a) What is the rebate fraction of a 36 month loan paid off after the 15th payment?
Q: On January 23 of a non-leap year, a loan is taken out for $15,230 at 8.8% simple interest. What is…
A: Simple interest can be calculated by using this formula Simple interest =Principal*Rate*Time
Q: (b) What is the rebate fraction of a 54 month loan paid off after the 16th payment?
A: Solution: The rule of 78 applies added to weight to months in the earlier cycle of a loan. It is…
Q: Find the amount due if $200 is borrowed for 4 months at 17% simple interest
A: Amount due refers to the net amount that needs to be either paid by the borrower to the lender or to…
Q: The required end of month payment on a 3-year loan bearing interest at 8.5% compounded monthly is…
A: The original amount of loan is calculated as present value of monthly payments
Q: 1. What is the market rate of interest at which the lender can loan proceeds if the borrower prepaid…
A: Market interest rate is the rate which is prevailing in the market at present.
Q: 4. You borrowed $10,000 on a 10% discounted loan for a period of 8 months. a. What is the loan's…
A: Mortgage/ Borrowings: A mortgage represents a credit given to the borrower by the lender for the…
Q: Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to…
A: Interest is the amount charged by bank in consideration of advancing loan to its borrowers. It is…
Q: (a) What is the rebate fraction of a 36 month loan paid off after the 12th payment? (b) What is the…
A: Rebate: It is the amount of money that is returned or credited to the customer in regard to a…
Q: If $500 is borrowed and the interest after 18 months is $45, what is the annual interest rate for a…
A: Given:
Q: What is the maturity date of a loan for $3,000 at 15% exact interest taken out on June 4? The amount…
A: in this we have to calculate the period of loan.
Q: Calculate the missing information for the installment loan that is being paid off early. Sum-of-the-…
A: Payments Remaining = Total payments - Payments Made Sum of digits is to be calculated by n(n+1) /2
Q: Calculate the missing information for the installment loan that is being paid off early. Sum-of-the-…
A: Number of payments = 18 Payments made = 3
Q: Mr X borrowed P100k at 5% per month payable in 60 equal end the month payments. a) How much of the…
A: Loan = 100,000 Annual Rate = 5% Interest Rate per month = Annual Rate / 12 = 5%/12 per month N = 60…
Q: Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to…
A: In the given question we need to compute the time (in days) for the loan from given details :…
Q: What is the maturity date of a loan for $8,000 at 15% exact interest taken out on June 5?
A: Given information is: Loan amount = $8000 Interest rate = 15% Interest amount = $240
Q: original
A: Formula to calculate the loan amount is: PV = FV/(1+i)^n Where PV is the present value FV is the…
Q: If a company has a long-term loan that has only two yearsremaining until it matures, how is it…
A:
Q: Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to…
A: Interest is the amount charged by bank in consideration of advancing loan to its borrowers. It is…
Q: A payday loan company charges 5% interest for a 2 week period. What would be the annual interest…
A: Interest Rate = 5%Period of Interest Charge = 2 WeeksNumber of Weeks in a Year = 52 Calculation of…
Q: What would the loan payment amount and the interest payed for Kevan’s loan be if the PV=8500,…
A: The term loan payment amount refers to the total amount paid by an individual to pay off the loan…
Q: A financing company charges 1.5% per month on a loan. Find the equivalent effective rate of…
A: An interest rate that is modified to eliminate the impacts of inflation in order to reflect the…
Q: Find the amount (in $) of interest on the loan.
A: Interest: It refers to the monetary charge paid by the borrower to the lender for taking a loan. It…
Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 3 years
A: Compound interest is the interest on a loan or deposit calculated based on both the initial…
Q: due on a loan of $600 at 15.75% interest after 21 m
A: Given Principal Amount = $ 600 Period = 21 Months Interest Rate = 15.75% pa or 1.31% pm FV=…
Q: a. What was the payment size? Round to the nearest cent b. What was the size of the interest portion…
A: Amortization: It represents the process of paying the loan by making periodic payments. These…
Q: what is the due date for a loan dated Nov 7 for 120 days?
A: Due date is the date on which the loan will mature. Loan is taken on November 7 for 120 days.
Q: of money will be required to settle an obligation of 10,500 on April 1, 1992, if the loan is made on…
A: In this we need to find out the future value of loan.
Q: T Find the amount of interest and the maturity value of the following loan. Principal Rate (%) Time…
A: Following is the answer to the given question
Q: (a) What is the rebate fraction of a 36 month loan paid off after the 13th payment? (b) What is…
A: Total loan period = 36 months Months completed =13 months Remainig months = total loan period -…
Q: ABC can take a 45-day loan with a 15% interest deducted in advance, to be reapplied each time. How…
A: Introduction: Interest Rate: Any extra amount which is paid against the money borrowed is referred…
Q: a. What are the monthly principal and interest payments for each loan? b. What is the total amount…
A: Loan Amortization: It is the process of paying the loan amount by the borrower in periodic payments…
Q: What is the time period of a loan for $2,250, at 13% exact interest, if the amount of interest is…
A: Loan = 2250 Interest Rate = 13% Interest Amount = 110.59
Q: What is the maturity date of a loan for $6,000 at 15% exact interest taken out on June 6? The amount…
A: Simple Interest = Principal × Rate × Time $180 = $6,000 × 15% × Time Time = ($6,000 × 15%) / $180…
Q: Calculate the missing information for the installment loan that is being paid off early. Sum-of-the-…
A: Number of payments = 36 Payments made = 25
Q: asssuming that the interest is the only finance charge, how much interest would be paid on 5,000…
A: The question is based on the concept of Loan and amortization.
