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 is the APR on this loan?

A: Interest is the cost of borrowing a loan. It is the excess amount over the principal borrowing.…

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: Use the exact interest method (365 days) and the ordinary interest method (360 days) to compare the…

A: Principal Amount = p = $7310 Interest rate = r = 7% Time = 13 days

Q: Suppose you take out a loan for 180 days in the amount of $11,500 at 14% ordinary interest. After 60…

A: A loan is an amount borrowed by a party in exchange for its repayment along with some interest.

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: A loan of $1000 is paid off in 12 monthly payments of $120 each. What is the effective annual…

A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…

Q: wer takes out a 10-year mortgage loan for $300,000 with an interest rate of 7%. What portion of the…

A: Interest payments:Interest payments refer to the amount of money that is paid by a borrower to a…

Q: The monthly payments on a 15-year loan of $20,000 at 6.8% interest are $177.54. (a) What is the…

A: Ordinary annuity is when the PMTs are made at the end of the period.

Q: Suppose that you took out a loan at 12% interest for 200 days. If the amount of interest was…

A: Interest rate = r = 12% Time = t = 200 days Interest amount = i = $710.14   Number of days in Exact…

Q: A loan is taken out at j12 = 18% and is paid back with monthly payments of $279.00, plus a smaller…

A: Annual interest rate j12 = 18% (i.e compounding monthly)henceMonthly interest rate = 18% / 12 =…

Q: Find the Simple Interest on a $ 50,000 loan at 15 ½2 % annual interest for ¾ year.

A: The simple interest is based on the amount of loan (P), the given interest rate (r), and the number…

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: 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: The weekly payment on a 4-year loan at 6.8% compounded weekly is $321.09. Calculate the amount of…

A: The amount of the loan has to be computed using the present value of expected cash flows. The…

Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

A: Solution Rate (in %) for the loan = Interest / principal amount * 360/ days of loan

Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

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

Q: installment loan at 18%. The final payment is to be made on $238.42 principal.what is the final…

A: Loan: It refers to the amount of credit given by the lender to the borrower.  The borrower makes…

Q: The interest rate on a $118,000 loan is 8.9% compounded semiannually. The monthly payments on the…

A: a) To calculate the interest component of Payment 210, we first need to find the balance of the loan…

Q: What is the total interest paid on a loan of $5,000 at APR = 10% for one year.

A: Loan amount = $5000 Interest rate = 10% Period = 1 year

Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

A: Principal Amount = p = $185,000 Time = t = 2 years Interest amount = i = $24,050

Q: Find the exact interest on a loan of 33,000 at 7% annually for 35 days

A: A loan means receiving money from a bank or other financial organization. The borrower commits to…

Q: What is the total interest paid on a loan of $5,000 at APR = 8% for one year.

A: Loan amount (LV) = $5000 Interest rate (r) = 8% Period (n) = 1 Year

Q: Find the annual simple interest rate of a loan, where $300 is borrowed and where $315 is repaid at…

A: Simple interest is an amount of interest that is paid on the principal portion of a loan or deposit.

Q: Find the interest refund on a 35​-month loan with interest of ​$2,834 if the loan is paid in full…

A: Data given: Total months =35 Remaining months = 13 Interest =$2834 Find=Interest refund=?

Q: Monthly payments are required on a $35,000 loan at 6.0% compounded monthly. The loan has an…

A: A loan is a financial transaction where one party, typically a lender or financial institution,…

Q: You take out 1 $10,000 loan for 7 years at an annual interest rate of 5% and with fixed annual loan…

A: Borrowed amount is $10,000 Annual interest rate is 5% Payment per year is $1,728.20   To Find:…

Q: You are to repay a loan of $3600.00 with 17 quarterly repayments of $240.00, with the first…

A: Given  Loan = $3600 Number of payment = 17 PMT = $240 Interest rate = 7.8390% quarterly compounded…

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 simple interest paid on a $510 loan at 7.8% annual interest for 19 months.

A: Simple interest can be calculated as: = Principal * Rate * Months / 12

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: Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to…

A: Ordinary interest is a method of interest calculation where the principal amount remains the same…

Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 3 years

A: Compound interest is the interest on a loan or deposit calculated based on both the initial…

Q: Balloons By Sunset (BBS) is considering the purchase of two new hot air balloons so that it can…

A: According to bartleby guidelines , if question involves multiple sub parts , then 1st sub 3 parts…