lve the following question with complete solution and include cash flow diagram: (DO NOT USE EXCEL) (Handwritten/Type only) Equal end of year payments of $263.80 each are being made on a $1,000 loan at 15% per year compounded monthly. a. How many payments are required to repay the entire loan?____ b. Immediately after the third payment, what lump sum amount would completely pay off the loan? _____ (Round off the interest rate to
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Solve the following question with complete solution and include cash flow diagram: (DO NOT USE EXCEL) (Handwritten/Type only)
Equal end of year payments of $263.80 each are being made on a $1,000 loan at 15% per year compounded monthly.
a. How many payments are required to repay the entire loan?____
b. Immediately after the third payment, what lump sum amount would completely pay off the loan? _____
(Round off the interest rate to 5 significant places and final answer to 2 decimal)
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Solved in 4 steps
- Show cashflow diagram and solution (not on ms excel pls) a loan association lends money at the rate of 15% compounded semiannually. A man borrows P50,000 payable in 16 semiannual installments, the first payment due at the end of two years reckoned from the date of the loan. how much is each of the semiannual installments?Suppose that you need an amount of money which equals to $10000000. It is possible to find it from bank A at an annual interest rate of 18% under 12 equal payment. If the first payment will be 1 month later the day you used the loan. Find the CF (Cash Flow), the equal payments and prepare the amortization table.It is important to know how to build an amortization schedule when firms (or individuals) take out bank loans. It all start with calculating the monthly payment using the formula below.using the formula provided, do calculations to confirm the monthly payment for that loan based on the following information Loan amount (P): $60,000 Number of periods (n): 3 years = 36 months Interest (i): 12% per year = 1% per month (should be expressed as 0.01)
- A loan of $17,500.00 is repaid by making annual payments of $5,781.10 at the end of each year. If interest is 6.13% compounded annually. How many payments are required to amortize the loan? Round UP the answer to the next higher whole number (e.g. 5.12 must be entered as 6). Number of payments = whole number) PV=$ 2) (enter a 3) 4) Complete the amortization table below. Enter only POSITIVE VALUES IN THE AMORTIZATION TABLE (rounded to two decimal places). Total Payment number Payment amount Interest Paid Principal Repaid Balance 0) $17,500.00 1) FA tA I/Y= $ PMT=$ $ GA FA A SA FA GA P/Y=C/Y= GA FV=$ A GA GA EA $H3. The interest rate on a $6400 loan is 7% compounded semi-annually, and the loan is to be repaid by monthly payments of $155. Construct a partial amortization schedule showing the last 2 payments. Determine the total amount paid to settle the loan. Show work, not just the answer. Determine the total principal repaid. Determine the total amount of interest paid. Show work, not just the answer.A bank loan requires you to pay $88,000 at the end of each of the next eight years. The interest rate is 10%. a. What is the present value of these payments? b. Complete the following amortization table. Complete this question by entering your answers in the tabs below. Required A Required B Complete the following amortization table. Note: Negative amounts should be indicated by a minus sign. Round intermediate calculations and final answers to the nearest whole dollar amount. Year 1 2 3 4 5 6 7 8 Beginning Balance Payment Interest (10%) Loan Reduction Ending Balance Required A Required B
- An accounting firm agrees to purchase a computer for $180,000 (cash on delivery) and the delivery date is in 270 days. How much do the owners need to deposit in an account paying 0.85% compounded quarterly so that they will have $180,000 in 270 days? (a) State the type. sinking fund amortization present value future value ordinary annuity (b) Answer the question. (Round your answer to the nearest cent.) $What single payment at the beginning of year 2 is equivalent to an equal annual series of payments of $8000 beginning at the end of year 3 and ending at the end of year 8? Use i = 10 % compounded annually. (using cash flow diagram is recommended)Solve the following question with complete solution (do not use excel) and include cash flow diagram in handwritten form: A person buys a piece of lot for Php 148817 down payment and 10 deferred semi-annual payments of P 5,000 each, starting 8 years from now. What is the present value of the investment if the rate of interest is 13% per year compounded quarterly? (Round off the interest rate to 5 decimal places)
- Equal end of year payments of $263.80 each are being made on a $1,000 loan at 15% per year compounded monthly. a. How many payments are required to repay the entire loan? b. Immediately after the third payment, what lump sum amount would completely pay off the loan? INCLUDE THE CASH FLOW DIAGRAM OF THIS PROBLEM AND ROUND OFF INTEREST RATE TO 5 DECIMAL PLACES AND YOUR FINAL ANSWER TO 2 DECIMAL PLACES.1. Suppose you borrow $16,000. The interest rate is 9%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0".To pay off a 100 000 00 loan, it is required that 20 semiannual payments that increase by 500.00 be made. determine the amount of the first payment if it due six months after the loan is made and interest if 7% compounded semi annuanly. draw the cash flow tnx.