Question

In: Finance

Consider a loan for $100,000 to be repaid in equal installments at the end of each...

  1. Consider a loan for $100,000 to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 7% compounded annually. What is the remaining balance of the loan after 2 years?

    $63,456

    $24,389

    $64,005

    $75,611

    $51,222

Solutions

Expert Solution

Ans is $ 64,005

Calculations-

Here,
Fv is the future value of loan
rate is the periodic interest rate
nper is no. of periods
pmt is the periodic payments
Pv is the present value of loan
type = 0 if the amount is paid at the end of the year ,1 if it is paid at the beginning.

Please upvote if the answer is helpful.In case of doubt,do comment.Thanks.

jeff jeffy answered 2 years ago
Next > < Previous

Related Solutions

Consider a loan for $100,000 to be repaid in equal installments at the end of each...
Consider a loan for $100,000 to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 6% compounded annually. What is the remaining balance of the loan after 2 years?
Consider a loan for $100,000 to be repaid in equal installments at the end of each...
Consider a loan for $100,000 to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 5% compounded annually. What is the remaining balance of the loan after 2 years ? $62,900 $76,903 $62,336 $23,097 $53,805
Consider a $35,000 loan to be repaid in equal installments at the end of each of...
Consider a $35,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 6%. Set up an amortization schedule for the loan. Round your answers to the nearest cent. Enter "0" if required Year Payment Repayment Interest Repayment of Principal Balance 1 $   $   $   $   2 $   $   $   $   3 $   $   $   $   4 $   $   $   $   5 $   $   $   $   Total $   $  ...
Consider a $30,000 loan to be repaid in equal installments at the end of each of...
Consider a $30,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 6%. Set up an amortization schedule for the loan. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter "0". Year Payment Repayment Interest Repayment of Principal Balance 1 $   $   $   $   2 $   $   $   $   3 $   $   $   $   4 $   $   $   $  ...
Consider a $50,000 loan to be repaid in equal installments at the end of each of...
Consider a $50,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 10%. Set up an amortization schedule for the loan. Round your answers to the nearest cent. Enter "0" if required Year Payment Repayment Interest Repayment of Principal Balance 1 $    $    $    $    2 $    $    $    $    3 $    $    $    $    4 $    $    $    $    5 $    $    $    $    Total $    $   ...
A loan of 100,000 is being repaid by 15 equal installments made at the end of...
A loan of 100,000 is being repaid by 15 equal installments made at the end of each year at 6% interest effective annually. Immediately after the eighth payment, the loan is renegotiated as follows: (i) The borrower will make seven annual payments of K to repay the loan, with the first payment made three years from the date of renegotiation. (ii) The interest rate is changed from 7.5% effective annually. Calculate K (do not use excel) (A) 11,068 (B) 11,666...
Amortization Schedule Consider a $15,000 loan to be repaid in equal installments at the end of...
Amortization Schedule Consider a $15,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 7%. Set up an amortization schedule for the loan. Do not round intermediate calculations. Round your answers to the nearest cent. If your answer is zero, enter "0". Year Payment Repayment Interest Repayment of Principal Balance 1 $   $   $   $   2 $   $   $   $   3 $   $   $   $   4 $   $  ...
Amortization Schedule Consider a $30,000 loan to be repaid in equal installments at the end of...
Amortization Schedule Consider a $30,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 6%. Set up an amortization schedule for the loan. Round your answers to the nearest cent. Enter "0" if required Year Payment Repayment Interest Repayment of Principal Balance 1 $   $   $   $   2 $   $   $   $   3 $   $   $   $   4 $   $   $   $   5 $   $   $   $   Total...
a. Complete an amortization schedule for a $44,000 loan to be repaid in equal installments at...
a. Complete an amortization schedule for a $44,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 11% compounded annually. Round all answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $   $   $   $   $   2 $   $   $   $   $   3 $   $   $   $   $   b. What percentage of the payment represents interest and what percentage represents principal...
a. Complete an amortization schedule for a $38,000 loan to be repaid in equal installments at...
a. Complete an amortization schedule for a $38,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 12% compounded annually. Round all answers to the nearest cent. Beginning Balance -Payment -Interest -Repayment of Principal -Ending Balance 1 $ $ $ $ $ 2 $ $ $ $ $ 3 $ $ $ $ $ b. What percentage of the payment represents interest and what percentage represents principal for...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT