Assume you take out a $2000 loan for 30 months at 9% APR. What is the monthly payment? (Round your answer to 2 decimal places.)  N:   months I %:  P.V: $ PMT: $ F.V: 0 P/Y: 12 C/Y: 12

Q: What is the monthly payment on a loan of $5,000 at APR = 6% for 3 years

A: Monthly payment can be calculated by loan amount divided by present value factor of an ordinary…

Q: A $2,500 loan is offered for 27 months at 5.2% compounded annually. maturity value? Refer to the…

A: Loan = $2500Interest rate = 5.2% compounded annuallyPeriod = 27 months or 2.25 year

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A: The objective of this question is to calculate the monthly payment for a 15-year fixed loan at an…

Q: Suppose you are borrowing $25,000 and makingmonthly payments with 1% interest. Show that themonthly…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: Ocean water contains 0.9 ounce of gold per ton. Method A costs $230 per ton of water processes and…

A: The method should be selected for extracting gold that will provide higher profit from the gold…

Q: A loan is offered with monthly payments and a 14.25 percent APR. What’s the loan’s effective annual…

A: Annual rate (r) = 0.1425 or 14.25% Number of compounding (n) = 12 EAR = ?

Q: You got a loan today of $10,000 for 3 years, annual interest rate is 6%. The annual payment is…

A: Annual Payment of Loan: It is the periodic payment of a loan including interest for a pre-defined…

Q: A demand loan for $8945.17 with interest at 9.8% compounded semi-annually is repaid after 6 years,…

A:

Q: Assume that you take out a $7000 loan for 46 months at 7.5% APR. How much total interest will you…

A: Loan: It is the amount of money borrowed from a person or bank or company for a certain period…

Q: You borrow $2600 at 6% APR to purchase a computer. You plan to make monthly payments of $28.86 until…

A: The amortization table is a presentation method of installment payments, interest amount…

Q: Melvin availed a loan from a bank that gave him an option to pay Php 14,600 monthly for 2 years. Th-…

A: Present value of all monthly payments considering the interest rate and period of payment would give…

Q: Calculate the total payoff amount if you tripled the original $30 monthly payment to $90 per month.…

A: Total Payoff is the amount given including the principal and interest amount. It considers the…

Q: You're prepared to make monthly payments of $360, beginning at the end of this month, into an…

A: Given:FV = $25,390P = $360r (monthly interest rate)n=12 (compounded monthly)

Q: Calculate the total payoff if just making a $30 payment. (number of months x monthly payment…

A: Total Debt = $1,000 Monthly Payment = $30 Total Months to Payoff =42 Interest Rate = 12.99%

Q: For the following loan, make a table showing the amount of each monthly payment that goes toward…

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

Q: $10,800 is borrowed for 9 years. If the interest on the loan is $5,832, find the monthly payment.…

A: Loans are paid by equal payments that carry payment for interest rate and payment of original loan…

Q: What is the monthly payment on a loan of $5,000 at APR = 6% for 4 years.

A: Loan amount (LV) = $5000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Period = 4…

Q: One of your customers has just made a purchase in the amount of $26,400. You have agreed to payments…

A: A loan is a debt amount borrowed by one person from another person at a predetermined financial…

Q: How many months will it take you to pay off a loan of $17,000 at 7% APR compounded monthly if you…

A: The loan is taken in order to finance the purchase of the asset or for the purpose of expansion. The…

Q: You take out a $7,400 car loan that calls for 36 monthly payments starting after 1 month at an APR…

A: It is a case of amortization of a car loan that is to be repaid in 3 years as a monthly payment or…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $3600, r = 5.3%, t = 6 months

A: The effective annual rate of interest is the actual or the real rate of interest paid or received…

Q: If you owe $1,000 on a credit card with 12% interest (monthly compounding) and make payments of…

A: To calculate the number of months it will take to pay off the credit card debt, we can use the…

Q: W WA Finance 2-Borrowing Money and Pa Assume that you take out a $4000 loan for 30 months at 8.5%…

A: Given,  The loan amount is $4000 Rate is 8.5% Term is 30 months

Q: onsider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using…

A: Equated Monthly Installments are one part of the equally divided monthly outgoes to clear off an…

Q: Assume that you take out a $3000 loan for 47 months at 6.5% APR. How much total interest will you…

A: Loan amount = $ 3000 Period = 47 Months APR = 6.5%   To Find: Total Interest paid

Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 3 years

A: Compound interest is the interest on a loan or deposit calculated based on both the initial…

Q: deposit $1,000 in an account that earns an APR of 5% compounded once per year a) How long will it…

A: Future value of the amount includes the amount of deposit done and amount of compounded interest…

Q: You borrow $5000 now and agree to pay this whole amount back in three payments Poyment 1. SX in 2…

A: Discounting of money is the process of determining the present value of future cash flows. The…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $2250, r = 4.00% monthly, t =…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: Assume that you take out a $2000 loan for 53 months at 5.5% APR. How much total interest will you…

A: Total interest paid = Future amount payable - Loan amount Amount payable for the loan borrowed is…

Q: Assume you take out a $3000 loan, compounded monthly, for 2 and a half years at 8.5% APR. What is…

A: Interest The cost of borrowing an amount is called interest. Interest is paid on a regular basis at…

Q: Imagine a loan of $420,000. The loan is to be repaid in six years (i.e., last payment at the end of…

A: Present Value of Loan (PV) = $420,000Number of compounding periods (n) = 12 × 6 months = 72…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $9080, r = 5.25%, t = 4 months

A: Simple interest means that the borrower only needs to calculate interest each year on the principal…

Q: Monthly payment of loan b, rounded to the nearest cent

A: Monthly payment for the loan is the amount paid for loan over a time.

Q: You are looking to buy a car and you have been offered a loan with an APR of 5.7%, compounded…

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

Q: What amortization payment (in $) would you need to make each month at 12% interest compounded…

A: MONTHLY PAYMENT (PMT) FORMULA: PMT=P×rm1-1+rm-m×n P=principal  r=rate of interest m=frequency of…

Q: Suppose you take out a loan for $7,000, at 12% ordinary interest. If the amount of interest is $672,…

A: Principal Amount = p = $7000 Interest rate = r =  12% Interest amount = i = $672

Q: Suppose your car loan for 36 months has a monthly payment of $425. Immediately after the 30th…

A: Effective Annual Rate: The effective annual rate of interest is the actual or the real rate of…