Related Finance Q&AFind answers to questions asked by students like you. Q: Prepare an amortization schedule for a three-year loan of $57,000. The interest rate is 8 percent… A: Amortization Schedule: It is a schedule showing the loan payments, principal amount, and interest on… Q: Prepare an amortization schedule for a three-year loan of $111,000. The interest rate is 10 percent… A: A loan amortization table is a schedule of payback of a loan in equal installments planned at a… Q: Prepare an amortization schedule for a three year loan of $57,000. The interest rate is 8% per year,… A: Given: Loan amount = $57,000 Interest rate =8% Years = 3 Q: Prepare an amortization schedule for a three-year loan of $108,000. The interest rate is 9 percent… A: In this we have to present value FACTOR and find annual equal payment. Q: Prepare an amortization schedule for a three year loan of P90,000. The interest rate is 10% per… A: Amortization means paying the debt over the period through regular payments. Amortization schedule… Q: Prepare an amortization schedule for a three year loan of P90,000. The interest rate is 10% per… A: A loan refers to borrowed money taken by a person from a lender in case of a shortage of money. It… Q: Establish loan amortization schedules for 3- year loan of 20.000 (initial loan) with equal payments… A: Given Years 3 Loan 20,000.00 RATE 5% Q: Establish loan amortization schedules for 3-year loan of $20,000 (initial loan) with equal payments… A: Loan amortization is a type of loan where the borrower is required to pay periodical or scheduled… Q: A 4 year loan of $125,000 with equal installment payments at the end of each year.The interest rate… A: Therefore, P*[1-1/(1+r)^n]/r = 125,000 => P*[1-1/(1+7%)^4]/7% = 125,000 =>P*[1-0.7628]/7% =… Q: A loan is amortized over five years with monthly payments at a nominal interest rate of 12%… A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower… Q: Prepare an amortization schedule for a three-year loan of $60,000. The interest rate is 6 percent… A: The amortization schedule can be prepared as follows: Q: Prepare an amortization schedule for a three-year loan of $60,000. The interest rate is 6 percent… A: Given Details: Loan = $60,000 Interest Rate=6% Period= 3Years Q: Compute the monthly payment on a $65,000 loan if the principal and interest are to be repaid in 84… A: Monthly payments could be computed by using the present value formula. Present value of all the… Q: Calculate the effective annual rate on each of the following loans: a. A $5,000 loan for two years,… A: Interest refers to the cost of money borrowed from a lender. It can be simple or compound. It is… Q: Calculate the effective annual rate on each of the following loans: a. A $5,000 loan for two years,… A: Interest refers to the cost of money borrowed from a lender. It can be simple or compound. It is… Q: You obtain a loan for 1,500,000 payable in three equal annual installments of 500,000 each. Interest… A: Annual principal payment = 500,000 Interest rate =10% Effective rate = 12% Q: A loan is amortized over 5 years with monthly payments at a nominal interest rate of 12% compounded… A: First monthly payment (M) = 200 Monthly growth rate (g) = 1% Monthly interest rate (r) = 12%/12 = 1%… Q: Determine the annual payment on a OMR15,000 loan that is to be amortized over a four-year period and… A: Given, A= OMR15,000 n=4 r= 10% Q: A loan of $14,800 is to be amortized with quarterly payments over 7 years. If the interest on the… A: Installment is the amount of periodic payments a borrower makes to its lender in order to pay back… Q: Prepare the amortization schedule for a 30 year loan of $100,000. Interest rate is 3% compounded… A: The amortization schedule can be prepared in excel for total 360 monthly payments. As it is not… Q: To borrow $600, you are offered an add-on interest loan at 9 percent. Two loan payments are to be… A: Given: Borrowed amount =$600Annual interest =9% Amount to be paid =Principal + Interest=$600 +… Q: Set up an amortization schedule for a $30,000 loan to be repaid in equal installments at the end of… A: PRINCIPAL (p)= $30,000 n=20 r=20% Q: A loan of $50,000 is to be amortized in 15 level annual payments. The interest rate for the first 5… A: Annual instalment of loan is calculated based on present value of annuity formula. Effective… Q: Establish loan amortization schedules for 3-year loan of $20,000 (initial loan) with equal payments… A: Answer Loan amount = $20,000 Interest rate = 5% Q: Establish loan amortization schedules for 3-year loan of $20,000 (initial loan) with equal payments… A: In this we have to find present value FACTOR and equal payment. Q: Establish loan amortization schedules