Business loan The owner of a small business decides to fi- nance a new computer by borrowing $3000 for 2 years at an interest rate of 7.5%. (a) Find the monthly payment. (b) Find the total interest paid on the loan.

Simple Interest: Solve for the following

A friend asks to borrow $48 from you and return will pay you $51 in one year. If your bank is offering a 6.5% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $48 instead? b. How much money could you borrow today if you pay the bank $51 in one year? c. Should you loan the money to your friend or deposit it in the bank? D

1. Consider a home mortgage of ​$150,000 at a fixed APR of 4.5​% for 25 years.   a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount​ paid, what percentage is paid toward the principal and what percentage is paid for interest.     2. Someone needs to borrow ​$11,000 to buy a car and the person has determined that monthly payments of ​$225 are affordable. The bank offers a 3​-year loan at 7​% ​APR, a 4​-year loan at 7.5​%, or a 5​-year loan at 8​% APR. Which loan best meets the​ person's needs? Explain.       Question content area bottom Part 1 Which loan best meets the​ person's needs? ​(Round to the nearest cent as​ needed.)   A. The first loan best meets the​ person's needs because the monthly payment of ​$enter your response here is less than the maximum budgeted amount of ​$225 per month.   B. The second loan best meets the​ person's needs because the monthly payment of ​$enter your response here…

I’m order to start a small business, a student takes out a simple interest loan for 8000 for 3 months at a rate of 9.00%. How much interest must the student pay? Find the future value of the loan

PA Use PMT= to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $217,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is financed with a 30-year fixed-rate mortgage at 7%. Complete parts (a) through (e) below. a. Find the required down payment. $ b. Find the amount of the mortgage. c. How much must be paid for the three points at closing? S (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). S (Round to the nearest dollar as needed.) e. Find the total cost of interest over 30 years. (Round to the nearest dollar as needed.)

A bank offers a home buyer a 25-year loan at 7% per year. If the home buyer borrows $150,000 from the bank, how much must be repaid every year? A. $15,445.90 B. $12,871.58 C. $20,594.53 D. $18,020.21

A friend asks to borrow $53.00 from you and in return will pay you $56.00 in one year. If your bank is offering a 5.7% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $53.00 instead? b. How much money could you borrow today if you pay the bank $56.00 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How much would you have in one year if you deposited the $53.00 instead? If you deposit the $53.00 in the bank today, you will have $ in one year. (Round to the nearest cent.)

1. Betty Thomas borrowed $6500 onher Visa card to install a hot tub with landscaping around it. The interest charges are 1.6% per month on the unpaid balance a) Find the monthly interest charges. b) Find the interest charges if she moves the debt to a credit card charging 1% per month on the unpaid balance. (c) Find the monthly savings.

A friend asks to borrow $45 from you and in return will pay you $48 in one year. If your bank is offering a 5.7% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $45 instead? b. How much money could you borrow today if you pay the bank $48 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How much would you have in one year if you deposited the $45 instead? If you deposit the money in the bank today you will have in one year. (Round to the nearest cent.) b. How much money could you borrow today if you pay the bank $48 in one year? You will be able to borrow $ today. (Round to the nearest cent.) c. Should you loan the money to your friend or deposit it in the bank? (Select from the drop-down menu.) From a financial perspective, you should as it will result in more money for you at the end of the year.