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: The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple…

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

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

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

A: Given:To find: Simple interest rate .

Q: A business must pay an annuity of $ 20,000 quarterly with j4 = 5%. Calculate the semester payment to…

A:

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

A: Given information P=​$6000​, r=7.0​%,t=6 months

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…

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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 principalP is borrowed and the loan's future value A at time t is given. Determine the loan's…

A: Here we will find out the required value of simple rate of interest.

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

A:

Q: A man borrows GH¢12,000.00 from the bank at 15% per annum for 3 years. Determine the sum of each…

A: Given A man borrows GH¢12,000.00 from the bank at 15% per annum for 3 years. To Determine the sum of…

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: 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…

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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: Liza borrows 15,000Php for 3 years and agrees to pay 6 % compound interest for this period. What…

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Q: The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple…

A:

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

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Q: RM10 000 is invested for 4 years in a bank earning a simple interest rate of 10% per annum.Find the…

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

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

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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 .