onth, En Bey borrowed P 25,000 at 12% interest rate. He repaid the loan in four installment payments. If he wanted to pay P 6,250 in the following three months and pay the remaining balance on the fourth month, compute the ordinary interes

Q: What is the new maturity value of the loan? Round your answer to the nearest cent. Do not round…

A:

Q: Steve Perry borrowed $70,000 at 12% ordinary interest for 60 days. On day 20 of the loan, Steve made…

A: Steve Perry borrowed $ 70,000 out of which it repaid $ 9,000 at the end of 20 days which includes…

Q: Carla borrowed $1049.00 from the Central Bank at 8.5% per annum calculated on the monthly unpaid…

A: The complete repayment schedule for the loan is shown in the table above. The loan is paid off in 5…

Q: vince has just opened an 18-month certificate of deposit on which interest compounds daily. he…

A: Certificate of deposit refers to a savings account that pays a fixed rate of interest for a definite…

Q: calculate the APR on the loan. round to two decimal places

A: Purchase price2300Down payment600Loan amount1700No.of payments48Payment Amount42.5Monthly…

Q: On February 1, the home mortgage balance was $278,000 for the home owned by Amy Moore. The interest…

A: The objective of this question is to calculate the amount of interest included in the February…

Q: How much will Jim repay on March 11?

A: Introduction: The term loan refers to the amount which is lent by either an individual or an…

Q: Marcela took out a $600 discounted loan with a 4% annual interest rate over a period of 8 months.…

A: Effective annual interest rate is referred as the interest rate which is adjusted for compounding…

Q: If $5,000 is borrowed at a simple interest rate of 5.65% p.a., calculate the interest charged for 6…

A: the amount of interest Marissa should receive is $356.35.Explanation:For the first question:Interest…

Q: Juan borrowed 3,841 at 1.32% per month payable in 24 equal end-of-the-month payments. What is the…

A: Solution:- Effective interest rate means the net interest rate for the year after the effect of all…

Q: Raul Fletes borrowed $9,500 on a 90-day note that required ordinary interest at 11.97%. Raul paid…

A: Interest PaymentsInterest payments refer to the money paid by a borrower to a lender for the use of…

Q: Cardo borrowed money from a local cooperative. He received P18,420 but promised to pay P20,000 in…

A: Present Value = 18,420 Future Value = 20,000

Q: Tim Houston purchased a wall unit for $2,300. He made a $600 down payment and financed the balance

A:

Q: Donia borrowed $7000 from her credit union on a demand loan on July 20 to purchase a motorcycle. The…

A: The table format is already given in the question. And the solution does not require any theories or…

Q: David obtained an installment loan of $9,600 at 15 percent for 45 months. The balance of the loan…

A: So Details provided are Loan Amount = $9600 Interest Rate = 15%p.a Tenure of the Loan = 45 Months

Q: Dave borrowed $1,300 on January 1, 2022. The bank charged him a $5.00 service charge, and interest…

A: When a borrower takes out a loan from a lender, they are required to pay interest on the borrowed…

Q: Joel borrowed $2776.55 on November 2, 2021 at 4.5% p.a. How many days would it take for him to…

A: A loan refers to a contract between two parties where money is forwarded to one party by the other…

Q: Shelley borrowed $1022.00 from the Merchant Bank at 8.6% per annum calculated on the monthly unpaid…

A: The loan repayment will consists of the interest payment and principal payment. If the loan is…

Q: Angela's Riunning Store borrowed S12,000 ón June Ist át å sifmple repay the loan with payments of…

A: Loan repayment schedule is the schedule made for making the payment including the information such…

Q: Amit borrowed $2000 at a simple interest rate of 5.5% per annum. At the end of the term, he owed…

A: Step 1 Simple Interest When someone lends money to a borrower, the borrower typically has to pay the…

Q: Nelson took out a 25-year home loan of $500,000. He made equal month-end repayments at the interest…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: On March 15th Ron went to the bank to borrow $3,000 at 8.5% interest. Ron plans to repay the loan…

A: Ordinary interest is an interest that is computed on the basis of a 360-day year instead of a…

Q: On March 1, the home mortgage balance was $250,000 for the home owned by Alice Perez. The interest…

A: Amortized loans are the loans which have periodic repayments of principal and interest.

