how much would you save or lose by taking the debt consolidation company’s offer?

A local finance company quotes a 17 percent interest rate on one-year loans. So, if you borrow $30,000, the interest for the year will be $5,100. Because you must repay a total of $35,100 in one year, the finance company requires you to pay $35,100/12, or $2,925.00, per month over the next 12 months. a. What rate would legally have to be quoted? b. What is the effective annual rate?

Bowflex’s television ads say you can get a Treadclimber that sells for $12,000 for 5 annual payments of $3,000. What annual rate of interest are you paying on this loan? PLEASE BREAK DOWN

Gustavo wants to borrow $900 for 20 days from a payday loan store. The payday loan finance charge is $12 per $100 borrowed up to $400, and $10 per 100 on the amount over $400. What is the dollar amount of interest I am paying? What is the APR of this loan?

You have a loan outstanding. It requires making nine annual payments of $4,000 each at the end of the next nine years. Your bank has offered to allow you to skip making the next eight payments in lieu of making one large payment at the end of the loan's term in nine years. If the interest rate on the loan is 9%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment? The final payment the bank will require you to make is $52084.15. (Round to the nearest cent.)

Stafford loans are the most popular form of student loan in the United States. The current interest rate on a Stafford loan is 4.34​% per year. If you borrow ​$29,000 to help pay for your college education at the beginning of your freshman​ year, how much will you have to pay at the end of your​ freshman, sophomore,​ junior, and senior years for this​ loan? This is a total of four years over which the original loan will be repaid. The annual loan payment will be ______

Diane is deciding between two personal loans. For each loan, the loan amount is $7500. Use the ALEKS loan calculator for the following. Also use the regular ALEKS calculator, as necessary. Write your answers to the nearest cent. ALEKS Loan Calculator Loan amount: $ Loan term: Interest rate: Calculate years % Monthly payment: (a) For Loan A, the interest rate is 6.15% per year and the loan term is 7 years. Find the total amount to repay Loan A. S (b) For Loan B, the interest rate is 6.15% per year and the loan term is 5 years. Find the total amount to repay Loan B. (c) For which loan would she pay less, and by how much? Loan A The total amount paid is $ less. Loan B The total amount paid is $less. X Ľ

You have a loan outstanding. It requires making four annual payments of $1000 each at the end of the next four years. Your bank has offered to allow you to skip making the next three payments in lieu of making one large payment at the end of loan's term in four years. If the interest rate on the loan is 7%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment? Round answer to nearest dollar

You have a loan outstanding. It requires making seven annual payments of $4,000 each at the end of the next seven years. Your bank has offered to allow you to skip making the next six payments in lieu of making one large payment at the end of the loan's term in seven years. If the interest rate on the loan is 6%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment?

An online lending company is offering simple interest personal loans based on consumer creditscores. With your credit score, you can borrow $5000 for 3 years at an interest rate of 17.73%. Howmuch money will you pay the lending company at the end of 3 years?