ACFI2070 Individual Assignment-1

Your bank offers to lend you $120, 000 at an 8.25% annual interest rate to start your new business. The terms require you to amortize the loan with 10 equal end-of-year payments. How much interest would you be paying in Year 2? a. $5,904.06. b. $8,487.08 0 c. $6,642.06• d. $7,011.07. e. $9224.68

Suppose you borrowed $14,000 at a rate of 9.7% and must repay it in 5 equal installments at the end of each of the next 5 years. How much interest would you have to pay in the first year? Group of answer choices $1,428.12 $1,303.32 $1,211.50 $1,158.33 $1,358.00

If you borrow $2,700 at 8% simple interest per year for five years how much will you have to repay at the end of five years? Choose the correct answer below. O A. $1,267 O B. $3,780. O C. $1,080 O D. $2,700 O E. $3,967

Suppose that you borrow$ 12000 at interest rate of 5% per year. If you must be repaid the loan in equal end of year payments over the next 4 years, how much must you repay at the end of each year? O a. $3672 Ob. $3384 Oc. $2672 O d. $2384

**A KSU graduate plans to start a consulting firm now by borrowing $75,000 at a compound interest rate of 5% per year. The loan payment each year to pay off the loan in 10 years is equal to: Assume that the loan repayment starts in year 1 and continues every year until year 10. (All the alternatives presented below were calculated using compound interest factor tables including all decimal places) $6,018 $12,206 $7,500 $9,713

Assume you borrowed $20,000 and the terms of the loan include paying 4% interest for a period of 10 years. You plan to make annual payments. After you've made the second payment, how much principal have you paid? (Hint, first find the payment on the loan.) O $2,466 O $1,732 O $733 O $16,002

Find the total amount that must be repaid on the following note described. $8,593 borrowed at 18.5% simple interest What is the total amount to be repaid 3 years, 125 days later? (Round your answer to the nearest cent.) $ 13906.53 Need Help? Read It

Question 1 You borrow 1000 from a friend at a simple interest rate of 6% for 4 years. Calculate the amount of interest incurred in that time period. Round your answer to the nearest dollar. Your Answer: Answer Question 2 If you borrow $1350 from a bank account today that charges 5% nominal interest per year, how much money do you owe 8 years from now if the interest is compounded monthly? Round your answer to the nearest dollar. Your Answer: Answer Question 3 You borrow $200 from a bank that charges 4% nominal interest for 14 years. If the bank uses daily compounding, calculate the effective interest rate. Write your answer in terms of percentage and round to two decimal places; example 7.42 Your Answer:

Part a. Loan payments you borrow $100,000 over a period of 30 years at a fixed APR of 5.5% calculate the monthly payment Part b. Determine the total amount paid, then figure out what percentage is paid towards the principal and what percentage is paid for interest. Please solve part A and B they go together. I included an example problem

Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. by how much would you reduce the amount you owe at the end of the first year? (in other words, how much of the principal anount of the loan have you paid off) A. $2,404.91B $2,531.49C. $2,930.51D. $2,790.96E. $2,658.06

Problem #2: You have taken a loan of $244,000. You can afford to pay monthly payments of $1921.13. This loan will be repaid in 20 years. Problem #2: What is the nominal annual rate of interest charged on this loan? Answer as a percentage, correct to 2 decimals

You have borrowed $20,000 from a bank for a five-year period. You will be making monthly payments on this loan and the interest rate on the loan is 12% per annum with interest compounded monthly.  The effective annual interest rate on this loan is closest to: Group of answer choices A. 1.0% p.a. B. 12.0% p.a. C. 12.4% p.a. D. 12.7% p.a.

Question.2 A person borrows 200,000 TL loan from a bank to be paid in 30 years with 30 equal amounts, first payment starting at the end of first year. a) Determine the amount of equal payments if the bank charges 3% per year as interest. b) At the end of 12th year after making the payment, the bank changes interest rate to be 5% per year. Determine the equal amounts the borrower has to be pay starting with the first payment at the end of 13th year.

