Find the total amount that must be repaid on the following note described. $8,573 borrowed at 16.5% simple interest What is the total amount to be repaid 3 years, 125 days later? (Round your answer to the nearest cent.)___________

Q: You have a loan of $44354 and will repay the loan over 5 years at 2% interest under fixed payment…

A: Present value of an annuity: It is the value of all future payments at the present date at some…

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

A: Step 1 The amount a lender charges a borrower is called an interest rate, and it is expressed as a…

Q: Calculate the amount of simple interest payable if a person borrowed $25 500 at a simple interest…

A: Simple interest is the method of calculating interest when the interest earned does not get…

Q: You borrow $11,000 over a 5-year term. The loan is structured as an amortized loan with annual…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: You deposit $ 6,957 in an account that pays 1 % simple interest. How much do you have after 12…

A: Deposit amount (P) = $ 6,957 Interest rate (r) = 1% Period (t) = 12 Years

Q: What is the interest earned in a savings account after 12 months on a balance of $4000 if the…

A: Since compounding is annually and we have to find the interest earned for 12 months, formula would…

Q: You deposit $725 today in a savings account that pays 6% interest, compounded annually. How much…

A: Future value, or FV for short, is a term used in finance to describe the estimated monetary value of…

Q: Suppose you deposit $1,030.00 into an account 4.00 years from today. Exactly 13.00 years from today…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: Melvin availed a loan from a bank that gave him an option to pay Php 14,600 monthly for 2 years. Th-…

A: Present value of all monthly payments considering the interest rate and period of payment would give…

Q: 006's 7,075 6% 0.943 0.890 0.840 0.792 10% 0.909 0.826 0.751 0.683 12% 0.893 0.797 0.712 0.636

A: Amount received = $25,000 Interest rate = 10% Time period = 4 Years

Q: A friend of yours borrows $19,500 from the bank at 8% annually to be repaid in 10 equal annual…

A: Calculation of installment amount: Installment amount = Amount / Present value annuity factor (PVAF)…

Q: You have taken a loan of $244,000. You can afford to pay monthly payments of $1921.13. This loan…

A: Mortgage payments are the monthly payments of the long-term loan taken from the lender. The borrowed…

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: Compute the annual interest, total interest, and amount to be received or paid at the end of the…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: Use the following amortization chart: Selling price of home $ 99,000 Down payment $ 5,000 Principal…

A: The question is based on the concept of Annuity in Financial Management. Annuity refers to the…

Q: Suppose you borrowed $3,000 at a rate of 8.8% and must repay it in 4 equal installments at the end…

A: Present Value = pv = $3000Rate of Retunr = r = 8.8%Number of Payment = n = 4

Q: Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) Amount of…

A: We use Pv function to calculate present value of annuity

Q: Solve for the missing item in the following.  Principal Interest rate Time  Simple interest $345 5%…

A:

Q: You deposit $200 in an account earning 7% compound interest for 6 years. Find the future value and…

A: Future value refers to the projected monetary worth of an investment or asset at a specified date in…

Q: . Simple Interest Solve the following Problem 1. A man borrowed P45,000 from a lending institution…

A: Simple interest is the rate of interest calculated on the principal amount at the percentage which…

Q: What is the value today of receiving $2,674.59 per year forever? Assume the first payment is made…

A: Present value refers to the current value of an asset that will be present at some future date which…

Q: Part 1 a. Calculate P1+r12n and call this number A.   A=enter your response here ​(Round to two…

A: Time value of money (TVM) is used to measure the value of money at different point of time in the…

Q: Find the compound amount and the amount of interest earned by the deposit below. $9,000 at 7.79%…

A: Deposit amount (P) = $9000 Interest rate (r) = 7.79% Period (t) = 3 years Mathematics constant (e) =…

Q: You would like to earn simple-interest $1 800 from a term deposit at 4.25% in 8 months. Calculate…

A: Simple interest is a method of interest calculation where the principal amount remains the same for…

Q: Find the total monthly payment, including taxes and insurance, for the following loan. Term of…

A: A mortgage is a loan taken out for the purchase of real estate. The real estate being purchased acts…

Q: Suppose you deposit $1,016.00 into an account 4.00 years from today. Exactly 13.00 years from today…

A: Present Value = pv = $1016Time = t = 13 - 4 = 9 YearsFuture Value = fv = $1741

Q: 2) If you deposit $3 account balance How many yea

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

Q: Find the amount (in $) of interest on the loan.

A: Interest: It refers to the monetary charge paid by the borrower to the lender for taking a loan. It…

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: A loan of amount $33300 is to be repaid in payments that each consist of a principal repayment of…

A: Interest refers to an amount that is paid every time along with the principal payment for the…

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: What is the total amount that must be repaid on the following note $8,543 borrowed at 14.5% simple…

A: Simple interest is interest without compounding.

Q: Calculate the amount of interest to be paid on a $50,000 loan over the next 28 months if money earns…

A: simple interest formula: I =P×R×T100where,P = PRINCIPALR = RATE OF INTERESTT = TIME IN YEARS

Q: Determine the monthly payment for the installment loan. Use the installment payment formula m = 1-…

A: Given , Amount of financed , P = $1440Annual percentage rate , r = 8%No.of payments per year , n =…

Q: lo find out the balance in your account just after you make deposit whereby you will deposit $400 at…

A: Future value of annuity can be found from the interest rate , period and annuity payment by finding…

Q: Based on the information, determine the value of each "?" in the following table: Loan Amount =…

A:

Q: Use the amortization table to determine how much interest is paid in the first 4 months of the loan.…

A: whenever the lender makes the loan advance to the borrower, then he levies interest on the principal…

Q: Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $70,000 5 4 1 2…

A: The interest is the amount that is received or paid on the principal amount for the specified time…

Q: 3.4.43-BE Construct the amortization schedule for a $16,000.00 debt that is to be amortized in 12…

A: An amortization schedule is a table showing periodic loan payments until the loan is completely paid…

Q: Required 1 Calculate the future value. On January 1, 2020, $30,000 is deposited into a savings…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Prepare an amortization schedule for a three-year loan of $87,000. The interest rate is 10 percent…

A: Loans are equal and fixed amount of periodic payments and these payments carry the payment for…

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.