How much total interest is paid over the life of the loan

Reference no: EM131419400

Amortization with Equal Payments Prepare an amortization schedule for a three-year loan of $69,000. The interest rate is 9 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan?

Reference no: EM131419400

Questions Cloud

Is given a good way to take a sample : Suppose that you ask a few of your friends who are in their fourth year whether or not they think that including statistics in the core curriculum is a good idea. Is this a good way to take a sample? Explain why or why not.

Separation anxiety- church and state in america : Aa brief summary of podcast and its main points; and (2) your personal response to the podcast (i.e. what did you learn or think about the podcast). This paper must be a minimum of 500 words for you to get the full points for the assignment.

Is given a good way to take a sample : Suppose that you ask all math majors in their fourth year whether or not they think that including statistics in the core curriculum is a good idea. Is this a good way to take a sample? Explain why or why not.

What will your monthly lease payments be : Pings wants the PV of the lease payments to equal $3,500. Suppose that your fi rst payment is due immediately. What will your monthly lease payments be?

How much total interest is paid over the life of the loan : How much interest is paid in the third year? How much total interest is paid over the life of the loan?

Changing the population would change the kind of conclusion : Do you think that changing the population would change the kind of conclusion that we could draw? Explain your answer.

What is the present value of the payment : Which has the highest present value, the ordinary annuity or the annuity due? Which has the highest future value? Will this always be true?

Discuss about the collaborations and partnerships : For your health promotion program, you have decided to establish a community coalition to address continuing needs and issues relating to your specific health issue. Develop and name your coalition and identify who in the community, other than hea..

Record number of times that a 3 is selected in the sample : Use the Simple Random Sample applet to select a sample of 2 items from a population that contains the numbers 1, 2, 3, and 4. Repeat the process 20 times and record the number of times that a 3 is selected in the sample.

User Account

All Pages