each month for 2n mc Lrengid Find n
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![20.
A loan charges nominal interest at a rate i12) = 0.24. The loan is repaid with
equal payments at the end of each month for 2n months. The nth payment is equally divided
between interest and principal repaid. Find n.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa4e23d50-b6e1-4880-9ad9-a789799b751b%2F64fbe6ad-8ca9-4c9b-932c-7e0d6e8ab641%2Fz1s0ih5_processed.png&w=3840&q=75)
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- The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r. P = $2300, A = $2722, t = 6 months.A loan is to be amortized by n level annual payments of X where n > 5. You are given (1) The amount of interest in the first payment is 604.00 (2) The amount of interest in the third payment is 593.75 (3) The amount of interest in the fifth payment is 582.45 Calculate X.Use MV=P(1+RT) to find the maturity value (in$) of the loan. principal: $730,000 rate: 13.35% time: 7 months
- 3. a) Calculate the interest rate applied in a loan of P1000 with repayment of P1100 and duration of 10 months. b) What is the monthly interest, daily interest, equivalent to the yearly interest found in a)?24. Which of the following is the base unit of time over which an interest rate is calculated? Interest Period Discount Rate Compounding Period Compounding Rate 25. Simple interest of P1,235 is owed on a loan of P9,500 after four years and four months. What is the annual interest rate? 2% 2.5% 3.5% 3%The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r. P = $4600.00, A = $4795.50, t = 6 months % (Round to the nearest tenth of a percent as needed.)
- The principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future value, A, or the total amount due at time t. Round answer to the nearest cent. P=$900, r=6%, t=2 months4. Use MV = P(1 + RT) to find the maturity value (in $) of the loan. Principal Rate (%) Time Maturity Value $870,000 13.35 7 months $The principal P is borrowed and the loan's future value A at timet is given. Determine the loan's simple interest rate r to the nearest tenth of a percent. P = $3400.00, A = $3446.75, t = 3 months % (Round to the nearest tenth of a percent.)
- 10) Compute the simple interest and final amount of each loan Principal Rate Time P 400 7% 1 year P 640 9% 3 months P 985 10% 180 days (ordinary time period) 60 days (exact time period) P 850 6% ABCD Interest ? ? ? ? Final amount ? ? ? ?Compare the annual percentage yield (APY) of loan A, with nominal interest rate 10% and quarterly compounding to loan B, which has nominal interest rate 12% and daily compounding. Round answers to one decimal place. APY Loan A: APY Loan B: I %The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r to the nearest tenth of a percent. P = $1800.00, A = $1876.50, t = 6 months % (Round to the nearest tenth of a percent.)
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