I need $50,000 for a kitchen remodel. I can get a 401K loan 5 yr term 9.25 interest - total payments add up to 62,000 or so with a monthly payment of roughly $1,050. That payment is is tough on my current budget so I was considering a Home Equity Loan with a longer term. I know there are a...

I have an outstanding loan with a principle balance of $263,168. There are 99 monthly payments left on the loan with an interest rate of 8%. The monthly payments include principle and interest and are $3639.83 each. What is the present value of the loan and how is it calculated?

A company must repay the bank $10,000 cash in 3 years for a loan it entered into. The loan is at 8% interest compounded annually. The present value factor for 3 years at 8% is 0.7938. The present value of the loan is: from the formula I had I got 10,000/.7938 = 12,597.63 ( which is wrong!) and...