Anny takes out a loan of $1,400, at 4% interest, for 42 months. Use the formula  MV = P + I  to find the maturity value (in $). $ ____

Q: A payday loan provides short-term loans ranging from $250 to $2,000. Assume the cost of the loan is…

A: Short term loan: Short-term loans are borrowed funds used to fulfill immediate liquidity demands,…

Q: Your business requests a 3-month loan for $500,000. What will be the interest paid at the end of the…

A: The annual percentage rate refers to the yearly rate of interest paid for a loan or received from an…

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: Find the refund fraction on a 30-month loan with interest of $2,802 if the loan is paid in full with…

A: Refund fraction is the amount of interest refund a lender makes to the borrower because of early…

Q: Devon takes out a loan of $1500 at 6 1/2 % simple interest for 56 months. What is the maturity value…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: Steve Perry borrowed $40,000 at 12% ordinary interest for 60 days. On day 20 of the loan, Steve made…

A: First we need to use ordinary interest formula to calculate interest amount on loan Ordinary…

Q: loan

A: Formula to calculate t under simple interest is: t = i/Pr where t is the time period, i is the…

Q: Assume that you take out a $7000 loan for 46 months at 7.5% APR. How much total interest will you…

A: Loan: It is the amount of money borrowed from a person or bank or company for a certain period…

Q: Suppose you have a loan of $120,000 at an APR of 4.4% for 1 year. a. Write an amortization schedule…

A: Loan Repayment and the Amortization Schedule: A loan can be repaid by making smaller equal payments…

Q: Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments…

A: Loan is amount borrowed by some investor or company from the stock market or taken by individual…

Q: Suppose you purchase a home and obtain a 15-year fixed-rate loan of $195,000 at an annual interest…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Suppose you borrowed Php 30,000 on a student loan at a rate of 8% and must repay it in three (3)…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Consider the following loan: a 60-month, $45,000 car loan with a 12% APR, compounded monthly. Assume…

A: The principal amount is the amount of loan that you owe, whereas the interest amount is what the…

Q: Kiara obtained a loan of $22,500 at 6% compounded quarterly. How long (rounded up to the next…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an…

A: Formula: Interest amount = Loan amount x Interest rate x Time period

Q: Jack borrows $7,000.00 at an interest rate of 15% compounded monthly to be paid off monthly payment…

A: Answer Correct option $6,467.70

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: . You have a line of credit loan with Scotiabank. The initial loan balance was $6000.00. Payments of…

A: Line of credit can be determined as the predetermined credit limit. Any amount within the credit…

Q: Braxton used the Quantitative Reasoning Process to create a plan to pay off his credit card loan of…

A: The correct answer is $6,399.5.

Q: An automobile loan of $26,000 at a nominal rate of 12% compounded monthly for 48 months requires…

A: Amortization table is a schedule which shows periodic lease or loan payments. The periodic payment…

Q: A loan of $1575 taken out on June 7 requires three payments. The first payment is due on July 7. The…

A: The focal date of the loan is 7th June. The first payment is due on 7th July, the second payment is…

Q: If the finance charge on a loan made by Marjorie Young is $1,525 and the loan is to be paid in 36…

A: The cost of borrowing money, including interest and other costs, is a lending expense.

Q: A loan shark made a loan of 5,000 to be repaid with 5,500 dollars at the end of the two months. What…

A: Simple interest = Principal * Interest rate percentage * period   Given: Loan value = 5000 Amount to…

Q: Construct an amortization schedule for a $1,000, 12% annual rate loan with 4 equal installments.…

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: Assume you have a balance of $1000 on a credit card with an APR of 24%, or 2% per month You start…

A: By using credit cards, people usually spend more money and people who actually pay their credit…

Q: What is the simple interest on a Php 500 loan at 25% interest to be paid at the end of 6 months

A: Simple interest = Amount of loan * Interest rate % * time

Q: A payday loan provides short-term loans ranging from $250 to $2,000. Assume the cost of the loan is…

A: Given information : Range of short term loans = $250 to $2000 Cost of the loan = $1 per day per $100…

Q: Anny takes out a loan of $1,400, at 8% interest, for 42 months. Use the formula  MV = P + I  to…

A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: Using a spreadsheet program, create an amortization schedule for a 30-year mortgage of $500,000 at…

A: Amortised Schedule is the table showing the loan repayment schedule which contains the Installment…

Q: Assume you have a balance of $1200 on a credit card with an APR of 24%, or 2% per month. You start…

A:

Q: 2. Prepare a loan amortization schedule for the first 3 months of the mortgage loan shown in the…

A: Loan amortization is the process of reimbursement of loan periodically by the borrower of the loan…

Q: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an…

A: The process of creating financial statements to indicate an entity's financial condition is known as…

Q: 1. A loan of Php 2,500 is made for a period of 13 months at an interest rate of 5%, compounded…

A: (1.) The formula for calculating the future amount due on a loan with compound interest is: FV= P ×…

Q: Your business requests a 3-month loan for $500,000. What will be the interest paid at the end of the…

A: Loan Amount = $ 500,000 Business risk = 2.2% LIBOR = 2.8%

Q: Sheridan Service has a line of credit loan with the bank. The initial loan balance was $6000.00.…

A:

Q: Complete the following table: Selling price $231,000, Down payment $46,200, Amount mortgage…

A: Interest amount = Mortgage amount * Interest rate Interest amount =$184,800 * 7%/12 Interest amount…

Q: Ms. Esperanto obtained a $41,800 home equity loan at 9.2% compounded monthly. (Do not round…

A: Amortization loan An amortized loan is one in which the loan's principal is paid down according to a…

Q: The total amount paid on a GSIS loan is ₱41,500. If the loan was paid within 30 months at 6 ¼ %…

A: Given Information: Total amount of Loan Paid(A) = ₱41,500 Time Period = 30 months Simple Interest(r)…

Q: 1. What is the maturity date of a loan taken out on May 16, for 53 days? A. June 30 B. July 1     C.…

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

Q: Mr. Bean wants to borrow $9,100 for three years. The interest rate is 7.1% compounded monthly. a.…

A: Installment loan is the debt which is discharged by making annuity payments consisting of two…

Q: Sheridan Service has a line of credit loan with the bank. The initial loan balance was $8000.00.…

A: Present Value Future  value of sum of money  are measured  at the current value. It is called…

Q: Anny takes out a loan of $1,400, at 8% interest, for 54 months. Use the formula MV = P + I to find…

A: The maturity value (MV) of a loan is the total amount you must repay, including the principal and…