12. Determine the annual payment on a OMR500,000, 12 percent business loan from a commercial bank that is to be amortized over a five year period.
Q: 4. A loan is to be amortized for 7 years through equal payments of Php 48,532.49 each semiannually.…
A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: You take out a loan in the amount of $271,000 with annual equal repayments over the next 20 years.…
A: Annual Payment = P / ((1-(1+r)-n)/r) Where P = Principal Amount r = Rate of interest n = Numbers…
Q: 6. Construct an amortization schedule for a loan of RM5,000 to be amortized annually for 4 years at…
A: Loan (mortgage) amortization schedule refers to a schedule which is prepared to shows the periodic…
Q: 5. A bank gives a loan to a company to purchase an equipment worth P1,000,000 at an interest rate of…
A: Formula for calculating the installment amount is: EMI formula = [P*r*(1+r)^n]/[(1+r)^n - 1]
Q: 7. What lump-sum amount of interest will be paid on a 10,000 loan that was made on August 1, 2012,…
A: Given:- Principal Amount (P) =$10,000. Time period (T) = 9 years 3 months = 9.25 years (August 1,…
Q: 1. A fully secured loan of P30,000 was to be amortized by 10 equal semi-annual payments, the first…
A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…
Q: 3. If Php 10,000 was borrowed by Alan at an annual interest rate of 11%, and must be paid in 1 year…
A: Future value refers to the amount of the current asset at the future date which is grounded on the…
Q: ABC company must repay the bank a single payment of $50,000 cash in 5 years for a loan it entered…
A: Given, Repayment in 5 years = $50,000 Present value of 1 at 8% = 0.6806
Q: Find the payment necessary to amortize the loan. $120,000; 8% compounded annually; 10 annual…
A: Loan amortisation means determination of equal periodic loan payments. The loan payment amount(PMT)…
Q: Consider a loan of $98,000 at 7% compounded annually, with 12 annual payments. Find the following.…
A: Loan amortization can be defined as the procedure of amortizing the loan in such a way that the loan…
Q: If $120,000 is borrowed to AIB at 15% interest to be paid back over 20 years, how much of the…
A: Annual worth distributes present worth into equivalent uniform value over its useful life.
Q: Find the semiannual payments to repay a debt of P100,000 in 5 equal payments with interest at 12%…
A: An amortization schedule is defined as the table, which includes the complete detail of periodic…
Q: 4. Establish loan amortization schedules for 3-year loan of $20,000 (initial loan) with equal…
A: Answer Loan amount = $20,000 Interest rate =5%
Q: 4. What is the principal of a loan if the final amount is P250,000 at 8% compound interest,…
A:
Q: A loan of £4,000 is to be repaid over 5 years by a level annuity payable monthly in arrears. The…
A: Calculation of monthly payment: Periodic payment = [P x R x (1+R)^N]/[(1+R)^N-1]Where,P= Loan…
Q: Ahlam borrows AED 3,000,000 to be repaid over 6 years at 8 percent. What is the repayment of…
A: An annual mortgage payment is an annual payment that is to be paid for a specific period of time to…
Q: A loan of P100,000 must be repaid by a uniform amount every year for 10 years at 10% interest per…
A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…
Q: For 20-year, $100,000 loan at 4.5% APR (same as above) what portion of the monthly payment in Month…
A: A loan is a borrowed amount by one person from another person. The borrower expects to pay a…
Q: Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $77,000 at an APR…
A: Borrowed amount = $77,000 Annual interest rate = 7% Number of payment per year = 12 Loan term = 23…
Q: A loan of P40,000.00, with interest at 6% payable semiannually is to be amortized by equal payments…
A: Loan (X) = P 40000 r = 6% per annum = 3% semiannually n = 5 years = 10 payments Let periodic payment…
Q: China Banking Corporation granted a loan to a borrower on January 1, 2020. The interest rate on the…
A: The carrying amount is the cost of a resource as reflected in an organization's books or accounting…
Q: For a repayments schedule that starts at the end of year 5 at $A and proceeds for years 6 through 40…
A: A loan is a type of borrowing that is taken from a financial institution by a borrower and the…
Q: A debt of P100,000 is to be discharged by ten semi-annual payments, the first to be made 6 months…
A: To approach this question, instead of using any formula, we should make payment table so as to get…
Q: of 12% per
A: Effective Rate-: The Effective Interest Rate, is simply an effective yearly or interest rate, annual…
Q: For a mortgage loan of £100,000 that is to be repaid by a level annuity, payable annually in arrear…
A: Given that, Present Value (PV)=£100,000 Duration (n)=20 Rate of interest (i)=0.08 Annual Payment…
Q: Construct an amortization schedule for a $1,000, 12% annual rate loan with 4 equal installments.…
A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…
Q: 4. Establish loan amortization schedules for 3-year loan of $20,000 (initial loan) with equal…
A: Amount of Loan = $20000 Interest Rate(r) = 5% Year (n)= 3 Let Annual Installment =P
Q: 5. Construct an amortization schedule for a four-year, RM10,000 loan at 6% interest compounded…
A: An amortized loan is a type of loan that requires periodic payments that are applied to both…
Q: 13. Determine the annual payment on a OMR15,000 loan that is to be amortized over a four-year period…
A: The PMT function or concept can be used to determine the periodic payments required to accumulate a…
Q: Bank A pays 6% simple interest annually on its investment accounts. If Bank B pays interest on its…
A: Bank A: Simple Interest Rate (r) = 6% or 0.06 (Annually)Time Period (t) = 10 years…
Q: 4. Establish loan amortization schedules for 3-year loan of $20,000 (initial loan) with equal…
A: Installment = Initial Loan amount / PVAF ( rate, years )
Q: 0 is to be amortized by equal payments at the end of every quarter for 2 years. If the interest…
A: Debt refers to the desired sum of money borrowed by an individual or an entity through any financial…
