calculate the interest, purchase price, and effective interest rate of a $50,000, 2.3%, 26 week treasury bill. Round the effective interest rate to the nearest hundredth of a percent.
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calculate the interest, purchase price, and effective interest rate of a $50,000, 2.3%, 26 week treasury bill. Round the effective interest rate to the nearest hundredth of a percent.
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- A loan of $1000 is paid off in 12 monthly payments of $120 each. What is the effective annual interest rate of this loan? Provide answer in percentage and round to the nearest decimal, e.g., 30%.Find the purchase price of a 91-day treasury bill that matures at $5000 if the T-bill is sold to yield an annual interest rate of 4.5%.If you purchase $24,000 in U.S. Treasury Bills with a discount rate of 4.3% for a period of 26 weeks, what is the effective interest rate (as a %)? Round to the nearest hundredth percent.
- Consider a student loan of $12,500 at a fixed APR of 12% for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is S (Do not round until the final answer. Then round to the nearest cent as needed.) b The total payment over the term of the loan is $ (Round to the nearest cent as needed) c. Of the total payment over the term of the loan, % is paid toward the principal and (Round to the nearest tenth as needed ) % is paid toward interest.Calculate the price of a 180-day Treasury bill purchased at a 5% discount rate if the T-bill has a face value of £5,000.Compute the monthly payment on a $65,000 loan if the principal and interest are to be repaid in 84 equal installments with the first payment due one month from now. The annual interest rate is 8.50%.
- What is the APR of return for a $10,000 treasury bill maturing in 2 months if you pay $9,800 for it?If you borrow $5,300 at $900 interest for one year, what is your annual interest cost for the following payment plan? (Round the final answers to 2 decimal places.) Effective rate a. Annual payment % b. Semiannual payments % c. Quarterly payments % d. Monthly payments %Consider a student loan of $25,000 at a fixed APR of 12% for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
- Give typing answer with explanation and conclusion You purchase a 188-day, $1000 U.S. Treasury bill at 0.36% discount. On the date of maturity, you will receive $1000. What is the actual rate of interest of the Treasury bill? Express the rate as a percent rounded to four decimal places.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 % % %Consider a student loan of $15,000 at a fixed APR of 9% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $141,126.2179. (Do not round until the final answer. Then round to the nearest cent as needed.) b. The total payment over the term of the loan is $ (Round to the nearest cent as needed.) c. Of the total payment over the term of the loan, % is paid toward the principal and % is paid toward interest. (Round to the nearest tenth as needed.)