Rural Global Co. miakes many loans to individuals by discounting the face value of the loan. The borrower gets the proceeds. For the loan below, determine the amount of the discount, the proceeds, and the actual interest rate which is based on the proceeds rather than the face value, Use a 365-day year and compute actual rates to the nearest 1/100 of a percent. Actual Face Discount Discount Interest Value Rate Time Amount Proceeds Rate $5,300 9% 200 days

Q: Suppose you purchase a refrigerator for $1,275 and make payments of $59.91 per month for 2 years.…

A: We can solve this as follows:

Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a…

A:

Q: balance of $11,660 at an APR of 16.99%You plan to pay $500 each month in an effort to clear the debt…

A: Solution:-The loan amount on the credit card i.e. PV =$11660APR =16.99% p.a. i.e. 16.99/12 =1.41583%…

Q: Prinicpal                13,800 Rate %                  9.4 Time                      3 3/4…

A:

Q: Use this table to find the monthly mortgage payments, when necessary. Roberto has a mortgage of…

A:

Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a…

A: Given: Let us consider the given, Principle=$1500 Rate=14% Time Period=3 years

Q: Estimate the annual percentage rate for the add on loan using the given number of payments and…

A: Given n=42 and r=5.9% We have to estimate the annual percentage rate for the add on loan by using…

Q: Suppose that you decide to buy a car for $32,635, including taxes and license fees. You saved $9000…

A:

Q: Find the amount (in $) of interest on the loan. Principal Rate (%) $50,000 Alw 5- Time 6 months $…

A: Interest = (Principal * Interest Rate * Time) / 100Given:Principal = $50,000Interest Rate = 23/4% =…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

A:

Q: Over the previous period, your company had accounts receivable of $95,800 and credit sales of…

A: Given accounts receivable=$95,800 credit sales= $573,229.51 to find out: average collection period=?…

Q: Find the simple interest paid on a $880 investment at 6.4% annual interest for 30 days. Use the…

A: given that  principal p=$880 , interest rate r=6.4% annual  and t=30 days  now by bankers formula we…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

A:

Q: Find the simple interest. Principal   Rate   Time $4000   9%   1 year

A: Introduction :-  Here we want to calculate simple interest for the given situation.  Given :-…

Q: A person owes $1000 on a credit card that charges an interest rate of 2% per month. Complete this…

A: solutionGivenInterest rate=2% per monthowes=1000$

Q: Jolene's MasterCard statement shows an average daily balance of $680. Find the interest due if the…

A: Here, average daily balance= 680 rate=0.016

Q: Suppose that you borrow $14,000 for three years at 5% toward the purchase of a car. Use PMT=- find…

A: