You are quote for a loan as 14.5% per year, compounded monthly. What is the effective yearly interest rate (APY) to 1 decimal point?
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You are quote for a loan as 14.5% per year, compounded monthly. What is the effective yearly interest rate (APY) to 1 decimal point?
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- Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?What is the effective monthly interest rate for a loan with a 12% nominal annual interest rate if the loan is compounded (a) semi-annually, (b) monthly, or (c) continuously? (to 5 decimal places)If $900 is borrowed and the interest after 6 months is $63, what is the annual interest rate for a simple interest loan? Rate= %
- Suppose that one has a bank loan for P15,584.48, which is to be repaid in equal end-of-month installments for 9 years with a nominal interest rate of 0.114 compounded monthly. What is the amount of each payment?3. a) Calculate the interest rate applied in a loan of P1000 with repayment of P1100 and duration of 10 months. b) What is the monthly interest, daily interest, equivalent to the yearly interest found in a)?What is the effective interest rate (APY) for a loan of $8,500 at 12% APR compounded monthly? use the formula method.
- 6.I need help with finance homework questions asap. (rounded to 2 decimal places) What is the effective annual rate on a loan with a quoted rate of 7.45% compounded semi-annually?If $800 is borrowed and the interest after 6 months is $44, what is the annual interest rate for a simple interest loan?If you borrow $7,500 at $550 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.) a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective Rate of Interest % % %
- Given the following loan information: Annual loan payment = $47,100 Number of remaining periods = 6 Interest rate = 12% What is the book value of the loan?1. What is the simple interest due on a 15 days loan of P75,000.00 if the annual rate is 6%.An investment pays you 9% interest, compounded quarterly. What is the periodic rate of interest? What is the nominal rate of interest? What is the effective rate of interest?