Post a problem.
Hi everyone!
so here is the exercice, it's about loans:
What is the principal repaid in the last monthly payment on a 150000 euros loan, contracted over 8 years at 4.30 % APR (monthly equal payments) ?
A student borrows 36000 euros to her bank for 3 years at 5.90 % (APR). She shall repay by equal monthly payments. What is the value of the monthly payment ?
A company contracts a loan of 250 000 euros, over 6 years, at a rate of 6%, amortization by equal payments.
What is the amount of principal repaid the 3rd year ? euros
What it the initial amount of a 6 years loan, to be repaid by monthly equal payments of 234.50 euros ? The interest rate is 8.05 % APR.
What it the initial amount of a 5 years loan, to be repaid by monthly equal payments of 429.08 euros ? The interest rate is 7.80 % APR.
You borrowed 12000 euros on 6 years to buy a new car. You repay by monthly equal payments, and the rate is 5.05 % APR. What is the unpaid balance after 2 year?
There are standard formulas applicable to your posted problems.
For instance, to calculate loan payment:
Loan Payment Formula
Are you aware of these formulas?
We don't do homework, or teach here: no classroom!
Where are your problems from: math class, with a teacher?
Can you do a simple problem, like:
if 300 is deposited monthly for 1 year in an account paying 1% per month,
what will be the account balance at end of 12th month?