13 Answered Questions for the topic Loan

05/09/20

#### You want to buy a $202,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan for the rest.

a) How much is the loan amount going to be?b) What will your monthly payments be if the annual interest rate is 5%?c) What will your monthly payments be if the annual interest rate is 6%?

#### If i take loan on 3/11/20 for $5k, 36 months, apr 10.25%. How did they cal that mo pay is $162.82 for 1st 35 mo & final pay 36 mo is $162.79? What formula do they use or how they get that calculation?

The total finance charge is $861.43. Payments are due monthly. The daily rate is 0.028082. The first payment due date is 4/30/20. The payment is at the end of each month.

Loan Simple Interest

12/07/18

#### Find the amount paid for the loan

Help! “$2000 at 12% for three years, find the amount paid for the loan” I don’t get it.

12/05/16

#### Student Loan Debt Question

Here is the question:
A student takes on $30,000 of debt in September 1 of 2016 at an annual interest rate of 8%. She makes no payments while in school. On November 1, 2019 she prepares to...
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10/17/16

#### Loan - interest free

I can get a $4500 loan interest free for 15 months. How much do I pay monthly to pay it off in 15 months.

10/01/15

#### please help!!

A contract requires end-of-month payments of $180 for another 9 1/4 years. What would an investor pay to purchase this contract if she requires a rate of return of 3.6% compounded monthly? (Round...
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#### Lab 4 Ch. 10 Math Help

A 14-year loan requires month-end payments of $587.13 including interest at 8.4% compounded monthly. What is the balance on the loan after half of the payments have been made? (Do not round...
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#### Please Help!

A loan of $4,700 at 6.60% is to be repaid by three equal payments due four, six, and eight months after the date on which the money was advanced. Calculate the amount of each payment. Use the loan...
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Loan Interest

09/14/15

#### Loan Question

A $4900 loan at 9.6% compounded monthly was settled by a single payment of $5900 including accrued interest. Rounded to the nearest day, how long after the initial loan was the $5900 payment made?...
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#### Payment Question

Marilyn was supposed to pay $1590 to Bernice on March 15. Some time later Marilyn paid Bernice an equivalent payment of $1640.83, allowing for a time value of money of 2.7% compounded monthly. When...
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#### Loan Calculation (Payment)

A loan of $4,700 at 6.60% is to be repaid by three equal payments due four, six, and eight months after the date on which the money was advanced. Calculate the amount of each payment. Use the loan...
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