A short-term loan of £5,000 is repayable in 25 days at a simple rate of interest of 6% p.a. Assuming that 1 year is equivalent to exactly 365 days, calculate the following: (i) The amount of interest, to the nearest £0.01, accrued on the loan in 25 days; (ii) The annual effective rate of discount equivalent to this transaction, to the nearest 0.01%; (iii) The annual nominal rate of discount convertible monthly equivalent to this transaction, to the nearest 0.01%.

Find the interest paid on a loan of $2,700 for one year at a simple interest rate of 11% per year. The interest on a loan is S

Answer the given problem below. Attach a complete solution. A loan of P5000 is made for a period of 13 months, from January 1 to January 31 the following year, at interest rate of 20%. What future amount is due at the end of the loan period for an (a) ordinary and (b) exact interest rate?

A loan of £4,000 is to be repaid over 5 years by a level annuity payable monthly in arrears. The amount of the monthly payment is calculated on the basis of an interest rate of 1% per month effective. Find the total capital repaid and interest paid in the first and last month, respectively. Answer: The interest paid in the first month is a) £4000x1.01= £4040 b) £4000x(1-exp(-0.01))=£39.807  c)£4000x0.01= £40 d)£4000x0.12= £480 The repaid capital is    a)£0.535 b)£48.9778 c)£49.1771  d)£587.734          In the last month, the interest paid is                      a)£ 0.00535 b)£0.489778    c) £0.889778 d)0.491771  In the last month, the capital repaid is  a)£479.645 b)£431.358 c)£88.088 d)39.8007 They are multiple-choice questions

A loan of $4100 is to be repaid in three equal installments due 110, 197, and 311 days respectively after the date of the loan. If the focal date is the date of the loan and interest is 6.89% p.a., find the size of the installments. Answer to the nearest cent.

The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r. P = $4600.00, A = $4795.50, t = 6 months % (Round to the nearest tenth of a percent as needed.)

A loan of £4,000 is to be repaid over 5 years by a level annuity payable monthly in arrears. The amount of the monthly payment is calculated on the basis of an interest rate of 1% per month effective. Find a) The interest paid in the first month b)The repaid capital c)In the last month, the interest paid and the capital repaid

Find the APR of the loan given the amount of the loan the number and types of payment in the add-on interest-rate. Loan amount $15,000; three-year payments; rate equals 11%. The annual percent rate is? 

Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 3% and with $517.5 repaid at the end of the loan.

Determine the present value of a 4 month, 13 1/2 simple interest loan. if its final amount is 31,350