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              %

Amortizing Loan Consider a 4-year amortizing loan. You borrow $351,000 initially, and repay it in four equal annual year-end payments. a. If the interest rate is 4.55%, calculate the annual payment. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual payment b. Prepare an amortization schedule. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Time 0 Loan Balance Year-End Interest Due on Balance Year-End Payment Amortization of Loan $ $ $ $ 1234

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Assuming that interest is the only finance charge, how much interest would be paid on a $5,000 installment loan to be repaid in 24 monthly installments of $235.54? Round the answer to the nearest cent. $   What is the APR on this loan? Round the answer to 2 decimal places.     %

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NOTETOR THE What payment is required to pay off a $91,000 loan in nine years if the interest rate on the loan is 5.4% compounded Bimonthl not round intermediate calculations and round your final answers to 2 decimal places.) Payment Freq Required payment a. Annually $ b. Semiannually $ c. Quarterly $ d. Monthly $

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Q 2 To borrow $750, you are offered an add on interest loan at 9.1 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.) EQUAL PAYMENTS?   Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round intermediate calculations and round your answer to 2 decimal places.) EAR?

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Q11 To borrow $1,900, you are offered an add-on interest loan at 6 percent. Three loan payments are to be made, one at four months, another at eight months, and the last one at the end of the year.   Compute the three equal payments. (Round your answer to 2 decimal places.) THREE EQUAL PAYMENTS?