Find the APR (true annual interest rate), to the nearest half percent, for the following loan. Amount Financed Finance Charge $1032 Number of Monthly Payments 48 $5300
Q: Find the maturity value FV of the given loan amount. (Round your answer to the nearest cent.)…
A: Future value = Present value ( 1 +Rate of interest )number of years
Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…
A: in this we have to calculate financial charges and we have to use given table.
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Q: Find the APR(true annual interest rate) to the nearest half percent for the following loan.Use the…
A: Annual Percentage Rate = Finance Charge / Amount Financed
Q: I would appreciate it If you could also explain how to plug this into a financial calculator
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Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…
A: Finance Charges =Total Payments - Amount financed
Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: Using excel RATE function
Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…
A: Ordinary interest for a loan is a type of simple interest that uses 360 days instead of 365 days as…
Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…
A: The finance charge is the charge which is paid by the borrower on the amount he borrowed is called…
Q: EZ Pay Loans will lend you $100 today with repayment of $117.50 due in 1 month. Determine the…
A: Given Information : Present Value of loan : $ 100 Future Value : $ 117.50 Time : 1 month
Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…
A: When a loan is repaid through equally monthly payment, the monthly payment includes interest and…
Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…
A: Using excel Rate function
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: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: Finance Charge is the total interest paid during the time period of the project. Finance charge is…
Q: Find the APR (true annual interest rate), to the nearest half percent, for the following loan.…
A: APR FORMULA: APR =interestprincipaln×365×100 where, n = no of term of loan in days
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: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…
A: The given problem can be solved using PMT function in excel. PMT function computes installment…
Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…
A: Annual percentage rate: It is the annual rate charged on borrowed money.
Q: Find the APR (true annual interest rate), to the nearest half percent, for the following loan.…
A: formula for APR: APR=interestprincipaln×365×100 where, n = no of days in loan term
Q: Questions 1 and 2 use the following information: A loan of $30451 requires payments of $7751 made at…
A: Given: Loan = $30,451 Interest rate =5.74% Payment = $7,751
Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: The annual interest rate that is charged by the lenders or at which the investors earn additional…
Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: The annual interest rate that is charged by the lenders or at which the investors earn additional…
Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: Using excel Rate function
Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…
A: AMOUNT FINANCED = $17.910 NO OF PAYMENT = 48 MONTHLY PAYMENT = $550.47 TOTAL PAYMENT = $550.47 x 48…
Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: Given: Amount Financed - $18,500 Number of payments Payment = 72 Monthly payment = $426.08 APR = ?
Q: A loan's nominal interest rate is 16%, APR. If the loan is payable monthly, the effective interest…
A: Effective annual interest rate is simply an effective rate of interest earned on any loan or…
Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: given data amount financed = $18400 time period = 72 payments monthly payment = 426.08
Q: "If you borrow $9,725 and are required to repay the loan in five equal annual installments of…
A: Using financial calculator
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A: The borrowers get charged an annual rate of interest known as the Annual percentage rate (APR) which…
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: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…
A: Finance charge is an extra payment paid on borrowed amount for the period. It is the expense and…
Q: alculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…
A: The given problem can be solved using PMT function in excel. PMT function computes installment…
Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: Rate can be calculated using Rate function in excel. =RATE(nper, pmt, pv, [fv], [type], [guess])…
Q: alculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: Therefore, the finance charge is $12,334.
Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: Amount Financed = $ 18,400 Number of Payments (n) = 72 Monthly Installment = $ 426.08 Interest Rate…
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: SOLVE FOR THE FOLLOWING: Finance Charge = $ Finance Charge per $100 = APR =________________ %
A: in this we have to calculate financial charges after deductions of principal amount payment.
Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…
A: Amount financed. $17950 No of payments = 48 Monthly payments =$561.47 Total Payments for 48…
Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…
A: Annual percentage rate is the interest rate charged annually on the loan amount by the lender and…
Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…
A: Solution : Formulae Formulae as above...
Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…
A: The annual interest rate that is charged by the lenders or at which the investors earn additional…
Q: Given the annual interest rate and a line of an amortization schedule for that loan, complete the…
A: A loan amortization table is a schedule of loan repayment which includes all the bifurcation of…
Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…
A: Monthly Payment is equal to the sum of Amount Financed and Finance Charge divided by the number of…
Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…
A: Installment is the amount of periodic payments a borrower makes to its lender in order to pay back…
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- Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $700 18 16% $ $ $Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table. (Round dollar amounts to the nearest cent.) AmountFinanced Number ofPayments MonthlyPayment FinanceCharge Finance Chargeper $100 APR $17,950 48 $551.47 $ $ %Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $700 18 17% $
- Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and percentages to one decimal place.) AmountFinanced Number ofPayments MonthlyPayment FinanceCharge APR $18,300 72 $424.08 $ %Find the APR (true annual interest rate), to the nearest 0.01%, for the loan given below. Purchase Price Down Payment Add-On Interest Rate Number of Payments $4280 $350 2.8% 12 The APR for the loan amount is?Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) AmountFinanced Number ofPayments MonthlyPayment FinanceCharge Finance Chargeper $100 APR $17,910 48 $550.47 $ $ %
- Note: Round all answers to the nearest cent when necessary. Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for the following installment loan. Purchase(Cash)Price DownPayment AmountFinanced MonthlyPayment Number ofPayments FinanceCharge TotalDeferredPaymentPrice $2,800 0 185.69 18Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and percentages to one decimal place.) Number of Monthly Payment Amount Finance APR Financed Payments Charge $18,400 72 $426.08 $ 12277.76 18.6 X %Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for the following installment loan. Purchase(Cash)Price DownPayment AmountFinanced MonthlyPayment Number ofPayments FinanceCharge TotalDeferredPaymentPrice $2,600 0 $ $180.69 18 $ $