Find the interest on the loan using the Banker's rule. P= $2.000, r= 11%, 1 = 90 days

Q: Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $50,000 9 months 4…

A: As posted two independent questions we are answering only first question kindly repost the…

Q: Lexi took out a loan from a loan shark with an interest rate of 5% bi- monthly, compounded…

A: Let the principal = X Loan amount after 1 year (Y) = $14147.19 Interest rate = 5% bimonthly…

Q: Use the formula A = P(1 + rt) to calculate the maturity value of the simple interest loan. (Round…

A: Simple interest is the interest changed on loans which can be calculated by multiplying the…

Q: Reya paid Php 9,250 on a loan made 6 months before at 12% simple interest. Find the interest…

A: Simple interest is simple interest without any compounding that means no interest on interest…

Q: A finance company uses the discount method of calculating interestThe loan principal is $4,500, the…

A: Discount method is one of the methods to provide a loan. Under this amount loan amount is provided…

Q: Find the Simple Interest on a $ 50,000 loan at 15 ½2 % annual interest for ¾ year.

A: The simple interest is based on the amount of loan (P), the given interest rate (r), and the number…

Q: 4. You borrowed $10,000 on a 10% discounted loan for a period of 8 months. a. What is the loan's…

A: Mortgage/ Borrowings:  A mortgage represents a credit given to the borrower by the lender for the…

Q: Prepare the following calculations. principle on a note is $ 4,000, interest rate is 5%, time is 2…

A: 1. Interest = Principle x Interest rate x Time in Years = $4000 x 5% x 2 = $400 2. Interest =…

Q: A bank makes a car loan of $11,300, at 6.6% interest and with a loan period of 3 years. What is the…

A: A stream of equal cash flows paid or received periodically is termed as annuity. Annuity is either…

Q: Martinez Sporting Goods borrows $4,500, at 5% interest, for 120 days. Use the exact interest method…

A: Interest amount is the fixed amount that the lender will charge for lending some amount for certain…

Q: Use the formula A = P(1 + rt) to calculate the maturity value of the simple interest loan. (Round…

A: Given information: Principal (P) is $12,000, Rate of interest (r) is 8.3%, Number of months (t) is 8…

Q: Calculate the annual payments for a $15,644 loan that you will repay over 5 years. The bank gives…

A: Annual payments (P) on a loan (PV) of amount $15,644 with an interest rate ( r ) of 6.6% and with 5…

Q: Piotr takes out a loan for $3,159.00. The term of the loan is 10 yea is 7.775% compounded bi-weekly.…

A: Loan are to be paid by the installments which include interest and principal payments.

Q: Find the simple interest owed for the loan. $2650 at 4.87% for 29 months The interest charged on a…

A: Given: Loan = $2,650 Interest rate = 4.87% Periods = 29 months

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: What is the maturity date of a loan for $8,000 at 15% exact interest taken out on June 5?

A: Given information is: Loan amount = $8000 Interest rate = 15% Interest amount = $240

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: Find the amount of interest (in $) on a loan of $4,000, at 5% interest, for 70 days using the exact…

A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…

Q: Given a $5,000 loan at 8% for 90 days, compare the interest accrued using the standard method (365…

A: calculate interest under standard method Interest = ($5,000 / 300) * 85 * 90 /365) Interest  =…

Q: A financing company charges 1.5% per month on a loan. Find the equivalent effective rate of…

A: An interest rate that is modified to eliminate the impacts of inflation in order to reflect the…

Q: Find the amount (in $) of interest on the loan.

A: Interest: It refers to the monetary charge paid by the borrower to the lender for taking a loan. It…

Q: Borrowed $5,000 at a simple interest rate of 10% p.a. and charged interest of $600. What is the time…

A: Principal Amount(P) =$5000 Interest rate(r) = 10% Interest Amount(I) = $600 Time Period =t As per…

Q: Find the amount of interest (in $) on a loan of $6,000, at 5% interest, for 80 days using the exact…

A: Under the ordinary interest method, the number of days in a year is assumed to be 360, but under the…

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

A: In the question it is given that the cost of the loan is $1.00 per day per $100 borrowed until the…

Q: Assume the following information for a car note: Original loan amount = $23,500 Annual interest rate…

A: Calculation of Principal Balance:The principal balance on the loan after six months is…

Q: The simple interest charged on a 11-month loan of $54,000 is $732. Find the simple interest rate.…

A: simple interest can be given by the formula: I=P×R×T100

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: FIND THE SIMPLE INTEREST ON A 50,000 LOAN AT 14 1/2% FOR 7 MONTHS.

A: Simple rate of interest = 4,229.17

Q: Borrowed $500 for 1 year and paid $50.00 in interest. Bank charged $5.00 service charge. What id…

A: Finance charge:The finance charge is the overall sum of the amount of interest and loan charges that…

Q: At a payday lending company, a loan of $500 will accrue interest as follows: Loan Duration Interest…

A: We have to calculate the annual simple interest rate in the first case, when principal and the…

Q: the debt is paid off. How long does it take to pay off the credit card debt? ..... out the table row…

A: In this we need to consider the monthly payments and fill the table.

Q: A finance company uses the discount method of calculating interest. The loan principal is $5,000,…

A: Future Value = Present Value * (1+r)^n

Q: 1. Based on the information, determine the value of each “ ? “ in the following table Loan principal…

A: We need to compute annual installment amount of loan. This can be computed with the help of PMT…

Q: Use exact interest method to find rate of interest on a loan of $9000 for 354 days if amount of…

A: Given   Loan Amount 9000 Number of days 354 Amount of Interest  489.5 Method of interest…

Q: A bank has agreed to lend you $127,800 for a home loan. The loan will be fully amortized over 57…

A: Amortization is a term used in business to describe the process of spreading payments out over time.…

Q: Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $70,000 8…

A: Interest Amount = Principal * Interest rate * Number of months / 12

Q: A man borrowed P18,400.00 from a credit union that charges 8% simple interest for 1 year and 9…

A: Total months = 12 + 9 = 21 months

Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 4 years.

A: Loan amount = $5000 Interest rate = 6% Period = 4 Years

Q: .A bank offers a 272- day discounted loan at a simple discount rate of 12%. (a) How much money would…

A: The discount on loan is given and that discount on loan is the interest being charged on the loan…

Q: For a personal loan amount of $5,000 @ 10.5% APR due in nine (9) months, a) what is the total…

A: Loan = 5000 Annual Percentage Rate = 10.5% N = Time Period = 9 months

Q: Find the amount of interest (in $) on a loan of $6,000, at 5% interest, for 60 days using the exact…

A: Exact interest rate is basically the method in which exact number of days are taken to calculate the…

Q: he chart below shows the payments made towards paying off a $12,000 loan. How ch of the third…

A: Interest amount on loan = EMI amount (periodic equated payment) - principal portion

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: Hagar Company's bank requires a compensating balance of 10% on a $100,000 loan. If the stated…

A: Compensating balance: A compensating balance is a minimum amount of cash that must be maintained by…

Q: A loan for RM6,500 with a simple interest rate of 18% was made on June 15 and due on September 15.…

A: Loan amount (P) = RM6500 Interest rate (r) = 18% Period from June 15 to September 15 (d) = 92 days

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…

Q: Mark takes out a loan for $20,000. The loan has 2% interest rate and a 2.5% APR. Complete the…

A: The sum of the interest plus fees on this loan = Loan Amount * APR