Statistics and Probability

I Flnd the lump sum deposited today that wlll yield the same total amount as payments of $17,000 at the and of each year for 15 years. at an Interest rate at 6% compounded annually. (at the payment necessary to amortize the loan (h) the total payments and the tolal amount of interest paid based on the calculated quarterly payments to) the total payments and total amount of interest paid based upon an amortization table. 2 Consider a loan of $2200 at 5% compounded quarterly. with 6 quarterly payments. Find the following. (a) the payment necessary to amortize the loan to) the total payments and the total amount of interest paid based on the calculated annual payments (1:) the total payments and total amount of interest paid based upon an amortization table. 3 Consider a loan of 59?.000 at 6% compounded annually. with 12 annual payments. Find the following. a Use the amortization table to determine how much interest is paid in the rst 4 months of the loan. Amortization Table Q Payment Amount of Internet Portion ID Pritcipel at Number Payment for Period Pttncipel End of Period 0 - $3500.00 1 $301.23 $17.50 $283.73 $3216.27 2 $301.23 516.08 $285.15 $2931.12 3 5301.23 $14.66 $286.57 $2544.55 4 $301.23 $13.22 $283.01 $2355.54 5 5301.23 $11.78 $289.45 $2067.09 6 $301.23 $10.34 $290.89 $1776.20 7 $301.23 $8.33 $292.35 $1483.85 8 $301.23 $7.42 $293.81 $1190.04 9 $301.23 $5.95 $295.20 $894.76 10 $301.23 $4.47 $296.76 $598.00 11 $301.23 52.99 $298.24 $299.76 12 $301.26 $1.50 $299.76 $11.00 Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid. $196,000 at 7.01% for 20 years years. He pays 4.8% interest. compounded monthly. What is the amount of each payment? Find the total Fritz buys a car costing 511.300. He agrees to make payments at the end 01 each monthly period for 8 amount of interest Fritz will pay. A student borrows 567.300 at 10.8% compounded monthly. Find the monthly payment and totai interest paid over a 20-year payment plan