Friendly's Quick Loans, Incorporated, offers you $7.50 today but you must repay $9.85 when you get your paycheck in one week (or else). What is the effective annual return Friendly's earns on this lending business? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. If you were brave enough to ask, what APR would Friendly's say you were paying? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.

For the car loan described, give the following information. A car dealer will sell you the $30,750 car of your dreams for $6,000 down and payments of $665.06 per month for 60 months. (a) amount to be paid $ 512.5 (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) 1.72 X % (d) APR (rounded to the nearest tenth of a percent) 20.7 X %

Need hood explanation, don’t use excel please. Tsinoor takes out a loan of $6800. He will repay the loan over 5-years with semi-annual payments of $816 (first payment due in 6-months). Using linear interpolation, what rate of interest, j2 is being charged on the loan?

The Second National Bank of Fullerton advertises an APR of 15%, but it indicates in the “small print” that compounding occurs on a monthly basis for personal loans with no collateral required. This is a multi-part question. Once an answer is submitted, you will be unable to return to this part. Determine the APY you would pay using an equation.  The APY paid would be   % per year.

Ricky Ripov’s Pawn Shop charges an interest rate of 18.25 percent per month on loans to its customers. Like all lenders, Ricky must report an APR to consumers.   a. What rate should the shop report? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the effective annual rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

For the car loan described, give the following information. A car dealer will sell you the $30,350 car of your dreams for $6,000 down and payments of $669.06 per month for 60 months. (a) amount to be paid $ (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) % (d) APR (rounded to the nearest tenth of a percent)

PLEASE Use the correct function on EXCEL

(1)If compounding monthly, how would I find percent and intrest of a problem? (2) How do I compute if I paid $5 weekly for cofee and $175 monthly for food? What percentage of coffe did I pay over food? (3) suppose you start saving today for a $45,000 down payment that you plan to make on a house in 6 years. Assume you make no deposits in the account after initial deposit. For the account below, how much would you have to deposit now to reach $45000 in 6 years : an account with daily compounding and apr of 7%

Radhubhai

How do we work out how much was saved by making the partial payment? I know the answer is $26.91, but I don't know how to get there. Please help me.   Polly Flynn borrowed $6,000 for 90 days at 7%. On day 20, Polly made a $2000 partial payment. (Assume ordinary interest) What is Polly’s ending balance due?     How much did Polly save by making the partial payment?