Month-end payments of $1,450 are made to settle a loan of $123,700 in 8 years. What is the effective interest rate? % Round to two decimal places

Debt payments of $2,350 and $1,050 are due in five months and ten months, respectively. What single payment is required to settle both debts in one month? Assume a simple interest rate of 6.80% p.a. and use one month from now as the focal date. Round to the nearest cent

Assuming that interest is the only finance charge, how much interest would be paid on a $5,000 installment loan to be repaid in 24 monthly installments of $235.54? Round the answer to the nearest cent. $   What is the APR on this loan? Round the answer to 2 decimal places.     %

Finance charges on a payday loan may not exceed 16.7% of the amount advanced. Find the annual interest rate if $300 is borrowed for 10 days at the maximum allowable charge. The annual interest rate is ___ % (round to the nearest percent) Show all work and explanations.

ou were paying your fully amortising loan at 8.2% per annum for 12 years. The current monthly payment is $1,492 per month. What is the remaining loan balance at the end of year 2? Please rounded your answer to two decimal points (e.g. 8000.158 is rounded to 8000.16)

The interest rate on a $15,300 loan is 9.7% compounded semiannually. Semiannual payments will pay off the loan in nine years. (Do not round intermediate calculations. Round the PMT and final answers to 2 decimal places.) a. Calculate the interest component of Payment 12. $ b. Calculate the principal component of Payment 5. Principal c. Calculate the interest paid in Year 8. Interest paid d. How much do Payments 5 to 8 inclusive reduce the principal balance? Principal reduction Interest

8. What payment is required at the end of every three months for 5.75 years to repay a loan of $1,942.00 at 7% compounded quarterly?

A fully amortizing mortgage loan is made for $100,000 for 15 years. The interest rate is 6 percent per year compounding monthly. Payments are to be made monthly. What is the loan outstanding after one monthly payment? (Round to a dollar) $89,692 $89,380 $99,656 $89,691 $79,725

Debt payments of $1,650 and $2,400 are due in five months and nine months, respectively. What single payment is required to settle both debts in one month? Assume a simple interest rate of 7.50% p.a. and use one month from now as the focal date. Round to the nearest cent

A demand loan for $8955.33 with interest at 9.3% compounded semi-annually is repaid after 8 years, 8 months. What is the amount of interest paid? The amount of interest is $