A loan of EGP 30,000 is to be amortized with 10 equal monthly payments at j12...

A loan of EGP 30,000 is to be amortized with 10 equal monthly payments at j12 = 12%. Find the outstanding principal after paying the third monthly payment.

choose:

21310.04

3167.9

24235.56

Expert Solution

The balance after paying the third monthly payment is 21,310.04

Please see the amortization schedule for calculations:

Screenshot with formulas

Can you please upvote? Thank You ;-)

jeff jeffy answered 1 year ago

Loan of $20000 with interest at j2 = 10%, is to be amortized by equal payments...

Loan of $20000 with interest at j2 = 10%, is to be amortized by equal payments at the end of each 6 months over a period of 20 half-years. Using the Retrospective Method, Determine the outstanding balance at the end of 12 half-years. choose 25549.22 10374.36 10367.9

An $8000 loan is to be amortized with equal monthly payments over a 2 year period...

An $8000 loan is to be amortized with equal monthly payments over a 2 year period at j (12) = 8 %. Find the outstanding principal after 7 months and split the 8 th payment into principal and interest portions. outstanding principal after 7 months is? the principal in the 8 th payment is? the interest in the 8 th payment is?

A $10,000 loan is to be repaid in monthly equal payments in 10 years with an...

A $10,000 loan is to be repaid in monthly equal payments in 10 years with an annual effective interest rate of 19.56% charged against the unpaid balance. What principal remains to be paid after the third payment?

loan of size A is to be amortized by monthly payments of $1000. The rate of...

loan of size A is to be amortized by monthly payments of $1000. The rate of interest on the loan is j 12 = 18%. The outstanding balance immediately after the 4 th monthly payment is $12,000. How much principal is repaid in the 12 th monthly payment? $914.50 $923.72 $910.07 $896.62

Loan of $10000 with interest at j4 = 12%, is to be amortized by equal payments...

Loan of $10000 with interest at j4 = 12%, is to be amortized by equal payments at the end of each quarter over a period of 30 quarters. Using the Retrospective Method, Determine the outstanding balance at the end of 12 quarters. 7017.04 14257.61 7016.84

A loan of $10,000 is amortized by equal annual payments for 30 years at an effective...

A loan of $10,000 is amortized by equal annual payments for 30 years at an effective annual interest rate of 5%. The income tax rate level is at 25%. Assume the tax on the interest earned is based on the amortization schedule. a) Determine the income tax in the 10th year b) Determine the total income taxes over the life of the loan c) Calculate the present value of the after-tax payments using the before-tax yield rate. Answer to the...

The following loan is a simple interest amortized loan with monthly payments. (Round your answers to...

The following loan is a simple interest amortized loan with monthly payments. (Round your answers to the nearest cent.) $7000, 9 1/2%, 4 years

Ali has a $35,000 student loan at 4.40% compounded monthly amortized over 10 years with payments...

Ali has a $35,000 student loan at 4.40% compounded monthly amortized over 10 years with payments made at the end of every quarter. a. What is the size of Ali's payments at the end of every quarter? b. What was the principal portion of payment 13? c. What was the size of Ali's' final payment?

Consider a mortgage loan of $300,000, to be amortized over thirty years with monthly payments. If...

Consider a mortgage loan of $300,000, to be amortized over thirty years with monthly payments. If the annual percentage rate on this mortgage is 4% : What is the monthly payment on this loan? What is the balance of this loan AFTER the 14th payment is made? How much of the 8th payment is allocated to interest? How much of the 19th payment is allocated to principal?

A loan amount of L is amortized over six years with monthly payments (at the end...

A loan amount of L is amortized over six years with monthly payments (at the end of each month) at a nominal interest rate of i(12) compounded monthly. The first payment is 500 and is to be paid one month from the date of the loan. Each subsequent payment will be 1% larger than the prior payment. (a) If i(12) = 9%, find the principal repaid in the 25th payment. (b) If i(12) = 12%, find the amount of loan...

Question