A debt of $7000 due today is to be settled by three equal payments due 3...

A debt of $7000 due today is to be settled by three equal payments due 3 months from now, 15 months from now, and 27 months from now. What is the size of the equal payments at 11% compounded annually?

Expert Solution

jeff jeffy answered 2 years ago

Alan Taylor is settling a $20,370 loan due today by making 6 equal annual payments of...

Alan Taylor is settling a $20,370 loan due today by making 6 equal annual payments of $4,954.50. Click here to view factor tables Determine the interest rate on this loan, if the payments begin one year after the loan is signed. (Round answer to 0 decimal places, e.g. 8%.) Interest rate % Chris Taylor is settling a $18,330 loan due today by making 6 equal annual payments of $4,332.78. Click here to view factor tables What payments must Chris Taylor...

Dan borrowed $19,180. The loan is to be repaid by three equal payments due in 89,...

Dan borrowed $19,180. The loan is to be repaid by three equal payments due in 89, 120, and 291 days from now respectively. Determine the size of the equal payments at an interest rate of 10% with a focal date of today. The size of the equal payments is $___ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

3. A person will repay his debt today in 3 years with equal installments of 1000...

3. A person will repay his debt today in 3 years with equal installments of 1000 TL every month. Calculate the amount of debt per year at 1.8% compound interest. (25 points)

olin is due to pay $9000 in five years. If she makes three equal payments, in...

olin is due to pay $9000 in five years. If she makes three equal payments, in 20 months, 30 months, and 5 years from today, what is the size of the equal payments if money is worth 5.16% compounded monthly?

7. You borrow $35,000 today and will make equal annual payments for the next 3 years,...

7. You borrow $35,000 today and will make equal annual payments for the next 3 years, starting in 1 year. a. What is the value of the annual payment if the nominal interest on the loan is: 9.50% Payment b. Show the amortization of the loan in the table set up below: Year Beg. Balance Payment Interest Principal Ending Balance 1 2 3 TOTAL Excel function or formula answer please

A debt must be settled in two years, through payments of 6000 dollars every two months...

A debt must be settled in two years, through payments of 6000 dollars every two months overdue. The debtor agrees with his creditor to restructure the debt liquidating the debt in 3 years and a half with equal monthly payments due. Calculate the value of the new payments, if the The effective interest rate is 13% per annum.

A debtor owing payments of $750 due today, $1,000 due in 2 years, and $1,250 due...

A debtor owing payments of $750 due today, $1,000 due in 2 years, and $1,250 due in 4 years requests a payout figure to settle all three obligations by means of a single economically equivalent payment 18 months from now. What is that amount, if the payee can earn 9.5% compounded semiannually? (Do not round your intermediate calculations and round your final answer to the nearest cent.)

Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323...

Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.5% p.a. and the focal date is 115 days from now?

Ali wishes to replace payments of $1050 due today and $1250 due in 22 months by...

Ali wishes to replace payments of $1050 due today and $1250 due in 22 months by a single equivalent payment 18 months from now. If money is worth 3.8% compounded monthly, what should that payment be? Interim calculations to 3 decimals, final answer rounded to the nearest cent. (Total: 9 marks)

Scheduled payments of $1400 due today and $1600 due with interest at 11.5% compounded annually in...

Scheduled payments of $1400 due today and $1600 due with interest at 11.5% compounded annually in five years are to be replaced by two equal payments. The first replacement payment is due in 18 months and the second payment is due in 4 years. Determine the size of the two replacement payments if interest is 11% compounded quarterly and the focal date is 18 months from now.

Question