A CSA want to take out a loan to purchase a new van for local produce box deliveries. They would take out $31,600 at an annual rate of 7.2% that would be fully amortized over 5 years. (i) What would be the annual loan payment? a. $6,434 b. $7,544 c. $7,445 d. $7,748 e. None of the above (ii) Calculate the remaining principal for year 4? a. $13,970 b. $7,672 c. $7,228 d. $7,276 e. None of the above (iii) Calculate the principal payment for year 5? a.$7,672 b.$6,742 c.$6,025 d.$7,228 e. None of the above

Q: 5. Lerios has a loan business that charges 15% simple interest. Joey borrowed P4000 from Tony; how…

A: Given information, Principal amount (P): P4000 Time period (t): 60 days Interest rate (r): 15% To…

Q: Annabelle loaned a certain amount from ABC bank. She agrees to pay P5000 at the beginning of each…

A: Pay = 5000 time Period = 6 years. interest rate = 10% compounding quater

Q: Manually calculate the compound amount and compound interest (in $) for the investment. Compound…

A: A = Amount  P = Principal t = Time  Nominal rate= r  Compound interest (CI) = Amount(A) -…

Q: hance You miss the 11th to 13th payments of a loan. The loan payments are $519.27 each month and the…

A: The interest that is calculated using both the principal and the interest that has accrued during…

Q: A company plans to buy a new delivery truck for pizza delivery for $30,000 which will generate…

A: Purchase Price = $30000 Revenue per year = $5000 Maintenance every six month after 5th year = $500…

Q: Question 1: If you borrowed 18000$ at 4% annual interest. You agreed to repay the loan with five…

A: Answer; 1)Total Interest: $2,216.44 2)Interest= $448.82Principal=$3,594.47 3)Balance after 3rd…

Q: - Payday Quik Loan's customers must repay $105.50 one monthtater for each $100 of paycheck advance.…

A: Here, it is given that the present value is $100 and the future value is $105.50 after one month.…

Q: A P1000, 6% pays dividend semiannually and will redeemed at 110% on June 21, 2004. It is bought on…

A: Yield to maturity (YTM) refers to a rate of interest that will be applied to discount the bond's…

Q: A zero coupon bond will be worth $13.000 when à matures and is redeemed alter 15 years How much…

A: A zero-coupon bond is also known as a discount bond or deep discount bond. A zero-coupon bond refers…

Q: None

A: Step 1:a.We have i = 12%, n = 12$600 (P/A, 12%,12) = 600 * 6.1944 PV = $3,716.62  Step 2:b.here we…

Q: A grocery store sells for $181,500 and a 20% down payment is made. A 35-year mortgage at 6% is…

A: A grocery store sells for $181,500 and a 20% down payment is made. A 35-year mortgage at 6% is…

Q: You need to borrow $250,000 right now and can repay the loan in 9 months. Since you want to pay as…

A: Given; Amount needed to be borrowed= ₱250000 Time= 9 months Formula to calculate future value:-…

Q: 7. Lawrence takes out a loan for $8000 to start a business after high school. The bank charges him…

A: Here, given information is, Lawrence loan amount (P): $8000 Interest rate (r): 8% per year Time…

Q: Write  the formula which is used to calculate the annual effective yield?

A: Effective yield refers to the return on a bond for which interest payments are reinvested by the…

Q: Set-E4. What is the effective annual interest rate if a credit union pays 4.125% interest (a)…

A:

Q: Question 11 of 11 View Policies Current Attempt in Progress Natasha takes out a loan. The interest…

A: At month t she owes $14000 At month t+1, she owes $14000(1+(0.09/12))=14105 After this payment is…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: A bond is a fixed-income investment that represents a loan made by an investor to a borrower,…

Q: What is the total cost of interest?

