Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate. Monthly payments at $291.40 are made for 8 years to repay a loan at 6.8% compounded monthly. (Type an integer or decimal rounded to four decimal places as needed.) Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate.

Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate. Monthly payments at $291.40 are made for 8 years to repay a loan at 6.8% compounded monthly. (Type an integer or decimal rounded to four decimal places as needed.) Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate.

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

See similar textbooks

Similar questions

Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate. Monthly payments of $230.85 are made for 7 years to repay a loan at 5.65% compounded monthly. i= n= (Type an integer or decimal rounded to four decimal places as needed.)
Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate. Semiannual payments of $4,800 are made for 17 years to repay a loan at 7.45% compounded semiannually. i= 0.0372 (Type an integer or decimal rounded to four decimal places as needed.) n=34
Calculate the interest due for the monthly installment payment on a loan given the remaining principal and interest rate.Remaining principal = $22,021.59, interest rate = 13.3% Interest due = $ (Give your answer rounded to the nearest hundredth)
Create a loan repayment schedule for a loan of $30295 and payments of $8482 made annually. Assume a rate of interest of 6.13% per year compounded annually. What is the balance remaining after the second payment?
You have taken a loan of $92,000.00 for 35 years at a 4.9% annual interest rate, with interest compounded quarterly. Fill in the amortization table below to show how the payments will be applied to interest and principal: (Round all answers to 2 decimal places. Please note the order of the headings in the table - make sure you put the answers in the appropriate columns as layed out below.) Payment number Payment amount Principal Amount Interest 0) 1) 2) 3) $ LA tA +A LA $ Balance $92,000.00 tA LA
Find the i (the rate per period) and n (the number of periods) for the following loan at the given annual rate. Monthly payments of $304.05 are made for 3 years to repay a loan at 10.25% compounded monthly i = n=
Find the monthly payment for the loan indicated. (Round your final answer to two decimal places.) Amount of loan = $10,500 at an annual interest rate of 5.7% for 6 years.
Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $17,900 with an annual interest rate of 09.00%. The loan will be repaid over 22 years with monthly payments. 1. What is the Loan Payment? 2. What portion of this payment is Interest? 3. What portion of this payment is Principal? 4. What is the Loan balance after first monthly payment?
Determine the monthly payment for the installment loan. Amount Financed (P) =$1000 Annual Percentage Rate (r)= 4.5% ,Number of Payments per Year (n)= 12 ,Time in Years (t) =2
If you borrow $7,500 at $550 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.) a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective Rate of Interest % % %
Find the annual simple interest rate of a loan, where $900 is borrowed and where $1008 is repaid at the end of 18 months. Annual simple interest rate = %.
Use the table to find the monthly payments on the given loan. Amount Rate Time $63,000 12% 3 years table of monthly payments on a $1,000 loan. The monthly payments for this loan are? (Type an integer or a decimal.)