To vacation with his family, Fer obtains a loan for $55,000 to be paid in 8 monthly installments with an annual interest rate of 25% compounded per month. Prepare an amortization table. Period 1 2 3 4 5 6 7 8 Rent Interests Amortization Unspent balances
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- Matthew purchased a house for $400,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 5.22% compounded semi-annually amortized over 15 years. The interest rate was fixed for a 7 year period. I! a. Calculate the monthly payment amount. Round to the nearest cent E hp SUBMIT QUESTION SAVE PROGRESS 12°C Partly sunny SUBMIT ASSIGNMENT ENG 10:05 8/5/20PLEASE TYPE IT AND NOT HANDWRITTEN A couple purchased a house and lot and signed a mortgage contract with a bank for P8,000,000 to be paid in equal monthly payments over 25 years with interest at 5.25%. Find the monthly payment and make out a partial amortization schedule showing the distribution of the first 6 payments as to interest and repayment of principal.Develop an amortization schedule for the loan described. (All answers should be entered in dollars. Round your answers to the nearest cent.) $50,000 for 2 1 2 years at 10% compounded semiannually Period Payment Interest Balance Reduction Unpaid Balance $50,000 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ 4 $ $ $ $ 5 $ $ $ $0.00
- Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the debt in 3 annual installments at the end of each year, which would include interest at 14%. Draw a time line for the problem. Indicate what table to use. Look up the table value and place it in a brief formula. Solve.Complete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home $ Down payment 75,000 $ Principal (loan) 4,000 $ 71,000.00 Rate of interest 5.5 % Years 30 Payment per $1,000 Monthly Martege Payment rMonica bought a $1,850 4K Ultra HD TV 20% down and payments of $296 per month (except for a smaller final payment) including interest at 16% compounded monthly. Construct the full amortization schedule for the debt. Calculate the total interest paid. (Do not round Intermedlate calculations. Round your answers to 2 declmal places. Leave no cells blank - be certaln to enter "O" wherever requlred.) Payment number Interest Principal portion $ Principal balance $ Рауment $ :冒三美 portion $ 296.00 296.00 1,480.00 1203.73 923.78 640.10 19.73 2. 16.05 1232 8.53 296.00 296.00 296.00 6215 eBook 4. 352.63 4.70 61.34 0.82 Print Total interest 24 6215 Mc Graw Hill X IN W T cornect
- Your father obtained a car loan payable in 5 equal payments of Php 16,700 at the end of evry month for the next 5 years with an annual rate of 9.5%. How much was he able to loan? Construct an amortization schedule. 3. 4. Regular Payment Unpaid Balance Reduction Unpaid Balance Period/Date Interest 10 11 12 13 14 15 16 17 18Amortization Table - Breaking Down Your Payment - No video This worksheet requires you to use the IPMT and PPMT funtions to calculate the loan balance, and the principle/interest portion of a loan payment at any given point in time. Be sure to use cell references. Initial Balance $10,000.00 Annual Interest Rate 10% Years 10 Annual Payemnt $1,627.45 Summary loan data for year 4 Balance at start of year Balance at end of year Interest paid during the year Principle paid during the yearBob Jones bought a new log cabin for $68,000 at 11% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Payment Portion to- Balance of loan Number Principal outstanding Interest 1 3. acer 2.
- Develop an amortization schedule for the loan described. (All answers should be entered in dollars. Round your answers to the nearest cent.) $90,000 for 2 years at 10% compounded semiannually Balance Reduction. Period 1 2 3 4 5 Payment $ S S $ $ $ S Interest $ $ $ $ $ Unpaid Balance $90,000 0000 $0.00Using MS Excel A couple purchased a house and lot and signed a mortgage contract with a bank for P8,000,000 to be paid in equal monthly payments over 25 years with interest at 5.25%. Find the monthly payment and construct an amortization table. (Show the first 6 payments only)o help purchase her new car, Nicole is taking out a S34,000 amortized loan for 6 years at 5.8% annual interest. Her monthly payment for this loan is $560.27. Il in all the blanks in the amortization schedule for the loan. Assume that each month is of a vear. Round your answers to the nearest cent. Payment number Interest Principal payment New loan payment balance 1 2$ 2 30 $104.91 $455.36 $21,250.60 31
