You borrow $700 and promise to pay back $749 at the end of 1 year. Find interest rates earned.
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- You borrow $700 and promise to pay back $749 at the end of 1 year. Find interest rates earned.You borrow $700 and promise to pay back $749 at the end of 1 year. Find interest rates earned.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 open a savings account that compounds interest 3 annually with an APR of 3% . If you initially deposit $1,000 in your account and leave it to accumulate interest, what will your balance be at the end of 1 year?Find the interest rates earned on each of the following. Round your answers to the nearest whole number. You borrow $650 and promise to pay back $793 at the end of 1 year. % You lend $650 and the borrower promises to pay you $793 at the end of 1 year. % You borrow $90,000 and promise to pay back $187,376 at the end of 6 years. % You borrow $11,000 and promise to make payments of $3,359.50 at the end of each year for 5 years.You borrow a GPM of $120,000 with annual payments and 30-year term. The interest rate is 10%. The payment rises by 2% each year. please show how to solve using excel to answer a. b. and c. below a. What are the annual payments for years 1 to 30? b. What is remaining balance at the end of each year? c. What are the interest payment and principal payment for years 1 to 30?
- 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 you take out an auto loan for $25,500 over a period of six years at an APR of 7.5%. Determine your monthly payments, the total amount paid, and the percent paid toward interest.Suppose that you deposit $7000 in a savings account that pays 4% annual interest, with interest credited to the account at the end of each year. Assuming that no withdrawals are made, complete the following: a. Find the balance in the account after 5 years. b. Find the balance of the account after 9 years and 10 months.
- You borrow $11,000 and promise to make payments of $3,359.50 at the end of each year for 5 years. What is the interest rate earned? Round your answers to the nearest whole numberProvide answer this financial accountingYou invest $24,050.85 in a savings account today at 5% annual interest. How much will be in your account in 15 years. Round to the nearest dollar and use the $ symbol. use a comma if applicable