A Borrower Had A Loan Of 50 000 00 At 5 Compounded Annually With 14 Annual Payments Suppose The Borrower Paid Off The 1 (11.1 KiB) Viewed 30 times
2) please answer part B and C only
A Borrower Had A Loan Of 50 000 00 At 5 Compounded Annually With 14 Annual Payments Suppose The Borrower Paid Off The 2 (22.02 KiB) Viewed 30 times
A borrower had a loan of $50,000.00 at 5% compounded annually, with 14 annual payments Suppose the borrower paid off the loan after 4 years Calculate the amount needed to pay off the loan. The amount needed to pay off this loan after 4 years is $ (Round to the nearest cent as needed)
The payment necessary to amortize a 5.8% loan of $74,000 compounded annually, with 9 annual payments is $10,785.14. The total of the payments is $97,066.26 with a total interest payment of $23,066.26. The borrower made larger payments of $11,000.00 Calculate (a) the time needed to pay off the loan, (b) the total amount of the payments, and (c) the amount of interest saved a. The time needed to pay off the loan with payments of $11,000.00 is years. (Round up to the nearest year) b. The total amount of the payments is (Round to the nearest cent as needed) V
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