A loan of $5000 is paid off with payment of $532.76 made at the end of each six month period for six years. The interest rate is 8% compounded semi-annually. The interest portion of the fifth payment is: $143.48 $286.96 $389.28 $166 67

Q: Calculate the monthly mortgage payment. $220,000 is financed for 20 years at 5% APR

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Q: Rachel purchased a car for $23,900; she paid 20% of the cost as a down payment and financed the…

A: The compound interest formula for an initial amount of P at a rate of r%, for t years compounded n…

Q: Your company borrowed $180,000, agreeing to pay the balance in 18 equal monthly installments at 8%…

A: The formula to find is, Remaining balance =  (Original balance*(1+r)^n)-EMI*((((1+r)^n)-1)/r)

Q: Find the payments necessary to amortize each loan. $2500, 16% compounded quarterly, 6 quarterly…

A: Given, r=16% =0.16 P=$2500 n=6 A=Pr1+rn1+rn-1

Q: Find the payment made by the ordinary annuity with the given present value. $231,156; quarterly…

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Q: Find the APR (rounded to the nearest percent) for the loan listed. Purchase of a refrigerator for…

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Q: Find the interest rate for each deposit and compound amount. 6) $8000 accumulating to $12,384.48,…

A: Recall the following fact.

Q: The payment on a 15 year loan at 9.36% compounded weekly is $180.00. Calculate the amount of the…

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Q: Find the lump sum deposited today that will yield the same total amount as payments of $6,000 at the…

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Q: $450 is deposited at the end of each quarter for 1.5 years at 10% interest per year compounded…

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Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: You purchase an RV by making a down payment of $10,500. The terms of your finance agreement have an…

A: To calculate the cash price of the RV, we need to determine the present value of the loan and add…

Q: Use the formula or a calculator application to find the monthly payment on a home mortgage of…

A: From the given data loan amount (P.V.) = ​$295,298rate of interest  = 4.908 % = Monthly interest…

Q: $20,000 in a fund paying 2% per year, with monthly payments for 5 years PMT =

A: The objective of this question is to calculate the monthly payments (PMT) for a fund of $20,000 that…

Q: Find the new balance, assuming that the bank charges 1.5% per month on the unpaid balance. Previous…

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Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Find APR (rounded to the nearest tenth of a percent) for the loan. Purchase a living room set for…

A: We know,  APR = 2Nr/N-1

Q: Shannon finances her new car with a $9,900 auto loan. The loan has a 5-year term at a fixed annual…

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Q: Compute the monthly payments for each add-on interest loan. The amount of the loan is $1300. The…

A: Addon interest also known as simple interest formula is given by the equation; A=P1+rt100 Where A is…

Q: A loan is repaid with payment of $7209 at the end of each quarter for 11 years. If interest on the…

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Q: Compute the monthly payments for the add on interest loan. The amount of the loan is $9,963.00. The…

A: The interest for a loan of principal amount P for an interest rate of r% for t years is given by;…

Q: Toby takes a one year loan from the bank for $50,000. The bank charges a nominal interest rate of…

A: Given,

Q: The payment on a 15 year loan at 9.36% compounded weekly is $180. Calculate the amount of the loan.

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Q: You take out a 7-yr car loan for $25,000 with a 7.5% APR. The fixed monthly payment is $383.46. How…

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Q: $20,000 in a fund paying 2% per year, with monthly payments for 5 years PMT =

A: The objective of the question is to calculate the monthly payments (PMT) for a fund of $20,000 that…

Q: For the given corporate bond, whose annual simple interest rate is provided, find the semiannual…

A: Here we have to find semiannual interest rate and total interest rate over 30 years.

Q: find the monthly mortgage loan payment for a $174,000 loan at 2.2% for 30 years.

A: The objective of this question is to calculate the monthly mortgage payment for a loan of $174,000…