Question
In: Finance
Statue Builders, Inc. took out a loan for $243,022 that has to be repaid in 10...
Statue Builders, Inc. took out a loan for $243,022 that has to be repaid in 10 equal annual installments. The APR on the loan is 6.99 percent. How much of the second payment is interest?
Solutions
jeff jeffy answered 2 years agoRelated Solutions
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
You just took out a 10 year commercial real estate loan for your business. The loan...
You just took out a 10 year commercial real estate loan for your
business. The loan amount is $250,000 and the interest rate is
3.5%. How many periods (months) will it take you to pay off
$100,000 of the principal loan? Round your answer to the closest
whole number. PLEASE answer in excel with appropriate excel
formulas
Five years ago you took out a 10-year amortizing loan to purchase an apartment. The loan...
Five years ago you took out a 10-year amortizing loan to
purchase an apartment. The loan has 4.0% APR with monthly payments
of $1,800. How much do you owe on the loan today?
The remaining loan balance is $________.
(round to the nearest dollar)
How much interest did you pay on the loan in the past year?
The interest paid in year five was $______.
(round to the nearest dollar)
Over the entire period of 10 years, how much interest...
You just took out a 10-year commercial real estate loan for your business. The loan amount...
You just took out a 10-year commercial real estate loan for your
business. The loan amount is $250,000 and the interest rate is
3.5%. How many periods (months) will it take you to pay off
$100,000 of the principal of the loan? Round your answer to the
closest whole number.
PLEASE SHOW WORK
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...
James has a loan of 10,000, which is to be repaid with 10 level annual payments...
James has a loan of 10,000, which is to be repaid with 10 level
annual payments at an annual effective interest rate of 14.5%.
Calculate the Macaulay duration of the loan using the 14.5%
interest rate.
James has a loan of 10,000, which is to be repaid with 10 level annual payments...
James has a loan of 10,000, which is to be repaid with 10 level
annual payments at an annual effective interest rate of 14.5%.
Calculate the Macaulay duration of the loan using the 14.5%
interest rate.
Michael took out a loan for $35,500 today. The interest rate on the loan was an...
Michael took out a loan for $35,500 today. The interest rate on
the loan was an APR of 12% compounded monthly. Michael pays annual
payments of $9,800, how many years will it take before Michael pays
back the loan?
a.
4.56
b.
5.03
c.
6.25
d.
8.10
e.
5.15
Donald takes out a loan to be repaid with annual payments of $500 at the end...
Donald takes out a loan to be repaid with annual payments of
$500 at the end of each year for 2n years. The annual effective
interest rate is 4.94%. The sum of the interest paid in year 1 plus
the interest paid in year n + 1 is equal to $720. Calculate the
amount of interest paid in year 10.
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