On January 16, 2019, Emma borrowed $79,200 from CIBC at 5.13% p.a; she settled the loan on July 26, 2020. a) How much was the maturity value of the loan?      $ b) How much was the amount of interest charged on the loan?

Suppose you purchase a new vehicle for $25,445, which includes taxes and your license fee. The annual interest rate is 8% and you finance it over a 4 year period.   A) Find the monthly payment amount.             B) What is the total amount of interest paid over the term of the loan?             C) How much do you pay for the total cost of the vehicle?           D) What is the difference between the answer you got in C) and the price of the vehicle if you paid cash?

You borrow $5,000 from the bank to pay tuition for your first year of university.  The bank charges 6% per annum, compounded semi-annually. a) 4 years later, how much will you have to repay as a lump sum?  b) How much of that amount is interest?

On March 26, 2016, Emmett borrowed $81,250 from Tangerine at 2.02% p.a; he settled the loan on July 6, 2017. a) How much was the maturity value of the loan? b) How much was the amount of interest charged on the loan? $