. What is the exact time from June 26, 2019, to November 15, 2020?  2. What is the approximate time from June 26, 2019, to November 15, 2020?  3. What is the Ordinary simple interest using exact time?

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A: Given: Housing loan is Ro 50,000 Date 1st January 2020 Installment monthly

Q: Rahul deposits $5000.00 in an account on April 1, 2016 which earns 6.25% compounded quarterly. How…

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A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Maya borrowed 15, 000 pesos last June 10, 2020, from a lending institution which offered 12% simple…

A: The time period for which loan or borrowed amount is due or funds are held by borrower is calculated…

Q: What is the finance charge (in $) on the loan? $   (b) Use Table 13-1 to find what annual percentage…

A: Finance Charge: It is the cost in relation to borrowing money or the payment of any loan…

Q: Current Attempt in Progress Using a financial calculator, solve for the unknowns in each of the…

A: Present value (PV) is a financial concept used to determine the current worth of a future sum of…

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A: Present value = pv =$84,000 Total Installments =28*12 = 336 months Interest rate = r = 5.7/12 =…

Q: How much will Jim repay on March 11?

A: Introduction: The term loan refers to the amount which is lent by either an individual or an…

Q: A young executive is going to purchase a vacation property for investment purposes. She needs to…

A: Present value = pv =$126000Total Installments =29*12 = 348 monthsInterest rate = r = 5.3/12 =…

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A: The amount of the required monthly payment can be calculated using the financial calculator with…

Q: Who will have more money in their account after 20 years? How much more? x within your choice.

A: Time value of money (TVM) means that the amount of money received in the present period will have…

Q: Problem: Answer the following questions completely. Show all computations. Round off only the final…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

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A: Finance charges are the interest paid on the loan and these are additional payments over the loan as…

Q: Zelda borrowed R5760,00  from a bank for 21 months. For the discount loan she only received…

A: In this we have to calculate present value on based on discount rate.

Q: 2. Janica received a loan from her bank for Php 4,085 for a period of one year. The interest rate is…

A: Interest on Loan: The expense of borrowing money is represented by interest. When loan disbursements…

Q: Lamont borrows $315,000 to help finance the purchase of a townhouse and will be charged interest at…

A: The periodic interest rate can be found by using the following formula:

Q: On September 14, Jennifer Rick went to Park Bank to borrow $3,600 at 9.25% interest. Jennifer plan…

A:

Q: (please correct answer and don't use hend raiting) Krista borrowed $15,529. The loan is to be…

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Q: Joel borrowed $2776.55 on November 2, 2021 at 4.5% p.a. How many days would it take for him to…

A: A loan refers to a contract between two parties where money is forwarded to one party by the other…

Q: A young executive is going to purchase a vacation property for investment purposes. She needs to…

A: Borrowed Amount =$130000.00 YEars =28 Terms(m) =28*12 = 336 Monthly Rate(r) = 4.7%/12 = 0.39166667%…

Q: Nolan Walker decided to buy a used snowmobile since his credit union was offering such low interest…

A: Ordinary interest uses the base year of 360 days having every month of 30 days. On the contrary…

Q: On April 5, 2019, Janeen Camoct took out an 8.5% loan for $20,000. The loan is due March 9, 2020.…

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Q: Using a financial calculator, solve for the unknowns in each of the following situations. (a) On…

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Q: Question 3 Peter borrows $484466 at nominal interest rate of 6.5% compounded monthly. (For the…

A: EMI or monthly mortgage payments are the fixed amount paid by the borrower to the lender that…

Q: Christine applied for a cash loan at PCG money lending company amounting to 100,000 pesos at 10.68%…

A: Cash loan (C) = 100000 pesos r = 10.68% n = 12 payments

Q: 2-4. Lita borrowed P15,000 last June 10, 2020 from a lending institution which offered 12% simple…

A: Borrowed amount = P 15000 Borrowing date = June 10,2020 Payment date = October 10,2020

Q: On May 6, Jim Ryan borrowed $14,000 from Lane Bank at  7 1/2% interest. Jim plans to repay the loan…

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Q: Assume that time today is Dec. 13, 2022. Determine what is being asked in each problem. 1. Coco…

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Q: answer

A: Step 1: Calculate the monthly interest chargeThe monthly interest rate is 2%, which means the…

Q: Randy opened an RRSP deposit account on December 1, 2008, with a deposit of $1800 He added $1800 on…

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Q: On April 5, 2022, Janeen Camoct took out an 5% loan for $10,000. The loan is due March 9, 2023.…

A: Interest is defined as any compensation made by the borrowing party to the person from whom money…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.