Calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.) P = $14,000, r = 8.4%, t = 8 months

Q: Use the formula A = P(1 + rt) to calculate the maturity value of the simple interest loan. (Round…

A: Simple interest is the interest changed on loans which can be calculated by multiplying the…

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

Q: Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 40…

A: The interest amount is computed by multiplying the amount of the loan with the interest rate and the…

Q: hat is the maturity value of the loan if the proceeds is P22,000 at the rate of 10% for 10 months? P…

A: Solution Given Present value 22000 Interest rate 10% Period 10 months…

Q: Assume that you take out a $7000 loan for 46 months at 7.5% APR. How much total interest will you…

A: Loan: It is the amount of money borrowed from a person or bank or company for a certain period…

Q: Find the maturity value of a loan of $2,900.00 after three years. The loan carries a simple interest…

A: Given that, Loan amount (P)=$2,900.00 Rate of interest (i)=7.5% p.a. Time (n)=3 years Maturity value…

Q: A loan of $7000 is to be repaid by three equal payments one and a half year from now, three years…

A: Computation of Effective interest rate: EAR=1+15%44-1=1+0.03754-1=1.15865-1=15.865%

Q: Suppose you obtain a mortgage loan of $210,000 at an annual interest rate of 5.0%. How much less is…

A: The interest paid increases as the term of the loan increases.

Q: Assume you take out a $2000 loan for 30 months at 9% APR. What is the monthly payment? (Round your…

A: Monthly payment is present value amortised for with equal instalment. r is interest rate APR and n…

Q: What is the APR on this loan

A: Interest is the cost of borrowing a loan. It is the excess amount over the principal borrowing.…

Q: Use the formula A = P(1 + rt) to calculate the maturity value of the simple interest loan. (Round…

A: Given information: Principal (P) is $12,000, Rate of interest (r) is 8.3%, Number of months (t) is 8…

Q: Find i (the rate per period) and n (the number of periods) for the following loan at the given…

A: Give rate is 7.15% compounded semiannually no. of years 20

Q: The First Common Bank has advertised one of its loan offerings as follows: “We will lend you…

A: Interest: It can be defined as the cost incurred by the borrower related to the amount borrowed.

Q: Suppose a $18,689 loan has an annual compound interest rate of 3.1% with weekly compounding. If the…

A: Details given to us in the question is as follows: Present value of loan =$18689 Interest rate =…

Q: Calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.)…

A: As per the simple interest loan, The formula to be used is: A=P(1+rt)

Q: What is the simple interest rate on a loan of 2,000.00 that was paid 2,600.00 after 2 years and 6…

A: Interest = Amount - Principal Interest = 2,600 - 2,000 Interest = 600 Time = 2 years 6 months = 2.5…

Q: Find the maturity value FV of the given loan amount. (Round your answer to the nearest cent.) $1,200…

A: ,

Q: (Refer to this word problem ) The accumulated value of a 3-month loan of P5,000 is P5,085. What is…

A: Loan amount = P5000 Accumulated value = P5085 Interest amount = 5085-5000 = P85 Period = 3 Months =…

Q: Find the APR of the loan given the amount of the loan the number and types of payment in the add-on…

A: Annual percentage rate (APR) : It refers to the yearly generated interest by a Principal amount that…

Q: What is the maturity value of a $60,000 loan, for 100 days, at 12.2% interest, using the exact…

A: Exact Interest method is a method which uses the exact no of days in a year rather than the ordianry…

Q: An amount of P dollars is borrowed for the given length of time at an annual simple interest rate of…

A: Amount due at the end of period can be calculated as sum of borrowing and simple interest

Q: Loan payments of $1,900 due 95 days ago and $4,350 due today are scheduled to be repaid with a…

A: Simple interest is the interest charged on the principal portion of the loan.  The final payment of…

Q: What is the size of eight equal annual payments to repay a loan of $1,000? The first payment is due…

A: Equated Monthly Installments are one part of the equally divided monthly outgoes to clear off an…

Q: Find the maturity value of a simple interest loan of $4600 taken at 6.75% for a duration of 49 weeks

