you are paying of a purchase made with a down payment of 50000 usd. you will pay the rest of 245000 in 5 installments equalling 49000 for 5 months. what is the interest rate that will help pay off your total purchase.

Q: Suppose you borrow $8500 for a term of five years at a simple interest and 8.25% APR. how much is…

A: Interest is the cost of borrowing the money.

Q: Consider a credit card with a balance of $7000 and an APR of 12.5%. If you want to make monthly…

A: The objective of this question is to calculate the total amount paid over 11 years to clear a credit…

Q: If you deposit money today in an account that pays 5% annual interest, how long will it take to…

A: Interest rate (r) = 5% Future value factor required (FVF) = 3 Period = n

Q: What is the effective interest rate charged to a loan of P5,000 paid after 5 years amounting to…

A: Effective Rate of Interest is the percentage return on the amount invested into any return paying…

Q: You want to buy a $255,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…

A: Amount of home = $255,000 Down payment = 5%  The time duration of the loan = 30 years

Q: n item is 10000, payable in 10 days but if paid in 30 days there will be a P30 discount. Find the…

A: Simple interest = Principal * rate* time (n).

Q: Suppose you have $2,100 and plan to purchase a 10-year certificate of deposit (CD) that pays 13.1%…

A: Value when the CD matures = 2100 x (1 + 0.131)^10 = $7191.93

Q: In return for a loan of £500, a loan shark charges £1 per day payable when the loan is paid back.…

A:

Q: Suppose you decide to take the tour now and use a 15% credit card for the purchase. A. How many…

A: Hello. Since your question has multiple sub-parts, we will solve first the three sub-parts for you.…

Q: rate

A: Introduction: Simple interest can be defined as interest which is computed from the principal loan…

Q: Suppose you want to apply for a loan of $500,000 with repayment tenure of 5 years. The interest rate…

A: The objective of the question is to calculate the Annual Percentage Rate (APR) of the loan. The APR…

Q: se you recently bought a house for R1 650 000 and secured a home loan from the bank, with an…

A: Mortgage loans are paid by equal monthly installments and these carry the payment for interest and…

Q: Suppose you have $1,000 and plan to purchase a 1-year certificate of deposit (CD) that pays 0%…

A: The maturity amount of a certificate of deposit can be calculated using the compound interest…

Q: If you deposit money today in an account that pays 3.4% annual interest, how long will it take to…

A: Given information: Let us suppose the present value is $1,The interest rate is 3.4%Future value is…

Q: You've been offered a loan of $10000, which you will have to repay in 10 equal annual payments of…

A: We take loans to buy large ticket items like a car or a house or to fund high expenses like college…

Q: What would be the total interest paid

A: Interest is charged on the amount lent by the lender to the borrower. In short, any excess payment…

Q: ut an $8,000 car loan that calls for 7 annual payments of $2,400 each.  What is the interest rate?

A: Annual payments are made for payment of loan which carry the interest and payment of principal…

Q: If you need a loan for $16000 and make a down payment of 5%, then finance the balance with a 3-year…

A: A loan indicates the sum borrowed to meet the specific personal or business needs. The loan is…

Q: A person is repaying a loan of $50000 at $200 per month. The interest rate is 3% per month. Form a…

A: PMT is the periodic payment made.

Q: What is the simple interest due on a 5 year loan of 4,00,000 if the annual rate is 6%.

A: Simple Interest is a method of calculating interest on the loan. It is calculated on the amount…

Q: You have a balance of $8,000 on your credit card.  The interest rate is 19% per year.  You want to…

A: Solution:- When an amount is due for repayment, it can either be repaid as a lump sum payment or in…

Q: If you borrow $2,200 and agree to repay the loan in five equal annual payments at an interest rate…

A: Loan means lending money by one or more individuals or organizations to other individuals or…

Q: Find the interest that will be deducted in advance from a loan of P25,000.00 due in 2 years if the…

A: Given Information : Amount of loan = ₱25,000 Annual interest rate = 6% Number of years = 2

Q: You currently owe $118,580.44 on your mortgage loan, with an interest rate of 6.8%. Interest rates…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: In one year you will receive 1800. In two yeara you will receive 1, 900. The discount rate is 4%.…

A: PV = FV / (1 + r)nWhere:PV is the present valueFV is the future valuer is the discount rate (here,…

Q: You take out a 5-year car loan for $16000 at a 6% interest rate. Calculate the fixed monthly payment…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: A house that sells for P900,000 can be purchased under terms requiring 100 monthly payments. Assume…

A: Given that;Present value is P900,000Number of periods is 100

Q: Define the annual percentage rate (APR). Suppose you borrow $3,621.15 and take out a loan with an 8%…

A: Annual Percentage Rate (APR)The Annual Percentage Rate (APR) is the yearly cost of borrowing money…

Q: Determine the monthly payment if you take out a loan for $ 180000 with an annual interest rate of…

A: Loan amount (PV) = $180,000 Interest rate = 8.25% Monthly interest rate (r) = 0.0825/12 = 0.006875…

Q: ou have monthly interest rate of 1.65% and a balance on your credit card of 2000.00. If you paid the…

A: To determine the interest amount and percentage that goes towards reducing principle.  The amount of…

Q: You are considering taking out a loan of $17,000.00 that will be paid back over 5 years with monthly…

A: Here,ParticularsValuesLoan amount (PV) $ 17,000.00Term of loan 5.00Number of months in a…

Q: Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is…

A: Here,

Q: You want to buy a $130,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…

A: Down payment: When an asset is bought or a loan is taken, there would be some token amount that…

Q: You want to buy a $216,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…

A: A home indicates the sum borrowed to purchase a new house. A home loan offers funding to afford the…

Q: You are taking out a new loan of $140,000 that includes an origination fee of 4.5%. How much money…

A: Given, New loan = $140,000 Origination fees = 4.5%

Q: You plan to buy a car for R250 000, you will give a deposit of R25000. The remainder of the cost…

A:

Q: You are paid £2,500 annually for 6 years, with the first payment due in one year and the last…

A: Present value = Annuity * PVA of 1

Q: You borrow $260,000.00 that charges you 6.1% interest, compounded monthly. You will make payments…

A: Monthly Payment (PMT) = P * r * [ (1 +r)n /({1 + r}n -1)] Where P = Principal amount borrowed…

Q: SM corp has loaned you P1,000. The interest rate you must is 20% compounded monthly. The loan will…

A: Given: Loan amount =P1,000 Interest rate = 20% Periods = 24 Compounding = monthly