A: Total cost of interest = (monthly MorTgage Payment x Year x 12) -(Loan Amount ) Monthly Mortgage…

Q: tion 7 nortization of a debt is in a form of a gradient series of P20,000 on the first year, P19,500…

A: Given that, Gradient series is for 4 years. PW of amortized debt = cashflow / (1× rate)time NPV is…

Q: simon's cost for a new computer with accessories was $3120. he made a down payment of $550 in…

A: Monthly payment = $111.73 Term of loan = 24 months Thus, total payment after down payment =…

Q: What is the definition of Annual Percentage Rate (‘APR’) for a loan? Why is it typicallydifferent…

A: There are various methods to calculate interest rates and the amount of interest varies according to…

Q: Which of the following is the preferable interest rate for investing your money? (i) 12% Compounded…

A: Given: Interest rate (r)=12%

Q: Actual rate of interest on the principal for one year. A Nominal Interest B Compound Interest

A: The rate of interest on principal is returns for postponing consumption or spending. High rate of…

Q: 4. Sue opens a charge card account with a department store. In the charge account agreement, the…

A: The real yearly cost of borrowing is calculated using the effective interest rate (EIR), commonly…

Q: ers to the professed interest rate.   a Nominal   b Effective   c Ordinal   d Actual

A: Professed  interest rate or stated rate is the rate that banks or lender shows the interest rate…

Q: Michelle borrows 5,000 for 6 years at 8% rate. At the end of 6 years, she decided to renew the loan…

A: Lump sum refers to when the entire payment is made at once instead of in the form of continuous…

Q: In a mortgage/trust deed form of loan the terms of payment and interest rate would be found on the…

A: Trust Deed is the agreement signed when one person or party wants to purchase a property then for…

Q: An asset purchased for $50,000 is to be depreciated over 5 years using the straight-line method.…

A: Cost of Asset = 50,000 salvage Value = 10,000 n = 5 Years

Q: A loan is repaid by making payments of $5000.00 at the end of every six months for fourteen years.…

A: Periodic payment (A) = $5000.00Length of each period = 6 months or half a year.Nominal rate of…

Q: The problem describes a debt to be amortized. (Round your answers to the nearest cent.)  A man buys…

A: The payment is made semi-annually. Thus, the time period is 24 semi-annual (12 years) period.…

Q: R-61 [Review Question] I. F=A(F/A, 1%, 6) II. F=A(F/A, 1%, 5)(P/F, 1%, 1) III. F=A(P/A, 1%, 5)(F/P,…

A: Given information: Annuity = A Years = 6 Interest rate = %

Q: you borrow $4000 and you have to return it after 3 years, in case of compound interest rate of 6…

A:

Q: What type of interest is the capital invested in a transaction is principal and at any time after…

A: Interest can be determined in two ways: simple interest or compound interest. Simple interest is…

Q: The simple interest on a $6500 loan at 15% for 9 months is. a)$731.25 b)$7312.50 c)$73.13 d)$2925

A: Loan amount = 6500$ Interest rate = 15% Interest rate for 9 months = 15/12*9= 11.25% Interest…

Q: Which of the following is a cash outflow? Current year…

A: Cash inflow means that the money going into an entity which could be from investments, sales, or…

Q: 3. Jeff opens a charge card account with a department store. In the charge account agreement, the…

A: The nominal interest rate is the rate of interest quoted by a lender or financial institution before…

Q: Student Emergency Financial Services, Inc.,which makes small loans to college students, offersto…

A: The effective rate of return is returned annually when compounded more than once(i.e annually) in a…

Q: Calculate the amount of interest on an investment of AED 258,792 at 8% simple interest for 6 years.

A: GIVEN     Here we will use the formula for simple interest, that is. A = P(1 + rt) We have, P =…

Q: . Irish is offered to invest in a business firm that will make her money earn 6% compounded

A: Bio monthly has two meaning one is twice in one month or happening every  two months .  Here i…

Q: 2. Jan decides to invest $9,000 in a 401(k). If this is invested for 40 years, how much will there…

A: Receiving interest on both the initial principal (first deposit) and any interest that has…