Golden Dragon Restaurant obtained a $9000 loan at 9% compounded annually to replace some kitchen equipment. What is the size of the final payment if payments of $1800 are made semi-annually? $1335.50 $1800 $1500 $1394.30 $1667.76

Q: Business loan The owner of a small business decides to fi- nance a new computer by borrowing $3000…

A: Borrowing = 3000 Time Period = 2 years ×12 = 24 Months  Interest Rate = 7.5%/12 = 0.625%

Q: A couple purchase a home and sign a mortgage contract for $150000 to be paid monthly over 25 years.…

A: a. Calculate the monthly payment as follows: Monthly payment is $1,157.72

Q: South Penn Trucking is financing a new truck with a loan of $10,000 to be repaid in 5 annual…

A: Here,Loan Amount is $10,000Annual Installment is $2,504.56Time Period is 5 years

Q: a. How many payments are required to settle the loan? _________payments b. Fill in the partial…

A: Loan is financial agreement where a person (lender) lends lump-sum money to other person (borrower)…

Q: A design studio received a loan of $5,850 at 4.40 % compounded semi-annually to purchase a camera.…

A: Amortization Schedule   Beginning Balance Interest Principal Ending Balance 1 $5,850.00 $64.00…

Q: The hotel you manage just purchased a new piece of property that is financed with a $800,000…

A: Amortization schedule refers to the statement showing the amount paid in every period including…

Q: What effective annual rate (EAR) are they charging us on the loan?

A: Effective Annual Rate: It refers to the true annual rate on a loan/credit or on investment since it…

Q: A truck costing $120,000 is paid off in monthly installments over four years with 6.3​% APR. After…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: hase a used sports utility vehicle costing $30,000 by taking out a 9% add-on installment loan. The…

A: Answer : Cost of Vehicle = $30,000 Down payment = $30,000*15% = $4,500 Interest rate = 9% Time = 5…

Calculating the Return On A Loan