CR Business Mathematics Section 2CR / Simple Interest / Lesson 63#7. A 180-day simple interest loan in the amount of $16, 400 will be paid in full in the amount of $16, 851. Find the interest rate of the loan. Use the banker's method, which uses 360 days in a year.All chOR=5.5%OR=6.0%OR=4.5%OR=5.0%Type here to searchF4O2:F501F6DELLF7FBF9F10PREVIOUS7 of 18Amberlyas20157F12NEXT184&105/

We need to use simple interest formula below to calculate rate of interest Simple interest =…

Answered: 7. A 180-day simple interest loan in…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

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Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $8,000 installment loan to be repaid in 48 monthly installments of $211.10? Round the answer to 4 decimal places. % per month What is the APR on this loan? Round the answer to 2 decimal places. %
Find the APR of the loan given the amount of the loan, the number and type of payments, and the add-on interest rate. Loan amount, $9,000; three yearly payments; rate = 8% The annual percentage rate is%. (Type an integer or a decimal.)
Use the ordinary interest method to find the rate of interest that Make Over Picture Photo pays on a loan of $8,000 for 265 days, if the amount of interest is $540.00. (Round your answer to the nearest tenth percent.) O 8.0% O 8.9% O 9.0% O 9.2%
An amount of $1632 is borrowed at a discount interest rate of 8% and the length of the loan is 4 months. Then the discount amount willI be: O 23.94 O 65.28 O 43.52 O 10.88 O 97.92
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Find the amount of interest and the maturity value of the following loan. Use the formula MV =P+I to find the maturity value. Round your answers to the nearest cent. Principal Rate (%) Time Interest Maturity Value $100,000 7 4 months
Calculate the Following: 2022 Revenue: $600,000 Net units sold in 2022: 3,000 access points 2022 ending total units: 3,500 access points Monthly revenue per unit (ARPU) = ? Monthly gross margin per unit (AMPU) = ? One time cost per unit (access point and licensing): $400 One time cost for sales compensation per unit: $100 One time cost per unit to install service: $84 Monthly support costs per unit: $1.50 Payback period per unit sold = ? Contract term: 36 months Instructions: Based upon fictitious data points in the above table please calculate: 1. Monthly revenue per unit (ARPU) 2. Monthly Gross Margin per unit ( AMPU) 3. Payback period per unit sold (How long will it take in months to start making profit off of 1 unit sold)? Once calculated explain your findings in a short analysis and recommendations you have associated with the findings.
Calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.) P = $2600, r = 8.8%, t = 5 months
You take out a 15-year FRM for $500,000. The bank offers 5% interest rate but charges you a loan fee of 5% of the total loan amount. What is the actual cost of borrowing of this mortgage? 0.42% 0.48% 5.00% 5.79%
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(please step by step solutions) The loan will have a term of 54 months and monthly payments of $385.13. The interest rate on the loan is 8.84% compounded quarterly. What is the amount of money that was borrowed? a$17 310.71 b$17 430.71 c$17 030.71 d$17 130.71 e$20 368.27
A $14,000 loan at 6% interest rate is paid over 4 years. Draw up the loan repayment table if the repayment follows the constant annuity method. solve it correctly please. I will rate accordingly. Show wo

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7. A 180-day simple interest loan in the amount of $16, 400 will be paid in full in the amount of $16, 851. Find the interest rate of the loan. Use the banker's method, which uses 360 days in a year. All c OR=5.5% OR=6.0% OR=4.5% OR=5.0%