A loan has quarterly payments. The APR is 16%, and interest is compounded 12 time(s) per year.The effective interest rate that would be needed to find the payment amount for the loan is_%.Margin of error for correct responses: +/-.02 (%)Rounding and Formatting instructions:Do not enter dollar signs, percent signs, commas, X, or any words in your response. Donot round any intermediate work, but round your *final* response to 2 decimal places(example: if your answer is 12.3456, 12.3456%, or $12.3456, you should enter12.35).

When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Answered: A loan has quarterly payments. The APR…

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

Problem 1PS

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Calculate the missing information for the following loan. Round days to the next higher day when necessary. Do not enter units in your answer. Do not round intermediate calculations. Principal Rate (%) Time (days) Interest Method Interest Maturity Value $ 60,000 10.6 Exact $3,800 $63,800
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $4000 balance, 14%, $2,500 payment (a) previous balance method $ (b) adjusted balance method $ (c) average daily balance method $ Need Help? Read It
A property has an NOI of $288,750 and a value of $4,812,500, the bank will issue a loan based on a 5% interest rate, 240 month term subject to a maximum DSCR of 1.35 and maximum LTV of 75%, what is maximum loan they will make? Please enter answer in following format, $10.00, would be 10.00, do not use $ signs.
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The First Bank of Lending lists the following APR for loans. Determine the APY, or effective interest rate, for a loan amount that is less than $20,000. Express your answer as a percentage rounded to the nearest hundredth of a percent, if necessary. First Bank of Lending Loan APR Loan Amount APR* <$20,000 12.25% $20,000–$99,999 9.99% >$99,999 6.75%

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