4.21 Balloon Payments On 1 September 2019, Susan Chao bought a motorcycle for £15,000. She paid £1,000 down and financed the balance with a 5-year loan at a stated annual interest rate of 9.6 per cent, compounded monthly. She started the monthly payments exactly 1 month after the purchase (i.e., 1 October 2019). Two years later, at the end of October 2021, Susan got a new job and decided to pay off the loan. If the bank charges her a 1 per cent prepayment penalty based on the loan Page 90 balance, how much must she pay the bank on 1 November 2021?

30 Coco borrowed P100,000 and wishes to repay Kobe at the end of each month with payments of P3,000 for as long as necessary. Coco is charged by Kobe 9% interest compounded monthly. How much extra payment does Coco have to settle one month after the last regular level payment to discharge this loan?

b) Starting from 1* June 2021 with a fresh bank account, Ah Guan save RM320.00 into the bank account every month. A fixed interest of 0.8% is given on the last day of every month. Determine the date (the last day of a month after the interest is given) where he will be able to purchase a smartphone worth RM3126.00 *display your final answer as: [last day of the month] / month / year

NO2.1 Today is January 1, 2021. Jason borrows from Jessica $239,037 and agrees repay her by monthly installments. Payments will increase at a rate of 0.5% per month. The first payment of $1,000 is to be made exactly one month from today. However, after Jessica has worked out the time it will take for the entire loan to be repaid, she thinks it is too long. She proposes cutting the repayment time in half. Also, instead of growing payments, Jessica prefers a constant amount paid at the end of each quarter. The effective annual interest rate is 10%.

Jeanette took out a loan from the bank today for X. She plans to repay this loan by making payments of $100.00 per month for a certain amount of time. If the interest rate on the loan is 0.66 percent per month, she makes her first $100.00 payment later today, and she makes her final monthly payment of $100.00 in 12 months, then what is X, the amount of the loan? A O An amount less than $1,153.00 or an anmount greater than $1,324.00 O An amount equal to or greater than $1,153.00 but less than $1,199.00 O An amount equal to or greater than $1,199.00 but less than $1,245.00 O An amount equal to or greater than $1,245.00 but less than $1,275.00 O An amount equal to or greater than $1,275.00 but less than $1,324.00

3 Lia plans to buy a house for Php 158482. She wants to make a down payment of Php 23912 and to take out a 25-year mortgage for the remaining amount. If money is compounded monthly at 6.65%, how much must she pay each month? Round off to two decimal places.

Carol Travis started a paper route on January 1, 2020. Every three months, she deposits $1,050 in her bank account, which earns 8 percent annually but is compounded quarterly. On December 31, 2023, she used the entire balance in her bank account to invest in a contract that pays 6 percent annually. How much will she have on December 31, 2026? (Use a Financial calculator to arrive at the answer. Round "FV Factor" to 3 decimal places. Round your intermediate and final answer to the nearest whole dollar.) Future value

Kylie takes out a $12,500 loan on May 1, 2023, to be re-paid over 5.5 years, with the first payment at the end of that month. For the first 2 years, interest is charged at an annual rate of 4%. After that, the annual interest rate increases to 5.4%. What monthly payment is needed to ensure the loan is paid in time?

Assume that time today is Dec. 13, 2022. Determine what is being asked in each problem.1. Coco borrowed ₱100,000 and wishes to repay Kobe at the end of each month with payments of ₱3,000 for as long as necessary. Coco is charged by Kobe 9% interest compounded monthly. How much extra payment should Coco add to his last payment (paid along with the last payment) to completely discharge the loan?2. Coco borrowed ₱100,000 and wishes to repay Kobe at the end of each month with payments of ₱3,000 for as long as necessary. Coco is charged by Kobe 9% interest compounded monthly. How much extra payment does Coco have to settle one month after the last regular level payment to discharge this loan?

Pedro borrows P300,000.00 from lender  ABC today at 12% compounded monthly.          To fulfill his obligation to repay the loan, Pedro agreed  to  start paying the six (6) equal monthly   payments starting next month.   What will be the  amount of his monthly amortization? Construct an amortization schedule. Use a table similar to that found in our textbook.  What will be the outstanding balance of his loan at the end of  4 months from today?      If  Pedro failed to pay the 2nd and 3rd monthly amortization, how much shall   he the required single payment on the fifth month in order to fully pay his outstanding     obligation?             Supposed that  he will still not be able  pay the single total  payment on the Fifth month as stated in question d. above, and assuming further that both parties agree that the  outstanding obligations shall instead be  paid in  7 equal monthly installments, at 15% compounded monthly, starting on the  9th month,   what will the value of such monthly…