for 3-year loan of $20,000 (initial loan) with equal payments… A: Payment at end of each year = Initial loan amount / PVAF ( Rate, Years ) Q: Establish loan amortization schedules for 3-year loan of $20,000 (initial loan) with equal payments… A: Using excel PMT function Q: Set up an amortization schedule for a $25,000 loan to be repaid in equal installment at the end of… A: Amortization Schedule refers to a table that shows the total amount of interest and principal… Q: Determine the interest rate you will pay if you are approved for a loan of $112,000 with annual… A: Interest Rate: It helps in the computation of the present value or future value of… Q: Calculate the finance charge and the monthly payment on a $20,000 add-on installment loan with an… A: The equivalent cost is the periodic payment made towards the acquisition of an asset or security for… Q: A borrower obtains a fully amortizing loan for $80,000 at 10 percent for 7 year. Payments are… A: Under constant amortizing mortgage, equal amount of loan is amortised in every period and interest… Q: A $11,000 loan is to be amortized for 10 years with quarterly payments of $351.14. If the interest… A: Loan amortization is a type of loan that needed borrower to make scheduled periodic payments applied… Q: A mortgage for $100,000 is made with initial payments of $500 per month for the first year. The… A: Given: The mortgage is $100,000 The initial payment is $500 The rate of interest is 9% Q: A $14,000 loan is to be amortized for 10 years with quarterly payments of $511.78. If the interest… A: An amortized loan is a type of loan with scheduled, periodic payments that are applied to both the… Q: A $14,000 loan is to be amortized for 10 years with quarterly payments of $467.98. If the interest… A: Given information: Loan amount $14,000 Number of years 10 Paying Quarterly $467.98 Interest rate is… Q: A $13,000 loan is to be amortized for 10 years with quarterly payments of $414.98. If the interest… A: Loan Amount= $13,000 Period= 10 years Quarterly payments= $414.98 Interest rate= 5% compounded… Q: A $13,000 loan is to be amortized for 10 years with quarterly payments of $414.98. If the interest… A: Click to see the answer Q: A $17,000 loan is to be amortized for 10 years with quarterly payments of $621.45. If the interest… A: Unpaid Balance after sixth payment is equal to present value of annuity of $621.45 remaining period… Q: Prepare an amortization schedule for a five-year loan of $71,500. The interest rate is 7 percent per… A: Amortization schedule for a five-year loan of $71,500 Caluclating Annual Payment on BA 2 PLUS… Q: Monthly payments are to be made against an $850,000 loan at 7.25% compounded annually with a 15-year… A: We compute Monthly Payment using PMT function in excel 1. Type =PMT and press tab key.2. Type… Q: Monthly payments are to be made against an $850,000 loan at 7.25% compounded annually with a 15-year… A: Note: As per Bartleby guidelines, only the first 3 subparts can be solved. Please post any other… Q: Monthly payments are to be made against an $850,000 loan at 7.25% compounded annually with a 15-year… A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If… Q: Monthly payments are to be made against an $850,000 loan at 7.25% compounded annually with a 15-year… A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for… Q: A $7500 loan at 9% compounded monthly requires three payments at five month intervals after the date… A: The loan is the borrowed money that has to return at the specified period with the given rate of… Q: Find the effective interest rate for a $20,000 for three years if the interest is compounded… A: Effective interest rate:Effective interest rate is also called as annual equivalent rate which is… Q: Use the add-on method for determining interest on a loan of $2410, with an annual rate of 9% and… A: Given data, Principal amount (P) = $2410 Rate of interest (r) = 9% Time (t) = 4 years Q: A basic ARM is made for $200,000 at an initial interest rate of 6 percent for 30 years with an… A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If… Q: What is the payoff amount for a loan with monthly payments of $366.69, immediately after 20 payments… A: The present value of an annuity is the current worth of a cash flow series at a certain rate of… Q: Suppose you are thinking of availing a loan of P100,000 at Pag-ibig Funds for house repairs after… A: A loan refers to the borrowed amount taken by a person from the lender in case of a shortfall of… Q: Elikplim Atayo took a loan facility of ¢1,000,000 from Amegbletor Bank ltd. He agreed to repay the… A: If a loan is taken, then the repayment should be made after some time period. The payment method… |