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$5.00 Application Exercises

From Business: General-Business , Business: Finance
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Due on Apr. 20, 2012
Asked on Apr 17, 2012 at 2:08:41PM

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annmccollum

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2. What is the monthly debt service payment on Marco’s loan if Enrique lends him $15,000 for
four years at 8% interest?
3. Tanya is trying to prepare her loan amortization schedule for the renovation of her bed-andbreakfast
facility. Her banker is quoting her an interest rate of 12% for four years. The loan
amount is $25,000. Prepare the loan amortization schedule.
4. Juan would like to add a shuttle service for his hotel guests to nearby shopping centers.
The van has a price tag of $35,000. His bank will give him a loan for $25,000 at only 6%
interest, compounded monthly, if Juan pays $10,000 as a down payment. What is Juan’s
loan amortization schedule for the first five months?
5. What will be the total interest expense that Tanya (exercise 4) and Juan (exercise 5) will
have to pay for their loans over the entire term?

In your opinion, what is the most important factor to consider when contemplating a loan offer? Explain your reasoning.

100 words each question show your work when need