Find the exact interest on a loan of 57,000, borrowed at 9.4%,made on Feb 13, and due on June 30. Use 365 days in a year and use the exact number of days in a month, with February having 28. Round to the nearest cent.
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made on Feb 13, and due on June 30. Use 365 days in a year and use the exact number of days in a month, with February having 28. Round to the nearest cent.
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- Find the annual simple interest rate of a loan, where $300 is borrowed and where $315 is repaid at the end of 15 months.Annual simple interest rate = %.Find the annual simple interest rate of a loan, where $800 is borrowed and where $904 is repaid at the end of 14 months.Find the annual simple interest rate of a loan, where $800 is borrowed and where $888 is repaid at the end of 4 months. Annual simple interest rate = %.
- Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 3% and with $517.5 repaid at the end of the loan.Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $8,000 installment loan to be repaid in 48 monthly installments of $211.10? Round the answer to 4 decimal places. % per month What is the APR on this loan? Round the answer to 2 decimal places. %Assume that interest is the only finance charge. Use financial calculator to answer the questions.How much interest would be paid on a $8,000 installment loan to be repaid in 48 monthly installments of $210.72? Round the answer to 4 decimal places. % per monthWhat is the APR on this loan? Round the answer to 2 decimal places. %
- Find the annual simple interest rate of a loan, where $900 is borrowed and where $1008 is repaid at the end of 18 months. Annual simple interest rate = %. Preview My Answers Submit AnswersFind the interest rates earned on each of the following. Round your answers to the nearest whole number. You borrow $680 and promise to pay back $782 at the end of 1 year. %Using the simple interest method, find the monthly payments on a $5,500 installment loan if the funds are borrowed for 30 months at an annual interest rate of 14% Use financial calculator to answer the question. Round the answer to the nearest cent. per month
- You take a small business (SBA) loan for $90,000. The current annual interest rate on SBA loans is 6%. What is the interest amount and maturity value at the end of year one? What is the interest and maturity value at the end of 18 months?A car loan of $37,412.98 is to be repaid with end-of-month payments of $725.06. If interest is 5% compounded monthly,how long is the term of the loan? State your answer in years and months (from 0 to 11 months).A loan is repaid with payments of $2560 made at the end of each month for 13 years. If interest on the loan is 14.5%, compounded semi-annually, what is the initial value of the loan? Enter to the nearest cent (two decimals). Do not use $ signs or commas. Answer: NEXT PAGE