13 Answered Questions for the topic Loan
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.
How much interest is charged on a $10,000 loan at 10.3% interest if payments are $255.07 a month for 4 years
What lump sum must you deposit an 8.9% annual Intrest rate, compounded quarterly, in order to have $30,000 in the fund at the end of 15 years
Loan Simple Interest
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.
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.
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
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
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
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
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