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Category > Business & Finance Posted 27 Apr 2017 My Price 5.00

What will Tracy’s payments be

1. Amortization. Beth has just borrowed $5,000 on a four-year loan at 8% simple interest. Complete the amortization table below for the first five months of the loan.

2. Add-On Interest Loan. What if Beth had made the same loan as an add-on interest loan? How would her payments differ? Why is there a difference?

3. Loan Payments. Tracy is borrowing $8,000 on a six-year, 11%, add-on interest loan. What will Tracy’s payments be?

 

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Alpha Geek
(8)
Status NEW Posted 27 Apr 2017 05:04 PM My Price 5.00

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Attachments

file 1493314895-2005874_1_636287721824754186_amort.xlsx preview (40 words )
Lo-----------an -----------Amo-----------unt-----------Int-----------ere-----------st -----------rat-----------eTe-----------rm -----------4 y-----------ear-----------sNu-----------mbe-----------r o-----------f p-----------aym-----------ent-----------Day-----------s i-----------n Y-----------ear-----------sMo-----------nth-----------ly -----------int-----------ere-----------st -----------rat-----------eAm-----------ort-----------iza-----------tio-----------n s-----------che-----------dul-----------ePm-----------t N-----------o.P-----------aym-----------ent-----------Mon-----------thl-----------y p-----------aym-----------ent----------- Pr-----------inc-----------ipa-----------l B-----------ala-----------nce-----------Tot-----------al -----------Owe-----------dAn-----------swe----------- 2.-----------Add----------- on----------- mo-----------nth-----------ly -----------pay-----------men-----------tPa-----------yme-----------nt -----------dif-----------fer-----------Thi-----------s d-----------iff-----------ere-----------nce----------- be-----------cau-----------se -----------in -----------add-----------on -----------int-----------ere-----------st -----------loa-----------n a-----------mou-----------nt -----------pai-----------d o-----------n p-----------rin-----------cip-----------al -----------wil-----------l r-----------e c-----------alc-----------ula-----------te -----------on -----------equ-----------al -----------pay-----------men-----------t.A-----------nsw-----------er -----------3.T-----------rac-----------y's----------- pa-----------yme-----------nt -----------
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