Find the total installment cost and the finance charge for an installment loan with these conditions.  Amount financed: $3000  Down payment: $500 Cash price: $3500 Number of Payments: 12 Amount of Payment: $275 What is the total installment cost?  What is the finanace charge?

The true rate of interest charged for a loan is called the​ ________ percentage rate. The true rate of interest charged for a loan is called the ▼   variable defined annual actual regular real percentage rate.

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The principal P is borrowed and the​ loan's future value A at time t is given. Determine the​ loan's simple interest rate r. P​ = ​$2300​, A​ = ​$2722​, t​ = 6 months.

You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest) Loan amount Interest Rate $632,000 15.5% Life 49 years Date of Loan January 1, 2021 Use the installment method - not straight line Do NOT round any interrmediate numbers. Do NOT turn this into a monthly problem. Do NOT put in minus signs, answer all positive numbers.

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Calculating an installment loan payment using the add-on method Calculating the loan payment on an add-on interest installment loan Installment loans allow borrowers to repay the loan with periodic payments over time. They are more common than single–payment loans because it is easier for most people to pay a fixed amount periodically (usually monthly) than budget for paying one big amount in the future. Interest on installment loans may be computed using the simple interest method or the add-on method. The add-on method is a widely used technique for computing interest on installment loans. With the add-on method, interest is calculated by applying the stated interest rate to the      balance of the loan. Finance charges using the add-on method are computed using the simple interest formula:   FsFs = P x r x t In the equation, FsFs is the finance charge for the loan. What are the other values? P is the      amount of the loan.   r is the stated      rate of interest.…

Economics Consider a compounding loan plan where the amounts owed at EOYS 3 and 4 are $5,800 and $6.264, respectively. Approximately, what would be the amount of the loan?

Rank the following car loan descriptions from highest payment ot lowest payment. The loan amount is the same for all. 5-year loan 3% interest rate 5-year loan 4% interest rate 6-year loan 3% interest rate 6-year loan 4% interest rate

Find the amount of interest and the maturity value of the following loan. Use the formula MV =P+I to find the maturity value. Round your answers to the nearest cent. Principal Rate (%) Time Interest Maturity Value $100,000 7 4 months