1. How much interest will be charged on 7,300 borrowed for three (3) years at a simple interest rate of 12% per annum?

Q: David’s bank offers a 36-month Certificate of Deposit (CD) with an APR of 2.25%. Use the compound…

A: CD duration (n) = 36 months r = 2.25% per annum = 0.1875% per month

Q: Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $87,000 at an APR…

A: Here, Borrowed Amount is $87,000 APR is 5% Time Period is 19 years Monthly Payment is $592

Q: What weekly deposits should be made into a savings account paying interest at 8.9% / year compounded…

A: Formula used in calculation: Where,A = Weekly depositsFVA = Future value of the annuity (or…

Q: A loan of £10,000 is repaid by annual payments of £1,300 each at the end of the year. How long does…

A: NPER or the number of periods is the calculation of the total periods of payment considering a…

Q: Find the interest rate for a $8500 deposit accumulating to $11,612, compounded annually for 6 years.…

A: A = the final amount (in this case, $11,612) P = the principal (initial deposit) (in this case,…

Q: The bank states they will charge you annual interest of 20% APR and interest is calculated…

A: The real interest that an investor earns on the investment and a borrower pays on loan after…

Q: You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments…

A: Present value factor is computed as follows:-Present value factor = wherer = interest raten = time…

Q: A deposit of $250 earns the following interest rates:   10 percent in the first year. 8 percent in…

A: Interest earned is the amount earned on the invested amount over the period of investment. It can be…

Q: uppose your firm has an obligation to pay an annuity with 18 annual payments of $80,000. The first…

A: Annuity payment is a  series of payments lasting for some specific period. An annuity payment for a…

Q: 2.59. Suppose you have borrowed $12,000 from a bank with the interest rate of 11.5%. Your monthly…

A: In the given problem we required to calculate the time it will take to repay the loan of $12000 at…

Q: A bank is offering a loan of $20,000 with an interest rate of 9%, payable with monthly payments over…

A: Monthly payment refers to the amount of money payable every month by the borrower to the lender of…

Q: Simple interest of P1,235 is owed on a loan of P9,500 after four years and four months. What is the…

A: Simple interest amount (I) = P1,235 Loan amount (P) = P9,500 Period (t) = 4 Years and 4 months =…

Q: Assume that you borrow $5000 and pay back the $5000 plus $250 in interest at the end of the year.…

A: Real interest rate: Principle = $5,000 Interest = $250 Interest rate =  2505,000×100%=5%

Q: If $500 is borrowed and the interest after 18 months is $45, what is the annual interest rate for a…

A: Given:

Q: How much of the financial goal comes from deposits and how much comes from​ interest?

A: Number of periods = 3 * 12 = 36 Monthly rate = 7.5% / 12 = 0.625% Future value = Annuity * [(1 +…

Q: If $14,000 is borrowed for 2 months and $82 is paid, then the annual simple interest rate is ____

A: Interest = p * r * t Interest = $82 principal = $14,000 r = rate of interest  t = time in years = 2…

Q: An installment loan for $18,000 has terms such that monthly payments of $180 are made for 10 years.…

A: Workings:- Time Period of Payments(in years) = 10 years Time Period of Payments(in months) = 10*12…

Q: If you borrow $7,500 at $550 interest for one year, what is your effective interest rate for the…

A: The effective rate of interest refers to the return on savings or interest on the investment…

Q: A firm sells its accounts receivables to a factor at a 3.5% discount. The average collection period…

A: Average collection period = 3 months Discount = 3.5% Receivables Turnover = 12months / Average…

Q: Assume you have secured a loan of $10,000 from a bank which will be paid in one year. The fin bank…

A: Loan: The duration of a loan, or the amount of time it takes for a loan to be repaid in full when…

Q: How much should you deposit now into a certificate of deposit (CD) at a bank, if the CD matures 10…

A: To calculate the principal amount deposit in the bank , we have to use the following formula : A = P…

Q: a. Calculate the loan’s annual financing cost. b. Calculate the loan’s annual percentage rate. c.…

A: Annual percentage rate (APR) refers to a real interest rate which an investor is expect from his…

Q: Suppose that you owe $2,000 on a credit card that charges 18% APR and you pay either the minimum 10%…

A: The time to pay off the debt, the installment, beginning, and ending balances can be seen from the…

Q: Your bank is offering you an account that will pay 19% interest (an effective two-year rate) in…

A: Interest rate is 19%Time period is 2 yearsTo Find:Equivelent interest rate for6 months1 yearone…

Q: Find the annual simple interest rate of a loan, where $800 is borrowed and where $904 is repaid at…

A: Interest charged on the principal amount at a fixed rate for a fixed period of time is known as…

Q: You take a small business (SBA) loan for $90,000. The current annual interest rate on SBA loans is…

A: Loan Amount = a = $90,000 Interest rate = 6%

Q: An amount of $124 is paid at the end of every month into an account. If the nominal interest rate is…

A: Here, Monthly Amount is $124 Interest Rate is 3.02% Compounding Period is Semi Annual Payment Period…

Q: You wish to make 4 equal annual deposits into a savings account such that at the time of your last…

A:

Q: you sign a discount note for $9,500 at a bank discount rate of 9% for 3 months, what is the…

A: A discount note is a short-term debt obligation issued by highly-rated corporations or…

Q: A payday loan is structured to obscure the true interest rate you are paying. For example, in…

A: In a payday loan , for $200 , we need to pay $230 which means we need to calculate rate applied in 2…

Q: A loan of $ 1,000 is being paid with annuities of $ 80 at an interest rate of 5. One year after the…

A: In this problem you have to find out present value of payment paid and balance payment.

Q: . An investor buys a 150 TL investment fund from the bank and sells it for 165 TL after 25 days.…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: Find the total amount that must be repaid on the following note described.

A: Simple interest Amount = Principal Amount x  Rate of Interest x Time  Amount Repaid = Principal…

Q: Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments.…

A: Annual  Payment  = P * r * [(1+ r)n/({1 + r}n -1)]Where, P = Principal borrowed =  $14,000r =…

Q: If you borrow $2,400 and agree to repay the loan in four equal annual payments at an interest rate…

A: Given information: Borrowed amount $2,400 Interest rate is 10% Number of periods 4 equal annual…

Q: A debt of $5600 is repaid in equal monthly instalments over three years. Interest is 7.3% compounded…

A: Installment is the amount of equal periodic payments a borrower has to make to its lender in order…

Q: What is number of regular deposits ? What is final deposit one period later after last regular…

A: Formula used: Calculating principal and interest for each payment with compounded daily interest…

Q: P(1+12) Calculate P1 Calculate = =. Let R = A В' and call this number A. (Round to two decimal…

A: Loan Payments: These are payments made by the borrower to the lender for amortizing the amount of…

Q: If you borrow $5,300 at $400 interest for one year, what is your annual interest cost for the…

A: The effective interest rate, also known as the effective annual interest rate (EAR) or annual…