1. Mrs. Natividad paid P5,380 on a loan made in 6 months at 8% simple interest. Find the original amount of her loan. (Round off your final answer to two decimal places.) Your answer
Q: Jill pays $2000 at time 0 in order to receive $1400 at time 1 and $1400 at time 2. Find the annual…
A: Payment in year 0 = $ 2000 Receipt in year-1 = $ 1400 Receipt in year-2 = $ 1400
Q: Derek borrows $263,197.00 to buy a house. He has a 30-year mortgage with a rate of 5.93%. After…
A: A mortgage loan payment is a regular, typically monthly, installment made by a borrower to repay a…
Q: Dion took out a mortgage of $459,000 for a house and just made the 91st end of month payment.…
A: Mortgage refers to the amount borrowed for a defined period at the rate of interest. The borrowed…
Q: Gabrielle held a loan of $1,900 for 6 months and was charged interest of $106.40. What was the…
A: Two types of interest calculations are there: Simple Interest = As the name suggest it simply…
Q: Daniel paid $825 simple interest on a $1400 loan for five years . What was the interest rate?
A: Given: Simple Interest =$825Principal amount =$1400Time =5 years
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: Rosetta has a mortgage of $328,000 through her bank for property purchased. The loan is repaid by…
A: Amortization refers to the systematic and periodic repayment of interest and principal over a given…
Q: Caroline borrowed $1,500.00 at 9.00% p.a. She wants to settle this loan with 2 equal payments, one…
A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…
Q: Karen obtained a $36,000 loan at 3.5% compounded semiannually. a-1. What monthly payment will repay…
A: Here, Loan amount = $36,000 Interest rate = 3.5% compounded semi-annually Time = 8.5 years To Find:…
Q: Hannah purchased a house for $475,000. She made a downpayment of 25% of the value of the house and…
A: Monthly payment is the payment made by every month that includes the principal and interest amount.
Q: Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,300 and financed…
A: Finance charges are the interest paid on the loan and these are additional payments over the loan as…
Q: Loretta Scholten bought a home for $210,000 with a down payment of $30,000. Her rate of interest is…
A: Given: Total amount = $210000 Down payment = $30000 Rate of interest = 6%
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: Vanessa initially borrowed $6,400 from RBC Bank at 3.64% compounded semi-annually. After 4 years she…
A: The future value function can be used to determine the future value of a sum at a given discount…
Q: 5. Jenna received a 15 year loan of $375,000 to purchase a 5.10% compounded semi-annually. a. What…
A: Loans are paid by the fixed monthly payments and these payments carry the payment for interest and…
Q: Jasmin has a mortgage of $296,000 through her bank for property purchased. The loan is repaid by end…
A: Mortgage Amount = $296,000Interest rate = 6.36%Period = 16 Years
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: Fred and Ethel are going to take out a business loan on which they will make annual payments of…
A: An amortized loan is a type of loan where the borrower makes regular fixed payments over the loan's…
Q: Jasmin has a mortgage of $296,000 through her bank for property purchased. The loan is repaid by end…
A: An interest charge is the cost of obtaining or extending credit. The cost of managing the loan, as…
Q: QUESTION 1 A man buys a house for $360,000 He makes a $150.000 down payment and amortizes the rest…
A: It is a case where a house is purchased using a downpayment as well as a loan is taken up to cover…
Q: Gregory took out a mortgage of $735,000 for a house and just made the 104th end of month payment.…
A: The monthly payments on the loan amount can be found by using the Excel sheet formula function PMT…
Q: Alexandra took out a mortgage of $791,000 for a house and just made the 79th end of month payment.…
A: A mortgage is a borrowing taken such that regular payments are made to repay the loan. The…
Q: While buying a new car, Abigail made a down payment of $1,000 and agreed to make month-end payments…
A: The real interest that an investor earns on the investment and a borrower pays on loan after…
Q: Kim is shopping for a car. She will finance $14,000 through a lender. The table to the right shows…
A: Interest is required to be paid on amount of loan taken.Repayments of loan can be monthly ,…
Q: Mrs Angngad acquired a loan of P50000 from a credit union that charges interest of 16% compounded…
A: Loan amount = P 50,000 Annual interest rate = 16% Quarterly interest rate = 16%/4 = 4% Annual period…
Q: Kristina has a mortgage of $575,000 through her bank for property purchased. The loan is repaid by…
A: Formulas:
Q: Jason bought a home in Arlington, Texas, for $127,000. He put down 25% and obtained a mortgage for…
A: Price of home = $ 127000 Down payment = 25% Loan amount (PV) = 127000*(1-0.25)…
Q: (ANSWER LETTER C ONLY AT THE BOTTOM OF THE PAGE) Michael Sanchez purchased a condominium for…
A: A mortgage is an arrangement between the borrower and the lending institution that grants the…
Q: Carissa's parents were unable to pay for her last year of college, so she obtained a student loan of…
A: A loan refers to a contract between a lender and a borrower where money is forwarded by the lender…
Q: Madison initially borrowed $8,200 from TD Canada Trust at 3.45% compounded semi- annually. After 2…
A:
Q: Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the…
A: Annuity = a = $1300 Time = t = 26 years Interest rate = r = 8%
Q: Trashia has a mortgage of $474,000 through her bank for property purchased. The loan is repaid by…
A: Solution : Loan Amount = $ 474000 Loan Term = 23 Year or 276 month Interest…
Q: Elijah took out a mortgage of $672,000 for a house and just made the 113th end of month payment.…
A: The monthly payments on the loan amount can be found by using the Excel sheet formula function PMT…
Q: 6. The Bartolotti family took out a loan to have a garage built next to their house. The ten-year,…
A: Promissory note is defined as the legal instrument, where an issuer used to promise in writing for…
Q: 3. If Esmeralda paid $740.00 in interest of 16% for 2 years, how much money did she borrow?
