Nina borrowed money on 31 August and agreed to pay back the loan on 2 November of the same year. If the discount rate is 18% per year and she received R5 000 on 31 August, what is the value of the loan that Nina has to pay the bank on 2 November? 1.     R5 155,34 2.     R4 844,66 3.     R5 160,32 4.     R5 000,00 5.     None of the above

Q: years. The interest rate is i(12) = 8.750%. What is the outstanding balance on the loan just after…

A: The time value of money recognizes the idea that the value of an amount of money today differs from…

Q: Michelle borrows a total of $2500 in student loans from two lenders. One charges 3.2% simple…

A: Simple interest method is a method of computing interest on borrowed amount where interest is…

Q: Helen recently received a credit card with a nominal interest rate of 21 percent.  With the card,…

A: We can determine the time taken for Helen to repay back the loan by rearranging the PV of ordinary…

Q: 5. Erin borrowed $200,000 fixed-rate 30-yr mortgage when mortgage rate was 4.5%. How much total…

A: Amortization refers to the systematic and regular repayment of loan and interest spread over the…

Q: Mrs Shiirley Abundo borrowed 20, 000.00 at 7.5% compounded quarterly at a certain cooperative. How…

A: Here, Borrowed Amount is 20,000 Interest Rate is 7.5% Time Period is 2 year Compounding Period is…

Q: Caroline borrowed $1,500.00 at 9.00% p.a. She wants to settle this loan with 2 equal payments, one…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: Cynthia is 27 and has 3 years' worth of payments remaining on her student loan. She pays $312.75 a)…

A: Present value of annuity is the sum of the present value of all the cash flow in the future.

Q: r. What is the annual loan payment Dan must make?

A: The loan payment is an amount that a borrower pays the bank during the term of the loan. It includes…

Q: Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed…

A: Given: Principal “P” = $500 Simple rate = 9% Number of years “t” = 11

Q: José borrowed 8100 at 5 1/2% for  three years compounded, semi am annually. What is the future…

A: Future value is the value of an investment or cash flow at a future point in time, based on the…

Q: Tabitha had to pay her friend $1,200, 3 months ago and he has to pay $510 in 4 months. If her friend…

A: Present value:A financial concept known as "present value" emphasises the time value of money by…

Q: A couple borrows $935,000 for 7 years for the purchase of a vacation home at interest rate of 7…

A: The objective of the question is to calculate the annual payments on a loan and the reduction in the…

Q: Amber received a 15 year loan of $245,000 to purchase a house. The interest rate on the loan was…

A: Answer information:Step 1:a. Monthly Loan PaymentWe can find the monthly payment using the loan…

Q: Manuel has a $300,000 loan to be paid back with 5.329% interest over 30 years. What are Manuel's…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Sonia buys a house for $250,000. she makes a down payment of 15% of the purchase price and takes a…

A: Cost of house = $ 250,000 Down payment = 15%

Q: Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed…

A: The question is based on the concept calculation of future value of an investment amount by use of…

Q: Beda borrows a $10,000 loan from Wendy for 5 years at an effective rate of interest of 8% per year.…

A: The monthly payment is the payment that is paid at the end or beginning of every period until the…

Q: will owe $6,050 to repay a personal loan she took out to go on vacation. The loan was for a term of…

A: In simple interest there is no interest on the interest and there is interest on the principal…

Q: Zoe deposited $900 in a savings account at her bank. Her account will earn an annual simple interest…

A: Here, Principal “P” is $900 Simple rate "r" is 7% Number of years “t” are 13