In order to start a small business, a student takes out a simple interest loan for $9000 for 9 months at a rate of 8.75%. a. How much interest must the student pay? b. Find the future value of the loan. a. The amount of interest is $ (Round to the nearest cent as needed.)

Q: Consider a student loan of $12,500 at a fixed APR of 6% for 25 years. a. Calculate the monthly…

A: (a) Obtain the monthly payment as follows.

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A: Given formula: P=m*1-1+rn-ntrn Given information: n=12 m=$1050 t=9 yr r=6%.

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A: Given, Total interest is $2859. Total time of loan is 33 months, loan is paid in full with 11 months…

Q: Calculate

A:

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A: Solution:

Q: Mrs. Salas owns a bookstore, she buys used from customers for $0.75 each. Mrs. Salas resells the…

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A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

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A: Please refer to the solution in next step.

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A: Given that, loan amount P=$175,000, monthly payment PMT= $975, Interest rate r=4.5% and frequency of…

Q: Use a calculator to evaluate an ordinary annuity formula nt - 1 A = m for m, r, and t…

A: The given formula for ordinary annuity is A=m1+rnnt-1rn. The given values are m=$100, r=4%=0.004,…

Q: James has a mortgage of $96,500 at 4% for 15 years. The property taxes are $3,900 per year, and the…

A: NOTE: Refresh your page if you can't see any equations. . here we have L=96500 r=4% t=15 years The…

Q: For the following loan, make a table showing the amount of each monthly payment that goes toward…

A: According to bartleby expert guildline I am solving the 1st question for another question you send…

Q: Use a calculator to evaluate the present value of an annuity formula   for the values of the…

A: Answer:- Given, m = $ 50r = 5% = t = 9 yearn = 12Using formula, The present value of an annuity,