A: Simple Interest may be defined as Interest that is calculated as a simple percentage of the…
Q: Leona purchased a home and obtained a 25 year loan of 437,750$ at an annual interest rate of 6.5%.…
A: given, n = 25years r= 6.5% m = 12 p = 437,750
Q: Arianna borrowed $6700. Over the course of 4 years, Arianna ended up paying $1340 in interest. What…
A: Simple interest is that interest which is charged only on the principal. It is not the same as…
Q: Sara deposited $3000 in an account that earns 5.5% simple interest. How much money will be on…
A: A = P * (1 + rt) A = final amount p = Present value r = Interest rate T…
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- Luis paid off a loan by making a payment of $4,050, which included simple interest of 3% p.a. If he obtained the loan 6 months ago, calculate the amount borrowed and the amount of interest paid on this loan. Amount borrowed: Round to the nearest cent Amount of interest paid: Round to the nearest centplease use ba II when able A homeowner has five years of monthly payments of $1,100 before she has paid off her house. If the interest rate is 5% APR, what is the remaining balance on her loan? A. $46,632 B. $69,948 C. $58,290 D. 81, 606Charmaine obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 9.65%. Her loan is for $17,100 for 76 days. Assume each day is of a year. Answer each part below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find the interest that will be owed after 76 days. (b) 1 365 s Assuming Charmaine doesn't make any payments, find the amount owed after 76 days. $ 3
- Keiko obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 9.65%. Her loan is for $16,500 for 76 days. Assume each day is of a year. Answer each part below. 365 Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find the interest that will be owed after 76 days. (b) Assuming Keiko doesn't make any payments, find the amount owed after 76 days.Find the monthly payment for the loan indicated. yo purchase a home, a family borrowed $97,000 at an annual interest rate of 6.3% for 20 years. $____Matthew received a loan of $31,000 at 4.75% compounded quarterly. She had to make payments at the end of every quarter for a period of 7 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. 0.00 Payment Number 0 1 2 Payment $0.00 $0.00 Interest Portion $0.00 $0.00 Principal Portion $0.00 $0.00 Principal Balance $31,000.00 $0.00 $0.00
- Alexandra took out a mortgage of $791,000 for a house and just made the 79th end of month payment. Interest on the loan was 4.43% compounded monthly and the mortgage has a period of 19 years. Round ALL answers to two decimal places if necessary. 1) What are her monthly payments? P/Y = I/Y = % BAL= $ positive value) C/Y = PV = $ PMT= $ N = FV = $ 2) What is her current outstanding balance after the 79th payment? (enter aKaren obtained a $20,000 loan at 4% compounded semiannually. a-1. What monthly payment will repay the loan in 7 1/2 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Monthly payment $ a-2. How much interest will Karen pay over the life of the loan? (Round intermediate calculations to 2 decimal places and round your final answer to the nearest dollar.) Total interest LALeona purchased a home and obtained a 25 year loan of 437,750$ at an annual interest rate of 6.5%. Find the amount of interest paid on the loan over the 25 years. Round answer to nearest cent.
- HemangKaren obtained a $26,000 loan at 4.6% compounded semiannually.a-1. What monthly payment will repay the loan in 8 1/2 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)Monthly payment $a-2. How much interest will Karen pay over the life of the loan? (Round intermediate calculations to 2 decimal places and round your final answer to the nearest dollar.)Total interest $Vincent received a loan of $28,000 at 4.25% compounded monthly. She had to make payments at the end of every month for a period of 5 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent b. Complete the partial amortization schedule, rounding the answers to the nearest cent. Payment Number Payment K 0 1 2 0 0.00 0 0 Total :: :: $0.00 $0.00 $0.00 $0.00 $0.00 Interest Portion Principal Portion $0.00 $0.00 :: :: $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Principal Balance $28,000.00 $0.00 $0.00 :: $0.00 $0.00 0.00
