Doris purchased a Steinway concert piano for $132,000 with a down payment of 25%, and a loan for the balance. If she made equal monthly payments of $1650 at 4.95% compounded semi-annually, how long will it take to pay off the loan? (Give your answer in years and months) PLEASE PROVIDE FINANCIAL CALCULATOR TABLE
Q: Company Z borrows EUR 1 million from the Bank at an annual interest rate of 3,5% for one year. The…
A: Tax shield Interest on the borrowed amount is a tax deductible item. So, it provides savings in the…
Q: 10. Antonio asks for a one-year loan at a bank when the one-year Treasury rate is 2%. a. If the loan…
A: When companies are unable to finance the requirement of business they take the help of loans. loans…
Q: Becky Martinez owns stock in GBX Corporation. The GBX stock has a current market value of $70 a…
A: The following information has been provided in the question: Current market value of GBX stock =$70…
Q: CAM Precision Sdn. Bhd. is an advanced manufacturing company listed in Top 100 hi- n global ranking.…
A: Investment RM(200*1,000)+15000 Interest Rate 8% Time Period 4 1b) Interest…
Q: X-person has committed to a payment that needs to pay BD 80,000 every year at the end of each next…
A: Future value of investment includes the amount being deposited and interest being accumulated over…
Q: pany is considering the purchase of a new machine to replace an obsolete one. The machine being used…
A: NPV= Present value of cashinflows - Prsent value of cashoutflows.
Q: You just bought you first house using a 30-year, 2.5% per year mortgage, fo What will your monthly…
A: The following information has been provided in the question: Time period= 30 years Interest=2.5% per…
Q: Project C requires an initial outlay at t = 0 of $2,000, and its cash flows are the same in Years 1…
A: IRR refers to the internal rate of return. It is an important capital budgeting tool.
Q: A sum of $2000 is deposited in a time-deposit account that pays interest at a rate of 3% per annum.…
A: a) Given: Principal "P" = $2000 Interest arte per annum "r" = 3% Number of years "t" = 2
Q: f a bond can be purchased for $60 and has a maturity value at the end of 10 years of $500, what is…
A: As per the information provided: Purchase value of a bond - $60 Maturity value - $500 Period (n) -…
Q: What are the benefits of merging and diversifying one's assets in order to lower one's risk?
A: Merger is reflective of a corporate event in which companies are coming together with each other to…
Q: A real estate developer bought land for $170 000.00 down and monthly payments of $8 450.00 for 5…
A: Here, Down payment = $170,000 Monthly payment = $8,450 Time period = 5 years Interest rate = 8.75%…
Q: ed $250 000 in his RRSP. Determine the monthly deposits he should make into his RRSP if the rate…
A: There is need of proper planning for retirement and timely need of planning for retirement and if…
Q: verage of 6.6% and the bond B yields 5.8%. Matt requires that least 2 times as much money be…
A: Bonds are paid annual interest rate on them and face value is paid on the maturity of bond only.
Q: Use the Buying a Car information above to answer this question. What is your monthly payment if you…
A: Price of Car is $27,600 Down Payment is $0 Financing rate is 0% Time period is 48 months To Find:…
Q: the benefits of merging and diversifying one's assets in or
A: Merging is making one asset out of two and diversifying is increasing investment in different types…
Q: Which of the following are macroeconomic issues? (Select all that apply.) Where will Google locate…
A: The correct answer is second and last option. The macro economic factors take into account the…
Q: (1) Determine how much will his daughter be able to withdraw each year starting in year 18 and…
A: In Step 1, calculate the future value of the amount saved from year 0 to 17 or the future value of…
Q: Calculate the daily and annual rate on interest charged on a payday loan of $400 if the interest c…
A: Payday loans are small period loans on which interest is charged as lump sump amount on the original…
Q: Jackie Marte purchased tve $1000 corporate bonds issued by Starbucks The bonds pey 5.90 percente…
A: Interest per annum can be calculated as: = Face Value of the Bond * Coupon rate
Q: Amalgamated Industries has Sales of 3,000, COGS of 1,000, and EBIT of 1,200. If Depreciation is 300,…
A: Here; We have Sales of $3,000 COGS of 1,000 EBIT of 1,200 Depreciation expense is 300 Interest…
Q: 5. Interest rate. A 2-year loan of $4650.25 accumulated $269.75 in simple interest. Calculate the…
A: Simple interest rate Is very simple interest rates and no effect of compounding of interest it…
Q: I will give an upvote if you follow my instructions. thank you. please skip if you have already done…
A: The question is related Classification of Cost. It means the grouping of costs according to their…
Q: Net Operating Incom Earnings Before Tax Net Income/Earnings
A: The operating income made from continuous activities is reported as operating income which is…
Q: an organization has a loaned BD 820,000 to buy the needed machines. The loan holds an interest rate…
A: Annual payment: Fixed regular Payment made annually for loans for the entire cycle of the loan is…
