Purchase price: $21,000 Down payment: $4,000 Interest rate: 3.9% Loan length: 36 months Car value at end of loan: $11,200 Monthly payment: $501

Q: A payday loan provides short-term loans ranging from $250 to $2,000. Assume the cost of the loan is…

A: Short term loan: Short-term loans are borrowed funds used to fulfill immediate liquidity demands,…

Q: The company purchased the equipment 600,000. The interest rate of bank is 12,400. The loan is…

A: Answer The interest rate bank = 12,400 The spot rate of OMR = 2.50

Q: A motor vehicle which costs RM20,000 was bought on credit terms, with payment of 10% as deposit to…

A: Here, Cost of Motor Vehicle is RM20,000 Immediate Deposit is 10% Immediate Deposit Amount will be:…

Q: Calculate the monthly payment by using the loan amortization table: (Round your answer to the…

A: loan amount= $26000 time= 36 months or 3 years Rate=11%   If you borrow $26000 at 11% for 3 years,…

Q: An $84,000 business can be purchased by making a down payment of $14,000 and financing the balance…

A: Loan is defined as the money that are given to some other party in an exchange for making the…

Q: Discount Mart borrows $400,000 on November 1, 2020 with a 6-month loan that has an annual interest…

A: Interest Payable on December 31, 2020 = Amount borrowed x rate of interest x no. of months /12 =…

Q: Calculate the size of the periodic payment. b. Calculate the total interest paid.

A: An Annuity is a series of payments of fixed amounts and at fixed intervals. These can be of two…

Q: A company issues 4% loan notes with a nominal value of $20,000,000. The loan notes are issued at a…

A: Loan Notes: Loan notes or loan stocks are financial instruments that helps the issuer to raise…

Q: Find the vehicle payment under the following conditions: A loan of $16,000.00 at 4.9% compounded…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: One. Determine the monthly payment fora $30000 car with no downpayment, using 12% annual financing…

A: Installment: Installment is a form of debt repayment paid periodically with the part of the…

Q: A local business received a $45,000 loan at 4.95% compounded monthly. The business settled the loan…

A: Loan repayments of equal amounts can be defined as an annuity. The principal amount of loan is the…

Q: Please answer with details on how to do it. Thank you.  A company borrows $ 100,000 today at 6 %…

A: Annuities seem to be interest-bearing financial products that offer a steady steady flow of income…

Q: e effective rate of interest of the loan?

A: Effective interest rate is calculated as follows; r = (1 + in)n -1 wherer - effective annual ratei -…

Q: (c) A motor vehicle which costs RM20,000 was bought on credit terms, with payment of 10% as deposit…

A: To find the Interest expenses we will use the following formula: Compounded Total Interest = P *…

Q: A certain college graduate borrows 8658 dollars to buy a car. The lender charges interest at an…

A: Installment is the amount of periodic payment a borrower has to make to its lender in order to pay…

Q: You want to buy a $35,000 car. The company is offering a 4% interest rate for 60 months (5 years).…

A: An Annuity is a continuous flow of systematic timely cash flows made or received for a stipulated…

Q: Bronco Repairs borrowed $15 000 from National Credit Union at 10% compounded quarterly. The loan…

A: Given, Loan = $15000 Interest per period = 10%/4 = 2.5% n = 6.581682 pmt = 2500

Q: Acertain college graduate borrows 5707 dollars to buy a car. The lender charges interest at an…

A: This question is related to the loan. In which a graduate student borrows a loan from the bank. In…

Q: Auto loan scenario. Vehicle cost 37955. Interest rate is 4% for 60 months.

