A student obtains a loan for $7,250. How much money does the student actually receive, assuming a loan fee of 1.05%? (Round your answer to the nearest cent.)

Q: Find the accumulated amount at the end of 11 months on a $2100 bank deposit paying simple interest…

A: Given, period=11 months Amount= $2100 interest at a rate of 9%/year. To find the accumulated amount…

Q: Legitimate Financial Services made a loan at 9.75% interest for 259 days. If the amount of interest…

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Q: The financial officer of Toys and Noise arranges a loan of $8,500, at 8.5% interest, for 31 months.…

A: Given information P=$8,500 Rae of interest r=8.5% Since, time t=31 months Hence, t=3112 years Use…

Q: You can get a car loan with a term of three years at an apr of 3%. If you can afford a monthly…

A: Given: interest rate per annum is= 3%, monthly payment= $300, time=3 years To find the amount of…

Q: You make an offer of $324,000 on a house and it is accepted. You receive a loan of 6.5% for 30…

A: You make an offer of $324,000 on a house and it is accepted. You receive a loan of 6.5% for 30…

Q: Patricia and Joe Payne are divorced. The divorce settlement stipulated that Joe pay $540 a month for…

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Q: Find the interest on the following loan. $5386 at 6%; loan made on August 11 and due December 16 The…

A: We have to Find the interest on the following plan $5386 at 6%,loan made on August 11 and due on…

Q: Find the minimum payment on an unpaid balance of $1,416.02. Assume that the minimum payment on a…

A: Solution: Given, Unpaid balance = $1,416.02 The minimum payment on a credit card is the greater of…

Q: Find the monthly payment for the loan. Used car financing for $600,000 for 25 months at 11.75%.…

A: here we have to find the monthly payment for the loan. PV (present value of car) = $600,000 n(number…

Q: d 500 as a monthly payment for a new car. Your bank offers car loans at 4.5% APR for 3 years. How…

A: Introduction: The formula for the monthly payment is given by, M=Pr1+rn1+rn-1 Where P is amount of…

Q: You take out a 7 month, $2,000 loan at 8% annual simple interest. How much would you owe at the end…

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Q: Find the amount of simple interest on a loan of $2,500 at 4.22% interest for 13.75 months. (Round to…

A: Interest=$2500*12.75 months*4.44%

Q: You purchase a sofa costing $1,080 by taking out a 8% add-on interest installment loan. The loan…

A: You purchase a sofa costing $1,080 by taking out a 8% add-on interest installment loan. The loan…

Q: Leona Jefferson purchased a home and obtained a 25-year loan of $438,000 at an annual interest rate…

A: Given that Leona Jefferson purchased a home and obtained a 25-year loan of $438,000 at an annual…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: The owner of a hot dog stand receives a loan of $4,750 at 6.25% for 9 months. Find the amount of…

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Q: Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments…

A: Consider the provided question, Borrowers who have taken installment loans sometimes wish to prepay…

Q: The face value of a 97-day Treasury bill is $30,000. The interest rate is 2.96%. The purchaser buys…

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Q: You have an opportunity to purchase a bond that will pay out $734 in 14 months.  If you would like…

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Q: Claire wants to buy a new generator. The generator costs $1500. Claire decides to finance the…

A: The objective of this question is to calculate the monthly payment Claire has to make for the…