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%?

03/13/20

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.

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... more

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.

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... more

09/20/15

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... more
Loan Math Payment

09/16/15

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... more
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?... more

09/08/15

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... more
Loan Math Payments

08/24/15

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... more

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