Post a New Question

math

posted by .

in 2nd year Adam owed $ 977.53, in the 3rd year he owed $ 1036.18 and in the 4th year he owed $1098.35 how much was the loan originally, and determine the future value of the loan after 10 years

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Compound Interest : Future Value and Present Value

    Payments of $1800 and $2400 weere made on a $10,000 variable-rate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semi-annually for the first two years and 10.74% compounded monthly thereafter. …
  2. CYU

    what is the monthly payment on a loan of 250,000 with 6% interest that compounds monthly for 30 years how much will be owed in 5 yrs how much will be owed in 10 years
  3. math

    Loan #1 Year Amount owed 1 $3796 2 $3942 3 $4088 Loan # 2 Year Amount owed 1 $977.53 2 $1036.18 3 1098.35 For loan #1 is simple interest. Loan #2 is compound interest How much was each loan originally Determine the future value of …
  4. math

    Loan #1 Year Amount owed 1 $3796 2 $3942 3 $4088 Loan # 2 Year Amount owed 1 $977.53 2 $1036.18 3 1098.35 For loan #1 is simple interest. Loan #2 is compound interest How much was each loan originally Determine the future value of …
  5. MATH

    CALCULATE $310 LOAN AT THE RATE OF 12% PER YEAR. HOW MUCH INTEREST IS OWED FOR 4 MONTHS
  6. Math

    You need to borrow $20,000 to buy a car. You can only afford to make monthly payments of $200. The bank offers 3 choices: 3-year loan at 5%, 4-year loan at 6%, and a 5-year loan at 7%. a) What’s the monthly payment for each loan?
  7. Math

    marisol owed $384 in interest after a 24 month loan with a simple interest rate of 8.09%. What was the initial amount of the loan?
  8. Business math

    No payments were made on a $3500 loan during its three-year term. What was the annually compounded nominal interest rate on the loan if the amount owed at the end of the term was $4298.73?
  9. math 106

    A lender offers a choice between two loans. For loan A the lender charges 12% a year compounded 12 times a year. For loan B the lender charges 12.5% a year and compounds it once a year. Is loan A or loan B a cheaper loan for the borrower. …
  10. Math

    A lender offers a choice between two loans. For loan A the lender charges 12% a year compounded 12 times a year. For loan B the lender charges 12.5% a year and compounds it once a year. Is loan A or loan B a cheaper loan for the borrower. …

More Similar Questions

Post a New Question