FIND THE SIMPLE INTEREST ON A 300,000 LOAN DUE IN 5 YEARS WHEN THE ANNUAL INTEREST RATE ON THE LOAN IS 16%. WHAT IS THE MATURITY VALUE OF THIS LOAN?
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FIND THE SIMPLE INTEREST ON A 300,000 LOAN DUE IN 5 YEARS WHEN THE ANNUAL INTEREST RATE ON THE LOAN IS 16%. WHAT IS THE MATURITY VALUE OF THIS LOAN?
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- a. What will be the monthly payment on a 30-year, $250,000 mortgage loan, where the interest rate is 6% per year, compounded monthly? How much interest is paid over the life of the loan? b. What will be the monthly payment on a 30-year, $250,000 mortgage loan, where the interest rate is 6% per year, compounded continuously? How much interest is paid over the life of the loan? c. What will be the monthly payment on a 15-year, $250,000 mortgage loan, where the interest rate is 6% per year, compounded monthly? How much interest is paid over the life of the loan?Consider a 15 year, fixed rate mortgage for $150,000 at a nominal rate of 8%. The loan comes with a facility to pay end of year installments. What is the duration of the loan? If interest rates increase to 8.25% immediately after the mortgage is made, how much is the loan worth to the lender?What is the yield to maturity on a simple loan for$1,500 that requires a repayment of $15,000 in fiveyears?
- What is the maturity value on a 6-year loan for S7, 585 if the annual simple interest rate is 6.1%? Round your answer to the nearest dollar.What is the yield to maturity on a simple loan for $1 million that requires a repayment of $2 million in five years’ time?If you take out an amortized loan of $33,000 with a 14 year term and 7.4% interest rate, what are the annual payments you need to make? Round to the nearest dollar.
- Suppose you take a 6 year loan of $50,000 with an annual interest rate of 13% and monthly payments starting at the end of year 1. What are the monthly loan payments? Enter your response below.Suppose you take a 30-year fixed-rate mortgage loan for $600,000 with a mortgage rate of 6%. How much do you still owe on the loan after 15 years?Suppose you obtain a mortgage loan of $210,000 at an annual interest rate of 5.0%. How much less is the interest paid over the life of a 10-year loan than over the life of a 25-year loan? Round your answer to the nearest cent.
- 1.What are the annual payments for a 4-year $4,000 loan if the interest rate is 9% per year? Make up a loan amortization scheduleConsider an amortized loan of $41,000 at an interest rate of 7.9% for 8 years. What is the total interest owed? Round to the nearest dollar.Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. b. How much will you pay in interest if you pay the minimum monthly payment each month?
