What is the monthly payments on the loan

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Reference no: EM132012645

Question: You have the following information regarding a loan. Loan amount is $80,000. The interest rate is 12% interest only on an annual basis. This loan is scheduled to last 5 years. Assume monthly payments

1. What is the monthly payments on this loan?

2. What is the loan balance at the end of 5 years?

3. What is the yield to the Leander if all scheduled payments are made on time? 4. What is the cost to the borrower if all scheduled payments are made on time?

Reference no: EM132012645

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