How much of the first annual payment will go towards paying down the principal?
You take out a loan for a $10,000 with 7% annual interest.
This loan must be paid in 10 equal payments. How much of the first
annual payment will go towards paying down the principal?
How much of the third mortgage payment will go to pay down the
principle?
Home Price: $339,000 USD
15% down payment of selling price
25 year term loan with a 3% annual interest rate
A principal of
$5500
is invested in an account paying an annual rate of
4%.
Find the amount in the account after
6
years if the account is compounded semiannually,
quarterly, and monthly.
(a) The amount in the account after
6 years if the account is compounded semiannually is
$
John purchased a house in Atlanta. He made no down payment so
the principal of the mortgage equals to the price of the house:
$234,000. The APR of his mortgage is 5%. The interest is compounded
monthly. He made an agreement with the bank that he would pay off
the mortgage in 30 years.
Six years later, the businessman did very well at his job. He
saved enough money to make a $80,000 payment to the lender to get
rid...
How much money is needed to establish a fund paying $80,000
annually forever with the first payment made immediately if the
fund will earn interest at 5% p.a. compounded weekly?
What does an amortization schedule show?
The portion of payment broken down to interest and
principal
The increase in loan outstanding
The increase to principal
The balance of interest outstanding
Calculate the annual coupon payment if the semi-annual coupon
paying bond price is $1,084, the yield for the bond is 9%, the
bond's face value is $1,000 and matures in 13 years.
Fifteen years ago a couple purchased a house for $230,000.00 by
paying a 20% down payment and financing the remaining balance with
a 30-year mortgage at 4.7% compounded monthly.
(a) Find the monthly payment for this loan.
(b) Find the balance of the loan after 16 years and after 17
years?
(c) Find the total amount of interest paid by the couple during
the 17th year.
Suppose you invest $10,000 into a fund paying 3.6% annual
interest. How much will you have after 5 years is the interest is
compounded:
a) Annually
b) Semi-Annually
c) Quarterly
d) Monthly
Sam decided to buy a property worth $200,000. He decided to put
10% towards down payment, for his loan for 30 years at the interest
rate of 5%. Answer following questions and write name of the
financial calculator used.
a. Loan amount =
b. Down payment=
c. Monthly payment=
d. Total of all the mortgage payments=
e. Total of Interest Payment
Suppose you purchase a new car today for $25,000. You pay $2,000
as down payment towards this purchase, and finance the balance over
5 years at an annual interest rate of 5%, the first payment to be
made in one month. Payments are made every month over the next 5
years. Calculate the monthly payment using both formula and
function method. (Hint: need to multiply time by 12 to find the
number of months and need to divide interest rate...