Nina borrowed money on 31 August and agreed to pay back the loan on 2 November of the same year. If the discount rate is 18% per year and she received R5 000 on 31 August, what is the value of the loan that Nina has to pay the bank on 2 November? 1.     R5 155,34 2.     R4 844,66 3.     R5 160,32 4.     R5 000,00 5.     None of the above

Valerie refinanced her home loan. The new loan of $103,000.00 has an interest rate of 5.9% compounded monthly. She is planning to pay off the loan in 21 years, what will her monthly payment be? (Round all answers to 2 decimal places.) The monthly payment would be $. Assuming Valerie paid all of the payments on time and did not prepay on the loan. What is the total amount Valerie paid and the total interest? The total amount Valerie paid was $ and the total interest was

To go on a school trip, Felipe borrows $700. He makes no payments until the end of 4 years, when he pays off the entire loan. The lender charges simple interest at an annual rate of 6%. a) how much total interest will Felipe have to pay? b) what will the total repayment amount be (including interest)?

Lauren deposited $10,000 today. He plans to withdraw $1100 every year. For how long can she withdraw from the account starting 1 year from now if interest is 89% compounded annually? State your answor in years and months (trom 0 to 11 months) This is an example of OA Compound Interest Problem (PMT-0) OB. Payout Annuity Problem (FV0) OC. Savings Annuity Problem (PV= 0) The TVM variable being solved is OA PMY OB. n Use your TVM solver to answer the following questions (a) It will take years to depelete the account Round UP to the nearest whole period (b) She can make withdrawals for year(s) and month(s) Answers should be whole numbers with months is between 0 and 11 CHES O.C. FV OD. PV

April borrows $20000 at an interest rate of 7% to purchase a new automobile. At what rate (in dollars per year) must she pay back the loan, if the loan must be paid off in 5 years? (Use decimal notation. Give your answer to two decimal places.) withdrawal rate: $ per year

Lashonda wants to buy a new house but needs money for the down payment. Her parents agree to lend her money at an annual rate of 2%, and charged a simple interest. They lend her $6000 for 3 years. She makes no payments except the one at the end of that time. a) how much total interest will lashonda have to pay? b) what will the total repayment amount be (including interest)?

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Suppose Sam agrees to lend $1000 to Jeb for one year. Jeb agrees to pay Sam $1150 at the end of the year. If inflation over that year is 7%, what real rate of interest does Sam earn on her $1000? 3% 10% 8% 15% 7%

Suppose Heather borrows $3000 at an interest rate of 11% compounded each year. Assume that no payments are made on the loan. Follow the instructions below. Do not do any rounding. (a) Find the amount owed at the end of 1 year. (b) Find the amount owed at the end of 2 years.

mary, a college student, needs to borrow $8000 today for her tuition. She agrees to pay back the loan in a lump-sum payment upon graduationg, 4 years from today. The lender agrees to lending at a fixed 3.85% interest rate during the loan period. what the total cost of Mary's student loan?