You are borrowing $300,000 for 20 years at 4%. Payments will be made monthly. What is the total amount of interest you will pay if you pay the loan as agreed over the 20 years? a. $114,786 b. $124,340 c. $136,306 d. $164,120 e. $196,342

Q5. Suppose you borrow $10,000. You are going to repay the loan by making equal annual payments for five years. The interest rate on the loan is 15 percent per year. Prepare an amortization schedule for the loan. How much interest will you pay over the life of the loan? Beginning Total Principal Ending Year Interest balance payment раyment раyment balance 1 $10,000 2 3 2,983.16 4 5 0.00

How much is the loan amount if you need to borrow $350,000 for one year with 9% single payment interest and a 15% compensating balance. * O 326086.96 O 315000 O 3750000 O 411764.71 O 24000

You lend a friend $50,000. Your friend will repay you in 6 equal annual end-of-year payments of $12,000. You will receive the first payme one year from now. What rate of return does your loan earn? 14.86% 12.50% 11.53% 6.00%

To pay for your​ education, you've taken out ​$24 comma 00024,000 in student loans. If you make monthly payments over 1212 years at 66 percent compounded​ monthly, how much are your monthly student loan​ payments?         Question content area bottom Part 1 Your monthly student loan payments are ​$enter your response here. ​(Round to the nearest​ cent.)

Suppose you get a student loan for $8,000, and your payments are deferred until after you graduate, 2 years from now. Then, you will make 15 yearly payments (starting 2 years from now). What are your payments? The interest rate is 8%/year. a. $845 b. $ 934 c. $ 976 d. $1,009

Assume you borrow $10,000 today and promise to repay the loan in two payments, one in year 2 and the other in year 4, with the one in year 4 being only half as large as the one in year 2. At an interest rate of 10% per year, the size of the payment in year 4 is closest to: (a) $4280 (b) $3975 (c) $3850 (d) $3690

If you borrow $5,400 at a simple interest of 5% per year, how much will be repayed after 6 years? a. $7,020 b. $5,670 c. $7,237 d. $1,620 e. $1,837 Clear my choice

If someone borrow $4000 with interest rate 4% and has to return the loan with equal payment in 4 years. The amount of the annual payment is: Select one: а. $1169.85 b. $1400 c. $1313.9 d. $1240

et's calculate how much you borrowed to buy your classic Ford Bronco assuming you made payments of $6000.00 at the end of every six months for twelve years. If interest on the loan is 8% compounded quarterly, what was the principal of the loan? Question 10 options: $23 433.19 $201 323.86 $91 108.28 $19 108.28

9. I wish to borrow $400,000 to buy a house. If the current interest rate on the loan is 4.8% per annum, then my monthly repayment at the end of every month for the next 30 years is: Select one: a. $2,908.66 b. $2,098.66 c. $2,090.30 d. $1,111.11

Your bank offers to lend you $120,000 at an 6.5% annual interest rate to start your new business. The terms require you to amortize the loan with 10 equal end-of- year payments. How much interest would you be paying in Year 2? $16,692.56 O $19,068.53 O $10,428.81 O $18,161.67 O $17,254.82

How would be the principal amount of loan if you need to borrow $300,000 for one year with a discount loan of 8%? * O 3750000 O 411764.7 O 375000 O 24000 O 326086.96

You borrowed $10,000 from a bank to invest in IT & Mobile technology with payback the loan in graduated payment plan. If your first payment is $1,000 at the end of first year and i=10% over 5 years. Note: (P/G, 10%, 5) = 6.86 Q/Find the total earned interest by the bank at the end of period?

1  Borrow $178,000 at 5.25% for 30 years 2  Borrow $178,000 at 4.00% for 15 years What are the 2 payments?  How much interest is paid out under each loan?  How much is saved with the 15 year note?  And, where does the saved interest end up?