You take a small business (SBA) loan for $90,000. The current annual interest rate on SBA loans is 6%. What is the interest amount and maturity value at the end of year one? What is the interest and maturity value at the end of 18 months?

Q: $5000 that you have to pay in 7 annual installments of $1100 each, the first one at the end of the…

A: The given problem relates to RATE function in excel. RATE function computes interest rate for no. of…

Q: You just took a $90,000, 10 years loan. The annual percentage rate (APR) is 8%. You are obligated to…

A: Calculation of quarterly payments of the loan. Formula A = P (r (1+r)^n) / ( (1+r)^n -1 ) A =…

Q: Suppose you take out a loan for 180 days in the amount of $11,500 at 14% ordinary interest. After 60…

A: A loan is an amount borrowed by a party in exchange for its repayment along with some interest.

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: Find the annual simple interest rate of a loan, where $800 is borrowed and where $888 is repaid at…

A: Given information: Principal (P) = $800 Amount repaid (A) = $888 Time in year (t) = (4 / 12) =…

Q: How much would she pay per month if she is to repay the loan in two years

A: We can determine the monthly payment by using the formula below:In the formula above r = monthly…

Q: Find the annual simple interest rate of a loan, where $500 is borrowed and where $570 is repaid at…

A: Amount repaid (FV) = $570 Amount borrowed (P) = $500 Period (n) = 4 Months   Annual simple interest…

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

A: Given:

Q: You borrow $8000 to help pay your college expenses. You agree to repay the loan at the end of 6…

A: Present Value (PV) of loan = $8,000Annual interest rate = 9% or 0.09Quarterly interest rate (r) =…

Q: Please show how to solve this problem using excel and please show the spreadsheet formulas.…

A: Part 2: Explanation:Step 1: Calculate the Monthly Interest RateThe annual interest rate is 7.5%. To…

Q: Find the annual simple interest rate of a loan, where $900 is borrowed and where $1008 is repaid at…

A: Amount Borrowed = $900 AmountRepaid after 18 months = $1008 Months = 18 YEars = 18/12 = 1.5 years…

Q: What is the Effective Annual interest Rate (EAR) of the following car loan?. The loan amount is…

A: Calculation of Effective Annual Rate By using Rate function of Excel=RATE(nper,pmt,pv)wherenper is…

Q: EZ Pay Loans will lend you $100 today with repayment of $117.50 due in 1 month. Determine the…

A: Given Information : Present Value of loan : $ 100 Future Value : $ 117.50 Time : 1 month

Q: Consider a home mortgage of $125,000 at a fixed APR of 12% for 30 years. a. Calculate the monthly…

A: Payment per period can be calculated using PMT function in excel.   PMT(rate, nper, pv, [fv],…

Q: What are the weekly payments on a 6-year, $80,000 loan if the interest rate is 14%?

A: Using excel PMT function

Q: Using a spreadsheet program, create an amortization schedule for a 30-year mortgage of $500,000 at…

A: A loan's or an intangible asset's book value can be periodically reduced over a certain period of…

Q: You borrow $1,000 from the bank and agree to repay the loan over the next year in 12 equal…

A: The Present Value of Ordinary Annuity refers to the concept which gives out the discounted or…

Q: What is the total interest paid on a loan of $5,000 at APR = 10% for one year.

A: Loan amount = $5000 Interest rate = 10% Period = 1 year

Q: What is the total interest paid on a loan of $5,000 at APR = 8% for one year.

A: Loan amount (LV) = $5000 Interest rate (r) = 8% Period (n) = 1 Year

Q: You borrow $8000 to help pay your college expenses. You agree to repay the loan at the end of 8…

A: From the given information, Principal (P) = $8000 Time (t) = 8 years r = 8% = 0.08 Compounded…

Q: You've borrowed $6,903.71 and agreed to pay back the loan with monthly payments of $270. Assume the…

A: Compound = Monthly = 12Present Value = pv = $6903.71Monthly Payment = p = $270Interest Rate = r = 15…

Q: A car loan of $28,641.62 is to be repaid with end-of-month payments of $582.15. If interest is 4%…

A: The number of months can be calculated with the help of NPER function of Excel.

Q: Please show how to solve this problem. Interest-only mortgage with monthly payments and loan amount:…

A: Calculate the monthly payment for the interest-only mortgage: Monthly Payment = Loan Amount × Annual…

Q: Find the length of the loan in months, if $800 is borrowed with an annual simple interest rate of…

A: Time value of money concept says that a sum of amount invested today will have more value in future…

Q: A student loan with a simple annual interest rate of 2.5% must be paid back in ten years. A student…

A: Given data, Interest rate(r)=2.5% or 0.025 per annum Total interest(I)=P2,000 Time(t)=10 years

Q: Find the annual simple interest rate of a loan, where $900 is borrowed and where $1008 is repaid at…

A: Simple interest is the type of interest that is calculated on the original amount of the loan and…

Q: r wants to buy a property for $375,000 and qualified for a 80 percent loan. A fixed-rate loan is…

A:

Q: $25,000 at a fixed APR of 9​% for 25 years.   a. Calculate the monthly payment. b. Determine the…

A: Loans are paid by the monthly payments and these are fixed payments that carry the payment for…

Q: 1. PEDRITO OBTAINS A LOAN FOR $140,000.00 FOR A TERM OF ONE YEAR AND EIGHT MONTHS WITH A SIMPLE…

A: Simple interest is a method of calculating interest on a principal amount without considering the…