Suppose that $10,000 is borrowed now at 15% interest per year. A partial repayment of $3,000 is made four years from now. The amount that will remain to be paid then is most nearly: A. $7,000 B. $8,050 C. $8,500 D. $13,000 E. $14,490
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- Suppose that $10,000 is borrowed now at 15% interest per year. A partial repayment of $3,000 is made four years from now. The amount that will remain to be paid then is most nearly: A. $7,000 B. $8,050 C. $8,500 D. $13,000 E. $14,490Suppose that $10,000 is borrowed now at 15% interest per year.The amount that will remain to be paid?
- Suppose that $12,000 is borrowed now at 12% interest per year. A partial repayment of $4,000 is made five years from now. The amount that will remain to be paid then is most nearly: correct AnswerSuppose that $12,000 is borrowed now at 12% interest per year. A partial repayment of $4,000 is made five years from now. The amount that will remain to be paid then is most nearly:The amount that will remain to be paid then is most nearly:
- Your company has just taken out a loan for $25,000 to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 10% compounded annually. What percentage of the 2nd payment will be interests? A. 17.36% B. 19.36% C. 18.36% D. 21.36% E. 20.36%Suppose you borrow $8500 for a term of five years at a simple interest and 8.25% APR. how much is the total (principal plus interest) you must pay back on the loan?6.If the current value of $1000 received five years from now is $680.50, what is the assumed annual interest rate? 7.If the current value of $1000 received in each of the next five years starting one year from now is $3889.65, what is the assumed annual interest rate? 8.$1000 is deposited in a bank earning 8% compounded annually. What will be the balance at the end of ten years? What will be the ending balance assuming money is compounded quarterly?
- a. Set up an amortization schedule for a GHȼ 25,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 10%. b. How large must each annual payment be if the loan is for GHȼ 50,000? Assume that the interest rate remains at 10% and that the loan is still paid off over 5 years. c. How large must each payment be if the loan is for GHȼ 50,000, the interest rate is 10%, and the loan is paid off in equal installments at the end of each of the next 10 years? This loan is for the same amount as the loan in part b, but the payments are spread out over twice as many periods. Why are these payments not half as large as the payments on the loan in part b?= Calculate the future value of $8,000 in a. Four years at an interest rate of 8% per year. b. Eight years at an interest rate of 8% per year. c. Four years at an interest rate of 16% per year. d. Why is the amount of interest earned in part (a) less than half the amount of interest earned in part (b)? ...Find the present value of the given future amount. $183,714 for 321 days at 5.6% simple interest. Assume 360 days in a year. What is the present value? (Round to the nearest dollar as needed.)