. Mr. Robles got a $1500.00 loan for 2 years. He paid $80 in interest. What was the interest rate?

Q: A deposit of $495 earns 3% p.a. interest compounded monthly, how much money will be in the bank…

A: Given information, Principal amount (P): $495 Interest rate (r)= 3% Compounding period (m): 12…

Q: It refers to annuity that doesn’t start until some time in the future.   a Late Annuity   b…

A: An annuity refers to a contract designed to provide a certain a amount of income which is payable at…

Q: College Financial Sources, which makes small loans to college students, offers to lend $500. The…

A: Given: P=500 A=40 n=16 i=?

Q: You can afford a $800 per month mortgage payment. You've found a 30 year loan at 7% interest. a) How…

A: Monthly Mortage payments is  M = $800The annual Interest Rate is      7% The monthly interest rate…

Q: You can afford a $350 per month car payment. You've found a 3 year loan at 6% interest. How big of a…

A: Monthly payment that can be affordable is equal to $350 So A=350 The rate of interest  is 6% per…

Q: Table 14-1: Monthly Payments to Amortize Principal and Interest per $1,000 Financed Monthly Payments…

A: Monthly PITI (Principal, interest, tax , insurance) = monthly PI + Monthly tax + monthly insurance…

Q: Kathy buys a tv set fir 12,500 cash after 60 days. Kathy wishes to pay immediately and the seller…

A: F = 12,500 Interest rate, i = 0.08 Time, n = 60 days or 60/360 We know that F = P[1+i(n)]

Q: b. How much would you expect to pay per month on a $20,000 auto loan if you pay the loan back for 48…

A: Given, Loan amount (A) = $20,000 Time period = 48 months Interest rate = 10% = 0.10 and monthly…

Q: You opened a savings yesterday by depositing $10,000. You would like to be able to withdraw $2,000…

A: The amount that the lender charges the borrower over and beyond the principal amount is referred to…

Q: lla Stein paid $187.50 interest on a loan of $12,000 for 3 months. What was the rate of interest she…

A: Interest amount =$187.5 Loan amount =$12000 Time=3 months

Q: 1) You have a goal of saving $1500 over 6 years. Assuming bank interest rates are 5%, What annual…

A: Here we calculate the annual deposit amount by the following method as follow;

Q: If your receive $500 in simple interest on a loan that you made for $10,000 for 5 years, what was…

A: here we calculate the interest rate charged which are as follow-

Q: On June 3, 2022 Fred loaned 198143 in a bank. It was agreed that he will pay the amount with 11.2%…

A: Introduction BANKERS RULE The rule used to calculate simple interest when applying the United…

Q: GIVE TWO EXAMPLES ON DEFERRED ANNUITY

A: In a market, deffered annuity refers to the amount of  moeny that an individual will gain in the…

Q: Suppose that in a closed economy GDP i equal to 5000 taves are equal to 1000. consumption in equal…

A: Given information: Economy is closed. It means there is no import and export.  GDP = 5000 Taxes =…

Q: A person deposits $1,000 in an account each year for five years (starting at the end of year one).…

A: The future value of cash flow refers to the value of a sum of money or a series of cash flows at a…

Q: How can we calculate the effective interest rate, altering the period value?altering the period…

A: The effective interest rate refers to the rate of interest that is paid on an investment or loan or…

Q: ?Borrow $100 today at 4% interest. How much do you owe after 5 years

A: Principal = $100 Interest rate = 4%

Q: Derek borrows $294,333.00 to buy a house. He has a 30-year mortgage with a rate of 5.79%. After…

A: The term mortgage refers to a loan used to purchase or maintain a home, land, or other types of real…

Q: jerry bought a house for $400,000 and made an $80,000 down payment. the rest of the cost was paid…

A: Jerry purchased a house for $400,000 with an $80,000 down payment and financed the remaining cost…

Q: 7. Sharon borrowed P3400 from a bank which charged the rate of 8% from February 16, 2004 to April…

A: First, the number of days needs to be calculated. 2004 is a leap year and therefore, February will…

Q: 1. Compute the present worth at time zero of deposits of $1,000 a year for 10 years with nominal…

A: Given Time Period = 10 Years Interest Rate = 18.23% Periodic Payment = $1,000

Q: Assume, you want to get $1,000 after 5 years. How much equal amount of money do you need to deposit…

A: Present value is the value of investment in today's dollar.Future value is the value of investment…

Q: You can afford a $900 per month mortgage payment. You've found a 30 year loan at 6.5% interest. a)…

A: Given  Monthly mortgage payment A = $900 Time t= 30 years  Rate of interest =6.5% compounded…

Q: And we took out a loan for 146 days and was charged simple interest rate of 12.5 total interest he…

A: Simple interest is an interest charge that borrowers pay lenders for a loan. It is calculated using…

Q: Discount 1650 for 4 months at 6% simple interest. What is the discount?

A: Principal = 1650 Discounted for 4 months = 4/12 = 1/3 years Rate of interest = 6% S = sum total P =…

Q: What is the U.S 6 month interest rate?

A: In the mentioned question we have been asked about the 6-month interest rate of the U.S.

Q: Frank's loan pay off is to be made in two installments: $2500 in a year, and $3500 in 3 ½ year.…

A: Given that: First installment: $2500 in a year Second installment: $3500 in 3 ½ year Interest rate:…

Q: You borrow P20,000 from a family member and agree to pay it back in 6 months. Because you are part…

A: Simple interest is a method of calculating interest that ignores the impact of compounding.Simple…

Q: A certain amount of money doubles after 9 years. Determine its effective interest.

A: 7.2% is the effective interest rate. Workings.   The money will have doubled after nine years.   The…

Q: a

A: An income annuity allows for conversion of part of retirement funds into a stream of guaranteed…

Q: Ron invest $2000 in a savings account that gives him a simple interest rate of 6% for 3 years. A.…

A: The simple interest method ascertains the interest an individual will earn on an investment at some…

Q: 1. A certain annuity pays P(80+N) at the end of every 3 months. If the present value of the annuity…

A: As per the guidelines, only first question can be answered. Kindly repost the other questions in a…