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Author Question: You borrowed $10,000 over a five year term. The payments are structured as an amortized loan with ... (Read 40 times)

soccerdreamer_17

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on: Apr 25, 2021

Question 1

You borrow $42,500 over a nine year term. Your bank charges an annual rate of 10%. If the loan is repayable in equal end-of-period, annual payments, then what is the loan payment?
◦ $7,379.72
◦ $7,966.37
◦ $6,916.68
◦ $6,641.75
◦ $8,117.70

Question 2

You borrowed $10,000 over a five year term. The payments are structured as an amortized loan with annual end-of-year payments. The interest rate on the loan is 6%. The annual payments are $2,373.96. How much of the second payment is a repayment of principal?
◦ $1,774.00
◦ $1,785.12
◦ $1,810.44
◦ $1,852.81
◦ $1,880.40
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Marked as best answer by soccerdreamer_17 on Apr 25, 2021

bassamabas

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Reply #1 on: Apr 25, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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soccerdreamer_17

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Reply 2 on: Apr 25, 2021
Great answer, keep it coming :)

JaynaD87

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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