Matthew Lindstrom bought a $15,000, 26-week Treasury bill at an annual discount rate of 4.5%. What is his effective rate? (Round to the nearest hundredth percent.)
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- David went to the bank and opened a 54 month CD compounded monthly with an APR of 4.22%. He deposits $4,200 into the CD. What will be the value of the CD when it comes to term? How much interest will the CD earn? What is the total percent increase?Suppose you lend $11,500 to a friend at an APR of 10.00%. Your friend will pay you back beginning next month with 60 monthly installments. You can reinvest the payments you receive in your money market account at an APR of 1.10%, calculated monthly. a. How much will your friend pay you each month? ______________ b. How much will you have in your account at the end of 60 months? (to nearest $___________________ c. What is your effective annual return (EAR), _._ _%?______________Mailee will pay out $6,000 at the end of year two and $8,000 at the end of year three. Then Mailee will receive $10,000 at the end of year four. With an interest rate of 10%, what is the net value of the payments versus receipts in today's dollars?
- You just borrowed $203,584. You plan to repay this loan by making regular quarterly payments of X for 69 quarters and a special payment of $56,000 in 7 quarters. The interest rate on the loan is 1.94 percent per quarter and your first regular payment will be made today. What is X? Input instructions: Round your answer to the nearest dollar. $The maker of cardboard boxes leases a warehouse and pays $5,000 at the beginning of each month for 5 years. If interest rates are 2.75% compounded monthly, what is the present value (in dollars) of the pavments? (Round vour answer to the nearest cent.)Archibald Andrews has just learned that he won $1,040,000 in the lottery. Archie has three options for payment: 36 equal semi-annual payments of $36,000, the first to occur in exactly one year. Taxes of 15% will be deducted from each payment. For this option, assume interest of 8% APR, compounded semi-annually. What is the present value?
- You just borrowed $373,641. You plan to repay this loan by making regular annual payments of X for 18 years and a special payment of $56,400 in 18 years. The interest rate on the loan is 12.90 percent per year and your first regular payment will be made in 1 year. What is X? Input instructions: Round your answer to the nearest dollar. EA $Mr. Akram wants Rs. 500,000 at the end of 8 years from now. Find the amount to be deposited at the end of each year, in an account offering 7% interest compounded annually. (Choose option closest to your calculation. HINT: USE EXCEL) Rs. 47,334 Rs. 48,734 Rs. 49,833 Rs. 50,1221) On December 31, Son-Nan Chen borrowed $100,000, agreeing to repay this sum in 20 equal annual installments that include both principal and 15 percent interest on the declining balance. How large will the annual payments be? 2) You’ve been offered a loan of $30,000, which you will have to repay in five equal annual payments of $10,000, with the first payment to be received one year from now. What interest rate would you be paying on that loan?
- Your uncle lends you $2,000 less $100 (interest at 5 percent), and you receive $1,900. Use the APR formula to find the true annual percentage rate. Assume you repay the entire loan in one year. (Enter your answer as a percent rounded to 3 decimal places.)Arman will pay back a P450,000 loan at the end of 26 months. This loan has an annual simple discount rate of How much money does Arman actually 7%. receive from the bank? A. P68,250 B. P381,750 C. P518,250 D. P581,750Suppose you obtain a 30-year mortgage loan of $194, 000 at an annual interest rate of 8.6%. The annual property tax bill is $972 and the annual fire insurance premium is $490. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)
