Dave borrowed $730 on January 1, 2019. The bank charged him a $4.00 service charge and interest was $54.40. If Dave paid the $730 in 12 equal monthly payments, what was the APR? (Enter your answer as a percent rounded to 1 decimal place.) Annual percentage rate %
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- Dave borrowed $550 on January 1, 2022, and paid it all back at once on December 31, 2022. The bank charged him a $3.50 service charge, and interest was $40.70. What was the APR? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Annual percentage rate %Dave borrowed $1,300 on January 1, 2022. The bank charged him a $5.00 service charge, and interest was $78.20. If Dave paid the $1,300 in 12 equal monthly payments, what was the APR?Joshua borrowed $1,400 for one year and paid $70 in interest. The bank charged him a service charge of $12. If Joshua repaid the loan in 12 equal monthly payments, what is the APR? (Enter your answer as a percent rounded to 1 decimal place.) APR
- Gabe opened an RRSP deposit account on December 1, 2008, with a deposit of $2000. He added $2000 on November 1, 2010, and $2000 on April 1, 2012. How much is in his account on August 1, 2016, if the deposit earns 8.3% p.a. compounded monthly?Joel borrowed $2776.55 on November 2, 2021 at 4.5% p.a. How many days would it take for him to re-pay the loan if he made a payment of $3466.76? Round up to nearest day.Chen opened an RRSP deposit account on December 1, 2008, with a deposit of $2000. He added $2000 on November 1, 2010, and $2000 on June 1, 2012. How much is in his account on October 1, 2016, if the deposit earns 5.9% p.a. compounded monthly?
- Haatimvopened an RRSP deposit account on December 1, 2008, with a deposit of $1400. He added $1400 on September 1, 2010, and $1400 on March 1, 2012. How much is in his account on April 1, 2016, if the deposit earns 6.3% p.a. compounded monthly? The amount in the account is?You deposit 500 in an account on January 1, 2003. Interest is credited each year on December 31, at a rate of 4% on the first 1000 in the account on January 1 of that year and 5% of any excess over 1000. Just after interest is credited on December 31, 2032, X is in the account. Calculate X.Joshua borrowed $500 for one year and paid $50 in interest. The bank charged him a service charge of $5. If Joshua repaid the loan in 12 equal monthly payments, what is the APR? (Enter your answer as a percent rounded to 1 decimal place.)
- On April 5, 2019, Janeen Camoct took out an 8.5% loan for $20,000. The loan is due March 9, 2020. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2020? (Ignore leap year.) Required: What are the number of days between the two dates listed below? Note: Use the DATEDIF or DAYS function to calculate the number of days. 4/5/2019 3/9/2020 What is your principal? Note: Answer should be entered as a numeric value and not a formula. What is your rate? Note: Answer should be entered as a numeric value and not a formula. What is the time? What total amount will Janeen pay on March 9, 2020?The following information appears on your most recent credit card bill: Statement Date 03/1/2019 Previous Balance 154.32 Previous Payment 154.32 New Balance $145.79 Annual Percentage Rate 15.50% a) Find the periodic rate. (Round to 2 decimal places) b )How much interest will you pay on this statement.(Note :You paid off your entire balance last month.) c)If you make a payment of $50, what will your balance be after your payment (Before your next statement (04/1/2019))Your father offers to give you $400 on January 1, 2019. You will then make six additional equal payments each 6 months from July 2019 through January 2022. If your bank pays 8% compounded semiannually, how large must each payment be for you to end up with $1,000 on January 1, 2022? What is the Effective Annual Rate (EAR) earned on the bank account in part f? What is the Nominal Interest Rate or Annual Percentage Rate (APR) earned on the account?