Q: What is the interest if $200 is borrowed for 24 months at 10% simple interest? Interest = $
A: Given Principal = $200 Rate = 10%
Q: What is the total payback amount of the loan? What is the amount of each payment? /month What is the…
A: Time value of money (TVM) refers to the method used to measure the amount of money at different…
Q: Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $70,000 8…
A: Interest Amount = Principal * Interest rate * Number of months / 12
Q: If you paid $68 to a loan company for the use of $1043 for 39 days, what annual rate of interest did…
A: Interest = Principle * Interest rate * Time of loan / 360 days
Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 4 years.
A: Loan amount = $5000 Interest rate = 6% Period = 4 Years
Q: For a personal loan amount of $5,000 @ 10.5% APR due in nine (9) months, a) what is the total…
A: Loan = 5000 Annual Percentage Rate = 10.5% N = Time Period = 9 months
Q: What is the maturity date of a loan for $3,000 at 15% exact interest taken out on June 5? The amount…
A: In this question maturity date is to be calculated. Maturity date is the date at which the loan…
Q: ( A)What is the rebate fraction of a 36 month loan paid off after the 12th payment? (b) What is…
A: Rebate fraction can be calculated by using this equation Rebate fraction =Sum of digit of remaining…
Q: Under what conditions is the current portion of long-term debt reported as current debt? to. If it…
A: Working capital is the excess of current assets over current liabilities.
Q: (a)What is the rebate fraction of a 36 month loan paid off after the 12th payment? (b) What is the…
A: Formula used Rebate Fraction = Sum of remaining periods/Sum of total periods
Q: A car loan of $37,412.98 is to be repaid with end-of-month payments of $725.06. If interest is…
A: Loan amount (PV) = $37,412.98 Monthly payment (P) = $725.06 Interest rate = 5% Monthly interest rate…
Q: a) What is the length of the loan? b) month to pay off the entire loan balance? What is the total…
A: Present Value of Annuity: It represents the present worth of future annuity payments such as…
Q: The simple interest rate charged If the principal and interest are to be paid in seven months, how…
A: We need to use simple interest formula to calculate simple interest amount. The formula is Simple…
Q: A man wants to borrow $1500 at 10% interest rate from October 1 through December 23. How much will…
A: Interest is an additional amount which is paid by borrower to the lender on the basis of time…
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- What is the principal loan balance after 7th monthly amortization payment?Determine A) Determine the monthly interest rate i charged by Coco-me-Loan B) How much is the principal repaid during the 4th month? C) What is the principal loan balance after 7th monthly amortization payment?To compute for the annual interest payments of a loan, the principal amount is multiplied by: a. Market rate b. Nominal rate c. Amortized rate d. Effective rate
- Which of the following refers to the ratio of the interest to the principal repayment on an annual unpaid loan? A. it increases as the loan gets older О в. it decreases as the loan gets older O c. it remains constant over the life of the loan O D. it changes according to the level of market interest rates during the life of the loanWhich of the following is true of a fully amortized loan? A. The amount of the payment applied to the principal remains the same during the loan period. B. Equal amounts of the payment are appiled to the principal Interest, taxes, and insurance. C. Additional payments applied to the interest during the loan period reduce the number of monthly payments required. D. Additional payments applied to the principal during the loan period reduce the number of monthly payments requiredWhich of the following statement is true of amortization? The computation of loan amortization is wholly based on the computation of simple interest. Amortization solely refers to the total value to be paid by the borrower at the end of maturity. The amortization schedule represents only the interest portion of the loan. The amortization schedule provides principal, interest, and unpaid principal balance for each month. In a typical loan amortization schedule: The amount of money paid towards reducing the loan balance decreases over time. The amount of interest paid each period does not remain constant. The amount of each payment does not remain constant. The amount of interest paid each period increases over time.
- What are the Effects of Maturity on Monthly Payments on Fully Amortizing Loans?how are the origination fees borne by the borrower accounted for in relation to the initial measurement of a loan receivable a. Added to initial measurement of the loa receivable b. Deducted from the initial measurement of the loan receivable c. Ignored d. Either added to or deducted from the initial measurement of the loean receivable if the origination fees are at leasr 10% of the proncipal amount of the loanInterest on a note payable can be calculated by multiplying the amount owed by the interest rate by the fraction of year that represents the time elapsed since borrowing. a. True b. False
- pls refer to the image attached, 1. suppose that you have the capacity to pay, would you rather borrow a loan that is amortized monthly, or one that is amortized quarterly? 2. what is your considerations when availing a loan? (quantitative or qualitative considerations) Discuss.Calculate the missing information for the installment loan that is being paid off early. Sum-of-the- Sum-of-the- Number of Payments Payments Rebate Payments Remaining Digits Payments Digits Number Remaining Made Fraction of Payments 18The loans which are to be repaid within a short period (a year or less) are referred to as: O a. Fixed liabilities O b. Long-term liabilities O c. Contingent liabilities O d. Current Liabilities