Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. q1a. a loan of 391,000 is going to be repaid by mo

Q1A. A loan of 391,000 is going to be repaid by month-end repayments of 4,000...

70.2K

Verified Solution

Question

Finance

Q1A.

A loan of 391,000 is going to be repaid by month-end repayments of 4,000 starting in one month. The interest rate is 4.6% p.a. compounded monthly. Calculate the loan outstanding balance at the end of year 2. Correct your answer to the nearest cent without any units.

Q1B.

A loan is to be repaid over 30 years, with month-end repayments of 6,000. If the interest rate is 4.9% p.a. compounded monthly. Calculate the loan outstanding balance at the end of 10 years. Correct your answer to the nearest cent without any units.

Q1C.

A loan is to be repaid over 30 years, with month-end repayments of 3,000. If the interest rate is 5.1% p.a. compounded monthly. Calculate the principal paid for year 10. Correct your answer to the nearest cent without any units.

Q1D.

A loan is to be repaid over 30 years, with month-end repayments of 7,000. If the interest rate is 4.5% p.a. compounded monthly. Calculate the interest paid for year 10. Correct your answer to the nearest cent without any units.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Read the following and answer the related questions that follow it. Auric plc is a mining company,...

Accounting
Q

2)Prove, using Boolean Algebra theorems, that the complement of XOR gate is XNOR gate (Hint :...

Programming
Q

What is an equilibrium solution? I am in an Elementary Differential Equations course. The problem is...

Advance Math
Q

1 From a disc of radius R and mass M a circular hole of diameter...

Physics
Q

In the figure shown the potential energy U of a particle is plotted against its...

Physics
Q

0 2t The concentration in g ml of a drug t hours after being injected...

Basic Math
Q

Amount Desired at End Length of of Period 6 000 00 Annual Time years Rate...

Basic Math
Q

Use summation properties and formulas to rewrite and evaluate the sum 24 5k 1k 6...

Calculus
Q

12 Using the disk method determine the volume of the solid obtained by rotating the...

Calculus
Q

on september 22,2021 a flood.. complete the below table to estimate the cost of inventory...

Accounting
Q

s and bread machines. The 8. Healthier Living Company manufactures two products. toaster oven following...

Accounting
Q

Cullumber Cosmetics Co. purchased machinery on December 31, 2019, paying $ 49,200 down and agreeing...

Accounting