AB PC Supplies obtains a P5M bank loan at 8% interest compounded semi-annually. The company repays the loan by paying P400, 000 every 6 months. What is the outstanding principal after the 10th payment?
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Instructions: Solve the following problems using the formula above. AB PC Supplies obtains a P5M bank loan at 8% interest compounded semi-annually. The company repays the loan by paying P400, 000 every 6 months. What is the outstanding principal after the 10th payment?A bank offers a loan that will require you to pay 9% per annum with semi-annual compounding. Which of the following is the closest to the effective annual rate charged by the bank?
- Data Back-Up Systems has obtained a $10,000, 90-day bank loan at an annual interest rate of 15%, payable at maturity. (Note: Assume a 365-day year.) 1.How much interest (in dollars) will the firm pay on the 90-day loan? Format: 111.11 2.Find the 90-day rate on the loan. Format: 1.11% 3.Annualize your result in part b to find the effective annual rate for this loan, assuming that it is rolled over every 90 days throughout the year under the same terms and circumstances. Format: 11.11%Bank JPX is offering personal loans of $35,000 to be repaid over 6 years with payments of $625 per month. The first loan payment occurs one month after borrowing the $35,000. What effective annual rate (EAR) are they charging on this loan?Data Back-Up Systems has obtained a $29,000, 90-day bank loan at an annual interest rate of 15%, payable at maturity. (Note: Assume a 365-day year.) a. How much interest (in dollars) will the firm pay on the 90-day loan? b. Find the 90-day rate on the loan. c. Annualize your result in part b to find the effective annual rate for this loan, assuming that it is rolled over every 90 days throughout the year under the same terms and circumstances. Answers a. The amount of interest on the loan is $___. (Round to the nearest cent.) b. The effective 90-day rate is___%. (Round to two decimal places.) c. The effective annual rate is___%. (Round to two decimal places.)
- A bank is offering a loan of $20,000 with an interest rate of 9%, payable with monthly payments over a 4-year period. a. Calculate the monthly payment required to repay the loan. b. This bank also charges a loan fee of 4% of the amount of the loan, payable at the time of the closing of the loan (that is, at the time the borrower receives the money). What effective interest rate is the bank charging?July 1, Bee Company will need a fixed interest rate loan of P1,200,000 for 6 months starting on October 1. The bank quotes an FRA rate of 8% for the loan. If the actual rate on October 1 is 10%, how much interest in pesos, should Bee pay the bank (actual cash outflow)?Your company are offered a bank loan with an annual percentage ate (APR) of 5 percent with quarterly compounding. What is the effective annual rate (EAR) on this loan? (Answers are rounded to two decimals) a) 5.00 % b) 21.55 % c) 5.09 % d) 1.25 % e) 105.09 %
- Please answer with details on how to do it. Thank you. A company borrows $ 100,000 today at 6 % nominal annual interest compounded monthly. Find the monthly payment Amount, if the loan has to be paid in 6 years.Suppose a bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $350.00 at the end of each quarter and then pay off the principal amount at the end of the year. What is the effective annual rate on the loan? 14.75% 13.28% 12.39% 11.21% 15.34%SportZ has negotiated a loan of $25 000 with interest at 7.6% per annum, to be paid as month-end payments of $2200.00 over the next year. Construct a loan amortization schedule to answer the following questions. i. How much interest is paid over the first two months? ii. How much of the principal is paid by the end of the first two months? iti. How much interest is paid over the term of the loan? iv. What is the amount of the final payment?]
