Question
In: Advanced Math
what is the principal on a $10,000 loan at a rate of 7% number of compounding...
what is the principal on a $10,000 loan at a rate of
7% number of compounding per year is 12 term in years is 18 months
what is the payment and the total pay of interest paid
how do you find the monthly payment.
Solutions
Colby Messinger answered 2 years agoRelated Solutions
If the interest rate on the loan is 7%, what is the amount of principal in the second payment?
You borrow $12,000 today. The loan will be repaid in annual
payments over 10 years. If the interest rate on the loan is 7%,
what is the amount of principal in the second payment?
What is the annual payment on a $10,000 loan, 7% interest for 5 years?
What is the annual payment on a $10,000 loan, 7% interest for 5
years?
Loan Amortization Schedule for Investment Interest rate Year Beginning Principal Principal Payment Interest Payment Ending principal...
Loan Amortization Schedule for Investment
Interest rate
Year
Beginning Principal
Principal Payment
Interest Payment
Ending principal
Tax Savings
0.07
1
15,000
a.
1,050
b.
c.
0.07
2
0.07
3
0.07
4
0.07
5
0.07
Fill in the blanks. Explain how to get the principal and ending
principal.
What is the capital charge factor for a loan with an interest rate of 7% for...
What is the capital charge factor for a loan with an interest
rate of 7% for 25 years? Make sure to answer to at least three
significant figures .
At an interest rate of 7%, what must be the present value of $10,000 due in...
At an interest rate of 7%, what must be the present value of
$10,000 due in 8 months?
Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan?
You want to borrow $36,000 from your local bank to buy a new
sailboat. You can afford to make monthly payments of $750, but no
more. Assuming monthly compounding, what is the highest rate you
can afford on a 60-month APR loan?Group of answer choices8.90 percent8.95 percent9.00 percent9.15 percent9.20 percent
Throughout this question, assume annual interest rate is 4.5% with monthly compounding. You are a loan...
Throughout this question, assume annual interest rate is 4.5%
with monthly compounding. You are a loan officer in the mortgage
department of a local bank. A customer, who has a successful job,
walks in and applies for a $600,000 loan to buy a starter home in
NYC. The standard terms your bank have been offering to previous
customers are as followed:
Contract A: a 15-year fixed rate loan, with an
annual rate of 4.5% and with fixed monthly installment
Contract...
Throughout this question, assume annual interest rate is 4.5% with monthly compounding. You are a loan...
Throughout this question, assume annual interest rate is 4.5% with
monthly compounding.
You are a loan officer in the mortgage department of a local bank.
A customer, who is also a Stevens alum, walks in and applies for a
$600,000 loan to buy a starter home in Hoboken. The standard terms
your bank have been offering to previous customers are as
followed,
Contract A: a 15-year fixed rate loan, with an annual rate of 4.5%
and with fixed monthly installment....
Amy receives a home improvement loan of $10,000. The loan has a nominal interest rate convertible...
Amy receives a home improvement loan of $10,000. The loan has a
nominal interest rate convertible monthly of i(12) = 6%. The term
of the loan is three years and Amy is expected to make level
end-of-month payments, except that she is allowed to miss one
payment so long as she then pays higher level payments for the
remainder of the three years, so as to have repaid the loan at the
end of the three-year period. Suppose Amy misses...
2. As a loan customer, I would prefer a loan a.with semiannual compounding b.with annual compounding c.with...
2. As a loan customer, I would prefer a loan
a.with semiannual compounding
b.with annual compounding
c.with daily compounding
d.with monthly compounding
e.with quarterly compounding
3. If the interest rate is zero and/or there is no
time passing, then
a. The present value will be equal to the future
value.
b. The present value will be doubled to get the
future value.
c. The future value will be half of the present
value.
d. There is no way to compute the present value or
the future...
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