Q: Chrissy is looking to buy a delivery fee. She is considering the following two credit Financing…
A: Monthly payments refer to the amount which is to be due and paid at a certain period of months for…
Q: Suppose you want to have $800,000 for retirement in 20 years. Your account earns 6% interest. How…
A: Solution:- When an equal amount is deposited each period, it is called annuity. Future value of…
Q: d. If the company can issue $1,000-par-value, 12% coupon, 11-year bonds that can be sold for $1,180…
A: Cost of Debt: It represents the cost of raising capital for the issuer from the investors. The debt…
Q: An eight-year note for $4000 issued on November 1, 2016, with interest at 6.2% compounded quarterly…
A: Present Value of the note = $4,000 Rate of interest = 6.2% Duration of the bond(n)=8 years
Q: annual premiums. What would be the future value of the annual savings over ten years based on an…
A: Future Value of Annuity: It represents the future value of the present annuity cash flows. It is…
Q: You are purchasing a new car for $27,600. The dealership offers you three options: • 0% financing: 0…
A: Car Price = $27,600 Time Period(Months) = 48 Interest Rate = 0% Down Payment = $0
Q: discount rate of ELN calc
A: The equity-linked note refers to the instrument known as debt on which a fixed amount of interest…
Q: Question 5 If Victor's annual earnings are $79300, and he has 3 unpaid vacation weeks per year, what…
A: Assuming there are 52 weeks per year Total paid weeks = 52 - 3 = 49 weeks
Q: This year, Amalgamated Industries reported depreciation expense of $785,000 on its income statement…
A: Net capital spending for the year will be total purchase cost of assets purchased minus Sale /…
Q: Q- if Russell's annual earnings are $47500, what is his semi-monthly pay, rounded to the nearest…
A: Cash Flows: Cash flows are the cash generated from the operation of the business organization. In…
Q: nvestment weight of each stoc
A: An investment portfolio refers to the various financial investments such as stocks, bonds, cash,…
Q: What is the electronic fund's transfer (EFT) system?
A: Todays generation is introduced to digital payments and any business whether it be large or small…
Q: Calculate how much will Sonja have in a savings account 12 years from now if she deposits RM 3,000…
A: The future value at the end of 12 years is the sum of future values of deposits made at year 0 and…
Q: A college scholarship fund received a gift of $ 156,469.08. The money is invested in CDs, bonds, and…
A: Gift received from scholarship is $156,469.08 Simple Interest rate in CDs is 4.25% Simple Interest…
Q: money call option on a given stock must cost more than an at-the-money put option on that stock with…
A: The buyer is given the right, but not the responsibility, to purchase the underlying asset by a…
Q: What is the average annualized forward premium/discount for the JPY if you use the 2M forward…
A: Working Note #1 Calculation of mid spot rate: Mid spot rate= 121.112 + 121.2332=242.345 /2 =…
Q: Schools across Ghana were closed for some time. This was to curb the spread of the fast-spreading…
A: Outbreak of the coronavirus caused liquidity problems for several business and nonprofit entities.…
Q: A firm whose cost of capital is 10% is considering two mutually exclusive projects X and Y, the…
A: NPV refers to Net Present Value.It is calculated by subtracting the present value of cash inflows…
Q: PLEASE SKIP IF YOU ALREADY ANSWERED. I WILL UPVOTE
A: The question is related to Ratio Analysis. 1. Current Ratio is calculated by dividing Current Assets…
Q: Machine X Machine Y First Cost, S 20,000 14,000 Year 1 AOC, S Year 2 AOC, S 5,000 Year 3 AOC, $…
A: In this problem we need to find present value of machine and hence find annual equivalent worth of…
Q: financial manager wants to invest $50,000 for a client by putting some of the money in a low-risk…
A: Interest on investment depends on the prevailing interest rate and period of deposit done and weight…
Q: Breakdown Approach Salesforce size = Forecasted sales / Average sales per salesperson Sleepy, Inc, a…
A: Sales force size refers to the number of persons required to make forecasted sales annually. It is…
Q: O Diversification; high equity returns
A: Financial intermediaries are the persons or institutions working as a third party between lender…
Q: When Mary had 5 years left in college, she took out a student loan for $17,512. The loan has an…
A: Here, Loan amount = $17,512 Interest rate = 2.7% To Find: Part A. Monthly payments if the loan is…
Q: 6.6 Consider the accompanying cash flow diagram. Compute the equivalent annual worth at i = 10%.…
A: To find the Equivalent annual worth (EAW), we need to first find the Net present value. Tabulate…
Step by step
Solved in 3 steps with 6 images
