Jack borrowed $4239 at 7.8% to buy a used car. He paid the maturity value of $5460. Find the time c the loan in days. O 1546 days O 1458 days O 1329 days O 1311 days 4
Q: What is the new maturity value of the loan? Round your answer to the nearest cent. Do not round…
A:
Q: Caridad borrowed $18,500 at 11% ordinary interest for 160 days. After 60 days, she made a partial…
A: Borrowed amount is $18,500 Ordinary interest rate is 11% for 160 days Partial payment made at…
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- Luis paid off a loan by making a payment of $4,050, which included simple interest of 3% p.a. If he obtained the loan 6 months ago, calculate the amount borrowed and the amount of interest paid on this loan. Amount borrowed: Round to the nearest cent Amount of interest paid: Round to the nearest centPete Frank bought a computer for $4,000. Pete put down $500 and financed the balance at 10 ½% for 36 months. What is his monthly payment? (Use loan amortization table.)Caridad borrowed $18,500 at 11% ordinary interest for 160 days. After 60 days, she made a partial payment of $3,000. What is the final amount due on the loan? (Round to the nearest cent.) O $15,839.17 O $16,323.14 O $16,404.44 O $16,613.53
- Montel loaned $6800 to a friend for 13 months at an annual rate of 7.7% simple interest. How much interest did the borrower owe? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Interest owedAmy Lee held a $3,200 105-day note dated July 7, bearing interest at 9.6%. On August 11, Amy took the note to a finance company which discounted it at 11.3%. Use a 365-day year to find the missing information on the loan. Interest Amount: __________ Maturity Value: __________ Maturity Date: __________ Days of Discount: __________ Discount Amount: __________ Proceeds: __________Wade Ellis buys a new car for $16,882.14. He puts 10% down and obtains a simple interest amortized loan for the rest at the nearest cent.) (a) Find his monthly payment. X (b) Find the total interest. (c) Prepare an amortization schedule for the first two months of the loan. Payment Number Principal Portion Total Payment 0 1 2 LA पण Interest Portion पण A X X पण $ LA Balance 111% interest for four years. (Round your answers to
- A man borrowed P18,400.00 from a credit union that charges 8% simple interest for 1 year and 9 months. What is the amount of interest charged?On April 16, Anthony borrowed$1279 to buy a new laptop. The loan had a simple interest rate of 3.8% and was for 225 days. Anthony made a partial paymentof$700 on July 19. How much will Anthonyowe on the date of maturity of the loan?Caridad borrowed $17,500 at 11% ordinary interest for 160 days. After 60 days, she made a partial payment of $3,000. What is the final amount due on the loan? (Round to the nearest cent.) $14,820.83 $15,273.69 $15,355.56 $15,545.41 Submit Answer
- Steve Perry borrowed $80,000 at 12% ordinary interest for 60 days. On day 20 of the loan, Steve made a partial payment of $5,000. What is the new maturity value (in $) of the loan? (Round your answer to two decimal places.) $ Need Help? Read ItOn May 6, Jim Ryan borrowed $14,000 from Lane Bank at 7 1/2% interest. Jim plans to repay the loan on March 11. Assume the loan is on ordinary interest. How much will Jim repay on March 11? (Use Days in a year table.) (Round your answer to the nearest cent.) Jim repayJuan Pablo borrowed $1500 from a bank for 13 months. The bank discounted the loan at 5.7%.What is the loan's discount?$What is the net amount of money Juan Pablo receives?$What is the loan's actual rate of interest? (to the nearest hundredth of a percent)