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- Use the add-on method of calculating interest to find the total interest and the monthly payment. Amount of Loan Length of Loan Interest Rate 3.5% $1050 18 months The total interest is $ (Type an integer or decimal rounded to the nearest cent as needed.) The monthly payment is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to the nearest cent as needed.) 80 Q C F5 MacBook Air C F6 F7 DII F8 8 F9 J F10 F11 Next F12Analyze below Cash Flow and compute for the unknown value. 1 2 3 $5 $5 $5 4 $10 Answer: ieff = Blank 1: show in four decimal X = $ Blank 2 Y = $ Blank 3 Z = $ Blank 4 5 $10 N 6 $20 7 $25 8 $30 9 $35 EOM (end of month payment) i=10% compounded semi-annually $40QUESTION 4 You will deposit 18,285 at 10% simple interest rate for 6 years, and then move the amount you would receive to an investmen. account at 12 % compound rate for another 3 years. How much money would you have at the end of the entire period ?
- Calculate the future value for the following 3 problems Present Value Interest Rate Time (Years) Compounding $6,000 3% 8. Semiannually $8,900 6% 4 Monthly $17,600 12% Quarterly Calculate the present value for the following Future Value = $25,000 Interest = 5% Time = 10 years %3DYou purchase a car today using a loan of $19000 APR 6%. If your plan is to pay during 5 years with equal monthly payments: Instructions: • Use 4 digits in your calculations and reporting the answers. • Do not write commas or apostrophes. • Do not write $ (dollar sign) or any other symbol, just write the number. a) How much do you need to pay each month? (estimate each month 30 days) has USD per month b) How much did you really pay after the 5 years considering all monthly payments? USDYou want to buy a $50,000 car. You can finance the car for 0.9% interest for 5 years. You decide to pay $1000 per month toward the loan, paying slightly over your payment amount. How many months will it take to pay off your loan? Assume monthly compounding. Round to zero decimal places (since you only make 1 payment per month).
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- Please help with below homework. Q-7) A couple has taken a 30 year $350, 000 mortgage at 3.0% per year compounded monthly. 1.Compute their monthly payment. 2.Compute the amount of interest and principal paid with their 260th monthly payment. 3. Re-compute their monthly payment, if they agree to make a lump sum payment of $100,000 at the end of the mortgage period. Kindly Draw Cash Flow Diagram and explain it.SITUATION 8 A man borrowed an amount of P150,600 to bank that offers an interest rate of 5.36% compounded continuously and has a maturity date of 6 years. He plans to pay the loan at an amount of P15,800 at the end of 2 years, and P10,450 at the end of 3 years. 1. How much must he pay at the end of 6 years? 2. If instead of paying an amount at the end of 2nd and 3rd year, he decided to pay by a single lump sum all the amount including the future liabilities at the end of 5 years, how much is the lump sum?Topic is ordinary annuity, fill in the blanks If you deposit $5,000 at the end of each month, then it will take you _____ months of saving $5,000 plus a concluding deposit at the end of the ______th month to accumulate $90,500 if you get 10% compounded monthly on your savings.