A:

Q: Complete the following table: First Payment…

A: Selling price = $ 130,000 Down payment = $ 6000 Amount mortgage (PV) = 130,000-6000 = $ 124000 Rate…

Q: Loan amount is Rs. 10,000, to be repaid in 5 equal monthly payments of principal and interest.…

A: A Flat rate of interest refers to the amount of interest is fixed over time. In this method, the…

Q: Contractual loan amount 60,000 origination fees of 3% Time period for loan is 5 years and and…

A: Given:   Contractual loan amount 60,000 and origination fees of 3% Time period for loan is 5 years…

Q: A payday loan provides short-term loans ranging from $250 to $2,000. Assume the cost of the loan is…

A: In the question it is given that the cost of the loan is $1.00 per day per $100 borrowed until the…

Q: Assume the following information for a car note: Original loan amount = $23,500 Annual interest rate…

A: Calculation of Principal Balance:The principal balance on the loan after six months is…

Q: APPLIANCES LOAN Cash Price: PhP 20,038 Down payment: 0% How much must be paid monthly for 3 years to…

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Q: Loans An interest-free loan of $15,000 requiresmonthly payments of 8% of the unpaid balance.What is…

A: Introduction Unpaid Balance:  This Balance refers to the balance which stands due on that particular…

Q: Purchase price: $21,000 Down payment: $4,000 Interest rate: 3.9% Loan length: 36 months Car value at…

A: Total Amount of monthly payments made  at the end of the loan term = Monthly Payment * Length of…

Q: Determine the monthly payment for a $30000 car with no downpayment, using 12% annual financing for a…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Loan $ 26,000     Down Payment $ 5,000     Time   36   months Rate   11   % Monthly Payments?

A: Solution: Loan amount = $26,000 Time = 36 months Annual rate of interest = 11%

Q: A payday loan provides short-term loans ranging from $250 to $2,000. Assume the cost of the loan is…

A: Given information : Range of short term loans = $250 to $2000 Cost of the loan = $1 per day per $100…

Q: A loan of $400,000 with

A: This is used in case of lump-sum money accumulates in the future if interest is charged on periodic…

Q: Find the discount interest for a 2-year PHP 102,000 loan if the discount interest rate is 1.8%

A: Mortgage/ Borrowings:  Borrowings are the loan which is taken by the individual to meet its…

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A: Given, Loan amount is $430,000 Interest rate is 3.75% Loan is 7/30 balloon loan, which means, after…

Q: Please answer. It's urgent Q- Talmud Book Company borrows $16,000 for 30 days at 9 percent…

A: Amount borrowed is $16,000 Interest Rate is 9% Days loan is outstanding is 30 days

Q: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual…

A: The accrued interest is the interest due for payment but not paid yet by the business yet.

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A: Loan amortization represents payments principal and interest scheduled over the course of the loan…

Q: Please do not answer this question in excel thank you in advance.  A loan of $13,000 at 5.65%…

A: A loan is when one or more companies, organisations, or other entities lend money to other…

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A: Amortization of loan refers to the reduction in value of loan liability by making periodic payments.…

Q: Large semitrailer trucks cost $90,000 each. A trucking company buys such a truck and agrees to pay…

A: A loan is a debt amount borrowed by one person from another person. The amortization of a loan…

Q: A $43,000 new car loan is taken out with the terms 9% APR for 48 months. How much are monthly…

A: A loan is an agreement where an amount is forwarded with the promise to pay it back along with some…

Q: equipment loan for $20,000 down payment of 20 percent 12 percent APR for 30 months a. What is the…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: A business loan of P1,000,000 is to be repaid in full after 5 years. What is the amount to be paid…

A: Ans. For calculating the amount to be repaid we need to prepare a schedule of interest that accrues…

Q: Payment Calculator Property Location Fullerton Payments per year 12 Property Cost $750,000 Total…

A: Computation:

Q: Find the monthly payment for the loan. New-car financing of 3.1% on a 30-month $12,250 loan…

A: The monthly payments discussed here is a form of annuity wherein an equal payment is made each…

Q: You borrow $18,000 with a term of four years at an APR of 4% to buy a truck. (Round your answers to…

A: This question is related to borrowing and strokes given to us are of financial calculator. We need…

Q: A sala set costs P6,800 cash. A buyer pays P2,500 down-payment and the balance will be paid by equal…

A: To calculate the amount of loan , subtract the down payment from the cost. Monthly payment is…

Q: discounted loan of $1,000 was taken out by a company for 6 months at a 10% simple discount rate. The…

A:

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.