If we deposit $5000 in an account that pays 9% per year. Find the amount of simple interest earned during 8 months. a)$3000 b)$300 c)$360 d)$3600

Show Solution. Topic: General Annuity 2. Find the present value of an annuity which pays P2,700 at the end of every 3 months for 6 years, if money is worth 18% compounded monthly?

2.The simple interest on a $6500 loan at 15% for 9 months is. a)$731.25 b)$7312.50 c)$73.13 d)$2925

Suppose you take out a car loan of $15,000 with an interest rate of 15% compounded monthly. You will pay off the loan over 36 months with equal monthly payments.(a) What is the monthly interest rate?(b) What is the amount of the equal monthly payment?(c) What is the interest payment for the 15th payment?(d) What is the total interest paid over the life of the loan?

A trader buys a $1600, 12% quarterly bond for $1800, the bond matures in 3 years and pays interest compounded quarterly, what is the rate of return on the bond compounded quarterly?

Ed opened a savings account 5 years ago with $600. The account earns 3% simple interest per year, and Ed has not added or withdrawn from the account. How much interest has Ed earned?

Subject: finance

Richard Miyashiro purchased a condominium and obtained a 20- year loan of $192, 000 at an annual interest rate of 8.20%. (Round your answers to the nearest cent.)(a) What is the mortgage payment? (b) What is the total of the payments over the life of the loan? (c) Find the amount of interest paid on the mortgage loan over the 20 years.

Q3. A loan of $15,000 requires monthly payments of $477 over a 36-month period of time. These payments include both principal and interest. (a) What is the nominal interest rate (APR) for this loan? per year, compounded monthly (b) What is the effective interest rate per year? per year