Question
In: Finance
Your firm has taken out a $ 492 comma 000$492,000 loan with 8.2 %8.2% APR (compounded...
Your firm has taken out a $ 492 comma 000$492,000 loan with 8.2 %8.2% APR (compounded monthly) for some commercial property. As is common in commercial real estate, the loan is a 55-year loan based on a 1515-year amortization. This means that your loan payments will be calculated as if you will take 1515 years to pay off the loan, but you actually must do so in 55 years. To do this, you will make 5959 equal payments based on the 1515-year amortization schedule and then make a final 60th payment to pay the remaining balance. (Note: Be careful not to round any intermediate steps less than six decimal places.) a. What will your monthly payments be? b. What will your final payment be?
Solutions
jeff jeffy answered 7 months agoRelated Solutions
Your firm has taken out a $ 455, 000 loan with 8.6 % APR (compounded monthly)...
Your firm has taken out a $ 455, 000 loan with 8.6 % APR
(compounded monthly) for some commercial property. As is common in
commercial real estate, the loan is a 5-year loan based on a
15-year amortization. This means that your loan payments will be
calculated as if you will take 15 years to pay off the loan, but
you actually must do so in 5 years. To do this, you will make 59
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Your firm has taken out a $549,000 loan with 8.1% apr (compounded monthly) for some commercial...
Your firm has taken out a $549,000 loan with 8.1% apr
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commercial real estate the loan is a 5 year loan based on 15 year
amortization. this means that your loan payments will be calculated
as if you will take 15 years to pay off the loan, but you actually
must do so in 5 years. to do this you will make 59 equal payments
based on the 15 year...
Your firm has taken out a $451,000 loan with 8.6% APR (compounded monthly) for some commercial...
Your firm has taken out a $451,000 loan with 8.6% APR
(compounded monthly) for some commercial property. As is common in
commercial real estate, the loan is a 55-year loan based on a
15-year amortization. This means that your loan payments will
be calculated as if you will take 15 years to pay off the loan,
but you actually must do so in 55 years. To do this, you will
make
59 equal payments based on the 15-year amortization schedule...
(1)You have just taken out a $20 000 car loan with a 4% APR, compounded monthly....
(1)You have just taken out a $20 000 car loan with a 4% APR,
compounded monthly. The loan is for five years. When you make your
first payment in one month, how much of the payment will go toward
the principal of the loan and how much will go toward interest?
(Note: Be careful not to round any intermediate steps to fewer than
six decimal places.)
2)You have just sold your house for $ 1 100 000 in cash. Your...
You have just taken out a $ 17 comma 000 car loan with a 6 %...
You have just taken out a $ 17 comma 000 car loan with a 6 %
APR, compounded monthly. The loan is for five years. When you make
your first payment in one month, how much of the payment will go
toward the principal of the loan and how much will go toward
interest? (Note: Be careful not to round any intermediate steps
less than six decimal places.)
You have just taken out a $ 30000 car loan with a 6 % APR, compounded...
You have just taken out a $ 30000 car loan with a 6 % APR,
compounded monthly. The loan is for five years. When you make your
first payment in one month, how much of the payment will go toward
the principal of the loan and how much will go toward
interest? (Note: Be careful not to round any intermediate steps
less than six decimal places.)
When you make your first payment, $(blank)? will go toward
the principal of...
You have just purchased a car and taken out a $ 48 comma 000$48,000 loan. The...
You have just purchased a car and taken out a
$ 48 comma 000$48,000
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APR of
5.8 %5.8%.
a. How much will you pay in interest, and how much will you pay
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(Hint: Compute the loan balance after one month, two months, and
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b. How much will you pay in interest, and how much will...
You have just taken out a $19,000 car loan with a 7% APR,compounded monthly. The...
You have just taken out a $19,000 car loan with a 7% APR,
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the principal of the loan and how much will go toward
interest? (Note: Be careful not to round any intermediate steps
less than six decimal places.)
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less than six decimal places.) When you make your first payment,
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You have just taken out a $29,000 car loan with a 4% APR, compounded monthly. The...
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less than six decimal places.)
When you make your first payment, __________ $
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