Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days.Rate (%)Principal$185,000%Time2 yearsInterest$24,050

Principal Amount = p = $185,000 Time = t = 2 years Interest amount = i = $24,050

Answered: Compute the rate (in %) for the loan.…

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

See similar textbooks

Similar questions

Find the amount (in $) of interest and the maturity value of the loans. Use the formula MV = P + I to find the maturity value. (Round your answers to two decimal places.) Principal Rate (%) Maturity Value $145,000 15-/1/2 Time 8 months $ Interest $
You have taken out a loan of $11,000.00 for 4 years at an APR of 4.6% (loans are always compounded and paid back monthly). Fill in the table below showing the first lines of the Armotization Table for this loan rounding all answers to the closest cent (i.e. to 2 decimal places): Payment number Payment amount Principal Amount Interest Balance 0) $11,000.00 1) $ $ $ 2) same as above $ $ 3) same as above $ $ Submit Question
Find the amount (in $) of interest on the loan. Principal Rate (%) $70,000 m/+ 3 5- 4 Time 9 months $ Interest
Using the ordinary interest method, find the amount of interest on a loan of $5,000 at 12 % interest, for 274 days. (Round to the nearest cent.) 2 O $380.56 O$469.18 O $475.69 O $575.00
Compute the size of the final payment for the following loan. Periodic Payment Interval Payment Made At: end Conversion Principal $18,000 Payment $1,816 Interest Rate Period 3 months 5% quarterly
Compute the size of the final payment for the following loan. Periodic Principal $ Payment $ 9900 (540 Payment Payment Interest Rate Compounding Period Period Made at: 1 month beginning monthly % 9 The size of the final payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Using the ordinary interest method, find the amount of interest on a loan of $11,000 at 11 % interest, for 130 days. $4
Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $35,000 for 1 year at 12% compounded quarterly Period Payment Interest Balance Reduction Unpaid Balance $35,000 %24 24 24 $0.00 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 2. 3. 4-
Loan from a bank at a discount basis 8% which also requires a compensating balance equivalent to 7% of the loan. Compute the annual interest rate. (Use 4 decimal places in your computation)
Find the loan principal. Use banker's interest with 360 days. Time (Days) 200 Rate Interest Principal 10% $11.10 The loan principal is S (Round to the nearest cent as needed)
Find the amount (in $) of interest on the loan. Principal Rate (%) $90,000 7 Time 1 2 years $ Interest
Complete the first three lines of an amortization schedule for the following loan. Assume monthly payments. amount, $6000; rate, 9%; time, eighteen months Fill out the amortization schedule below, assume monthly payments and round all values to the nearest cent. Payment Amount of Interest Applied to Number Payment Payment Principal 2 3 $ $ $ Balance $6000 $ $

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Principal $185,000 Rate (%) % Time 2 years Interest $24,050