How much simple interest will a loan of 2500 for two years earn at 6%?

Q: If you repaid a loan of $3000 in 4 years with monthly installments of $86, what was the finance…

A: Computation:

Q: of loan can you get if you pay $700 each month at a yearly rate of 0.89% for 10 yea

A: The given problem can be solved using PV function in excel. PV function computes loan amount for…

Q: Suppose a $18,186 loan has an annual compound interest rate of 2.2% with semi-annual compounding…

A: In this question we need to calculate the Future value of the loan from details given as follows:…

Q: What is the effective interest rate charged to a loan of P5,000 paid after 5 years amounting to…

A: Effective Rate of Interest is the percentage return on the amount invested into any return paying…

Q: If you borrowed $2400 at an annual simple interest rate of 5.75%, how much would you owe altogether…

A: Interest on loan=Amount Borrowed×Rate×Years=$2,400×5.75%×3.5=$483

Q: Suppose you borrow 11,000 for 5 years at 6% towards the purchase of a car. What would be the monthly…

A: The computation of monthly payments:Hence, the monthly payment is 212.66.

Q: at period of time could you pay back a loan of $3000 by making monthly payments of $110 if interest…

A: Loans are paid by the equal amount of monthly payments these payments carry the payment of principal…

Q: What amortization payment (in $) would you need to make each month at 24% interest compounded…

A: Amortization means the process of paying the debt. In this method, the amount of principal is the…

Q: How much interest is payable each year on a loan of P2,000 if the interest rate is 10% simple…

A: Interest means the extra amount which we received because of investment made and will be paid in…

Q: how much would you have to deposite if you wanted to have $49000 in five years?annual interest rate…

A: The formula to calculate present value is as below:

Q: You borrow $5,000 and have to pay $5,300 six months later. Calculate the effective annual rate of…

A: Interest Paid = $5300 -$5000 Interest Paid =$300 Interest Rate =$300/$5000 Interest Rate = 6%…

Q: How much the monthly payment on a $114,000 home be if you get 4.1% interest over a 15 year loan with…

A: Here, Loan Amount is $114,000 Interest Rate is 4.1% Time Period of Loan is 15 years Compounding…

Q: You buy a house for $250,000 and pay $50,000 down.  The loan is for 25 years at 6% monthly. What is…

A: Interest: it is a finance cost that charged on borrowed value for specific period.

Q: What is the future value of $2,000 deposited for one year earning 6 percent interest rate annually?

A: Given details are : Present value of deposit = $2000 Time period = 1 year Interest rate = 6%  From…

Q: What are the weekly payments on a 6-year, $80,000 loan if the interest rate is 14%?

A: Using excel PMT function

Q: a. If you borrow $1,100 and agree to repay the loan in six equal annual payments at an interest rate…

A: Part (a)Let the annual payment be P. Interest rate, i = 11%; n = period = number of payment =…

Q: What would be the total interest paid

A: Interest is charged on the amount lent by the lender to the borrower. In short, any excess payment…

Q: For an interest rate of 12% compounded annu-ally, determine the following: (a) How much can be lent…

A: Given information: Interest rate of 12% compounded annually, Future value of lump sum amount is…

Q: A person is repaying a loan of $50000 at $200 per month. The interest rate is 3% per month. Form a…

A: PMT is the periodic payment made.

Q: How much the monthly payment on a $135k home be if you get 3.6% interest over a 15 year loan with a…

A: Given information: Amount of loan : $135,000 Interest rate : 3.6% Time period : 15 years Balloon…

Q: When interest is charged on the unrecovered balance, if you borrow $10,000 at 10% per year interest…

A: Whenever loan is taken, interest is required to be paid on that loan. That interest calculation can…

Q: How many months will it take you to pay off a loan of $17,000 at 7% APR compounded monthly if you…

A: The loan is taken in order to finance the purchase of the asset or for the purpose of expansion. The…

Q: What is the internal rate of return on a $3,000 loan to be repaid as $3,500 twoyears from now?

A: An internal rate of return is the metric used in financial analysis for estimating potential…

Q: You buy items costing $800 and finance the cost with a fixed loan installment for 18 months at 5%…

A: As we are told that interest rate charged on the loan is simple and not compounding, moreover we are…

Q: ate of 12% per year.

A: Simple interest  (SI) is the cost of borrowing. It is the interest only on the principal amount as a…

Q: Suppose you take out a $37,000 4-year balloon loan from a bank at an interest rate of 9.8%. What…

A: Balloon payment is future value of payment considering the interest rate and period.

Q: What is the future equivalent of $1,000 invested at 6% simple interest per year for 3 years?

A: Simple interest is the type of interest that is calculated on the principal amount invested, it is…

Q: Someone is borrowing from a five-six ( Bumbay ) money lender. How much will   be charged if you want…

A: Interest is referred to as the monetary charge which is to be paid to the moneylender on the…

Q: If you borrow $5,400 at a simple interest of 5% per year, how much will be repayed after 6 years?

A: Simple Interest is a method of calculating interest on the loan. It is calculated on the amount…

Q: Consider a 30-year fixed-rate home loan of $565,500 with an interest rate of 4.25%. What is the…

A: Loan amount (P) = $565,500 Interest rate (r) = 4.25% Period (t) = 30  years

Q: Caculate the amount of interest paid on a loan of $25,000 with a rate of 4.5% compounded monthly for…

A: GIVEN, LOAN (P) = $25,000 R=4.5% N=10 YEARS M = 12( MONTHLY COMPOUNDING)

Q: How long will it take to pay off a loan of ​$47,000 at an annual rate of 8 percent compounded…

A: Solved using Financial Calculator  PV =  47,000 PMT = 650 I/Y = 8/12 = 0.6666666667 CPT N = 99.0104…

Q: How would be the principal amount of loan if you need to borrow $300,000 for one year with a…

A:

Q: Find the future value of a simple interest loan of $2,500 at 8.8% interest for 10 months Give your…

A: Loan amount = $2,500 Interest rate = 0.088 Loan period = 10 months Future value of simple interest…

Q: What is the yield to maturity on a simple loan for$1,500 that requires a repayment of $15,000 in…

A: Individuals, corporates, and governments take loans to finance their needs. The interest rate on the…

Q: How much interest will be collected in advance from a loan of $ 25,000 for 2 ½ years if the discount…

A:

Q: How long will it take (in years and months), for $200 to quadruple in value, if it earns interest at…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: For an interest rate of 12% compounded annually, determine the following: (a) How much can be lent…

A: Present value is calculated by discounting the future cash flow at the given discount rate. While,…

Q: What would the required payment be on a K1,000 loan that is to be repaid in three equal installments…

A: Computation:

Q: How much money will be required four years from today to repay a ₱2,000 loan that  is made today at…

A: The money required to pay after four years can be calculated as the future value of loan

Q: If it takes $50 per month for 18months to repay a loan of $800. What rate compounded monthly is…

A: As per the question, Monthly Payment (P) = $50 Months(n) =18 Loan Amount =$800 Interest Rate for 1…

Q: Suppose you take out a loan for 180 days in the amount of $12,500 at 15% ordinary interest. After 40…

A: For calculating the interest:

Q: What amortization payment would you need to make every month, at 12% interest compounded monthly, to…

A: Monthly Payment is the payment that is to be paid monthly for a specific period of time to repay the…

Q: Using 12 percent simple interest per year, how much interest will be owed on a loan of $500 at the…

A: The interest on a loan can be calculated with different techniques such as compound interest and…

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.