asssuming that the interest is the only finance charge, how much interest would be paid on 5,000 installment loan to be repaid in 36 moonthly installment 166.10? what is the apr on this loan?

Q: A Forward Rate Agreement contains an agreed interest rate of 5.75% on a 6-month loan. If settled at…

A: Forward rate agreements are used by entities to hedge against the interest rate risk. It is 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: What was the interest rate on a 3.5-year loan, $1000 loan if the simple interest paid was $297.50?

A: Interest rate = (Total interest / amount) * (1/time)

Q: Using this table as needed, calculate the required information for the mortgage. (Round dollars to…

A: Given: PV =1000Monthly rate =APR12=7.25%12=0.00604166667Total months in 15 years (n)=15×12=180

Q: Please show all equations and work as needed. Make the correct answer clear. If possible, please…

A: The computation of net amount is as follows:Hence, the net amount of funds from the loan is $511560.…

Q: Using this table as needed, calculate the required information for the mortgage. (Round dollars to…

A: Amount Financed = $ 162,300 Interest rate(r) = 7.25% per annum = 7.25%/12 = 0.60416667 % Terms =…

Q: A loan is offered with monthly payments and a 8.50 percent APR. What's the loan's effective annual…

A: Effective annual rate is the rate that is actually earned. It can be calculated Effective annual…

Q: a. The monthly payment is $141,126.2179 (Do not round until the final answer. Then round to the…

A: Monthly Payment on Loan: It is the payment made on the loan outstanding at a specific interest rate.…

Q: What is the amount of compensating balance would be required for a nominal interest rate of 12% to…

A: Nominal interest rate (r) = 12% Effective interest rate (i) = 14.40% Let the compensating balance as…

Q: A lender requires PMI that is 0.8% of the loan amount of $460,000. How much (in dollars) will this…

A: Given information: Loan amount is $460,000 PMI requires 0.8% of loan amount

Q: The following loan is a simple interest amortized loan with monthly payments.($) 6000 , (7 1/2 %), (…

A: a) Computation of monthly payment:

Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…

A: Using excel Rate function

Q: A mortgage loan should be fully repaid in 48 monthly installment of Rp5 million. If the loas is…

A: The formula of loan amortization: Loan amortization = Total installment - outstanding balances * (…

Q: A borrower gets a $75,000, 25 year, 13% loan with 4 points.  What is the true interest rate?

A: Given Information: Loan amount is $75,000 Number of years is 25 Interest rate is 13% 4 points on…

Q: The following installment loan is being paid off early. Calculate the rebate fraction, the finance…

A: The finance charged is the total cost that has charged for borrowed the specified amount for…

Q: What is the amount of compensating balance would be required for a nominal interest rate of 12% to…

A: Borrowings are the loan which is taken by the individual to meet its financial requirements. The…

Q: What is the Monthly Payment? In preparing an Income Statement, what is the Interest Expense for…

A:

Q: I constructed an amortization schedule for $1000, 10%, annual rate loan with three equal…

A: Loan amount = $ 1,000Interest rate, R = 10%Period, N = 3 yearsYearly installment each year, E = $…

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: The following loan was paid in full before its due date. a) Find the value of h using an appropriate…

A: Given: APR = 8.7% Regular Monthly Payment = $214. Number of payments after Payoff (n) =4

Q: You plan to borrow P10,000 from your bank, which offers to lend you the money at a 7.5% nominal rate…

A: Nominal rate (D)= 7.5% Borrowed amount = P10,000

Q: Which results in a lower total interest​ charge, borrowing ​$1,290 to be repaid 12 months later as…

A: Interest is an extra cost which is paid on the borrowed amount for the period. It increases the…

Q: In order to borrow $100,000 for a 5% loan on a discount loan basis with a 5% compensating balance;…

A: Whenever an individual is in need of extra funds to finance his or her purchase in case of less cash…

Q: A loan of $4100 is to be repaid in three equal installments due 110, 197, and 311 days respectively…

A: Loan amount = $4,100 Interest per anum = 6.89% Number of days in year = 365 Let the instalment…

Q: What would the loan payment amount and the interest payed for Kevan’s loan be if the PV=8500,…

A: The term loan payment amount refers to the total amount paid by an individual to pay off the loan…

Q: Using the APR table, how much interest would be charged for a $10,000 loan at 12.5% for 3 years?…

A: Computation of finance charge:

Q: Using this table as needed, calculate the required information for the mortgage. (Round dollars to…

A: The compounding factor is an important factor that determines the future value of the present money.…

Q: You plan to borrow $47,800 at an 8.5% annual interest rate. The terms require you to amortize the…

A: Loan amount (PV) = $ 47800 Interest rate (r) = 8.5% Number of annual payments (n) = 7

Q: Consider two loans with a 1-year maturity and identical face values: a 7.6% loan with a 0.97% loan…

A: Compensating balance: When a loan is taken it is mostly an installment loan, however considering the…

Q: ABC can take a 45-day loan with a 15% interest deducted in advance, to be reapplied each time. How…

A: Introduction: Interest Rate: Any extra amount which is paid against the money borrowed is referred…

Q: Investigate the effect of the interest rate on simple interest amortized auto loans by finding the…

A: Computation of monthly payment and total interest: Excel spreadsheet:

Q: Which results in a lower total interest charge, borrowing $790 to be repaid 12 months later as a…

A: The interest is an additional charge on the borrowed amount. It can determine on the basis of the…

Q: What is the balance of the loan at the end of year 3? $0.00 Round to the nearest cent c. By how much…

A: Loans are paid by the monthly equated payments that carry the payment for loan principal amount and…

Q: In order to solve this question, would I use the compounded monthly formula and then subtract the…

A: We will do it in following steps:First we will find out what should be the monthly mortgage payment…

Q: What amount should be paid on the maturity date to settle a one-hundred-twenty day loan dated March…

A: Interest = Principal * rate * time Interest = 15600 * 13.2857% * 120/365 Interest = 681.39

Q: If you borrow $1,000 at 8.5% simple interest and the loan requires a lump sum payment of $1,235.79,…

A: Future value = Principal + Simple interest Simple interest = Principal * Rate of interest * time

Q: (1) A 5-year auto loan for $20,000 has monthly payments at an 8% nominal annual rate. If the…

A: Annual percentage rate (APR) refers to the annual interest rate charged to borrowers or investors.…

Q: My friend is charging me 3.69% per month on loan. loan? What is the nominal interest rate per year…

A: The major difference between the nominal and effective interest is that the effective interest takes…

Q: If you borrow $1,000 at 8.5% simple interest and the loan requires a lump sum payment of $1,213.16,…

A: Interest on Loan = $1,213.16 - $1,000 Interest on Loan =$ 213.16

Q: Complete the following amortization chart by using Table 15.1. (Round your answers to the nearest…

A: given selling price = 182,000 rate = 6.5% time = 35 years

Q: Investigate the effect of the term on simple interest amortized auto loans by finding the monthly…

A: Loan Amount =$10,000 Interest rate = 678% = 558%=6.875%

Q: lender requires PMI that is 0.7% of the loan amount of $560,000. How much (in dollars) will this add…

A: PMI stands for Purchasing Manager’s Index. It is an indicator of activities of a business. It is…

Q: Find the APR of the loan given the amount of the loan the number and type of payments, and the add…

A: Annual percentage rate (APR) refers to a real interest rate which an investor is expect from his…