Solved: What is the principal balance on the loan, Finance Basics

+44 141 628 6080
[email protected]

What is the principal balance on the loan

Question 1: Loan Payments. If you take out an $8,000 car loan that calls for 48 monthly payments at an APR of 10 percent, what is your monthly payment? What is the effective annual interest rate on the loan? (Use the excel PMT function)

Question 2: Amortizing Loan. You take out a 30-year $100,000 mortgage loan with an APR of 6 percent and monthly payments. In 12 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan?

View Complete Question

Solution Preview :

Prepared by a verified Expert

Finance Basics: What is the principal balance on the loan

Reference No:- TGS02080532

Now Priced at $20 (50% Discount)

Recommended (90%)

Rated (4.3/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Finance Basics

Q : What is the expected rate of return on the stock

If the stock currently sells for $30 per share, what is the expected rate of return on the stock?

Q : Researching career options within the field of finance

Describe two financial career options that an individual with a finance education might pursue and explain the value that such a position adds to a company.

Q : How a government be tempted to take benefit it cannot afford

How can a government be tempted to take a benefit it cannot afford? What sounds better, $250,000 of increased services or $187,500 less in expenditures?

Q : Describe and define internal and external analysis

Describe and define internal and external analysis. Describe and define the responsibilities and duties of the Strategic Manager.

Q : What is the principal balance on the loan

In 12 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan?

Q : Determine the projected net income

Determine the projected net income using the above information. Assume the property will be open 365 days a year.

Q : Determine the bonds price today

The par value of the bonds is #1,000. The yield to maturity is 7 percent. a. What is the bonds price today?

Q : What is the stock price for given discount rate for stock

Q1. What is the stock price if the discount rate for the stock is 10 percent? Q2. What is the dividend yield?

Q : Describe the mission statement of the chosen organization

Describe the mission statement of the chosen organization. Analyze at least two fundamental problems in the chosen organization.

1950417

Questions
Asked

3,689

Active Tutors

1420508

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Discuss patient with athsma about use of bronchodilators

You're instructing a patient with athsma about the use of bronchodilators. You should teach the patient which one?

Discuss new forms of advertising changing opdps work

How have social media and other new forms of advertising changing OPDP's work?

Observing and reporting a correctional clients behavior

Observing and reporting a correctional client's behavior is extremely important, to ensure they receive the right mental health care.

Discussion about improve patient satisfaction scores

You are trying to improve patient satisfaction scores in your hospital's emergency department. You decide to poll 40 patients a day for three weeks.

Problem concerning about the risk for stroke

Sam is concerned about his risk for his stroke since his dad died of stroke at age 57 based on the following information why would you recommend

Patient presented with acute-onset abdominal pain

You are on your 5th straight duty in the Urgent Care and you are seeing a 18 yo may who presented with acute-onset abdominal pain for 2 days.

Discuss - male with a history of moderate persistent asthma

A nurse is caring for an 8-year-old male with a history of moderate persistent asthma. He is accompanied by his mom and dad who reported