Julius takes out a loan of $8500 at 9.5% simple interest for three months. What is the maturity value of the loan? 
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- Calculating single-payment loan amount due at maturity. Stanley Price plans to borrow 8,000 for five years. The loan will be repaid with a single payment after five years, and the interest on the loan will be computed using the simple interest method at an annual rate of 6 percent. How much will Stanley have to pay in five years? How much will he have to pay at maturity if hes required to make annual interest payments at the end of each year?Jim makes a simple interest loan of $5,800 at 16.35% for 18 months. Assume the loan period is determined using ordinary time. Find the interest paid. Find the maturity value.Devon takes out a loan of $1500 at 6 1/2 % simple interest for 56 months. What is the maturity value of loan? 1,955.00 1,550.75 2,100.25 2,500.50
- Suppose you purchase a home and obtain a 15-year fixed-rate loan of $195,000 at an annual interest rate of 6.0%. a) What is your monthly payment? N: months I %: P.V: $ PMT: $ F.V: 0 P/Y: 12 C/Y: 12 b) Of the first month's mortgage payment, how much is interest? HINT: I=Prt Interest: I=$ c) Of the first month's mortgage payment, how much is applied to the principal? HINT: PMT - Interest Amount Applied to Principal: $ d) How much is your outstanding balance after the first month’s payment? HINT: Principal - Amount Applied to Principal Outstanding Balance after first payment: $1. PEDRITO OBTAINS A LOAN FOR $140,000.00 FOR A TERM OF ONE YEAR AND EIGHT MONTHS WITH A SIMPLE INTEREST RATE OF 4.0 PER MONTH a) IF THE ACCRUED INTEREST IS PAID AT THE END OF EACH MONTH, HOW MUCH SHOULD YOU PAY? b) IF THE INTEREST OBTAINED IS PAID AT THE END OF THE ESTABLISHED PERIOD, HOW MUCH WILL YOU PAY IN TOTAL FOR INTEREST?What is the simple interest rate if Rogine paid an interest of P2,100 after 2 years and 6 months on a P12,000 loan?
- You take out a loan of $1,250 under simple interest with 4.28% APR. The term of the loan is four years. How much interest do you have to repay at the end of the four years? O 214 0 1464 O0.042Henry takes out a $650 discounted loan with a simple interest rate of 12% for a period of 7 months. What is the effective interest rate? Give your answer as a percentage to the nearest percent.2. Sue borrows $600,000 at 3.85%. The mortgage is for 30 years. A. What is the monthly payment? B. How much interest will be paid over the life of the loan? C. Recalculate the total interest rate if the rate changes from 3.85% to 6.85 %. What is the total interest paid over the life of the 6.85% loan?
- A man wants to borrow $1500 at 10% interest rate from October 1 through December 23. How much will he have to pay at the end of his loan term?Jack borrows $7,000.00 at an interest rate of 15% compounded monthly to be paid off monthly payment of $180.00 If the length of the loan is 54 months, What is the total amount that would be needed to pay off the entire loan balance at the end of 6 months? $7,089.05 $9,752.75 $8,059.25 $6,467.70You are preparing a loan amortization table for a 1-year loan of $1000 with a monthly interest rate of 1%. What is your principal payment in month 3 of the amortization schedule?