Mrs. Lang Chua purchased a Bike at $845,000. She paid a down payment of $50,000 and promised to pay the balance at equal payment every end of the month at 12.75% compounded monthly for 5 years. Find the monthly periodic payment and construct an amortization schedule.
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- Tamara purchased a new dishwasher from The Bay for $895.94. By placing it on her Bay credit card, she can pay off the dishwasher through a special six-month payment plan promotion that charges her 5.9% compounded monthly. Construct the complete amortization schedule for Tamara and total her interest charges. Consider that the dishwasher will be financed for 3 years.Susan would like to buy a car. She went to the bank and got a loan for $40,000 at the annual interest rate of 4%, for 4 years. Calculate the monthly payment. Calculate the interest on the payment. Calculate the total payment. Make complete amortization schedule on excelMrs. Castro bought a computer set for Php32,000.00 to be paid equal payments at the end of every three months for 1 year. If the interest is 8% compounded quarterly, construct the amortization schedule.
- Using MS Excel A couple purchased a house and lot and signed a mortgage contract with a bank for P8,000,000 to be paid in equal monthly payments over 25 years with interest at 5.25%. Find the monthly payment and construct an amortization table. (Show the first 6 payments only)Answer the given problem. Problem: Mrs Talla obtained a loan of P200,000. She has to repay the loan by equal payments at the end of every six months for 5 years at 2% interest compounded semi-annually. Find the periodic payment. (Prepare an amortization schedule) The given picture is only a sample of amortization schedule please refer to it. Thank you.Mrs. Parker bought a computer set for $32,000 to be paid in equal payments at the end of every 3 months for 1 year. If the interest is 8% compounded quarterly, construct the amortization schedule.
- Peter purchased a machine for $400,000. He paid 16% of the value as a down payment and received a loan for the balance at 7.05% compounded annually. He had to make payments of $4,443.55 at the end of every month to settle the loan. a. How many payments were made? A full solution for the number of payments should be shown. Submit your solution. o payments Round up to the next payment periodK Franklin's new snowmobile cost $13,000. After his down payment of $1,000, he financed the remainder at 6% for 10 years. Use the table to find the monthly payment for the amortized loan. Find the total interest paid on the loan. Click the icon to view a table of monthly payments on a $1,000 loan. The monthly payments for this loan are (Round to the nearest cent as needed.) The total interest he paid on this loan is $. (Round to the nearest cent as needed.) Monthly Payment on a $1,000 loan Annual Interest Rate 4% 5% 6% 8% 10% 12% Number of Years for the Loan 10 20 $22.58 $10.12 $6.06 23.03 10.61 6.60 23.49 11.10 7.16 24.41 12.13 8.36 32.27 25.36 13.22 9.65 33.21 26.33 14.35 11.01 3 $29.53 29.97 30/42 31.34 30 $4.77 5.37 6.00 7.34 8.78 10.29 - X 5 Next 10 00 t UsMr. and Mrs. Smith have just purchased a $600,000 house and have made a down payment of$120,000. They can amortize the balance at 4% for 30 years. Using Excel, populate the following amortization table: payment number 1, 60,180,240,300,360 monthly payment principle interest amount paid on loan
- Shirley Trembley bought a house for $185,300. She put 20% down and obtains a simple interest amortized loan for the rest at 6 3 8 % for thirty years. (Round your answers to the nearest cent.) (a) Find her monthly payment.$ (b) Find the total interest.$ (c) Prepare an amortization schedule for the first two months of the loan. PaymentNumber PrincipalPortion InterestPortion TotalPayment Balance 0 $ 1 $ $ $ $ 2 $ $ $ $ (d) Most lenders will approve a home loan only if the total of all the borrower's monthly payments, including the home loan payment, is no more than 38% of the borrower's monthly income. How much must Shirley make to qualify for the loan?$ per monthBetty Price purchased a new home for $265,000 with a 20% down payment and the remainder amortized over a 15 year period at 9% interest. (a) What amount (in $) did Betty finance? $ (b) What equal monthly payments (in $) are required to amortize this loan over 15 years? (Round your answer to the nearest cent.) $ (c) What equal monthly payments (in $) are required if Betty decides to take a 20 year loan rather than a 15 year loan? (Round your answer to the nearest cent.) $Chiara purchased a new natural qas barbecue for $2,200 and made a down payment that was 30% of the purchase price. She financed the remaining balance for 9 months at an annual interest rate of 5.5% compounded monthly. What is Chiara's monthly payment? (Round your answer to the nearest cent.)