Compute amount you must pay for the remainder of loan

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Reference no: EM131897611

d) "To purchase a new car, you borrow $29,000 for 7 years at the rate of interest of 13.9% APR compounded monthly, and you make monthly car payments. How much interest do you pay on the 9th payment?"

e) "Suzan is considering buying a home for $379,000. If she makes a down payment of $72,000 and takes out a mortgage on the rest of the money at 6.92% compounded monthly for 8 years. What will be the principal payment for her 56th payment? (Assume she makes monthly payments)"

f) "You receive a loan for $11,931 where the APR is 7.6%, compounded monthly. You make a payment of $931.83 on this loan every 6 months (i.e., 2 payments per year), which will enable you pay off the loan in eactly 9 years. Immediately after making your regular payment at the end of 5 years, you desire to pay the remainder of the loan in a single payment. Compute the amount you must pay for the remainder of the loan."

Reference no: EM131897611

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Compute amount you must pay for the remainder of loan : You receive a loan for $11,931 where the APR is 7.6%, Compute the amount you must pay for the remainder of the loan."

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