Find the simple interest.​ (The rate is an annual rate unless otherwise noted. Assume 360 days in a​ year.)   p=​$200​, r=4​%, t=5 years   A. ​$10   B. ​$40   C. ​$160   D. ​$4

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A: Simple interest = P * r * t  where P = Principal amount r = rate of interest t = time period…

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Q: ↑ Consider the following loan Complete parts (a) (c) below An individual borrowed $67,000 at an APR…

A: Amount borrowed = $67,000Annual rate = 3%Number of years = 20 yearsPayment = $372

Q: What rate (in %) compounded monthly is equivalent to simple interest rate of 6.3% for 6 years? Round…

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Q: A loan of size L is to be paid off by payments of 2000 each year for 10 years. The principal repaid…

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Q: An installment loan for $18,000 has terms such that monthly payments of $180 are made for 10 years.…

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A:

Q: Complete the table below giving the amount P that must be invested at interest rate 7 % compounded…

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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: An amount of $124 is paid at the end of every month into an account. If the nominal interest rate is…

A: Here, Monthly Amount is $124 Interest Rate is 3.02% Compounding Period is Semi Annual Payment Period…

Q: 4. find the periodic payemnt R required to amortize a loan of P dollars over T years with interest…

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $9080, r = 5.25%, t = 4 months

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Q: 6. Find the monthly amortization for a loan of Mr. Frederick Dizon amounting to P750,000 to be paid…

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Q: Suppose you take out a loan for $7,000, at 12% ordinary interest. If the amount of interest is $672,…

A: Principal Amount = p = $7000 Interest rate = r =  12% Interest amount = i = $672

Q: Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments.…

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Q: Principal Interest Rate Time Interest $2,700 9.6% 30 days $ 45 days $ 80 days $ 3,000 8.0% 3,300…

A: Interest = Principal * interest rate * Time period

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.