Part b. please solve it asap. Tq. QUESTION 3a) Faizal purchased an electric motorcycle at RM8,500 through an instalment payment.The purchase was made by a down payment of RM1,500 and monthly instalments for 5years. If the interest charged is 4% on reducing balance, find:i) the monthly payment of the electric motorcycle.ii) the outstanding balance if Faizal decides to settle the loan immediately after the 24thpayment by using Rule of 78.b) Herman bought a terrace house at RM650,000. He paid a 10% down payment and thebalance was financed by taking a loan for 25 years. The interest charged was 5%compounded monthly.i)Find the monthly payment and interest charged.ii)If the loan is settled 5 years earlier than the actual period through a single payment,find this single payment.

Calculate the present value of the loan taken by multiplying the purchase value which is RM650,000…

b) Herman bought a terrace house at RM650,000. He paid a 10% down payment and the balance was financed by taking a loan for 25 years. The interest charged was 5% compounded monthly. i) Find the monthly payment and interest charged. ii) If the loan is settled 5 years earlier than the actual period through a single payment, find this single payment.

b) Herman bought a terrace house at RM650,000. He paid a 10% down payment and the balance was financed by taking a loan for 25 years. The interest charged was 5% compounded monthly. i) Find the monthly payment and interest charged. ii) If the loan is settled 5 years earlier than the actual period through a single payment, find this single payment.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Gary purchased a house and obtained a 30 - year loan of $250,000 at an annual interest rate of 6.75% A. What is the mortgage payment? B. After making payments for 12 years, Gary decides to sell his home. What is the loan payoff? A=PMT(1-(1+r/n)^-U / r/n)
Curtis buys a piece of commercial property for $230,000. He is offered a 20-year loan by the bank, at an interest rate of 9% per year. The loan requires annual payments to be made. What is the annual loan paymen Curtis must make assuming the first payment will be due one year from the date of purchase? O A. $40,313.10 O B. $30,234.83 O C. $35,273.97 O D. $25,195.69 O Time Remaining: 00:29:43 Next dtv 11 DD F11 F9 F10 F8 F7 F5 esc F4 F2 F3 F1 & @ 2# $ % 8 1 3. 4 { P < CO
B. Art purchase a house and lot worth ₱1,410,000, he made a down payment of ₱150, 000 and the remaining is through bank loan. He was approved for a 20-year mortgage with a rate of 5%. Determine the monthly payment of Art.
Johan wants to buy a car on hire purchase for N$49000 at the rate of 12% p.a. repayable using monthly installments for a period of 3 years and 4 months. (No deposit was required).(a) Total amount of money expected to be paid to the Hire Purchase Company over the years. b) Monthly installment to be paid by George. Bank 1 offered him a loan repayable at a certain monthly instalment for the same period of time as the car hire company at the rate same rate of 12% p.a. whereas Bank B offered to reduce the rate of by 1.5% p.a.(c) Total amount of money expected to be received by Bank 1. d) Monthly installment to be paid by George to Bank 1.
Louie borrowed $2,000 from Phil. Under this agreement, Louie would repay with $1,300 at t = 1 and $1,700 at t = 4 where time is given in years. Louie successfully made the payment in full at t = 1, but he faced some financial difficulty and was only able to pay 60% of what he owed at the time of the second payment. a. What was the annual interest rate (as a percent) for the original loan? b. What is Phil's annual yield (as a percent) for this four-year period?
Johan wants to buy a car on hire purchase for N$49000 at the rate of 12% p.a. repayable using monthly installments for a period of 3 years and 4 months. (No deposit was required).(a) Total amount of money expected to be paid to the Hire Purchase Company over the years. b) Monthly installment to be paid by George.
please answer with correct calculations and explanations. QUESTION: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed with a year mortgage at 8% and 4 discount points. Kari made a deposit of $30,000 (applied to the doen payment) when the sales contract was signed. Kari also has three expenses: credit report, $70; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $200; and attorney's fees, $500. Find the closing costs (in $).
6. Mahmoud has to pay three equal payments of $50,000 for a house he is buying, The payments are at the end of year five, 10 and 15, respectively. If the interest rate is 14% how much would he take as a loan to pay for the house? b. а. If Mahmoud decides to pay the remaining balance after paying the second installment in year 10 immediately, how much would he pay at the end of year 10 as repayment for the unpaid balance?
c) Chempaka bought an apartment by making a down payment of RM33,500 and had to settled monthly payments of RM1,467.50 for 336 months. If the interest charged was 3.85% compounded monthly, find i) the cash price of the apartment. ii) the outstanding balance if she decided to settle the loan immediately after 20 years.
Ellery purchases a home with a loan of R149 000. The 30-year loan term and 7,5% interest rate apply to the home loan. Every month, payments are made. How much interest will he pay overall if he purchases the house in accordance with the terms of the loan? a. b. C. d. R226 059 R138 086 R486 160 R375 489
Question # 3: David is buying a house for $256,000. To obtain the mortgage, David is required to make a 20% down payment. David obtains a 30-year mortgage with an interest rate of 6.15%. a.) Determine the amount of the required down payment. b.) Determine the amount of the mortgage (loan amount). c.) Determine the monthly payment. d.) Determine the total amount of interest paid on this mortgage.
Henry Fuller has agreed to purchase a used automobile for $13,500. He wishes to limit his monthly payment to $350 for a period of 2 years. What down payment must he make to complete the purchase if the interest rate on the loan will be 6%?

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