st rate of 15% compounded monthly as penalty for the late payment. Because of the length of delay, the bank is t

Q: Rochelle needed to borrow $3,000 for three months in order to pay for college expenses while waiting…

A:

Q: Faisal has insured his vehicle with AXA insurance company. Throughout the year he experiences a loss…

A: Loss in January = 1154 Loss in May = 1255 Loss in December = 1292 Straight Deductible = 824

Q: You have a $1,400 balance on your 15% credit card. You have lost your job and been unemployed for 6…

A: Effective rate of interest The real return you get from an investment when compounding is taken…

Q: During a 3-year period when his business was prospering, Jack was able to deposit $1,000 at the end…

A: The future value of an annuity is the future worth of a cash flow series at a certain interest rate…

Q: How much did Jack withdraw every 6 months ?

A: Compound interest is the interest on interest. Under this method the interest for the next period…

Q: 1. Robert borrowed a certain sum of money from Joey on June 1, 1994 and signed a note promising to…

A: A promissory note is a financial instrument that is issued on a current date with a promise to pay a…

Q: per annum rate of simple interest?

A: Interest is earned on principal invested for a given time at a predetermined rate. However, many…

Q: Mack Aroni, a bank robber, is worried about his retirement. He decides to start a savings account.…

A: The future value of an annuity is the future worth of a series of cash flows at a certain rate of…

Q: Carol Miller went to Europe and forgot to pay her $740 mortgage payment on her New Hampshire ski…

A: The bank charges interest on the loan provided to the customers. Interest is one of the main sources…

Q: Faisal has insured his vehicle with AXA insurance company. Throughout the year he experiences a loss…

A: Vehicle insurance  protects drivers and passengers in automobiles, trucks, motorcycles, and other…

Q: Jake's Auto Repair received a $3,000, 90 day, 10 % promissory note from Samantha in exchange for…

A: A journal entry is a beginning record- keeping entry made into the account system of a business to…

Q: Bill needs to borrow $24,000 now to pay for personal expenses. Bill would like to pay back the 1)…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: How long will it take Rachel to pay for her wardrobe? Should she shop for a new card? Why or why…

A: A credit card is a financial tool that enables people to borrow money from a bank or other financial…

Q: interest

A: Borrowed Amount p25000 Rate of interest 12% for 24 month

Q: Gigi’s credit card situation is out of control because she cannot afford to make her monthly…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: simon's cost for a new computer with accessories was $3120. he made a down payment of $550 in…

A: Company would be paying the interest on the amount borrowed for the purpose of paying late. The more…

Q: Starting on July 1, 2000, Peter borrows $7,600.00$7,600.00 each year for 4 years from his dear Aunt…

A: Interest is the amount which is charged on the loan amount on the outstanding balance. Given in the…

Q: Bozo owes $5000 due in one year and $7,000 due in seven years. Unfortunately Bozo is unable to meet…

A: Loans are financial arrangements wherein one party lends funds to another with the expectation of…

Q: Sally is in the business of purchasing accounts receivable. Last year, Sally purchased an account…

A: Step 1: Sally's basis in the accounts receivable is $60,000. Why? The basis of the accounts…

Q: Stéphanie visited a financial institution and signed a 12-year, non-interest-bearing promissory note…

A: Time period of promissory note is 12 years or 12×4=48 Quarters Interest rate is 3.15% compounded…

Q: Stéphanie visited a financial institution and signed a 10-year, non-interest-bearing promissory note…

A: Value of promisory note is $6000 Years to maturity is 10 years Interest rate is 2.15% Compounded…

Q: Vivian plans to replace all four air-conditioners in her home. The total cost is $70,000. The loan…

A: Monthly flat rate is 0.8% Administration fee is $250 Down payment is $10,000 Time period is 2 years…

Q: Caleb's duplex sold at a foreclosure auction for $140,000. At the time of foreclosure, he had not…

A: A loan is an amount given by the lender to the borrower at an agreed interest rate for a defined…

Q: Kim needs to borrow money. In order to borrow money he writes a note that states that he will pay…

A: Given information: Kim borrowed money and writes a note that he will pay $4280 in 12 months, Kim…

Q: Mr. Smith did not pay his full credit card balance on June 5th, the due date each month for payment.…

A: Interest charge refers to an amount that is being charged on the balance amount over the period that…

Q: Bozo owes $4000 due in one year and $8,000 due in six years. Unfortunately, due to lack of…

A: Future value formula will be used to calculate amount payable at end of time period. Future value =…

Q: Bradford's automobile insurance policy has a $1,400 deductible, with a $3,800 out-of-pocket limit…

A: Here discuss about the insurance  deduction and copayments when at the time of the claiming of the…

Q: Faisal has insured his vehicle with AXA insurance company. Throughout the year he experiences a loss…

A: Loss in January = 1577 Loss in May = 1284 Loss in December = 1102 Aggregate Deductible = 2574

Q: Mitt was injured by a bus called “Move Forward.” He won a lawsuit and will receive $10,000 per…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: You have a $1,400 balance on your 15% credit card. You have lost your job and been unemployed for 6…

A: A credit card is a financial tool that allows individuals to borrow funds from a financial…

Q: Cassidy has recently begun keeping her spending under control, but she still cannot fully pay off…

A: For calculating annual interest charged per year , firstly we will calculate monthly interest…

Q: Bill recently had his truck slide off a gravel road and strike a tree. Bill's vehicle suffered…

A: Collision insurance is an added extension of an automobile insurance policy that reimburses the…

Q: elly sold his car to Buyie for 120,000 payable in 12 equal installments of  10,000 each month. As a…

A: Answer: Given is Selly sold his car to Buyie for 120,000 Installments= 12 Installment amount= 10000

Q: Sam refuses to retire until his retirement account has a balance of at least $ 369,214 . Sam refuses…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…