Carla borrowed $1049.00 from the Central Bank at 8.5% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of$219.00 per month. Construct a complete repayment schedule for the loan including totals for Amount Paid, Interest Paid, and Principal Repaid.Complete the repayment schedule below. (Round to the nearest cent as needed.)Payment Number01Balance Before Payment$1049.00Amount Paid$219.00Interest PaidPrincipal RepaidBalance After Payment$1049.00$$

The complete repayment schedule for the loan is shown in the table above. The loan is paid off in 5…

Answered: Carla borrowed $1049.00 from the…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Carla borrowed $1002.00 from the Merchant Bank at 8.4% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $220.00 per month. Construct a complete repayment schedule for the loan including totals Amount Paid, Interest Paid, and Principal Repaid. Complete the repayment schedule below. (Round to the nearest cent as needed.) Payment Number Balance Before Payment Amount Paid Interest Paid Principal Repaid Balance After Payment $1002.00 1 $1002.00 $220.00 2 $220.00 $ 3 $220.00 $ $ 4 $ $220.00 %$4 %$4 $0.00 Totals: $1 $
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Shelley borrowed $1022.00 from the Merchant Bank at 8.6% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments schedule for the loan including totals for Amount Paid, Interest Paid, and Principal Repaid. $219.00 per month. Construct a complete repayment Complete the repayment schedule below. (Round to the nearest cent as needed.) Payment Number Balance Before Payment Interest Pai Amount Paid Principal Repaid Balance After Payment $1022.00 $1022.00 $219.00 2 $219.00 %$4 $219.00 4. $219.00 5. %$4 $0.00 Totals:
Raymond borrowed $3,000.00 from Loans R Us Company. The line of credit agreement provided for repayment of the loan in equal monthly payments of $668.76 which includes interest of 9.00 % per annum calculated on the unpaid balance. a. What is the monthly rate of interest? b. Calculate the outstanding loan balance at the end of the third payment c. What are the total interest charges? d. How many payments are required to pay off the loan e. What is the final Payment
Carla borrowed $1,250 from the Royal Bank at 8.78% per annum calculated on the monthly unpaid balance. She agreed to repay the loan in blended payments of $180 per month. Construct a complete repayment schedule treating each month as 1/12 of a year. Do not include the dollar sign in your answers. Do not include the comma usually used to denote thousands. Calculate the sum of the Amount Paid column. Calculate the sum of the Interest Paid column. Check Next page
Jamie borrowed $900 from the Essex District Credit Union. The loan agreement provided for repayment of the loan in four equal monthly payments plus interest at 12% per annum calculated on the unpaid balance. What was the loan balance outstanding after the second payment? how much total interest did Jamie pay on this loan?
Robin borrowed $3000.00 from HSBC Bank Canada. The line of credit agreement provided for repayment of the loan in three equal monthly payments plus interest at 6.25% per annum calculated on the unpaid balance. Determine the total interest cost.
Use the actuarial method to find the payoff amount for the loan paid in full before its due date. Amount Financed: $9000 Regular Monthly Payment. $189 02 Total Number of Payments scheduled: 60 Loan repaid in full instead of making: 12th payment
You borrowed S3000 at 9% per annum calculated on the unpaid monthly balance and agreed to repay the principal together with interest in monthly payments of $500 each. Construct a complete repayment schedule. Complete the repayment schedule below. (Round to two decimal places as needed.) Principal repaid Payment Balance Amount Interest Balance number before paid paid after payment payment $3000 1 2 3 4 DODO OOOO
Anna received a loan of $29,000 at 4.5% compounded semi-annually. He had to make payments at the end of every half-year for a period of 6 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number 0 Payment Interest Portion Principal Portion Principal Balance $29,000.00
Caridad borrowed $18,500 at 11% ordinary interest for 160 days. After 60 days, she made a partial payment of $3,000. What is the final amount due on the loan? (Round to the nearest cent.) O $15,839.17 O $16,323.14 O $16,404.44 O $16,613.53
Krista borrowed $17,838. The loan is to be repaid by three equal payments due in 83, 167, and 283 days from now respectively. Determine the size of the equal payments at an interest rate of 8% with a focal date of today.

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