Question
In: Finance
Madelyn has a loan to be repaid by 16 annual payments at an effective annual interest...
Madelyn has a loan to be repaid by 16 annual payments at an
effective annual interest rate of 5%. Payments 1-10 are $600 each,
payments 11-14 are $380 each, and the last 2 payments are $570
each.
The interest portion in Madelyn's 13th payment is?
Solutions
jeff jeffy answered 1 year agoRelated Solutions
Madelyn has a loan to be repaid by 16 annual payments at an effective annual interest...
Madelyn has a loan to be repaid by 16 annual payments at an
effective annual interest rate of 5%. Payments 1-10 are $600 each,
payments 11-14 are $380 each, and the last 2 payments are $570
each.
The interest portion in Madelyn's 13 th payment is?
(I have already posted this question and they got 21.95%, which
is incorrect!)
A loan of 10000$ is to be repaid with annual payments, at the end of each...
A loan of 10000$ is to be repaid with annual payments, at the
end of each year, for the next 20 years. For the rst 5 years the
payments are k per year ; the second 5 years, 2k per year ; the
third 5 years, 3k per year ; and the fourth 5 years, 4k per year.
(a) Draw two timelines describing this series of payments. (b) For
each of the timelines in (a), find an expression for k...
James has a loan of 10,000, which is to be repaid with 10 level annual payments...
James has a loan of 10,000, which is to be repaid with 10 level
annual payments at an annual effective interest rate of 14.5%.
Calculate the Macaulay duration of the loan using the 14.5%
interest rate.
James has a loan of 10,000, which is to be repaid with 10 level annual payments...
James has a loan of 10,000, which is to be repaid with 10 level
annual payments at an annual effective interest rate of 14.5%.
Calculate the Macaulay duration of the loan using the 14.5%
interest rate.
A loan of $5000 is repaid with annual payments at the end of each year of...
A loan of $5000 is repaid with annual payments at the end of
each year of $1200,$800,$1300 and X. Assume the loan has 10%
effective interest per year. a) Determine X b) Determine the amount
of interest paid with the third payment.
A loan is to be repaid by twenty end of quarter payments of $1,000. The interest...
A loan is to be repaid by twenty end of quarter payments of
$1,000. The interest rate for the first two years is 6% convertible
quarterly, and last three years is 8% convertible quarterly. Find
the outstanding loan balance just after the 5th
payment.
Please don't use Excel! I'm looking to learn how to do it with
the formulas.
Donald takes out a loan to be repaid with annual payments of $500 at the end...
Donald takes out a loan to be repaid with annual payments of
$500 at the end of each year for 2n years. The annual effective
interest rate is 4.94%. The sum of the interest paid in year 1 plus
the interest paid in year n + 1 is equal to $720. Calculate the
amount of interest paid in year 10.
A loan of $10,000 is to be repaid with 10 semi-annual payments. The first payment is...
A loan of $10,000 is to be repaid with 10 semi-annual payments.
The first payment is X in 6 months time. i(2) = 4%. Find X if
a) Payments increase by $100 every 6 months.
b) Payments increase by 10% every 6 months.
An investor plans to borrow $20,000. The loan will be repaid in 5 annual payments. The...
An investor plans to borrow $20,000. The loan will be repaid in
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Use formulas and show step by step with calculations.
A loan will be repaid in 5 years with monthly payments at a nominal interest rate...
A loan will be repaid in 5 years with monthly payments at a
nominal interest rate of 9% monthly convertible. The first payment
is $1000 and is to be paid one month from the date of the loan.
Each succeeding monthly payment will be 2% lower than the prior
payment. Calculate the outstanding loan balance immediately after
the 40th payment is made.
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