A loan of $8500 is repaid by equal payments of $525 made at the end of every month.If interest is 1196 compounded semi-annually, how much will be paid out of pocket (in total) to repay the loan plus interest? Select one: a. $9450.00 b. $9225.46 C. $10,199.54 d. $8724.54 A car loan of $35,820 is amortized over 6 years by equal end-of-month payments at 2.99% compounded annually. What is the amount still owing after 3 years? Select one: a. $34,986.78 b. 518,701.10 $18.709.80 d. 534 450.50 Rebecca borrowed $20,400 from her local credit union to pay for the upgrades to her kitchen. She wants to pay the loan with monthly payments over a period of 3 years. What is the interest included in the tenth payment, if the rate charged by the credit union is 6% monthly? Select one: a. $542.42 b. $78.19 O c$349.19 d. $208.64 e. $77.66 A loan of $15,500 with interest at 7% compounded annually is amortized by payments of $1250 at the end of every month. Solve for the missing value in the amortization table below: Outstanding Payment Amount Paid Interest Pald Principal Principal Number Repaid Balance 0 $15,500.00 1 $1,250.00 $87.64 $1,162.36 $14,337.64 2 $1,250.00 $81.07 $1,168.93 $13,168.71 3 $1,250.00 $74.46 $1,175.54 $11,993.16 4 $1,250.00 $67.81 $1,182.19 $10,810.98 5 $1,250.00 $61.13 $1,188.87 $9,622.10 6 $1,250.00 $54.40 $1,195.60 $8,426.51 7 $1,250.00 $47.64 $1,202.36 $7,224.15 8 $1,250.00 $40.85 $1,209.15 $6,015.00 9 $1,250.00 $34.01 $1,215.99 $4,799.01 10 $1,250.00 $27.13 $1,222.87 $3,576.14 11 $1,250.00 ? $1,229.78 $2,346.36 12. $1,250.00 $13.27 $1,236.73 $1,109.63 13 $1,115.90 $6.27 $1,109.63 $0.00 Totals $16,115.90 $615.90 $15,500.00 Note: The values in this table were produced using the Ball Plus calculator (i.e. only the original payment was rounded to two decimal places all other numbers were not rounded). Your final answer will be marked to consider variation due to rounding if you are completing all calculations individually. Answers Tow-Mater's Towing Company owes $10,000 to be repaid by monthly payments of $235. Interest is 3% compounded monthly. What is the size of the final payment on the loan? Select one: a. $223.85 b. $11.15 C. $234.97 d. $0.03 e. $9.12 A community centre available for purchase is valued at $1,697,000. Payments are required at the end of every 3 months for 5 years. If the interest rate is 9% compounded quarterly, what is the size of the final payment? Select one: a. $106.273.12 b. $106,964 40 C$106,303.59 d. $106,303.69