You are quote for a loan as 14.5% per year, compounded monthly. What is the effective yearly interest rate (APY) to 1 decimal point?
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You are quote for a loan as 14.5% per year, compounded monthly. What is the effective yearly interest rate (APY) to 1 decimal point?
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- Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?What is the effective monthly interest rate for a loan with a 12% nominal annual interest rate if the loan is compounded (a) semi-annually, (b) monthly, or (c) continuously? (to 5 decimal places)If $900 is borrowed and the interest after 6 months is $63, what is the annual interest rate for a simple interest loan? Rate= %
- Suppose that one has a bank loan for P15,584.48, which is to be repaid in equal end-of-month installments for 9 years with a nominal interest rate of 0.114 compounded monthly. What is the amount of each payment?3. a) Calculate the interest rate applied in a loan of P1000 with repayment of P1100 and duration of 10 months. b) What is the monthly interest, daily interest, equivalent to the yearly interest found in a)?If $800 is borrowed and the interest after 6 months is $44, what is the annual interest rate for a simple interest loan?
- 6.I need help with finance homework questions asap. (rounded to 2 decimal places) What is the effective annual rate on a loan with a quoted rate of 7.45% compounded semi-annually?What is the effective interest rate (APY) for a loan of $8,500 at 12% APR compounded monthly? use the formula method.Given the following loan information: Annual loan payment = $47,100 Number of remaining periods = 6 Interest rate = 12% What is the book value of the loan?
- If you borrow $7,500 at $550 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.) a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective Rate of Interest % % %1. What is the simple interest due on a 15 days loan of P75,000.00 if the annual rate is 6%.An investment pays you 9% interest, compounded quarterly. What is the periodic rate of interest? What is the nominal rate of interest? What is the effective rate of interest?
