Question
In: Finance
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 "$" or "," in your answer. e.g. 12345.67) (Hint: you can use Excel to find the answer.)
Solutions
jeff jeffy answered 1 month agoRelated Solutions
A loan of 673,000 is to be repaid in 30 years by month-end repayments starting in...
A loan of 673,000 is to be repaid in 30 years by month-end
repayments starting in one month. The interest rate is 6.3% p.a.
compounded monthly. Calculate the interest paid in Year 5. (between
the end of month 48 and the end of month 60). Correct your answer
to the nearest cent without any units. (Do not use "$" or "," in
your answer. e.g. 12345.67) (Hint: you can use Excel to find the
answer.) Answer:
A loan of 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 "$" or
"," in your answer. e.g. 12345.67) (Hint: you can use Excel to find
the answer.)
A loan is to be repaid over 30 years, with month-end repayments of 3,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 3,000. If the interest rate is 6.5% p.a. compounded monthly.
Calculate the principal paid for year 10. Correct your answer to
the nearest cent without any units. (Do not use "$" 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)
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 4.9% p.a. compounded monthly.
Calculate the loan outstanding balance at the end of 10 years.
Correct your answer to the nearest cent without any units. (Do not
use "$" or "," in your answer. e.g. 12345.67)
A loan is to be repaid over 30 years, with month-end repayments of 4,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 4,000. If the interest rate is 5.3% p.a. compounded monthly.
Calculate the principal paid for year 10. Correct your answer to
the nearest cent without any units. (Do not use "$" or "," in your
answer. e.g. 12345.67)
A loan is to be repaid over 30 years, with month-end repayments of 6,000. If the...
A loan is to be repaid over 30 years, with month-end repayments
of 6,000. If the interest rate is 4.9% 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 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)?
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...
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