Find the maturity value FV of the given loan amount. (Round your answer to the nearest cent.) $1,200 borrowed at 7-% for three years 8 FV = $ 1,475.21

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: Compute the compound amount and the interest on a loan of $10,600 compounded annually for six years…

A: Given: Loan = $10,600 Interest rate = 8% Years = 6

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: 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: Pursell Bank offers you a five-year loan for $100,000 at an annual interest rate of 6.8 percent.…

A: Here, Loan Amount is $100,000 Interest Rate is 6.8% Loan Period is 5 years Compounding Period is…

Q: Find the refund fraction on a 30-month loan with interest of $2,802 if the loan is paid in full with…

A: Refund fraction is the amount of interest refund a lender makes to the borrower because of early…

Q: rescott Bank offers you a five-year loan for $69,000 at an annual interest rate of 8.5 percent. What…

A: The value of money changes with time. Therefore, the time value of money considers the worth of…

Q: What is the annual interest rate if a simple interest loan of $10,000 for 4 years charges a total of…

A: When interest rate is simple interest: Interest = Principal*time*rate time and rate should be of…

Q: Find the amount (in dollars) indicated. (Round your answer to the nearest cent.) the monthly…

A: The month payment is the equal amount that is paid at every month until the maturity of the loan…

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: If you borrow $25,000 at an interest rate of 6%, compounded annually, with the repayment schedule as…

A: We need to discount all the future cash flows from year 1-4 and year 5-9 so that the total sum of…

Q: Compute the rate (in%) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

A: Interest = Principle * Interest Rate * time

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: Consider a loan of $2100 at 7% compounded quarterly, with 6 quarterly payments. Find the following.…

A: An amortized loan is a loan that is repaid slowly by paying equal installments. The balance of the…

Q: Consider a borrowing of $400,000, with monthly payments to be made over 15 years with a 15% add-on…

A: The yearly rate that borrower pays on loan and investors receives on deposits is the annual…

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: FIND THE SIMPLE INTEREST ON 8,000 LOANED AT AN ANNUAL INTEREST RATE OF 12% FOR TWO YEARS. IDENTIFY…

A: Formula: Maturity value = Principal + Interest amount

Q: For an interest rate of 12% compounded annu-ally, determine the following: (a) How much can be lent…

A: Given information: Interest rate of 12% compounded annually, Future value of lump sum amount is…

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

A: Excel Spreadsheet:

Q: Amount Financed Interest Rate Term of Loan (years) Number of $1,000s Financed Table Factor (in $)…

A: Installment is the amount of periodic payments a borrower makes to its lender in order to pay back…

Q: You take out 1 $10,000 loan for 7 years at an annual interest rate of 5% and with fixed annual loan…

A: Borrowed amount is $10,000 Annual interest rate is 5% Payment per year is $1,728.20   To Find:…

Q: Develop the table below by comparing the monthly paymentsfor a $200,000 mortgage loan with an 8.00%…

A: monthly payment formula: pmt=p×r121-1+r12-12×n r=rate of interest n = number of years

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: Calculate the simple interest due on a 72-day loan of P3,000 if the annual interest rate is 4%.

A: Loan amount (P) = P3000 Interest rate (r) = 4% Period (d) = 72 days

Q: Using this table as needed, calculate the required information for the mortgage. (Round dollars to…

A: The compounding factor is an important factor that determines the future value of the present money.…

Q: Using this table as needed, calculate the required information for the mortgage. (Round dollars to…

A: Mortgage is loan contract that enables individuals or organization to purchase capital asset such as…

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: Suppose you want to borrow S125 000 and you find a bank offering a 20-year loan with an APR of 5% a.…

A: a. Determine the regular payments when n=1 using the Excel PMT function with the following inputs:…

Q: and has a loan of $8,500 compounded quarterly for four years at 10%. What is the eff ere to view…

A: Effective interest rate is interest rate considering effect of compounding.

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: How much total principal is repaid between the 1st and 7th payment interval of a 4.5-year loan for…

A: Here, Time Period of Loan is 4.5 years Loan Amount (PV) is $4,887 Interest Rate on Loan is 7.4%…

Q: The maturity value of a three month loan of $2,500 is $2,577. Find the simple annual interest rate…

A: Future Value = 2577 Loan = 2500 Time Period = 3/12 = 0.25

Q: Prescott Bank offers you a five-year loan for $54,000 at an annual interest rate of 7.5 percent.…

A: The annual loan payment is the regular installment of the total loan, which repays at a regular…

Q: A loan of £8,000 is to be repaid by level monthly instalments of £ 185 in arrear over a period of 4…

A: Using excel Rate function

Q: lculate the APR of a loan for $9,775 (which includes loan fees of $210), at 13% for 4 years. Round…

A: APR is annual percentage rate applicable on loan. The given problem can be solved using PMT and RATE…

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: you have just borrowed $51,107 at an annual interest of 7.6% and must repay the loan in equal…

A: Given:

Q: If you borrow $20,000 at an interest rate of 8%, compounded annually with the following repayment…

A: In the given sum we are given loan amount and  interest rate. We must find the value of A which is…

Q: Develop the table below by comparing the monthly pay- ments for a $200,000 mortgage loan with an…

A: When time is 100 years N = 100*12, FV = 0, PV = 200,000, rate = 8%/12 use PMT function in Excel…

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

A: Amount borrowed = $1,400 Interest rate = 7 1/8% Time = 3 years

Q: Find the simple interest I of the given loan amount. (Round your answer to the nearest cent.)…

A: Simple interest is a concept in which only the principal amount earns interest over the investment…

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: 1. Suppose you borrow $16,000. The interest rate is 10%, and it requires 4 equal end-of-year…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Find the maturity value FV of the given loan amount. (Round your answer to the nearest cent.) $2,740…

A: Given information: Loan amount is $2,740 Interest rate is 12 ¾% Number of days is 260.