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.
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 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 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 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 = 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 = 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% 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 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 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 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....