A company borrowed $7,700,000 from a bank.The company repaid the loan after 3  years with a single payment of $9,500,000. The compound interest rate (i) on the loan is:

Q: During four years of college, Nolan MacGregor's student loans are $4,000, $3,500, $4,400, and…

A: a) Given that the loan for four years is $4,000, $3,500, $4,400, and $5,000.Also the freshman year…

Q: College Tuition A couple wants to establish afund that will provide $3000 for tuition at theend of…

A: From given R=3000,i=0.04,n=8

Q: mr. and mrs lkan deposite $15,000 into college saving account with an annual compound interest rate…

A: Given that Mr. and Mrs. Ikan deposited $15,000 into college saving account with an annual compound…

Q: If you borrow (P) $7,000 at an interest rate of 12% per year compounded semiannually, with the…

A:

Q: You borrow $48,000 at 8.7% compounded monthly.  If you make monthly payments for 10 years, how much…

A:

Q: Andre takes out a student loan for his first year of civil engineering. The loan agreement states…

A: Given query is to find the loan amount.

Q: You want to buy a new car. You can afford payments of $475 per month and can borrow the money at an…

A: Given information Payment=$475 per month Interest rate r=6.7% Since, interest id compounded monthly…

Q: Find the simple interest and future value of a loan of $20,000 for 4 years at an interest rate of 5%…

A:

Q: Mario borrowed a certain amount of money on June 2000 from Albert. Two years later, Mario borrowed…

A: Given: Mario borrowed a certain amount of money in June 2000 from Albert. Two years later, Mario…

Q: 5. Gary invested $15 000 in a plan that paid 2.5 % per year, compounded quarterly, for 2 years. At…

A:

Q: SAVINGS ACCOUNTS If Jackson deposits $100 at the end of each month in a savings account earning…

A: Consider the given information: P= $100   (amount deposited each month) r=3% n=12 (compounded…

Q: 4) Jorge takes out a $185,000 mortgage loan to buy his first home. The mortgage has a 4.5% interest…

A: We will find the monthly payment and intrest amount after 30 years as shown below

Q: Mr. Dela Cruz obtain a loan for P2,000,000 at the rate of 12% compounded monthly in order to build a…

A: Here we want to calculate monthly cost to clear the loan within 10 years.

Q: A man buys a house for $390,000. He makes a $150,000 down payment and amortizes the rest of the…

A: price of the house is $39000 down payment is $150000 so the loan amount is

Q: You start a retirement fund. You can afford to make monthly deposits of $200 into an account earning…

A:

Q: Sallie wants to buy a new home.  She will borrow $400,000 at 3% compounded monthly for 30 years.

A: Given, Initial amount: Interest rate: Interest rate for compounded monthly: Number of years:…

Q: Find the amount of an ordinary annuity for 6 years of semiannually payments of $1,400 that earn…

A:

Q: For Exercis, find the value of an ordinary annuity in which regular payments of P dollars are made…

A: Given

Q: How much could you save for retirement if you chose to invest the money you spend on Starbucks…

A: Cost of 1 cup of coffee is $4.35. Therefore, the total cost of coffee = $4.35×50=$217.5. This is the…

Q: You want to buy a $19,000 car. The company is offering a 3% interest rate compounded monthly for 60…

A: Given that you want to buy a $19,000 car. The company is offering a 3% interest rate compounded…

Q: Harris Machinery received a demand loan of $170,000. It repaid $70,000 at the end of the first year,…

A:

Q: How much could you save for retirement if you chose to invest the money you spend on Starbucks…

A:

Q: Using daily compounding, calculate the compound amount (in $) of a $7,000 investment for each of the…

A: Here we have to find out amount for different national banks.

Q: Marcus receives an inheritance of ​$13,000. He decides to invest this money in a 12​-year…

A: Marcus receives an inheritance of $13,000. He decides to invest this money in a 12​-year certificate…

Q: Shannon finances her new car with a $9,900 auto loan. The loan has a 5-year term at a fixed annual…

A:

Q: Nabras borrows OMR 4800 for 10 months at a simple interest rate of 8% per year. Determine the…

A:

Q: Gallant takes out a 15-year mortgage for $250,000 at 3.6% compounded monthly .a) What are his…

A: given, Gallant takes out a 15-years mortgage for $250,000 at  3.6% compounded monthly. We know that,…

Q: A loan of $5000 is paid off with payment of $532.76 made at the end of each six month period for six…

A: NOTE: Refresh your page if you can't see any equations. . here we have  PMT=532.76 n=2 for…

Q: 21. A consumer loan of P35,000 is to be paid in 36 months at 10% compounded monthly. What isthe…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Henry buys a new house. He takes out a loan worth $400000, with an annual interest rate of 7%,…

A:

Q: 40 Find the compound amount (A_n) on a loan of ₱600,000 at 6% for 8 years compounded semi-annually.

A:

Q: A 25-year mortgage on a house requires payments of $915.60 at the end of each month. If the interest…

A:

Q: want to be able to withdraw $40,000 each year for 20 years. My account earns 4% interest compounded…

A: To determine the amount that needed to invest in the beginning in order to withdraw $40,000 each…

Q: Typos borrowed $16500 to pay for the wedding of his daughter. Typos repair the loan after 3 years…

A:

Q: Insurance Payment A man is disabled in an accident and wants to receive an insurance paymentthat…

A: Given Insurance payment=$3000For 30 years and pays 9% compounded monthly

Q: Prime Real Estate plans to raise $725,000 over a 4-year period so they can purchase a piece of heavy…

A: Here we solve the given problem of Algebra.

Q: (b) Tom and Annie are buying a house and have taken out a 20 year, $250,000 mortgage at 6% interest,…

A: We have to find the monthly payment and interest.

Q: A man borrows ₱40,000 loan at an interest rate of 4% for 8 years. QUESTION: If the loan is made…

A:

Q: You borrow $450,000 from a bank to buy a house, at a rate of 2.25%, for 30 years. How much will your…

A: In the given problem,  P=450,000 $r=2.25% compounded monthlyt=30 years Here, interest is compounded…

Q: For a loan of $55000 with an annual interest rate of 5% p.a. compounded monthly, and monthly…

A: State the givens in the question: Loan Amount = PV = $55,000 Periodic payment = C = $1100 Interest…

Q: Rich buys a car for $28,000 and has two options for financing. The dealership offers either…

A: Solution:-. calculate the principal by compounded monthly.

Q: 4. Calculating Annuity Present Value. An investment offers $7,000 per year for 15 years, with the…

A: Given:  A=$7000 r=9%=0.09 n=periods to pay Present ValuePV=A1+rn-1r1+rn i) n=15 years Present…

Q: In order to start a small business, a student takes out a simple interest loan for 8000.00 for 3…

A: The objective is to find the interest and future value.

Q: Five annual deposits in the amounts of $14,000, $13,000, $12,000, $11,000, and $10,000, in that…

A: Amount after n years when compounded annually is given by  P(1 + r)n where, n = time  r = interest…

Q: Sean Lee purchases $20,000 worth of supplies for his restaurant by making a $3,000 down payment and…

A: According to the given information: debt is of $20,000, down payment=$3000, time period=6 years,…

Q: Annuities Find the present value of an annuity thatwill pay $500 at the end of each year for 20…

A: Annuity is similar to a long term insurance that we pay periodically and receive disbursements in…

Q: Jon borrows $12,000 at 5% compounded monthly. He makes regular loan payments of $350 each month. a)…

A:

Q: A recent high school graduate received ​$700 in gifts of cash from friends and relatives. In​…

A: This question is related to compound interest, We will solve it using given information.