You are finalizing a bank loan for $180,000 for your small business and the closing fees payable to the bank are 1.7% of the loan. After paying the​ fees, what will be the net amount of funds from the loan available to your​ business?

Q: Suppose a man took out a 30-year loan with an annual rate of 6% to put an addition on his house. His…

A: Loan year=30 years Interest=6% Computer cost =$ 1,500 Here,we need to find amount of interest paid…

Q: Starting next year, you will need $15,000 annually for 4 years to complete your education. (One year…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Solve the following problems by showing your formula and computation: 1. what is the simple…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: If US dollars gets lower interest rates in the United States. How would this affect a fundamental…

A: There are two methods to calculate the future or forward currency exchange rates - Interest rate…

Q: You just borrowed $15,000 from a finance company to start a business. If you are required to repay…

A: The objective of the question is to calculate the expected real rate of interest given the amount…

Q: Andrew has purchased a new car. He want to set aside enough money in a bank account to pay the…

A: Present value of future cash flows Discount rate 5%

Q: Would you rather have a savings account that pays 5% interest compounded semiannually or one that…

A: Let assume $1000 invested for 1 years

Q: If you have $10,000 that you want to save for 3 years, which of the following banks would you choose…

A: TVM refers to the capacity of money to earn interest because money earned earlier is considered more…

Q: Troy wants to buy an additional screen for his computer which he saw in an advertisement for RM2500…

A: In hire purchase agreement the ownership is transferred to the borrower only after the loan is…

Q: Explain Payment Caps and Negative Amortization?

A: Payment Caps: A payment cap is a customer protection that bounds the amount that your monthly…

Q: If your starting net worth is $20,000, how much will you be worth after the following transactions:…

A: Given Networth = $20,000 Net worth is to be calculated in the following way = Total assets - Total…

Q: Suppose you have a job that pays you $15,000 a year. You receive a credit application in the mail…

A: Given situation: Annual pay = $15000 Pre-approved loan = $3000 Required: Minimum income of $18000…

Q: Your local bank pays 4% interest annually. You have $5,000 invested in the bank. How long will it…

A: Given: Interest rate = 4% Present value = $5,000

Q: Let's assume you finance your house through Wells-Fargo Bank. Below, please find the…

A: The objective of this question is to calculate the finance charge, which is the total amount of…

Q: You deposit $400 each month into an account earning 3% interest compounded monthly. How much will…

A: The value of money changes with time. It is the concept that worth of a dollar received today is…