Q: 4) Set up an amortization schedule for a $25,000 loan to be repaid in equal installments at the end…
A: The amortization table and Percentages of payments represents interest and principal are as follows:
Q: Construct the amortization schedule for a $7000 debt that is to be amortized in 5 equal quarterly…
A: First we nee to calculate equal installment amount by using this equation PMT =PV*i1-1(1+i)n Where…
Q: 3. A debt of P3,500 is to be amortized by 6 equal semiannual payments with interest at 6%compounded…
A: Debt amount (PV) = P 3500 Number of semi-annual payments (n) = 6 Interest rate = 6% Semi annual…
Q: A deposit of $3,000 is made in a savings account that pays 7.5% interest compounded annually. How…
A: Compound Interest is calculated by multiplying the initial principal amount by one plus the annual…
Q: Using the PVIFA table determine the annual payment on a $600,000, 10 percent, business loan from a…
A: Given the loan amount is $600,000 at a 10 % interest rate for 5 years. PVIFA tbale of future value
Q: A LOAN OF P100,000 MUST BE REPAID BY A UNIFORM AMOUNT EVERY YEAR FOR 10 YEARS AT 10% INTEREST PER…
A: Solution: Amount of periodic payment = P100,000 / Cumulative PV factor at 10% for 10 periods…
Q: Determine the value at the end of three years of a $10,000 investment (today) in a bank certificate…
A: The formula to calculate future value is given below:
Q: You borrowed $120,000, agreeing to pay the balance in 12 equal annual installments at 9% annual…
A: Loan is the sum of money which is borrowed by the borrower from the lender and the amount is paid…
Q: 1. If P5,000 is invested in a time-deposit for 2 years in a bank that offers 4% annual interest…
A: Future Value: The future value is the amount that will be received at the end of a certain period.…
Q: you borrow $20,000 from a bank to be repaid in three equal annual instalment at 9% interest…
A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…
Q: e the equal, annual, end of year payment required for each year over the life of the loan shown in…
A: The given problem can be solved using PMT function in excel. PMT function computes instalment amount…
Q: A fully secured loan of P30,000 was to be amortized by 10 equal semi-annual payments, the first…
A: Loan amount (L) = P 30000 Total payments (n) = 10 r = 12% per annum = 6% semiannually Let semiannual…
Q: Determine the annual payment on a OMR 500,000 and 12 percent business loan from a commercial bank…
A: given, p=OMR 500,000 r=12% n=5 years
Q: Prepare an amortization schedule for a three-year loan of $60,000. The interest rate is 6 percent…
A: The amortization schedule can be prepared as follows:
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Determine the annual payment on a OMR 500,000 and 12 percent business loan from a commercial bank that is to be amortized over a five year period.Using the PVIFA table determine the annual payment on a $600,000, 10 percent, business loan from a commercial bank that is to be amortized over a five-year period5. A bank gives a loan to a company to purchase an equipment worth P1,000,000 at an interest rate of 18% compounded annually. This amount should be repaid in 15 yearly equal installments. Find the installment amount that the company has to pay to the bank.
- 5. Assume you deposit RM1,000 into a savings account every three months that compounds interest semiannually. a. Determine the payment period (PP) and compounding periods (CP) b. State the payment period greater than or less than the compounding period.7. The remainder on a home loan is refinanced by a bank. The refinanced loan is a 15-year loan for $176,200 scheduled to be paid off using monthly payments. The annual percentage rate for the loan is 3.15% a. Identify the APR for this loan in decimal form. Use four decimal place accuracy. b. Identify the number of payments per year used in the loan payment formula. C. Calculate the monthly payment required to pay off this loan. d. Calculate the total amount of all the payments required to pay off this loan. e. Calculate the total amount paid towards interest after the loan is paid off. f. Calculate the percentage of the total amount that is paid towards interest.A) Calculate the final loan amount of a $500 credit card loan with a 16% compound interest rate, compounded monthly, for a 1-year term. $86.14 $586.14 $583.20 $580.00
- A bank makes an amortizing loan of $200,000 with a maturity of 8 years and equal payments every year. What is the principal outstanding at the end of year 6 if the interest rate is 6%? A $27,041.78 B $30,384.41 C $59,048.42 D $86,092.20Create 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?You borrowed $200,000 from the Bank of Nova Scotia. The loan is to be repaid at the end of five (5) years. The bank is to receive 8% interest on the loan balance that is outstanding. i. Calculate the yearly payment on a $200 000 loan. ii. Prepare an amortization schedule for this loan. iii. What is the loan balance just after the end of year two (2)? iv. What is the total interest paid over the life of the loan? v. What is the effective rate of interest on the loan if interest is compounded quarterly?
- H3. Metro bank offers one-year loans with a 9 percent stated rate, charges a ¼ percent loan origination fee, imposes a 10 percent compensating balance requirement, and must pay a 6 percent reserve requirement to the Federal Reserve. What is the return to the bank on these loans? Please show proper step by step calculation and give answer within 1 hourYou have approached your bank for a 30 year mortage loan in the sum of $2,160,000. The bank has agreed to lend you the money at the annual rate of 6.32% a Caluate the montly repayment on this loan b Compute the interest payment for the first month of the loan based on the answer in a.A bank charges an interest rate of interest is 6% compounded annually. A customer takes a loan of $159,348.29, which is to be paid back by annual payments of $18,000 at the end of each year for 13 years. What is the outstanding balance of the loan after the 2nd year? a. $141,963.74 b. $20,224.80 c. $37,080.00 d. $123,348.29 e. $33,001.07