math

posted by .

You are borrowing $90,000.00 at an annual rate of 5% for 20 years .
What is the total amount you will pay ?

  • math -

    Are you paying off the loan in 20 years? In equal amounts? Are the payments monthly? If so, use an amortization formula.

    This website, or hundreds of others easily found, may be helpful:
    http://www.amortizationformula.org/

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    find the present value of ordinary annuity payments of 890 each year for 16 years at 8% compounded annually What is the amount that must be paid (Present Value) for an annuity with a periodic payment of R dollars to be made at the …
  2. compound interest

    How do I solve these problems? Complete the table for a savings account in which interest is compounded continuously. 1. Initial Investment: $1000 Annual % Rate: 3.5% Time to Double: ?
  3. Accounting

    How would I find the formula for these problems?
  4. Financing and Accounting

    How would I find the formula for these problems?
  5. economics

    Suppose you were offered $2,000 to be delivered in 1 year. Further suppose you had the alternative of putting money into a safe certificate of deposit paying annual interest at 10 percent. Would you pay $1,900 in exchange for $2,000 …
  6. Consumer Math

    Find the annual amount of FICA at a 7.51% rate by computing his annual salary. Sam Takagi Weekly salary: $435.16 Not self-employed Find the annual amount of FICA by computing his annual salary. $169,938.68 $16,993.87 $1,699.39 2. Find …
  7. Math

    Stillwater hospital is borrowing $1,000,000 for its medical office building. The annual interest rate is 5 percent. What will be the equal annual payments on the loan if the length of the loan is four years and payments occurs at the …
  8. Math

    Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month …
  9. Finance - Loans problem please help

    A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company …
  10. math

    An investment of 25,000 earns interest at an annual rate of 8.4% compounded continuosly a. find the instantaneous rate of change of the amount in the account after years b. find the instantaneous rate of change of the amount in the …

More Similar Questions