Your company has just taken out a 1-year installment loan for $82,500 at a nominal rate...

Your company has just taken out a 1-year installment loan for $82,500 at a nominal rate of 12.0% but with equal end-of-month payments. What percentage of the 2nd monthly payment will go toward the repayment of principal? 89.2% 90.5% 88.9% 88.5% 89.6%

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jeff jeffy answered 2 years ago

Your company has just taken out a 5-year installment loan for $600,000 at a nominal rate...

Your company has just taken out a 5-year installment loan for $600,000 at a nominal rate of 12.0% but with equal end-of-month payments. How much will you still owe after Year 3? How much total interests will you pay during the first two years? How much principal will you pay off during Year 4?

Your business has just taken out a 1-year installment loan for $72,500 at a nominal rate...

Your business has just taken out a 1-year installment loan for $72,500 at a nominal rate of 6.5% but with equal end-of-month payments. What percentage of the 2nd monthly payment will go toward the repayment of principal? Select the correct answer. a. 94.23% b. 96.23% c. 98.23% d. 95.23% e. 97.23%

1. Your company has just taken out a 3-years installment loan for $1,000 at a nominal...

1. Your company has just taken out a 3-years installment loan for $1,000 at a nominal rate of 10.0% with equal end-of-month payments $402.11. What is the beginning balance, Interest, Principal, and Ending balance for the year two and three?

You have just bought a house and have taken out a mortgage (an installment) loan for...

You have just bought a house and have taken out a mortgage (an installment) loan for $500,000. This is a 30-year loan that requires monthly payments and the first payment is due one month from today. The APR for the loan is 24%. You are interested to know how much of your 210th monthly payment will go toward the repayment of principal? That amount is _______________ Question 10 options: $762.65 $9,586.98 $625.64 $9,494.78 $513.24 $9,382.38 $421.04 $9,245.37

Ms. Jordan has just taken out a $150,000 mortgage loan at an interest rate of 6...

Ms. Jordan has just taken out a $150,000 mortgage loan at an interest rate of 6 percent. If the mortgage calls for equal monthly payments for 20 years, what is the amount of each payment? Also, work out an amortization table

You have just purchased a car and taken out a $46000 loan. The loan has a...

You have just purchased a car and taken out a $46000 loan. The loan has a five-year term with monthly payments and an APR of 6.5 % a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) b. How much will you pay in interest, and how much will you pay in...

You have just purchased a car and taken out a $50,000 loan. The loan has a...

You have just purchased a car and taken out a $50,000 loan. The loan has a 5-year term with monthly payments and an APR of 6%. How much will you pay in interest, and how much will you pay in principle, during the first month and second month? (Hint: construct an amortization table to show the breakdown of interest and principal paid in the first two months).

You have just purchased a car and taken out a $40,000 loan. The loan has a?...

You have just purchased a car and taken out a $40,000 loan. The loan has a? five-year term with monthly payments and an APR of 6.3 % a. How much will you pay in? interest, and how much will you pay in? principal, during the first? month, second? month, and first? year? (Hint: Compute the loan balance after one? month, two? months, and one? year.) b. How much will you pay in? interest, and how much will you pay in?...

You have just purchased a car and taken out a $41,000 loan. The loan has a...

You have just purchased a car and taken out a $41,000 loan. The loan has a five-year term with monthly payments and an APR of 6.1%. a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) b. How much will you pay in interest, and how much will you pay in principal,...

You have just purchased a car and taken out a $39,000 loan. The loan has a...

You have just purchased a car and taken out a $39,000 loan. The loan has a five-year term with monthly payments and an APR of 5.5% . a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) b. How much will you pay in interest, and how much will you pay in...

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