etermine the simple interest. The rate is an annual rate. Assume 360 days in a year.   p=​$280​, r=7.25​%, t=2.75 years The simple interest is

Q: Calculate the simple interest rate. (Round your answer to one decimal place.) P = $2400, I = $60, t…

A: Simple interest = Amount*rate*time in years

Q: What is the nominal annual interest rate if the effective annual rate is 5.5% and compounding is…

A: In this question the compounding is continuous so the nominal rate needs to be converted to…

Q: An interest rate of 10% compounded monthly is given, compute for the interest rate per period? O…

A: The periodic rate equals the annual interest rate divided by the number of periods

Q: Suppose a $18,186 loan has an annual compound interest rate of 2.2% with semi-annual compounding…

A: In this question we need to calculate the Future value of the loan from details given as follows:…

Q: Compute the simple interest INT for the specified length of time and the future value FV at the end…

A:

Q: Suppose the interest rate is 6.9% APR with monthly compounding. What is the present value of an…

A: Interest rate = 6.9% Semi annual interest rate (r) = [1+(0.069/12)]6-1…

Q: You are told that the nominal rate of interest is 3.7% per 4 months payable monthly. Calculate the…

A: The Effective Annual Rate (EAR), also called the Annual Equivalent Rate (AER) or maybe the…

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

A: Simple interest is a straightforward method of calculating interest based on a fixed percentage of…

Q: An amount of $29,200 will provide 9 years of payments of $2,518.50 at the end of every 6 months.…

A: Present Value  $                 29,200.00 Time Period 9 Semi Annual Payment(P/Y)  $…

Q: Calculate the simple interest rate. (Round your answer to one decimal place.) P = $4300, I = $660,…

A: Simple interest is the interest calculated on the principal amount over some time whereas compound…

Q: Find the simple interest on $31,200 at 5.25% for 107 days. Assume 360 days in a year and 30 days in…

A: Simple interest is a method of calculating interest where the principal remains the same for each…

Q: Considering an interest rate i=14% per year, what is the compound interest rate equivalent to the…

A: Interest rate is 14% per year To Find: Equivalent compounded  interest rate for 45 days Equivalent…

Q: The effective rate of interestis 3.25% per annum. Calculateto 6 sf. (a)The equivalent rate of…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub- parts…

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

A: We need to use simple interest formula to calculate simple interest owe for the money. The formula…

Q: what simple interest rate is equivalent to 1% compounded quarterly

A: Simple interest rate is the rate which does not compound means under this rate there is no concept…

Q: Calculate the total present value at time 0 of a payment of £257 paid at time 4 and a payment of £67…

A: Using the PV formula given below, we can determine the Present value of an amount. PV = FV(1+r)n…

Q: If $14,000 is borrowed for 2 months and $82 is paid, then the annual simple interest rate is ____

A: Interest = p * r * t Interest = $82 principal = $14,000 r = rate of interest  t = time in years = 2…

Q: Compute the simple interest INT for the specified length of time and the future value FV at the end…

A: Simple interest is the formula for determining interest with respect to the principal amount, time,…

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

A: We need to use simple interest formula to calculate the simple interest. The formula is Simple…

Q: Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t…

A: Principal amount (P) = $43,000 Interest rate (r) = 9 3/4% = 9.75% Period (t) = 9 Years Compounding…

Q: You are told that the nominal rate of interest is 3.46% per quarter year payable monthly. Calculate…

A: Nominal Rate of Interest = r = 3.46%Interest rate compound = rc = Quarterly = 4Payable Compound = pc…

Q: Qnl. A series of payments of 700 Riyals is made at the end of each quarter in an account for 5…

A: When an individual or company is making series of payments for the particular period of time then,…

Q: Find the simple interest. Assume a​ 360-day year. ​$5566.49 at 3.1​% for 65 days the simple interst…

A: Simple interest is very simple and there is no interest on interest and there is no compounding of…

Q: What is the nominal rate of interest compounded semi annually which is equal to 8.81% compounded…

A: Interest rate (APR) = 8.81% Compounding per year (M) = 4

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: If you bought a 4-week T-bill for Tk.887 and receive Tk.1,200 4 weeks later, what is the effective…

A: The Effective Annual Interest Rate (EAR) is the interest rate that is adjusted for compounding over…

Q: Suppose you have a k5000 bank deposits. The interest rate is 6% compounded quarterly for 1 year.…

A: The effective annual interest rate (EAR) represents the actual interest rate earned on an investment…

Q: The annual interest rate is 12%. Find (a) the semi-annual rate, (b) the quarterly rate, (c) the…

A: semi-annual rate is the rate that is compounded twice a year (i,e) for every six months is called…

Q: Suppose the interest rate is 7.1% APR with monthly compounding. What is the present value of an…

A: APR = 7.1% compounded monthly The 6-month effective interest rate is

Q: Define the annual percentage rate (APR). Suppose you borrow $3,621.15 and take out a loan with an 8%…

A: Annual Percentage Rate (APR)The Annual Percentage Rate (APR) is the yearly cost of borrowing money…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $2250, r = 4.00% monthly, t =…

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

Q: What is the rate of interest per interest period if the nominal rate of interest is 25% compounded…

A: nominal rate of interest = 25% Compounded monthly No. of period = 12

Q: Calculate the simple interest rate when P=$3600 , I=_160 and t=4 months. Round to the nearest…

A: Compounding is the interest charged on interest. When any investment is made for certain years, the…

Q: Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is…

A: Here,

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.