Find the amount (in $) of interest on the loan. Principal $90,000 Rate (%) m/+ Time 9 months LA Interest

Q: Principal Rate (%) Time Interest $50,000 8 3/4 3   6 months

A: In contrasts to a fee that the borrower may pay the lender or another party, interest is a payment…

Q: Find the amount due if $200 is borrowed for 4 months at 17% simple interest

A: Amount due refers to the net amount that needs to be either paid by the borrower to the lender or to…

Q: What is the monthly interest expense for the following open-end credit loan? Loan balance of…

A: The open ended credit loan you have to pay interest on balance amount used and calculation are done…

Q: Given the annual interest rate and a line of an amortization schedule for that​ loan, complete the…

A: Annual interest rate = 5.4% Monthly interest rate = 5.4%/12 = 0.45% Closing balance = $ 4,464.20…

Q: Identify the items that appear on an Income Statement. cash balance revenues product purchases cost…

A: Income statement is a financial statement that indicates the financial performance of company for a…

Q: Installment Loan How much of the first payment for the installment loan 18% shown in the table will…

A: Data given:: Principal = $2000.00 n= 2 years Interest rate = 18% p.a.   Working Note # 1 Period =2…

Q: A design studio purchase a camera. If they settled the loan in 2 years by making quarterly payments,…

A: Loans are to paid by the periodic payments that carry the payment for loans and payment for interest…

Q: Prepare an amortization schedule for the first 2 payments of a $99,000 mortgage at 3% for 20 years.…

A: The question is based on the concept of Financial Accounting.

Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…

A: Loan amount (L) = $13000 Number of payments (n) = 36 Monthly payment (M) = $454 Let r = Monthly rate

Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

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

Q: A student has a total of $3,000.00 in student loans that will be paid with a 48-month installment…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: 15. Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days.…

A: The principal amount can be calculated with the help of simple interest function

Q: Find the simple interest earned. $420 principal, 9% exact, 90 days

A: Simple interest is the method of calculating interest in which the principal amount remains the same…

Q: Find the principal Rate: 7 and 1/2 Time: 150 days Interest:$500 The principal is ?

A: compound interest = Principal * [(1+r)^n - 1] Where,  r = rate of interest i.e. 7 and 1/2 or 7.5%  n…

Q: Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days.…

A: Principal amount The actual amount borrowed by the borrower or lent by the financial institution is…

Q: Find the amount due if $800 is borrowed for 18 months at 18% simple interest.

A: Amount borrowed (P) = $800 Period (n) = 18 months Interest rate (r) =0.18 Amount due = ?

Q: Phil Pittman is interested in a fixed-rate mortgage for $300,000. He is undecided whether to choose…

A: The company is considering the mortgage value in case of requirement of loans. The mortgage value…

Q: onsider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using…

A: Equated Monthly Installments are one part of the equally divided monthly outgoes to clear off an…

Q: Michael Sanchez purchased a condominium for $94,000. He made a 20% down payment and financed the…

A: (a) Debt = $94,000×80%=$75,200 Period = 30 years Rate = 5% Monthly payment (using the table given) =…

Q: In order to buy a vacation home, Neal and Lilly took out a 30-year mortgage for $250,000 at an…

A: A mortgage refers to a covered loan borrowed for purchasing real estate. The real estate itself acts…

Q: Borrowed $5,000 at a simple interest rate of 10% p.a. and charged interest of $600. What is the time…

A: Principal Amount(P) =$5000 Interest rate(r) = 10% Interest Amount(I) = $600 Time Period =t As per…

Q: You are told that a note has repayment terms of $900 per quarter for 6 years, with a stated interest…

A: The principal value of a loan is the amount that is the basis for the interest computation whether…

Q: Amount of mortgage Annual interest rate Years in mortgage Monthly payment ​$86,000 6.00​% 25…

A: A borrower is required to pay the lender the interest and the original amount by paying regular…

Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…

A: amount financed = $50,000 no of payment  = 60 monthly payment = $1,176.33 total payment = 60 x…

Q: Given the annual interest rate and a line of an amortization schedule for that loan, complete the…

A: Solution:- When a loan is taken, it can either be repaid as a lump sum payment or in installments.…

Q: Using this table as needed, calculate the required information for the mortgage. (Round dollars to…

A: The time value of money concept is the most important concept that states that the value of money in…