Question

In: Finance

i took out a 25 year loan for 275,000 at a 4% apr (semi-annual componding). what...

i took out a 25 year loan for 275,000 at a 4% apr (semi-annual componding). what will my outstanding balance be at the end of the loan initial 5 year term.

please show all work legibly to be understood

Solutions

Expert Solution


Related Solutions

The APR on a loan is 13.45%, compounded monthly. What is the effective semi-annual rate? Select...
The APR on a loan is 13.45%, compounded monthly. What is the effective semi-annual rate? Select one: a. 6.725% b. 6.916% c. 7.225% d. One cannot compare rates with different compounding frequencies.
Tak took out a loan for $5,000 at 4% interest. To repay the loan he must...
Tak took out a loan for $5,000 at 4% interest. To repay the loan he must make a payment of $672.46 at the end of each year for 9 years. How much of his second payment is interest?   The question we are interested in is this: After he has made payments for 3 years, how much will he still owe?  
You just took a $90,000, 10 years loan. The annual percentage rate (APR) is 8%. You...
You just took a $90,000, 10 years loan. The annual percentage rate (APR) is 8%. You are obligated to pay a flat payment at the end of each QUARTER. (a) Make a loan amortization table; (b) Plot a figure to show the flat payment, payment to interest, and payment in each quarter. SHOW IN EXCEL PLEASE
Schifano Motors of Italy recently took out a 4-year €5 million loan on a floating rate...
Schifano Motors of Italy recently took out a 4-year €5 million loan on a floating rate basis. It is now worried, however, about rising interest costs. Although it had initially believed interest rates in the Eurozone would be trending downward when taking out the loan, recent economic indicators show growing inflationary pressures. Analysts are predicting that the European Central Bank will slow monetary growth driving interest rates up. Schifano is now considering whether to seek some protection against a rise...
A 20 year loan of $50, 000 is taken out at effective annual interest i =...
A 20 year loan of $50, 000 is taken out at effective annual interest i = 6% for the first 10 years and then i = 7% for the next 10 years. Payments are constant at the end of each year. Find the outstanding balance after the 16th payment.
A 20 year loan of $50, 000 is taken out at effective annual interest i =...
A 20 year loan of $50, 000 is taken out at effective annual interest i = 6% for the first 10 years and then i = 7% for the next 10 years. Payments are constant at the end of each year. Find the outstanding balance after the 16th payment.
You borrowed $10,000 two years ago. The loan terms are: 5-year loan with APR of 25%...
You borrowed $10,000 two years ago. The loan terms are: 5-year loan with APR of 25% compounded monthly.   1. What is the monthly payment for the loan? 2. What is the loan balance today? 3. Today, you decide to pay off the loan in 20 months rather than the remaining life of the loan. How much more do you have to add to your monthly payment in order to accomplish the goal? Please include Excel formulas.
3. In 2015, I took out a student loan for $60,000 with a term of 12...
3. In 2015, I took out a student loan for $60,000 with a term of 12 years. My payments are monthly and interest is 3.3% annually, compounded monthly. (a) Determine my monthly payments for this loan. (b) How much total interest will I have to pay over the 12 year term of the loan? (c) Five years after taking out the loan (so now, in 2020), how much do I still owe on the loan? (d) How much interest have...
When you purchased your​ car, you took out a​ five-year annual-payment loan with an interest rate...
When you purchased your​ car, you took out a​ five-year annual-payment loan with an interest rate of 5.9% per year. The annual payment on the car is $5,000. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following​ scenarios? a. You have owned the car for one year​ (so there are four years left on the​ loan)? b. You have owned the...
1. When you purchased your car, you took out a five-year annual-payment loan with an interest...
1. When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 6.5% per year. The annual payment on the car is $4,500. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios? a. You have owned the car for the one year (so there are four year left on the loan)? answer: $15,416.09 b....
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT