How much interest will accrue over three months on a $10,000, 9% loan? A. $2,700 B. $225 C. $300 D. $900
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- \A man loans $4,000 at one interest rate and $5,000 at a 1% greater rate. The $5,000 loan earns $110 more per year than the $4,000 loan earns. Determine the following: The interest rates. Explain the concepts/principles that were considered and the factors that affected the condition of item (a)Suppose you take out a loan for 180 days in the amount of $15,500 at 13% ordinary interest. After 40 days, you make a partial payment of $1,000. What is the final amount due on the loan? (R to the nearest cent.) O $14,731.39 O $15,468.26 O $15,680.94 O $15,731.88Find the future value of this loan: $20,862 at 11.4% for 14 months. Group of answer choices A. $23636.65 B. $25657.00 C. $263536.51 D. $40,000.00
- How much would one pay in points on a $145,000 loan if 2 points were charged? a. $2,900 b. $2,000 c. $2,842 d. $2,320How much interest will be paid on 5-year, $50,000 loan if the rate of interest is 7.5% compounded annually? Multiple Choice $10,791.18 $11,791.18 $12,791.18 $9,791.18 $8,791.18If you borrow $1,000 at 8.5% simple interest and the loan requires a lump sum payment of $1,235.79, what is the term of the loan? (Round your answer to the nearest whole number.)t = ________ days
- An interest problem: Suppose $1000 is invested in an account paying interest at a continuous rate of 6% a year. What is the A.P.R. for this loan? A. 6% B. 6.18% C. 5.82% D. 1.0612.) Find the simple interest on a loan of P65,000.00 if the loan is given at a rate of 8% and is due in 6 years and 3 months. A. $3,250.00 C. P32,500.00 B. P31,200.00 D. P46,800.001. Consider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using the average balance method). b. How much would you pay in total for interest?
- If you borrow $18,000 today with a loan term of 2 years and semiannual repayments of $4,500, how much will your third interest payment be with an annual interest rate of 4%? O a. $270 O b. $180 Oc. $380 O d. $360D3) Finance The Assured Independence Bank has offered to lend you $200,000 on a line of credit. Interest is charged at 11% and there is a commitment fee of $1,500. If the payment terms are 2/10 n45 what is the cost of this loan? Express the cost of this option as a simple interest rate (%+2 decimal places)Can someone help me find the right answer?