A loan of 500,000 is repaid with 12n equal end of month payments of X. The total amount of principal paid in the nth year is 51308. 042 53. The nominal rate of interest is 3.96% convertible monthly. Find the total interest paid during the life of the loan.

Q: Mr. Cruz obtained a 16-year mortgage for 3565284. If this monthly payment is 23125 how much is the…

A: Given:- Principal amount=$3565284 Monthly payment=$23125 Time=16 years To find: the total interest.…

Q: Assume a 6 month CD purchase for 5,000 pays simple interest at an annual rate of 9.5. How much…

A:

Q: The annual effective rate is 5%.An annuity is paid continuously at a rate of P pounds per month.Its…

A:

Q: Prinicpal                13,800 Rate %                  9.4 Time                      3 3/4…

A:

Q: Pak Harun has to repay the loan along with interest after 3 years of Rp 15,218,901.53. Determine the…

A: Ggggg

Q: A mortgage of £160,000 is repaid over 20 years by equal monthly payments in arrears. The interest…

A: Given: Mortgage amount is £160,000. Time period is 20 years. Interest rate is 8.5% p.a. To Find: The…

Q: alculate the no. of interest period ( n ) when the principal amount is P 1500.00 is invested at the…

A: Using simple interest formula

Q: Find the principal amount for the rare of interest 10% p.a.time 3 years and compound interest earned…

A:

Q: Find the total interest paid of the loan if the amount borrowed is OMR 25,000 at 5% interest for 8…

A: I am using Simple Interest formula for this. S.I.=(25,000*5*8)/100 S.I.=OMR 10,000

Q: What is the monthly mortgage constant on a 20-year mortgage loan of $75,000 requiring payments of…

A: Note;- These are multiple questions according to guideline we can do maximum 1 question so i am…

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: the monthly loan payment is 218.65 suppose you receive a 10 year unsubsidized student loan of 19,000…

A:

Q: If a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much should…

A: Given: The value of r is 9%

Q: he total cost, find the down payment. C. Assuming that Mary finances the remaining cost

A: a. The sales tax is determined as, S=0.0725×9500=$688.75. The total cost is the sum of purchase…

Q: Find ordinary and exact interest on P10 800 for five days at 8% simple interest

A: We need to find Ordinary and exact interest rate. We have given that , P = 10800 r = 8 % = 8100 =…

Q: Marisa wishes to accumulate 20,000 by means of monthly deposits of 800 into a fund at the end of…

A: Here payments are done more frequently than the frequency of compounding so we need to first…

Q: Calculate the value gained from depositing 12 regular installments into a bank, as the amount of…

A: S = P × (([1 + i]n – 1) / i) × (1 + i). Here, S is the final amount of maturity. P is the amount…

Q: 4. Maryam has $6800 in a daily-interest savings account. The account pays an annual interest rate of…

A:

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Engr. Velasco decided to subscribe in a globe promo which must be paid P 4,278 per month for five…

A: Engr. Velasco decided to subscribe in a globe promo which must be paid 4,278 per month for five…

Q: The account in the Indian bank pays a nominal annual interest rate of 5.2 % compounded monthly.…

A: Since you have not provided the amount of investment  in the question. So, we are considering it as…

Q: The principal P is borrowed at a simple interest rate r for a period of time t. Find the​ loan's…

A: Given problem Given that   The principal P is borrowed at a simple interest rate r for a period of…

Q: Calculate the simple intrest for $2400 borrowed for 2 years at 4% per annum

A:

Q: A loan of P100,000 has been issued for 5 years. Compute for the amount to be repaid to the lender if…

A:

Q: Find the interest due on $1,400 at 9% for 270 days

A:

Q: A loan of P95,000 is borrowed for 240 days at a simple interest rate of 12.3 percent per year. What…

A:

Q: accumulate 70,000 for 2 years and 9 months at 2 3/4% simple interest

A:

Q: 85,000 is deposited in a saving account with 6.35% annual interest. When will be the initial sum…

A: To solve this problem, we can use the formula for compound interest:

Q: A local university received a $500,000.00 gift to establish an endowment fund for a student…

A: Answer:- value of the fund 56 years from now = 500,000 *[(1+0.02/2)^(2*8) ]=586289.322462…

Q: The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's…

A:

Q: For 10 years with total payments of $ 10000 per year, calculate the total amount accumulated after…

A: Consider the given information. Total payment per year. P=$10,000 Time period is defined as, n= 10…

Q: if a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much should…

A:

Q: Q6#: A loan of Rs. 94 is to be paid back in monthly instalments the first one starting after one…

A:

Q: Dylan and Liz multiply 48,292.72 by 4 to make a total savings goal for college. If they want to have…

A:

Q: How much is the cash value of the car if the interest used is 12% monthly?

A: Given:monthly payment =17,000 Interest rate=12% Formula used: PV annuity=P×1-1+I-nI

Q: Lashonda takes out a loan for her college tuition from a bank that charges simple interest at an…

A: using,   simple  interest = p×r×t where, p= principal              r= rate%             t= time .

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

A: