The financial officer of Toys and Noise arranges a loan of $8,500, at 8.5% interest, for 35 months. Find the amount of simple interest. (Round to the O $1,445.00 O $2,107.29 O $2,528.75 O $2,914.29
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- The financial officer of Toys and Noise arranges a loan of $8,500, at 8.5% interest, for 35 months. Find the amount of simple interest. (Round to the nearest cent.) A. $1,445.00 B. $2,107.29 C. $2,528.75 D. $2,914.29You have taken a loan of $150,000 at an interest rate of 6% (annual). If the number of monthly equal instalment is 60, then find the principal paid in 36th instalment. a. $ 339.95 b. $ 2,899.92 c. $ 2,559.97 d. $ 2,839.95 с.The business manager of Paws and Claws Pet Supply arranges a loan of $2,500, at 7.5% interest, for 30 months. Find the amount of simple interest. (Round to the nearest cent.) $217.50 O $234.38 $437.50 $468.75
- A man approaches a Loan Agency for P100,000 to be paid in 24 monthly instalments. The agency advertises an interest rate of 1.5% per month. They proceed to calculate the amount of his monthly payment as follows: Amount requested P100,000 Credit investigation P500 Credit risk insurance P1,000 Total P101,500 Interest = P101,500(24)(0.015) = P36,540 Total owed = P36,540 + P101,500 = P138,040 Payment = P138,040 / 24 = P5,751.67 What is the effective rate of interest of the loan?Suppose you take out a loan for 180 days in the amount of $15,500 at 14% ordinary interest. After 40 days, you make a partial payment of $1,000. What is the final amount due on the loan? (Round to the nearest cent.) $14,826.11 O $15,543.68 O$15,772.99 O$15,832.06Suppose you take out a loan for 180 days in the amount of $15,500 at 13% ordinary interest. After 40 days, you make a partial payment of $1,000. What is the final amount due on the loan? (R to the nearest cent.) O $14,731.39 O $15,468.26 O $15,680.94 O $15,731.88
- The chief business officer of a construction equipment company arranges a loan of $9,800, at 12 1 8 % interest for 35.5 months. Find the amount of interest. (Round to the nearest cent) A. $2,376.50 B. $3,515.24 C. $3,565.24 D. $4,218.2916) A car loan for $33,550 has an interest rate of 5.25% and is amortized over 60 months. What is the monthly payment on the loan? a. $ 425.78 b. $679.92 17) c. $636.98 d. $351.24 Using the same facts as #16, what is the balance of the loan after 3 full years of payments? a $ 14,482 b. $ 8,299.28 c. Zero. d $15,9421. What is the maturity date of a loan taken out on May 16, for 53 days? A. June 30 B. July 1 C. July 8 D. August 9 2. The financial officer of Toys and Noise arranges a loan of $8,500, at 8.5% interest, for 35 months. Find the amount of simple interest. (Round to the nearest cent.) A. $1,445.00 B. $2,107.29 C. $2,528.75 D.$2,914.29
- An engineer wants to purchase a house for $100,000 and has $20,000 cash to use as the down payment. The bank offers a loan for the remainder at 9% nominal interest with the term of the loan being 20 years and monthly payments. Assuming the payment is the same for all months, the monthly loan payment is close to: a. $720 b. $689 c. $572 d. $741The owner of a hot dog stand receives a loan of $2,750 at 5.25% for 9 months. Find the amount of simple interest. (Round to the nearest cent.) O $108.00 $108.28 $144.38 $305.56A local business received a $45,000 loan at 4.00% compounded semi-annually. The business settled the loan with monthly payments of $875. a. How many payments are required to settle the loan? Round up to the nearest whole payment. 57 56 55 58 b. What was the interest portion of payment 19? $104.31 $101.03 $108.16 $95.67 c. What was the size of the final payment? $400.50 $407.97 $404.87 $395.79