You borrow $700 and promise to pay back $749 at the end of 1 year. Find interest rates earned.
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- Find the interest rates earned on each of the following. Round your answers to the nearest whole number. You borrow $680 and promise to pay back $782 at the end of 1 year. %You borrow $18826 to buy a car. You will have to repay this loan by making equal monthly payments for 5 years. The bank quoted an APR of 12%. How much is your monthly payment (in $ dollars)? $_______Suppose that you borrow $17,000 for five years at 6% toward the purchase of a car. Find the monthly payments and the total interest for the loan. The monthly payment is $
- Suppose that you borrow $11,000 for four years at 6%toward the purchase of a car. Find the monthly payments and the total interest for the loan.Suppose you want to have $400,000 for retirement in 10 years. Your account earns 9% interest. Feel free to use the Online Basic Financial Calculator a) How much would you need to deposit in the account each month? S b) How much interest will you earn? SHelp
- Your uncle lends you $2,000 less $100 (interest at 5 percent), and you receive $1,900. Use the APR formula to find the true annual percentage rate. Assume you repay the entire loan in one year. What is the Annual Percentage Rate?Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0". Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ fill in the blank 60 $ fill in the blank 61 $ fill in the blank 62 $ fill in the blank 63 $ fill in the blank 64 2 $ fill in the blank 65 $ fill in the blank 66 $ fill in the blank 67 $ fill in the blank 68 $ fill in the blank 69 3 $ fill in the blank 70 $ fill in the blank 71 $ fill in the blank 72 $ fill in the blank 73 $ fill in the blank 74 4 $ fill in the blank 75 $ fill in the blank 76 $ fill in the blank 77 $ fill in the blank 78 $ fill in the blank 79You invest money into an account that earns interest at an unknown annual ratecompounded continuously. It is known that after 10 years, the amount of money inthat you have in the account doubles. Find the annual rate. Your answer is allowedto include logs if necessary.
- Suppose that you borrow $20,000 for four years at 8% toward the purchase of a car. Find the monthly payment and the total interest for the loan.The following loan is a simple interest amortized loan with monthly payments. $5000, 91%, 4 years (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $ (b) Find the total interest for the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest $Use the ordinary interest method to compute the time (in years) for the loan. Round your answer up to the next highest year when necessary. Principal Rate (%) $25,000 Need Help? 8.6 Read Time Interest years. $10,750