Q: On October 5, Tristan Sandino borrowed $3,050 to buy an English bulldog.  The loan carried a rate of…

A: Simple interest is that interest amount which is computed only on the principal amount. In contrast…

Q: Donla borrowed $7,000 from her credit union on July 20 on a demand loan to buy the motorcycle.  The…

A: Here, Borrowed Amount is $7,000 Corrowed Date is 20th July Fixed Monthly Payment is $1,400 Floating…

Q: Jason borrowed $2,500 on March 1 from a bank and promised to pay back the money in 90 days at 6%…

A: Amount borrowed “P” = $2500 Number of days “n” = 90 Stated rate of interest = 6%

Q: Raul Fletes borrowed ​$9,500 on a 120​-day note that required ordinary interest at 12.03​%. Raul…

A: In this we have to calculate the interest of both and than get the remaining interest.

Q: il 1, the home mortgage balance was $226, 000 for the home owned by Susan Thomas. The interest rate…

A:

Q: On January 1, the home mortgage balance was $293, 000 for the home owned by Tom Thomas. The interest…

A:

Q: Nelson took out a 25-year home loan of $500,000. He made equal month-end repayments at the interest…

A: A loan is an amount that is borrowed from a bank or any other party. Loans are used by individuals…

Q: Krista borrowed 15,268. The loan is to be repaid by three equal payments due in 52, 146, and 261…

A: TVM refers to the concept that considers the effect of money's interest-earning capacity, which…

Q: James lends Henry 500,000. He must repay the loan with 192 end of month payments with the nominal…

A: This is an example of growing annuity. Here, Present value of growing annuity (PVGA) - 500000 The…

Q: Carla borrowed $1010.00 from the Central Bank at 8.8% per annum calculated on the monthly unpaid…

A: Loan amount is $1010 Interest rate is 8.8% Monthly payment is $220   To Prepare: Loan repayment…

Q: Gene McDonald's bank granted him a single-payment loan of $5,000 for 90 days at 9% ordinary…

A: A fundamental method of calculating interest in finance is called simple interest. It is calculated…

Q: Ben borrows a loan of $6,000 at 11% per annum on March 10. He plans to pay it different smaller…

A: Interest is an additional amount which borrower has to pay on borrowed amount as per the time…

Q: Hassan borrows  AED 4,000,000 to be repaid over 15 years at 7 percent. What is the repayment of…

A: There are several functions in Microsoft Excel that can be used to perform time value of money…

Q: ********************* On September 12, Jody Jansen went to Sunshine Bank to borrow $2,300 at 9%…

A: Loan - $ 2300 Interest – 9% Date borrowed= September 12 Date repaid = January 27

Q: O $3,433.89 O $3,630.56 $3,636.11 $3,793.72

A: In period less than one simple ordinary interest is applied and computations is done based on number…

Q: Nathan was charged interest of $72 for a loan amount of $2,000 that he borrowed for 150 days. What…

A: Principal amount borrowed(P)= $2,000Number of days(t)= 150Simple interest charged = $72let the…

Q: Ms. Kim borrowed an amount from a bank but she only recieved from the bank P1,340. She promised to…

A: Actual amount received = P 1340 Discount rate = 13.73%

Q: On September 1, the home mortgage balance was  $262,000  for the home owned by Kim Thompson. The…

A: A mortgage is paid off by making equal payments that comprise interest on the opening outstanding…

Q: draw the cash flow tnx.

A: The present value is the total value of the future payment series you must have now. For example, if…