A: Maturity Value = Principal + interest

Q: Compute the simple interest of a loan amounting to P50,000.00 payable in 8 months if the interest…

A: Simple Interest:   Simple interest is a method of calculating the interest that is charged on fixed…

Q: If the proceeds of a loan of P12,450 will be paid with P12,840 at the end of 1 year and 9 months.…

A: Loan amount = P 12450 Par value = P 12840 Discount amount = Par value-Loan amount…

Q: If $27895 is borrowed for 5 months and P688 is paid, then the annual simple interest rate is…

A: Simple interest is one of the form of interest in which interest is charged on original investment…

Q: In a discount interest loan, you pay the interest payment up front. For example, if a 1-year loan is…

A: Given: Interest rate = 8.50% Amount borrowed = $42,000 Interest amount = $3,570 Net loan = $38,430

Q: Calculate the simple interest due on a 3-month loan of P 1400.00 if the interest rate is 7.5%

A: Simple Interest : The simple interest is calculated by using the following formula & information…

Q: Find the maturity value FV of the given loan amount. (Round your answer to the nearest cent.)…

A: Future value = Present value ( 1 +Rate of interest ) Number of years

Q: (Refer to this word problem The accumulated value of a 3-month loan of P5,000 is P5,085. What is the…

A: Principal (P) = P 5000 Accumulated value (F) = P 5085 n = 3 months = 0.25 years Let r = Simple…

Q: Use the formula A = P(1 + rt) to calculate the maturity value of the simple interest loan. (Round…

A: Given information: Principal (P) is $2,600 Rate of interest (r) is 9.4%, Number of months (t) is 5…

Q: FIND THE SIMPLE INTEREST ON A 50,000 LOAN AT 14 1/2% FOR 7 MONTHS.

A: Simple rate of interest = 4,229.17

Q: Calculate the simple interest due on a 54-day loan of $2600 if the interest rate is 6%. (Round your…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: Suppose you take out a $37,000 4-year balloon loan from a bank at an interest rate of 9.8%. What…

A: Balloon payment is future value of payment considering the interest rate and period.

Q: What is the simple interest rate if Rogine paid an interest of P2,100 after 2 years and 6 months on…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: Suppose you take out a loan for 160 days in the amount of $12,000 at 7% ordinary interest. After 40…

A: The loan is a facility to the individual in which the lender provides the funds to the borrowers at…

Q: Find i (the rate per period) and n (the number of periods) for the following loan at the given…

A: The annual interest rate that is charged by the lenders or at which the investors earn additional…

Q: Calculate the maturity value of a simple interest, 3-month loan of $8000 if the interest rate is…

A: Given: Period = 3 months Loan = $8,000 Interest rate = 5.6%

Q: What is the yield to maturity on a simple loan for$1,500 that requires a repayment of $15,000 in…

A: Individuals, corporates, and governments take loans to finance their needs. The interest rate on the…

Q: Find the present value (principal) to pay on a loan if $ 8,923 of future value (amount) is paid at…

A: Future value = Present value * (1 + rate*time)

Q: For a short-term cash requirement of 85,000 TL, a 12-month maturity loan with equal installments…

A: The amortization schedule helps the lender to keep a track of the loan payments that will be…

Q: Find the maturity value of a loan of P18,000.00 made for 2 years at 8% simple interest.

A: Maturity Value based on simple Interest: = Principal + Interest  = Principal + ( Principal ×…

Q: The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple…

A: Given: Principal amount (P) = $9000 Interest rate (r)=6.5% = 0.065 Time period = 18 months = 1.5…

Q: A bank makes a loan with the following characteristics: monthly payments for 10 years, with an APR…

A: PV: It is the current worth of cash flows that are expected to happen in the future.

Q: Calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.)…

A: Simple interest: As the name indicates it is a simple interest computed on the amount of principal.…

Q: Suppose you take out a loan for 180 days in the amount of $12,500 at 15% ordinary interest. After 40…

A: For calculating the interest:

Q: Calculate the simple interest due on a 58-day loan of $1800 if the interest rate is 3%. (Round your…

A: Calculation of simple interest due: Answer: Simple interest due is $8.58

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.