Principal $12,000, Interest Rate 9%, Time 240 days (use ordinary interest)   Partial payments:  On 100th day, $5,800      On 180th day, $3,400   What is total interest cost?

Q: Principal Rate (%) Time Interest $50,000 8 3/4 3   6 months

A: In contrasts to a fee that the borrower may pay the lender or another party, interest is a payment…

Q: Given Principal $14,500, Interest Rate 8%, Time 240 days (use ordinary interest)   Partial…

A: The amount of interest expenses refers to the fixed payment made by the borrower. It is charged at a…

Q: None

A: To calculate the balance of a fixed deposit account with compound interest, you can use the compound…

Q: $1,500 plus 5% sales tax,$ for 4 year  installment loan at 11% (add-on rate) what is the monthly…

A: Meaning of Add on interest rate : Add-on interest is a method of calculating the interest to be paid…

Q: Find the amount due if $200 is borrowed for 4 months at 17% simple interest

A: Amount due refers to the net amount that needs to be either paid by the borrower to the lender or to…

Q: principal borrowed of $89,000, 12 annual payments a year, monthly payments are $1,100, 8.75%…

A: The time value of money refers to the concept in finance that evaluates the worth of money by…

Q: A debt of $39 comma 000 is repaid over 14 years with payments occurring monthly. Interest is 10%…

A: Step 1:

Q: A debt of $30,000 is repaid over 14 years with payments occurring monthly. Interest is 12%…

A: Amount of debt = $30,000Period of debt = 14 yearsInterest rate = 12% compounded quarterlyFrequency…

Q: Principal: $17,100 Interest rate: 16% Compounded quarterly Calculate the effective rate (APY) of…

A: Principal =$17100 Interest rate =!6% compounded quarterly To calculate the effective rate of…

Q: Given Principal $10,000, Interest Rate 8%, Time 240 days (use ordinary interest)   Partial payments:…

A: Principal Value = $10,000 Interest Rate = 8% Assume number of days in year = 360  Interest Amount =…

Q: Given Principal: $8,000, 7%, 240 days Partial payments: On 100th day, $3,400 On 180th day, $2,300 a.…

A: According to the US rule interest is calculated only on the unpaid principal amount for the days…

Q: A debt of $39 comma 000 is repaid over 14 years with payments occurring monthly. Interest is 10%…

A: Periodic payments can be referred as the monthly or annual payments that an investor asks the…

Q: 1. The total price of the car : 24,000 2. Down payment percent: 10% 3. Interest rate: 7.5% 4. Loan…

A: Loan can be referred as the long-term debt or the lump sum funds that an investor seeks from the…

Q: What is the interest accrued on $6,500 at 6% for 60 days?  (Express your answer in whole dollars.)

A: The problem is asking us to calculate the interest accrued on a principal amount of $6,500 at an…

Q: If a $27,000 loan is repaid by end of month payments of $640 and interest is at 9% compounded…

A: Loan amount = $ 27000 Monthly payment = $ 640 Interest rate = 9% Monthly interest rate = 9%/12 =…

Q: ate 10% time 180 days Interest:$45.28 Find the principal. Round to the nearest cent

A:

Q: Find the simple interest. Principal Rate Time in Months $2000 4% 9 The simple interest is $ (Round…

A: Simple interest is a type of interest that is calculated only on the principal amount of a loan or…

Q: Given Principal $18,000, Interest Rate 9%, Time 240 days (use ordinary interest) Partial payments:…

A: Principal  $       18,000.00   Interest Rate 9%   Time Period(Days) 240   Partial Payment on…

Q: Find the simple interest earned. $420 principal, 9% exact, 90 days

A: Simple interest is the method of calculating interest in which the principal amount remains the same…

Q: Find the simple interest. Principal Rate Time in Months $10000 8% 9 The simple interest is $ (Round…

A: Simple interest refers to the interest earned on the principal amount invested for a period of time…

Q: Find simly interest earn

A: Principal = $9334 Interest Rate = 8.1% Time = 84 days Interest = Principal x Interest Rate x Time in…

Q: Principal: $16,100 Interest rate: 28% Compounded quarterly Calculate the effective rate (APY) of…

A: APY = [(1+ r/n)^n] - 1 where, r = 28% n =4   as interest is compounded quarterly

Q: Principal is $32,000    Interest Rate is 7%    Time is 3 years Total Amount Owed (includes…

A: Interest expense = Principal* Rate* Time

Q: Scott's student loan of $22,500 at 3.42% compounded quarterly was amortized over 3 years with…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Principal $10,000, Interest Rate 89%, Time 240 days (use ordinary interest) Partial payments: On…

A: When a partial payment is paid, the amount of payment will first reduce the interest obligations and…

Q: What monthly payment is required to pay off a $55,000 loan in six years if the interest rate on the…

A: Monthly payment refers to the amount that is being paid on monthly basis for the repayment of the…

Q: Given: princial $10,000, interest rate 8%, time 240 days (use ordinary interest). Partial payments:…

A: Step 1: Calculate the initial interest accrued before the first paymentPrincipal: $10,000Interest…

Q: Aaron's student loan of $24,500 at 3.32% compounded quarterly was amortized over 5 years with…

A: Loan Amount is $24,500 Interest rate is 3.32% compounded quarterly Time period of loan is 5 years…

Q: 5 % rate for 15 years is 7.90794

A: Amortization is a form of finance used over a certain period of time to gradually reduce the book…

Q: Far East Imports Inc. owes $64 000.00 to be repaid by monthly payments of $2475.00. Interest is…

A: Amount of loan = $64,000Monthly payments = $2,475Interest rate = 6.12%

Q: Principal: $17,000 Interest rate: 8% Compounded Quarterly Calculate the effective rate (APY) of…

A: The effective rate can be calculated by using this equation Effective rate =1+imm -1 Where i=Nominal…