$13,376.39 was the interest earned on lending $94,600.00 for 7 years, what was the quarterly compounding nominal interest rate charged on the loan?
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If $13,376.39 was the interest earned on lending $94,600.00 for 7 years, what was the quarterly
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600
- A$35,000loan bearing interest at5%compounded quarterly was repaid, after a period of deferral, by quarterly payments of$1573.83over 12 years. What was the time interval between the date of the loan and the first payment?If a loan of ₱45,000 will amount to ₱76,400 when converted quarterly for 3.25 years what interest rate took effect?What is the principal remaining after 20 monthly payments have been made on a $20,000 five-year loan? The annual interest rate is 12% nominal compounded monthly. (a) $10,224 (b) $13,333 (c) $14,579 (d) $16,073 (e) $17,094
- A debt of $36,000 is repaid over 10 years with payments occurring quarterly. Interest is 8% compounded semi-annually. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 27? (c) What is the interest paid on payment 28? (d) How much principal is repaid in payment 28?Determine the principal remaining after 38 monthly payments have been made for a 5-year loan of P40,000? Rate of interest is 8% compounded quarterlySuppose that a company borrows 20,000 for 1 year at a stated rate of interest of 9 percent. What is the annual percentage rate (APR) if interest is paid to the lender in annually? semiannually? quarterly?
- The interest amount on a $46,500 loan was $24,785.95. The interest rate charged on loan was 9.20% compounded semi-annually. a. What was the accumulated value of the loan? Round to the nearest cent b. What was the time period of the loan? years monthsA debt of $36,000 is repaid over 12 years with payments occurring monthly. Interest is 12% compounded quarterly. (a) What is the size of the periodic payment? What is the outstanding principal after payment 55? (b) What is the interest paid on payment 56 and How much principal is repaid in payment 56? what is the total amount of the monthly payments for a 5-year loan is $10,692. The APR is 7%. How much money was originally borrowed?
