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- At what rate of interest will an investment double itself in 10 years?Ella Stein paid $187.50 interest on a loan of $12,000 for 3 months. What was the rate of interest she paid?Karen and Sophia want to buy a $225,000 home. They plan to pay 20% as a down payment, and take out a 30 year loan at 3.95% interest for the balance. a) How much is the loan amount going to be? b) What will the monthly payment be for Karen and Sophia? c) How much of the first payment is interest? d) What is the total of the payments? e) How much interest was paid?
- Please use excel and explain how you solved it step by step thank you What is the present value of an investment of $5,000 per year for 8 years with 10% interest?A department store has offered you a credit card that charges interest at 1.05% per month, compounded monthly. a. What is the nominal interest (annual percentage) rate for this credit card? b. What is the effective annual interest rate?QUESTION 1 Muhammad takes out a loan of $ 2,130, at 8% simple interest, for 8 years. How much will he pay back at the end of year 8? QUESTION 2 Calculate the amount of interest on an investment of AED 103,971 at 8% simple interest for 5 years. QUESTION 3 If you deposit today $7,335 in an account for 6 years and at the end accumulate $10,885, how much compound interest rate (rate of return) you earned on this investment ? QUESTION 4 You will deposit 12,025 at 10% simple interest rate for 9 years, and then move the amount you would receive to an investment account at 12 % compound rate for another 3 years. How much money would you have at the end of the entire period ?
- John paid $500 per month for 20 years to pay off a mortgage on his house. If his down payment was $5,000 and interest rate was 6% compounded monthly, what was the purchase price of this house? do it fastURGENT! PLEASE WRITE LEGIBLE. Question Suppose we deposit $1500 into an account that pays a simple interest rate of0.5% each month. Find the amount of interest earned at the end of 3 years?Mr. Benedito, a grocery store owner, borrows $50,000.00 from a loan shark, handing him a $77,000.00 promissory note with a maturity of 6 months. What is the annual and monthly simple interest rate charged by the loan shark?
- Edward wants to take a long trip around Europe 7 years from now. He estimates that he will need $12,000 to finance the trip. Edward has found a stock portfolio that generates a 8% yearly rate of return. How much does Edward need to invest today to afford the trip? Round to the nearest dollar, do not enter a dollar sign.Lane French had a bad credit rating and went to a local cash center. He took out a $100 loan payable in two weeks at $113.50. What is the percent of interest paid on this loan? (Do not round intermediate calculations. Round your answer to the nearest whole percent.) Percentage of Interest? %Gabe purchases a $600 bond that has 6 remaining semi-annual 7% coupon payments for $510. What would be his return per half year period?