- Find the monthly payment for the loan indicated. yo purchase a home, a family borrowed $97,000 at an annual interest rate of 6.3% for 20 years. $____Wilfredo bought a new boat for $18,300. He paid $1,000 for the down payment and financed the rest for 4-years at an annual interest rate of 10%. Use the table to find the monthly payment for the amortized loan. Find the total interest paid on the loan. LOADING... Click the icon to view a table of monthly payments on a $1,000 loan. Question content area bottom Part 1 The monthly payments for this loan are $enter your response here. (Round to the nearest cent as needed.) Part 2 The total interest he paid on this loan is $enter your response here. (Round to the nearest cent as needed.)Jen Logan bought a home in lowa for $110,000. She put down 20% and obtained a mortgage for 30 years at 51%. What are Jen's monthly payment and total interest cost of the loan? (Use Table 15.1.) Note: Round the intermediate calculation and final answers to the nearest cent. Monthly payment Total interest cost
- please answer with correct calculations and explanations. QUESTION: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed with a year mortgage at 8% and 4 discount points. Kari made a deposit of $30,000 (applied to the doen payment) when the sales contract was signed. Kari also has three expenses: credit report, $70; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $200; and attorney's fees, $500. Find the closing costs (in $).Shirley Trembley bought a house for $185,300. She put 20% down and obtains a simple interest amortized loan for the rest at 6 3 8 % for thirty years. (Round your answers to the nearest cent.) (a) Find her monthly payment.$ (b) Find the total interest.$ (c) Prepare an amortization schedule for the first two months of the loan. PaymentNumber PrincipalPortion InterestPortion TotalPayment Balance 0 $ 1 $ $ $ $ 2 $ $ $ $ (d) Most lenders will approve a home loan only if the total of all the borrower's monthly payments, including the home loan payment, is no more than 38% of the borrower's monthly income. How much must Shirley make to qualify for the loan?$ per monthSamuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the debt in 3 annual installments at the end of each year, which would include interest at 14%. Draw a time line for the problem. Indicate what table to use. Look up the table value and place it in a brief formula. Solve.
- Diane is deciding between two personal loans. For each loan, the loan amount is $7500. Use the ALEKS loan calculator for the following. Also use the regular ALEKS calculator, as necessary. Write your answers to the nearest cent. ALEKS Loan Calculator Loan amount: $ Loan term: Interest rate: Calculate years % Monthly payment: (a) For Loan A, the interest rate is 6.15% per year and the loan term is 7 years. Find the total amount to repay Loan A. S (b) For Loan B, the interest rate is 6.15% per year and the loan term is 5 years. Find the total amount to repay Loan B. (c) For which loan would she pay less, and by how much? Loan A The total amount paid is $ less. Loan B The total amount paid is $less. X ĽAnswer the given problem. Problem: Mrs Talla obtained a loan of P200,000. She has to repay the loan by equal payments at the end of every six months for 5 years at 2% interest compounded semi-annually. Find the periodic payment. (Prepare an amortization schedule) The given picture is only a sample of amortization schedule please refer to it. Thank you.Mr. and Mrs. Smith have just purchased a $600,000 house and have made a down payment of$120,000. They can amortize the balance at 4% for 30 years. Using Excel, populate the following amortization table: payment number 1, 60,180,240,300,360 monthly payment principle interest amount paid on loan
- Jim and Joan Miller are borrowing $120,000 at 6.5% per annum compounded monthly for 30 years to purchase a home. Their monthly payment is determined to be $758.48. You need to present Jim and Joan with a report detailing the following: A recursive formula for their balance after each monthly payment has been made. A determination of Jim and Joan's balance after the first payment. Use a spreadsheet or graphing utility to create a table showing their balance after each monthly payment. Determine when the balance will be below $75,000. Determine when the balance will be paid off. Determine the interest expense when the loan is paid.O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and interest for a... When Laura bought her house, she got her mortgage through a bank. The mortgage was a personal, amortized loan for $99,500, at an interest rate of 3.75%, with monthly payments for a term of 40 years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Laura's monthly payment. (b) If Laura pays the monthly payment each month for the full term, find her total amount to repay the loan. $0 (c) If Laura pays the monthly payment each month for the full term, find the total amount of interest she will pay. $0 X Monthly Payment Formula M= P r 12 r 1- ( 1 + 12 ) - 12tenny takes out a new car loan for $41,000 at 5% annual interest rate for 5 years. a. What is Jenny’s monthly payment? Two years later, Jenny has already made 24 monthly payments (of amount calculated in a.) and has 36 remaining payments. What is the remaining principal on the loan? Solve using two methods. b. Solve by calculating the Present Worth of the remaining 36 payments. c. Solve using Excel Spreadsheet function CUMPRINC as discussed on page 165 of text. (note: you should get same answer on b. and c.)