Using the ordinary interest method, find the amount of interest on a loan of $11,000 at 11 % interest, for 130 days. $4

Q: What are the interest cost and the total amount due on a six-month loan of $2,100 at 13.5 percent…

A: Simple annual interest cost is the net amount of interest that is being charged on the principal…

Q: 10) Compute the simple interest and final amount of each loan Principal Rate Time A P 400 7% 1 year…

A: Simple interest is that amount of interest which is being charged on the principal amount for the…

Q: Suppose you take out a loan for 180 days in the amount of $15,500 at 13% ordinary interest. After 40…

A: answer principal amount = $15,500 rate of interest = 13% partly payment  after 40days  partly…

Q: Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days. Rate…

A: Ordinary interest, also known as simple interest, is a method of calculating interest on a loan or…

Q: Find the amount due if $200 is borrowed for 4 months at 17% simple interest

A: Amount due refers to the net amount that needs to be either paid by the borrower to the lender or to…

Q: simple interest The interest on a loan of P 2,500 is P 165.00 .  If the rate of interest is 6 %,…

A: The time on the loan can be calculated with the help of simple interest equation

Q: The annual rate of interest on a mortage loan is 11 1/2% the monthly interest payment is $453.76..…

A: Annual interest rate = 11.5%   Monthly interest rate = Annual interest rate / 12 = 11.5%/ 12…

Q: The interest amount on a $46,500 loan was $24,785.95. The interest rate charged on loan was 9.20%…

A: Future value of a loan refers to the total amount that will be due at the end of the loan term,…

Q: Find the simple interest owed for the loan. $5,650 at 8% for 1 year In one year at 8%, deposit of…

A: Principal amount = $5,650Rate = 8%Time period = 1 yearRequired:Simple Interest=?

Q: What is the monthly interest expense for the following open-end credit loan? Loan balance of…

A: The open ended credit loan you have to pay interest on balance amount used and calculation are done…

Q: Suppose that you took out a loan at 10% interest for 283 days. If the amount of interest was…

A: Interest rate = 10% Period = 283 days Amount of interest = $852.88

Q: A $40,000 loan at 4% dated June 10 is due to be paid on October 11. The amount of interest is…

A: Loan amount (P) = $40000 Interest rate (r) = 4% Period from June 10 to Oct 11 (d) = 123 Days

Q: Find the ordinary interest using: a) Ordinary time b) Exact time c) Find the Exact Interest using…

A: The amount paid to an investor for the invested fund is called interest. It is the compensation paid…

Q: What is the rate of interest on a loan of $2,000, for 282 days, if the amount of interest is…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: using the ordinary interest method, find the amount of interest on a loan of $5,000 at 10 1/2%…

A: Loan amount = $5,000 Period of loan = 274 days Interest rate = 10 1/2%

Q: Using the ordinary interest method, find the amount of interest on a loan of $5,000 at 10% interest,…

A: To calculate the interest amount we will use the below formula   Ordinary interest = P*r*d/360 Where…

Q: Find the amount due if $800 is borrowed for 18 months at 18% simple interest.

A: Amount borrowed (P) = $800 Period (n) = 18 months Interest rate (r) =0.18 Amount due = ?

Q: Simple Interest: A $45,000 loan at 3.75% dated June 10 is due to be paid on October 11. Using…

A: Ordinary interest method is one in which the rate of interest is divided by 360 days convention…

Q: Compute the simple interest of a loan amounting to P50,000.00 payable in 8 months if the interest…

A: Simple Interest:   Simple interest is a method of calculating the interest that is charged on fixed…

Q: onsider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using…

A: Equated Monthly Installments are one part of the equally divided monthly outgoes to clear off an…

Q: If $900 is borrowed and the interest after 6 months is $63, what is the annual interest rate for a…

A: The term simple interest refers to the borrowing arrangement in which the interest is only charged…

Q: The simple interest charged on an 8-month loan of $95,000 is $974. Find the simple interest rate.…

A: Simple interest = Amount*Rate*time in years

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: The simple interest charged on a 11-month loan of $54,000 is $732. Find the simple interest rate.…

A: simple interest can be given by the formula: I=P×R×T100

Q: What is the total amount that must be repaid on the following note $8,543 borrowed at 14.5% simple…

A: Simple interest is interest without compounding.

Q: What is the time period of a loan for $2,250, at 13% exact interest, if the amount of interest is…

A: Loan = 2250 Interest Rate = 13% Interest Amount = 110.59

Q: The exact interest on a loan of P3728 at 7.4% annual simple interest for 95 days is Round your…

A: The rate at which you borrow or lend money is called simple interest. If a borrower takes money from…

Q: What is the time period of a loan for $3,000, at 10% ordinary interest, if the amount of interest is…

A: In contrasts to a fee that the borrower may pay the lender or another party, interest is a payment…

Q: Assuming that interest is the only finance charge, how much interest would be paid on a $5,000…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: Interest is $405 on a principal balance of $5,000; assuming a 7 month loan what is the rate

A: We can determine the annual interest rate by rearranging the simple interest formula below:In the…