Round to the nearest cent or hundreth percent as needed: Principal: ? Rate: 7% Time 15 months simple interest: 2,730

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: Convert 2.27% compounded monthly to an equivalent interest rate compounded quarterly. Round the…

A: More is the compounding than more is the effective interest rate and less is compounding than less…

Q: find the simple interest of the given amount (round to the nearest cent) $440 borrowed st 6 and…

A: simple interest is the interest calculated only on principle amount and it does not calculate…

Q: End the effective bimonthly interest rate equivalent to: a) nominal annual interest of 8%,…

A: Effective annual rate=1+rmm-1where,r=rate of interestm= frequency of compounding

Q: Find the periodic payment for the following annuity due. Future Value Present Value $12,600 Payment…

A: Present value (PV) = $12,600 Monthly period (p) = 84 (i.e. 7 years * 12) Semiannual interest rate =…

Q: The interest for a home loan is 7.2%. Find the effective rate for each compounding. Round to the…

A: a) Compounded Monthly Effective rate =  [(1+nominal rate/no. of compounding periods)] ^(no. of…

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: A loan is offered with monthly payments and a 11.25 percent APR. What's the loan's effective annual…

A: Effective Annual Rate (EAR) is the actual rate of interest paid, by taking into account the…

Q: Calculate the effective rate (APY) of interest for 1 year.

A: Time value of money(TVM) means that the amount of money received in the present period will have…

Q: What is the discounted value of payments of $63.00 made at the end of each month for 3 years if…

A: This is a case of an annuity. Annuity is a fixed constant sum of payments that are made on a…

Q: A payment of $3,000 was made into an account at the end of every 3 months for 12 years. a. If the…

A: given, A= $3000 n = 6 years r=4% m= 4 ( quarterly compounding)

Q: Find the effective annual interest rate (EAR) for each of the following: 6.32 percent compounded…

A: Effective rate of return refers to the rate of interest after accumulation or compounding of the…

Q: Compute the nominal annual rate of interest for the following simple annuity due. Future Value…

A: Let's dissect the computation in detail: 1. Rent Payment: In this annuity, the rent payment is the…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $2600, r = 5.9%, t = 6 months

A: Simple interest is the return which only the principal amount of the investment earns. There is no…

Q: A demand loan for $5409 08 with interest at 4.2% compounded annualy is repaid after 6 years, 8…

A: Compound interest also called interest on interest. It is the addition of interest in the principal…

Q: Principal: $16,400 Interest rate: 16% Compounded quarterly Calculate the effective rate (APY) of…

A: Given: Interest rate = 16% Compounded quarterly means 4 times in a year.

Q: A demand loan for $7745.46 with interest at 7.4% compounded quarterly is repaid after 6 years, 2…

A: Loan amount (P) = $ 7745.46 Interest rate = 7.4% Quarterly interest rate (r) = 7.4%/4 = 1.85% Period…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $7,000, r = 6.2%, t = 8 monthS

A: First, converting R percent to r a decimalr = R/100 =  = 0.062 per year,Total no. of years = =…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $3900, r = 5.3%, t = 6 months

A: P = $3900 r = 5.3% t = 6 monnths

Q: What is the duration of an 8% semi-annual payment one-year note that currently sells at par? Face…

A: Macaulay duration refers to the measurement of the weighted average time consumed to receive cash…

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: Complete the following table: (Use Table 15.1.) Note: Round your intermediate calculations and final…

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

Q: Find the principal Rate: 7 and 1/2 Time: 150 days Interest:$500 The principal is ?

A: compound interest = Principal * [(1+r)^n - 1] Where,  r = rate of interest i.e. 7 and 1/2 or 7.5%  n…

Q: A $28,400 loan at 8% compounded quarterly is to be repaid by equal quarterly payments over a…

A: Loan amount=$28400Interest rate=8%Quarterly interest rate=r=2%Period=n=7years=7 x 4=28 payments

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: Annual % rate: 5.9% Amt of Mort: $180,000 Unpaid Balance: Monthly Payent: $1067.65 Number of Monthly…

A: Loans are paid by equal monthly payments and the unpaid balance is the present value of payments…

Q: What nominal rate of interest, compounded quarterly

A: To calculate the nominal rate of interest compounded quarterly over the first ten years, we need to…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $3600, r = 5.3%, t = 6 months

A: The effective annual rate of interest is the actual or the real rate of interest paid or received…

Q: Find the interest. Round to the nearest cent. 1) $600 at 2% for 6 years

A: To find the simple interest, you can use the formula:Simple Interest=P×r×twhere:P is the principal…

Q: What rate of interest (in %) compounded quarterly will yield an effective interest rate of 8.6%?…

A: Effective Annual Rate: The effective annual rate of interest is the actual or the real rate of…

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: Calculate the amount of interest that will be charged on $17120 borrowed for 6 months at 8.7%.…

A: GivenPrincipal (amount borrowed) = $17,120Rate (annual interest rate) = 8.7% or 0.087 (as a…

Q: Find the value of the annuity and the interest. Round to the nearest dollar.   A=P(1+r)t−1r…

A: The value of the annuity is the value of regular payments in the future at a given interest rate. An…

Q: loan of $37,100.00 at 6.00% compounded semi-annually is to be repaid with payments at the end of…

A: The objective of the question is to calculate the size of the periodic payment and the total…

Q: What is the effective annual rate on a loan that charges 8.2 percent, compounded quarterly? Multiple…

A: Effective annual rate is computed by following formula:-Effective annual rate =  - 1 whereA =…

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: Calculate the simple interest earned. Round to the nearest cent. P = $9080, r = 5.25%, t = 4 months

A: Simple interest means that the borrower only needs to calculate interest each year on the principal…

Q: A demand loan of $3000.00 is repaid by payments of $1500.00 after two years, $1500.00 after four…

A: Initial principal amount = $3000 Rate of interest for Ist 2 years = 5% per year Total amount after 2…

Q: A loan is offered with monthly payments and a 10 percent APR. What is the loan's effective annual…

A: In the given question we need to calculate the Effective annual rate (EAR) from the details given.

Q: For the following annuity due, determine the nominal annual rate of interest. Future Value Present…

A: Future value of the amount include the amount being deposited and amount of interest accumulated…

Q: An interest rate of 10% compounded semi-annually is given, compute for the interest rate per period?…

A: An interest rate of 10% compounded semi annually.Interest rate per period is 5%

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…

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.