A loan is offered with monthly payments and a 15.25 percent APR. What’s the loan’s effective annual rate (EAR)? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Effective annual rate              %

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Q: To borrow $1,200, you are offered an add-on interest loan at 9 percent. Two loan payments are to be…

A: Borrowed Amount = $1,200 Interest Rate = 9% Time Period = 1 Years

Q: A loan is offered with monthly payments and a 9.25 percent APR. What’s the loan’s effective annual…

A: APR = 0.0925 or 9.25% Number of compounding (n) = 12 Effective annual rate (EAR) = ?   Effective…

Q: What is the annual interest rate if a simple interest loan of $10,000 for 4 years charges a total of…

A: We need to use simple interest formula to solve this question Simple interest =Principal×Rate×Time

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Q: ques 7

A: PV=PMTr1−(1+r)−n​PV (present value of the loan)PMT (annual payment)n (number of payments)r (interest…

Q: A loan is offered with monthly payments and a 14.25 percent APR. What’s the loan’s effective annual…

A: Annual rate (r) = 0.1425 or 14.25% Number of compounding (n) = 12 EAR = ?

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Q: You have taken a personal loan from Bank Muscat for 15,000 OMR and charged with an interest rate of…

A: Loan Amortization Table  is as under -

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A: Since you have posted multiple questions, we will answer the first one for you. If you want a…

Q: A loan is offered with monthly payments and a 8.50 percent APR. What's the loan's effective annual…

A: Effective annual rate is the rate that is actually earned. It can be calculated Effective annual…

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A: The open ended credit loan you have to pay interest on balance amount used and calculation are done…

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A: Loan fee=$27Loan amount=$185Period=2 weeks

Q: Melvin availed a loan from a bank that gave him an option to pay Php 14,600 monthly for 2 years. Th-…

A: Present value of all monthly payments considering the interest rate and period of payment would give…

Q: Current Attempt in Progress Abe is offered a loan of $24,000 that requires 60 monthly payments of…

A: It looks like you're trying to find the effective annual interest rate for a loan of $24,000 with…

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A:

Q: Straight bank loan. Right Bank offers EAR loans of 9.44% and requires a monthly payment on all…

A: The amount of loan repayment which is required to be paid on a monthly basis is known as monthly…

Q: Straight bank loan. Right Bank offers EAR loans of 8.74% and requires a monthly payment on all…

A: Monthly payment formula: PMT = principal ×aprm1-1+aprm-m×n where, m = frequency of compounding n =…

Q: Jaspreet received a 15 year loan of $300,000 to purchase a house. The interest rate on the loan was…

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Q: A design studio purchase a camera. If they settled the loan in 2 years by making quarterly payments,…

A: Loans are to paid by the periodic payments that carry the payment for loans and payment for interest…

Q: A payday loan company charges a $25 fee for a $550 payday loan that will be repaid in 17 days.…

A: Given, Payday loan company charges fee = $25 Payday loan amount = $550 Duration = 17 days

Q: For the following loan, make a table showing the amount of each monthly payment that goes toward…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: Construct an amortization schedule for a $1.000, 3.5% annual rate loan with 3 equal payments. The…

A: Annual Payment = [PV of Annuity * r] /[1 - (1 + r)-n]

Q: A loan is offered with monthly payments and a 9.75 percent APR. What's the loan's effective annual…

A: APR = 0.0975n = Number of compounding 12 (i.e. monthly compounding)EAR = ?EAR is annual rate after…

Q: Prepare an amortization schedule for a three-year loan of $96,000. The interest rate is 9 percent…

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Q: A loan is offered with monthly payments and a 11.75 percent APR. What's the loan's effective annual…

A: Annual rate (r) =11.75%Number of compounding (n) = 12Required:EAR = ?

Q: A student has a total of $3,000.00 in student loans that will be paid with a 48-month installment…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: 4. Calculate the effective annual rate of a loan that charges 1.2% per month. Select one: A. 15.4%…

A: The objective of the question is to calculate the effective annual rate (EAR) of a loan that charges…

Q: Find the principal of a loan in which the interest rate is 13% per month, payable monthly, and in…

A: The principal of a loan is the initial amount of money that is borrowed or lent. It is the original…

Q: A loan is offered with monthly payments and a 8.00 percent APR. What's the loan's effective annual…

A: We need to use effective annual rate formula below.Effective annual rate (EAR) = Wherer= annual…

Q: You wish to buy a $21,500 car. The dealer offers you a 6-year loan with a 7.2 percent APR. What are…

A: Given Price of car is $21500 Term is 6 years rate is 7.2%

Q: W WA Finance 2-Borrowing Money and Pa Assume that you take out a $4000 loan for 30 months at 8.5%…

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Q: K For the following annuity due, determine the nominal annual rate of interest. Term Present Value…

A: An annuity is a series of periodic payments which are provided in return for a lump sum amount paid…

Q: What will be the compounded amount on a loan of P1.500 at 12% interest compounded quarterly for I…

A: Loan amount (PV) = P 1500 Annual interest rate = 12% Quarterly interest rate (R) = 12%/4 = 3% Period…

Q: A loan is offered with monthly payments and a 9.00 percent APR. What's the loan's effective annual…

A: compound = n = monthly = 12 Annual Percentage Rate = APR = 9%

Q: Compute the size of the final payment for the following loan. Principal Periodic Payment Payment…

A: Final payment refers to the amount of principal along with interest accrued and unpaid on the loan…

Q: Find the APR (true annual interest rate), to the nearest 0.01%, for the loan given below. Purchase…

A: The question is based on the concept of Financial Management.

Q: Determine the monthly payment for the installment loan. Amount financed (P): $900 Annual Percentage…

A: P = $900 R = 0.075 or 7.5% Monthly rate (i) = 0.00625 (i.e. 0.075 / 12) Monthly period (p) = 36…

Q: What monthly payment is required to pay off a $55,000 loan in six years if the interest rate on the…

A: Monthly payment refers to the amount that is being paid on monthly basis for the repayment of the…

Q: You have an annual installment loan of Rs.150,000 from ABC bank for 5 years. If the loan requires an…

A: loan 150000         year 5         rate 5%                     year beginning of year…

Q: What is the EAR?

A: Interest = loan amount * interest rate = $10,000*0.13 = $1,300Next, we calculate the points paid on…

Q: What is the effective annual rate on a loan that charges 8.2 percent, compounded quarterly? Multiple…

A: Effective annual rate is computed by following formula:-Effective annual rate =  - 1 whereA =…