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A: Simple interest can be calculated by using this formula Simple interest =Principal*Rate*Time
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A:
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A: in this we have to calculate the period of loan.
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A: So Details provided are Loan Amount = $9600 Interest Rate = 15%p.a Tenure of the Loan = 45 Months
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A: Excel Spreadsheet:
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Q: What is the maturity date of a loan for $8,000 at 15% exact interest taken out on June 5?
A: Given information is: Loan amount = $8000 Interest rate = 15% Interest amount = $240
Q: What is the monthly payment on a loan of $5,000 at APR = 6% for 4 years.
A: Loan amount (LV) = $5000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Period = 4…
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Q: What is the monthly payment on a loan of $5,000 at APR = 10% for one year.
A: Loan amount = $5000 Interest rate = 10% Monthly interest rate = 10%/12 = 0.833333333333333% Number…
Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 5 years.
A: Compound Interest = P(1+r/n)^nt - PWhere P = Principal = $5,000R = Rate on interest = 6%N = number…
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Q: What is the maturity date of a loan for $6,000 at 15% exact interest taken out on June 7? The amount…
A: Loan amount = $ 6,000 Interest rate = 15% Interest amount = $ 180 Loan date = June 7
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A: Loan = 2250 Interest Rate = 13% Interest Amount = 110.59
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A: Loan amount = $5000 Interest rate = 6% Period = 1 Year
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A:
Q: What is the maturity date of a loan for $6,000 at 15% exact interest taken out on June 6? The amount…
A: Simple Interest = Principal × Rate × Time $180 = $6,000 × 15% × Time Time = ($6,000 × 15%) / $180…
Q: What is the monthly payment on a loan of $5,000 at APR = 6% for one year.
A: Loan amount (PV) = $5000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Number of…
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A: Given Principal = 1800 Interest = 50 Days = 230
Q: What is the maturity date of a loan for $9,000 at 15% exact interest taken out on June 4? The amount…
A: Given: Principal amount =$9000Interest rate =15% Loan taken on June 4 Interest on loan per annum…
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A: Loan $100000 Interest 4.5% APR Interest annual=100000*4.5%=$4500 Monthly=4500/12=$375
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A: Interest amount = Mortgage amount * Interest rate Interest amount =$184,800 * 7%/12 Interest amount…
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Q: What is the monthly payment on a loan of $5,000 at APR = 6% for 5 years.
A: Loan amount (PV) = $5000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Period = 5…
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What is the maturity date of a loan for $3,000 at 15% exact interest taken out on June 5? The amount of interest on the loan was $90.
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- What is the maturity date of a loan for $6,000 at 15% exact interest taken out on June 6? The amount of interest on the loan was $180.What is the maturity date of a loan for $9,000 at 15% exact interest taken out on June 4? The amount of interest on the loan was $270. --Select---Simple Interest: A $45,000 loan at 3.75% dated June 10 is due to be paid on October 11. Using ordinary interest, what is the amount of interest?
- Find the interest on a loan of $3300 at 7% if I borrow on April 7 and repay on June 2 using the following THREE time methods: Exact Time, Ordinary Time, AND Banker's TimeOn January 23 of a non-leap year, a loan is taken out for $15,230 at 8.8% simple interest. What is the maturity value of the loan on October 23?Interest is $405 on a principal balance of $5,000; assuming a 7 month loan what is the rate?
- using the ordinary interest method, find the amount of interest on a loan of $5,000 at 10 1/2% interest, for 274 daysWhat is the time period of a loan for $2,250, at 13% exact interest, if the amount of interest is $110.59? (Round to the next higher day.) O 127 days 137 days 139 days 153 daysFind the length of the loan in months, if $800 is borrowed with an annual simple interest rate of 17% and with $924.666666666667 repaid at the end of the loan. Length of the loan = months.
- If $800 is borrowed and the interest after 6 months is $44, what is the annual interest rate for a simple interest loan?what is the due date for a loan dated Nov 7 for 120 days?Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 3% and with $517.5 repaid at the end of the loan.