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- Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600A loan of $2982 is repaid in three years. Find the amount of interest paid on the loan if it is compounded quarterly at 10%. Select one: a. $4010.46 b. $2217.28 c. $894.60 d. $1028.46Determine the monthly payment for a five-year loan on a $25 000 vehicle at 7% per year, compounded monthly. $265.39 $328.80 $376.22 $495.03 F
- Determine the monthly payment for a five-year loan on a $25 000 vehicle at 7% per year, compounded monthly. $265.39 $328.80 $376.22 $495.03Saved The interest rate on a $14,600 loan is 10.0% compounded semiannually. Semiannual payments will pay off the loan in seven years. (Do not round Intermedlate celculatlons. Round the PMT and final answers to 2 declmal places.) a. Calculate the interest component of Payment 10. Interest $4 b. Calculate the principal component of Payment 7. Principal 24 c. Calculate the interest paid in Year 6. Interest paid d. How much do Payments 7 to 10 inclusive reduce the principal balance? Principal reduction2. $6500 was borrowed at an interest rate of 12% compounded semi-annually. If the loan is to be paid off as a single payment after five years, how much money must be repaid? A) $8698.47 B) $11,455.22 C) $11640.51 D) $20,188.01
- A loan is taken out at /12 = 18% and is paid back with monthly payments of $279.00, plus a smaller concluding payment. With one month left on the loan, the outstanding balance is $268.66. What is the size of the final loan payment? $279.00 $264.63 $270.69 $268.66 $272.69Find the amount of the payment necessary to amortize each of the given loans. 53. $32,000 at 8.4% compounded quarterly; 10 quarterly payments 65A $42,000 loan is repay with semi annual payment of $5000. What is the size of the final payment of money is borrowed at 6% Compounded semi annually? A. $4125.09 B. 4227.79 C. 4004.94 D 4114.35 E 3090.00
- A loan of $24,800.00 at 5.00% compounded semi-annually is to be repaid with payments at the end of every 6 months. The loan was settled in 5 years. a. Calculate the size of the periodic payment. $2,606.63 $3,211.71 $2,833.62 $3,111.33 b. Calculate the total interest paid. $3,536.20 $28,336.20 $702.58 $6,369.82A car loan is taken for $20,000 to be paid back in 6 years, with monthly payments of $304. What nominal annual interest rate is being charged in this loan? 13.13% 3.07% 3.00% 1.09%Assume you have taken out a 25-year loan of $177,390 with an annual interest rate of 6.72%, compounded monthly. (a) Determine the payment amount (in dollars), to the nearest cent, on the given loan amount. $ 1222.25 (b) Determine the outstanding balance (in dollars), to the nearest dollar, after 17 years. $