Question
In: Finance
A 30-year loan of 1,000 is repaid with payments at the end of each year. Each...
A 30-year loan of 1,000 is repaid with payments at the end of each year. Each of the first ten payments equals the amount of interest due. Each of the next ten payments equals 150% of the amount of interst due. Each of the last ten payments is X. The lender charges interest at an annual effective rate of 10%. Calculate X.
Solutions
jeff jeffy answered 1 year agoRelated Solutions
a 30 year loan of 1000 is repaid with payments at the end of each year....
a 30 year loan of 1000 is repaid with payments at the end of
each year. Each of the first 10 payments equals the amount of
interest due. Each of the next 10 payments equals 150% of the
amount of interest due. Each of the last 10 payments is X. The
lender charges interest at an effective annual rate of 10%.
Calculate X.
please explain, having much trouble with this problem,
Thanks!
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A loan is to be repaid in end of quarter payments of $1,000
each, with there being 20 end of quarter payments total. The
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and the interest rate for the last three years is 8% convertible
quarterly. Find the outstanding loan balance right after the
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A loan is being repaid with 20 payments of $ 1,000 at the end of each...
A loan is being repaid with 20 payments of $ 1,000 at the end of
each quarter. Given that the nominal rate of interest is 8% per
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method, (b) by the retrospective method.
A 10-year loan of 120,000 is to be repaid with payments at the end of each...
A 10-year loan of 120,000 is to be repaid with payments at the
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The first monthly payment is 800. Each additional payment will
be k more than the previous month payment. Find
k.
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
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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.
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year. Create a sinking fund table for this payment plan. Include a
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deposit that period, interest earned in the sinking fund that
period and the balance in the sinking fund at...
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each year, where each payment includes equal amount of repayment of
the principal and the interest at a rate of 5% based on the
outstanding balance after the previous payment. Immediately after
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In which month is the interest portion approximately equal to 5
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