1. What will the annual payments be on a six-year loan of $12,500 at 13 percent...

 

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1. What will the annual payments be on a six-year loan of $12,500 at 13 percent interest rate? 2. You've just found the perfect home. However, in order to buy it, you'll need to take out a $15,000, 30-year mortgage with monthly mortgage payments at an annual interest rate of 6 percent. What will your monthly mortgage payments be? 3. Suppose you plan to get a $6,000 car loan at 15% annual interest with annual payments that you will pay off over four years. Your annual payment is $2,101.59. What will your outstanding balance be at the end of year 2? 1. What will the annual payments be on a six-year loan of $12,500 at 13 percent interest rate? 2. You've just found the perfect home. However, in order to buy it, you'll need to take out a $15,000, 30-year mortgage with monthly mortgage payments at an annual interest rate of 6 percent. What will your monthly mortgage payments be? 3. Suppose you plan to get a $6,000 car loan at 15% annual interest with annual payments that you will pay off over four years. Your annual payment is $2,101.59. What will your outstanding balance be at the end of year 2?

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To calculate the annual payments on a sixyear loan of 12500 at 13 interest rate we can use the follo... View the full answer