Question
1.A loan of 390,000 is going to be repaid by month-end repayments of 4,000 starting in one month. The interest rate is 6.7% p.a. compounded
1.A loan of 390,000 is going to be repaid by month-end repayments of 4,000 starting in one month. The interest rate is 6.7% 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. (Do not use "$" or "," in your answer. e.g. 12345.67)
2.A loan of 390,000 is going to be repaid by month-end repayments of 4,000 starting in one month. The interest rate is 6.7% p.a. compounded monthly. Calculate the loan outstanding balance at the end of year 2. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
3.A loan is to be repaid over 30 years, with month-end repayments of 6,000. If the interest rate is 5.5% p.a. compounded monthly. Calculate the principal paid for year 10. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
4.A loan is to be repaid over 30 years, with month-end repayments of 3,000. If the interest rate is 5.8% p.a. compounded monthly. Calculate the interest paid for year 10. Correct your answer to the nearest cent without any units. (Do not use "$" or "," in your answer. e.g. 12345.67)
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