Zachary's student loan of $28,000 at 4.42% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was the principal balance on the loan after 1 year? Round to the nearest cent
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?Cameron's student loan of $28,000 at 3.72% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? Round to the nearest centNicole's student loan of $26,000 at 4.62% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 3 years?
- Heather's student loan of $25,000 at 2.82% compounded quarterly was amortized over 5 years with payments made at the end of every month. What was the principal balance on the loan after 4 years? $0.00 Round to the nearest centScott's student loan of $22,500 at 3.42% compounded quarterly was amortized over 3 years with payments made at the end of every month. What was the principal balance on the loan after 2 years? $0.00 Question 1 of 6 Round to the nearest centA loan is repaid by making payments of $3456 at the end of every 3 months for 10 years. If interest on the loan is 5.8% compounded quarterly, what was the principal of the loan?
- Your bank offers you a personal loan of $22,000.00 at an interest rate of 4.69% compounded quarterly. At the end of the term, interest of $4,203.54 was charged on the loan. Calculate the term of this loan. years months Express the answer in years and months, rounded to the nearest month.John received a loan of $40,500, 6 years ago. The interest rate charged on the loan was 4.68% compounded quarterly for the first 6 months, 5.46% compounded semi-annually for the next 2 years, and 5.88% compounded monthly thereafter. a. Calculate the accumulated value of the loan at the end of the first 6 months. Round to the nearest cent b. Calculate the accumulated value of the loan at the end of the next 2 year period. Round to the nearest cent c. Calculate the accumulated value of the loan today. Round to the nearest cent d. Calculate the amount of interest charged on this loan over the past 6 years. jamie wants to double his money in 9 years in an investment fund. What quarterly compounding interest rate do you suggest that he looks for?Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $87,000 at an APR of 5%, which will be paid off with monthly payments of $592 for 19 years. ... a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ the annual interest rate is%, the number of payments per year is the loan term is the payment amount is $ There are 1 b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? payments toward the loan and the total amount paid is $. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is% and the percentage paid for interest is%. (Round to the nearest tenth as needed.) years, and
- Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $87,000 at an APR of 6%, which will be paid off with monthly payments of $594 for 22 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. the annual interest rate is %, the number of payments per year is The amount borrowed is $ payment amount is $ b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? payments toward the loan and the total amount paid is $ c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is% and the percentage paid for interest is (Round to the nearest tenth as needed.) There are %. the loan term is years, and theYou have taken a loan of $76,000.00 for 22 years at 5.2% compounded quarterly 1st-3rd month Payment/principal/interest amounts?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?
