Finance

Sheet Metals has an outstanding loan that calls for equal annual payments of $12,600.47 over the life of the loan. The original loan amount was $72,000 at an APR of 8.15 percent. How much of the third loan payment is interest?
$5,868.00
$4,725.89
$4,896.48
$5,009.16
$4,687.53

  1. 👍
  2. 👎
  3. 👁
  1. Solved! :)

    1. 👍
    2. 👎
  2. i dont know

    1. 👍
    2. 👎
  3. My name is sam and no share answer

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    The Sandersons are planning to refinance their home. The outstanding principal on their original loan is $100,000 and was to amortized in 240 equal monthly installments at an interest rate of 11%/year compounded monthly. The new

  2. math

    A store offers a loan for $900 to buy a computer. The terms of the loan are for 9% simple interest and equal monthly payments for three years. What is the monthly payment?

  3. Finance

    Audrey Sanborn has just arranged to purchase a $550,000 vacation home in the Bahamas with a 20 percent down payment. The mortgage has a 6.1 percent stated annual interest rate, compounded monthly, and calls for equal monthly

  4. Finance

    You take out a 30-year $100,000 mortgage loan with an APR of 6 percent and monthly payments. In 12 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan? I am working this on the

  1. math

    Loan amount = $9,500 Monthly payments = $227.50 Time of loan contract = 5 years True annual interest rate (to the nearest tenth) =

  2. Finance

    Loan Payments - If you take out an $8,000 car loan that calls for 48 monthly payments APR of 10 percent, what is your monthly payment? What is the effecgive annual interest rate on the loan? the montly rate is 0.10/12=.0083333...

  3. eco

    Suppose a person pays $80 of annual interest on a loan that has a 5 percent annual interest rate. The loan amount is: A. $400. B. $1,600. C. $160. D. $85. 10. Suppose a loan customer is considering two alternative $22,000 loans.

  4. Math

    Suppose you take out a 45​-year ​$100,000 mortgage with an APR of 6​%. You make payments for 2 years ​(24 monthly​ payments) and then consider refinancing the original loan. The new loan would have a term of 20 ​years,

  1. Accounting

    On January 1, 2009, Sweetwater Furniture Company leased office space under a 21-year operating lease agreement. The contract calls for annual rent payments on December 31 of each year. The payments are $11,000 the first year and

  2. Math

    The monthly loan payment was calculated at 119 payments of $348.33 plus a final payment of $347.54. Loan Balance: $30,000.00 Loan Interest Rate: 7.00% Monthly Loan Payment: $348.33 Number of Payments: 120 Cumulative Payments:

  3. Math

    Maya bought a car for $15,000. To pay for it, she took a bank add-on interest loan at an annual interest rate of 9%. The loan term is 5 years. How much interest will she pay and what are her monthly payments?

  4. Math

    1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR? MY ANSWER=0.33% 2. Tim Newman took out a simple interest loan of $1500

You can view more similar questions or ask a new question.