Suppose you take out a loan for $7,000, at 12% ordinary interest. If the amount of interest is $672, what is the time period? (Round any fraction to the next higher day.) O280 days O284 days 288 days O 292 days

Q: What annual payment is required to pay off a four-year, $29,000 loan if the interest rate being…

A: Loan amount (L) = $29000 Let the annual payment = A Monthly payment = M EAR = r = 7% Let monthly…

Q: wer takes out a 10-year mortgage loan for $300,000 with an interest rate of 7%. What portion of the…

A: Interest payments:Interest payments refer to the amount of money that is paid by a borrower to a…

Q: You take out a 10-year installment loan for $220,000 and will make 40 quarterly payments of…

A: Amortization Table A document that details the monthly loan payment amount is known as an…

Q: Suppose that your Stafford loans plus accumulated interest total $31,811 at the time that you start…

A: Installment is the amount of periodic payments a borrower has to make in order to repay his loan in…

Q: rescott Bank offers you a five-year loan for $69,000 at an annual interest rate of 8.5 percent. What…

A: The value of money changes with time. Therefore, the time value of money considers the worth of…

Q: Assume the monthly payment of a loan amount of $400,000 is $1450. How long will it take to retire…

A: The loans are paid by the monthly payments and these are fixed and equal types of payments and they…

Q: Assume that you take out a $7000 loan for 46 months at 7.5% APR. How much total interest will you…

A: Loan: It is the amount of money borrowed from a person or bank or company for a certain period…

Q: If $500 is borrowed and the interest after 18 months is $45, what is the annual interest rate for a…

A: Given:

Q: Assume you take out a $2000 loan for 30 months at 9% APR. What is the monthly payment? (Round your…

A: Monthly payment is present value amortised for with equal instalment. r is interest rate APR and n…

Q: The maturity value of a 4-month loan of $4,250 is $4,367.50. What is the annual simple interest rate…

A: The maturity value is $4367.50. The principal amount is . The time is  months. The objective is to…

Q: A payday loan company charges a $25 fee for a $550 payday loan that will be repaid in 17 days.…

A: Given, Payday loan company charges fee = $25 Payday loan amount = $550 Duration = 17 days

Q: Calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.)…

A: As per the simple interest loan, The formula to be used is: A=P(1+rt)

Q: Calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.)…

A: A loan is a form of financing money. The party who takes a loan is called the loan taker and the…

Q: Suppose you have borrowed $50 from a foreign lending institution. The loan requires a payment of 6…

A: Loan Amount  $                                   50.00 Time Period (Days) 6 Periodic Payment  $…

Q: Part 1 a. Calculate P1+r12n and call this number A.   A=enter your response here ​(Round to two…

A: Time value of money (TVM) is used to measure the value of money at different point of time in the…

Q: What is the loan payment on a fixed-rate/fixed-term mortgage loan of $250,000 at 8% for 15 years?…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: One of your customers has just made a purchase in the amount of $26,400. You have agreed to payments…

A: A loan is a debt amount borrowed by one person from another person at a predetermined financial…

Q: Assume you borrowed $20,000 and the terms of the loan include paying 4% interest for a period of 10…

A:

Q: How much is the exact interest earned if P4,500 is lent at 12% interest for 125 days?

A: Investment = P4,500 Interest rate = 0.12 or 12% Number of days = 125 days Interest earned = ?   In…

Q: You take out a loan of $1,250 under simple interest with 4.28% APR. The term of the loan is four…

A: Information Provided: Loan amount = $1250 APR = 4.28% Term = 4 years

Q: Assume that you take out a $3000 loan for 47 months at 6.5% APR. How much total interest will you…

A: Loan amount = $ 3000 Period = 47 Months APR = 6.5%   To Find: Total Interest paid

Q: If $900 is borrowed and the interest after 6 months is $63, what is the annual interest rate for a…

A: The term simple interest refers to the borrowing arrangement in which the interest is only charged…

Q: Assume that you take out a $2000 loan for 53 months at 5.5% APR. How much total interest will you…

A: Total interest paid = Future amount payable - Loan amount Amount payable for the loan borrowed is…

Q: Amount Rate Time ​$63,000 12​% 3 years table of monthly payments on a​ $1,000…

A: Loan amount (PV) = $ 63000 Annual interest rate  = 12% Monthly interest rate (R) = 12%/12 = 1%…

Q: Find the total amount that must be repaid on the following note described. $8,593 borrowed at 18.5%…

A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: Assume you take out a $3000 loan, compounded monthly, for 2 and a half years at 8.5% APR. What is…

A: Interest The cost of borrowing an amount is called interest. Interest is paid on a regular basis at…

Q: The exact interest on a loan of P3728 at 7.4% annual simple interest for 95 days is Round your…

A: The rate at which you borrow or lend money is called simple interest. If a borrower takes money from…

Q: What is the time period of a loan for $3,000, at 10% ordinary interest, if the amount of interest is…

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

Q: Find the total amount that must be repaid on the following note described.

A: Simple interest Amount = Principal Amount x  Rate of Interest x Time  Amount Repaid = Principal…

Q: In order to solve this question, would I use the compounded monthly formula and then subtract the…

A: We will do it in following steps:First we will find out what should be the monthly mortgage payment…

Q: To repay a $35,000 loan you will make 30 equal annual payments (starting one year from today) of…

A: Here,LoanAmount is $35000Number of Annual Payments is 30Annual Payment is $4,998.10

Q: Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments.…

A: Annual  Payment  = P * r * [(1+ r)n/({1 + r}n -1)]Where, P = Principal borrowed =  $14,000r =…

Q: Find the refund fraction on a 18-month loàn with interest of $2,852 if the loan is paid in The…

A: The refund fraction is the fraction or percentage that has to refund of the amount of loan.

Q: 3. In how many months will a loan of P1.0M be paid if the monthly payment is 35,738.21? Interest is…

A:

Q: For a personal loan amount of $5,000 @ 10.5% APR due in nine (9) months, a) what is the total…

A: Loan = 5000 Annual Percentage Rate = 10.5% N = Time Period = 9 months

Q: P(1+12) Calculate P1 Calculate = =. Let R = A В' and call this number A. (Round to two decimal…

A: Loan Payments: These are payments made by the borrower to the lender for amortizing the amount of…

Q: Suppose you get a student loan for $8,000, and your payments are deferred until after you graduate,…

A: Present value of Annuity  is the current value of payments made over a specified period of time at a…