 years from today, and each subsequent
repayment (including the final smaller repayment) will occur
exactly 1 year after the previous repayment. Explicitly, the final
repayment will occur exactly 12 years from today. If the interest
being charged on this loan is...
A loan is to be repaid over 30 years, with month-end repayments of 3,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 3,000. If the interest rate is 6.5% p.a. compounded monthly.
Calculate the principal paid for year 10. Correct your answer to
the nearest cent without any units. (Do not use "$" or "," in your
answer. e.g. 12345.67)
A loan is to be repaid over 30 years, with month-end repayments of 9,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 9,000. If the interest rate is 7.0% p.a. compounded monthly.
Calculate the interest paid for year 10. Correct your answer to the
nearest cent without any units. (Do not use "$" or "," in your
answer. e.g. 12345.67)
A loan is to be repaid over 30 years, with month-end repayments of 8,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 8,000. If the interest rate is 3.8% p.a. compounded monthly.
Calculate the interest paid for year 10. Correct your answer to the
nearest cent without any units. (Do not use "$" or "," in your
answer. e.g. 12345.67)
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