Find the annual percentage rate using the annual percentage rate table. Here are some conditions of the loan. amount financed: $11500  finance charge: $2875  number of monthly payments: 42

Q: Determine the dollar settlement of the 3 x 6 FRA for the amount $300,000 assuming (a) the settlement…

A: A loan is a type of financial agreement whereby a lender gives a borrower a certain amount of money,…

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

A: A loan is a sum of money that one or more individuals, businesses, or other organisations acquire…

Q: Consider a $230,000 home mortgage in which the payment per month is $945.38 for a thirty-year…

A: A Loan refers to the amount of money taken by one party named borrower from the other party named…

Q: calculate total loan costs on a 7.5%, $145,000, 25-year mortgage loan with 1/2% origination fee, 3/4…

A:

Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…

A: We will use the future value calculator with given variables to find out the required information…

Q: Using this table as needed, calculate the required information for the mortgage. Number Table…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: Find the total installment cost and the finance charge for an installment loan with these…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

A: A loan refers to a contract between two parties where money is forwarded by one party to the other…

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

A: Here, Amount Financed = $240,000 Interest rate = 7.50% Term of loan = 25 years Annual Property tax =…

Q: Use the actuarial method to find the payoff amount for the loan paid in full before its due date.…

A: The method which is derived for calculating the amount of allocation between the principal amount…

Q: Find the APR (true annual interest rate), to the nearest half percent, for the following loan.…

A: The Annual Percentage Rate (APR) represents the yearly cost of borrowing money through loans or…

Q: The simple interest charged on an 8-month loan of $95,000 is $974. Find the simple interest rate.…

A: Simple interest = Amount*Rate*time in years

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: The simple interest charged on a 11-month loan of $54,000 is $732. Find the simple interest rate.…

A: simple interest can be given by the formula: I=P×R×T100

Q: Find the following. (Round your answers to the nearest cent.) Finance Charge   Number of Payments…

A: Finance charge is an additional amount which is paid on borrowed amount. It is expenses for the…

Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…

A: APR stands for Annual Percentage Rate. It is a measure of the cost of credit, expressed as a yearly…

Q: Using this table as needed, calculate the required information for the mortgage. Number Table…

A: Total interest of loan is equal to total PMTs made less the original principal.

Q: Loan term   in years   Monthly Payment on $178,000 loan (in $) Total amount paid back over the…

A: Please note under answering guidelines only up to 3 subparts can be answered. The table is completed…

Q: Use the exact interest method (365 days) and the ordinary interest method (360 days) to compare the…

A: Exact interest: Interest = Principal * Interest rate Interest = $136,000*7.30%*64/365 Interest =…

Q: Using this table as needed, calculate the required information for the mortgage. Amount Financed…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Interest is $405 on a principal balance of $5,000; assuming a 7 month loan what is the rate

A: We can determine the annual interest rate by rearranging the simple interest formula below:In the…

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

A: Amount Financed = 260,000 Interest Rate = 9.50% Term of Loan (years) = 25 Annual Property Tax =…

Q: Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $70,000 8…

A: Interest Amount = Principal * Interest rate * Number of months / 12

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

A: Here, Amount Financed (PV) is $280,000 Interest Rate (Rate) is 3.50% Term of Loan (Nper) in years is…

Q: Terms of the loan a. Amount of the loan b. Length of the loan (in years) c. Monthly payment Total…

A: Loans are paid by equal monthly payments that carry the payment for interest and payment for loan…

Q: Investigate the effect of the interest rate on simple interest amortized auto loans by finding the…

A: Compound = monthly = 12 Time = 4 * 12 = 48 Present value = pv = $15,000

Q: Calculate the amount financed, the finance charge, and the total deferred payment price for the…

A: 1. Amount financed = $2,800 As the down payment is 0%.

Q: Calculate the table factor, the finance charge, and the monthly payment (

A: The value incurred for borrowing cash is known as finance charge. It includes interests and other…

Effective Interest Rate

The term interest rate can be defined as the amount that is charged by the lender as a percentage on the principal amount. Interest rate which is charged annually is known as annual percentage rate.