Scenario 2 On 18 Jan, John and Mary purchase $62.50 worth of feeder chickens with the cash they received from the loan. Scenario 3 On 2 Feb, John's father dies, leaving John and Mary $375 as an i
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Scenario 1 On 15 Jan, John and Mary borrow $62.50 to purchase feeder chickens to fatten and sell in the local market. The interest rate is 30%.
Scenario 2 On 18 Jan, John and Mary purchase $62.50 worth of feeder chickens with the cash they received from the loan.
Scenario 3 On 2 Feb, John's father dies, leaving John and Mary $375 as an inheritance. John contributes the money to their farming business.
Scenario 4 On 15 Mar, John and Mary sell their remaining maize to a purchasing agent for $812.50.
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- Claire needs to borrow $5000 to pay for NHL season tickets for her family. She can borrow from the credit union (36 monthly payments of $151.54 each). Find the APR for each loan. The APR for the finance company loan is? The APR for the credit union is?A couple sold their home. In addition to a cash down payment, they financed the remaining balance for the buyer. The loan will be paid off by monthly payments of $300 for 5 years. The couple decides to sell the loan to a local bank. The bank will buy the loan, based on 1% per month interest. How much will the bank pay the couple for the loan? Select one: O a. 35648.74 O b. 3397.40 O c. 13486.51 O d. 1456.03 O e. 31468.53 You deposit $8000 in year 1, $7500 in year 2, and amounts decreasing by $500 per year through year 10. At an interest rate of 10% per year, determine the annual worth equivalent through year 1 to 10. Select one: O a. 10282.48 O b. 6137.27 O c. 4540.89 O d. 5717.52 O e. 9862.73Ms. Daphnee Rosagas needs 5,500 on August 19, 1991 for her children's school expenses. She plans to repay the money on December 6, 1991. What size of loan should she request from the Employees Credit Cooperative if the interest in advance is 6 3/8% (Simple Discount)
