Find the simple interest paid on a $510 loan at 7.8% annual interest for 19 months.

Q: Find the annual simple interest rate of a loan, where $800 is borrowed and where $888 is repaid at…

A: Given information: Principal (P) = $800 Amount repaid (A) = $888 Time in year (t) = (4 / 12) =…

Q: Find the refund fraction on a 30-month loan with interest of $2,802 if the loan is paid in full with…

A: Refund fraction is the amount of interest refund a lender makes to the borrower because of early…

Q: Find the Simple Interest on a $ 50,000 loan at 15 ½2 % annual interest for ¾ year.

A: The simple interest is based on the amount of loan (P), the given interest rate (r), and the number…

Q: Find the annual simple interest rate of a loan, where $500 is borrowed and where $570 is repaid at…

A: Amount repaid (FV) = $570 Amount borrowed (P) = $500 Period (n) = 4 Months   Annual simple interest…

Q: Find the interest due loan of 5,500 at 3/4% simple interest for 1/4 year, using exact interest

A: To calculate the interest amount we will use exact interest formula as follows:   Interest amount =…

Q: Find the annual simple interest rate of a loan, where $900 is borrowed and where $1008 is repaid at…

A: Amount Borrowed = $900 AmountRepaid after 18 months = $1008 Months = 18 YEars = 18/12 = 1.5 years…

Q: Find the interest paid on a loan of $2,700 for one year at a simple interest rate of 11% per year.…

A: Simple interest = Principle × rate × time

Q: Find the exact interest on a loan of 33,000 at 7% annually for 35 days

A: A loan means receiving money from a bank or other financial organization. The borrower commits to…

Q: Find the annual simple interest rate of a loan, where $300 is borrowed and where $315 is repaid at…

A: Simple interest is an amount of interest that is paid on the principal portion of a loan or deposit.

Q: Find the interest refund on a 35​-month loan with interest of ​$2,834 if the loan is paid in full…

A: Data given: Total months =35 Remaining months = 13 Interest =$2834 Find=Interest refund=?

Q: FIND THE SIMPLE INTEREST ON A 30,000 LOAN AT 17% INTEREST FOR FOUR MONTHS.

A: Interest = principal x rate of interest x no. of months/12

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: Find the length of the loan in months, if $800 is borrowed with an annual simple interest rate of…

A: Time value of money concept says that a sum of amount invested today will have more value in future…

Q: Find the annual simple interest rate of a loan, where $900 is borrowed and where $1008 is repaid at…

A: Simple interest is the type of interest that is calculated on the original amount of the loan and…

Q: If $900 is borrowed and the interest after 6 months is $63, what is the annual interest rate for a…

A: The term simple interest refers to the borrowing arrangement in which the interest is only charged…

Q: due on a loan of $600 at 15.75% interest after 21 m

A: Given  Principal Amount = $ 600 Period = 21 Months Interest Rate = 15.75% pa or 1.31% pm FV=…

Q: Find the monthly payment and the given simple interest amortized loan. $5000, 9.5%, 4 years

A: Loan Amortized Schedule is as follows-

Q: Find the annual simple interest rate of a loan, where $800 is borrowed and where $904 is repaid at…

A: Interest charged on the principal amount at a fixed rate for a fixed period of time is known as…

Q: Create a loan repayment schedule for a loan of $30295 and payments of $8482 made annually. Assume a…

A: Given, Loan amount: $30,295 Annual payment: $8,482 Interest rate: 6.13% per year (compounded…

Q: Find the payment necessary to amortize a 4% loan of $900 compounded quarterly, with 15 quarterly…

A: Quarterly compounding is a form of compounding in which interest is earned every quarter and such…

Q: FIND THE SIMPLE INTEREST ON A 50,000 LOAN AT 14 1/2% FOR 7 MONTHS.

A: Simple rate of interest = 4,229.17

Q: Find apr of the loan given the amount of the loan, number and type of payments and the add on…

A: The annual percentage rate would be providing the information as to what is the cost of borrowing…

Q: Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 3%…

A: Compound Interest: Compound interest is interest computed on a loan or deposit depending on both the…

Q: Find the refund fraction on a 18-month loàn with interest of $2,852 if the loan is paid in The…

A: The refund fraction is the fraction or percentage that has to refund of the amount of loan.

Q: Consider a loan in the amount of BRL 420,000 to be repaid via PRICE, through 5 quarterly…

A: The amortization schedule provides the breakdown of each payment into interest and principal…

Q: For a personal loan amount of $5,000 @ 10.5% APR due in nine (9) months, a) what is the total…

A: Loan = 5000 Annual Percentage Rate = 10.5% N = Time Period = 9 months

Q: Find the present value (principal) to pay on a loan if $ 8,923 of future value (amount) is paid at…

A: Future value = Present value * (1 + rate*time)

Q: What are the interest cost and the total amount due on a six-month loan of $1,500 at 13.2 percent…

A: Payment on maturity of loan = Amount of loan + Interest cost Interest cost (Simple annual interest)…

Q: Find the ordinary interest on a loan of 32,500 at 8% annually for 45 days

A: Ordinary interest refers to the interest charged on a loan based on the nominal interest rate and…

Q: Find the amount due if $100 is borrowed for 11 months at 5% simple interest.

A: Interest can be charged using two methods: Simple Interest refers to interest charged on principal…

Q: Prepare the first row of a loan amortization schedule based on the following information. The loan…

A: Here, Loan Amount is $17,900 Interest Rate is 9% Time Period is 22 years.

Q: Find the APR of the loan given the amount of the loan the number and type of payments, and the add…

A: Annual percentage rate (APR) refers to a real interest rate which an investor is expect from his…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.