Krisi took out a $500 discounted loan calculated using a simple interest rate of 5% for a period of 2 years. What is the effective interest rate? Give your answer as a percentage to the nearest tenth of a percent.

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

A: Using excel PMT function

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: An individual wishes to borrow $10,000 for a year and is offered the following alternatives: a. A 10…

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Q: Suppose that you have borowed 5,000,000 from a bank with 5% interest rate for 4 years. Show the…

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Q: Henry takes out a $650 discounted loan with a simple interest rate of 12% for a period of 7 months.…

A: The effective return is the real rate of return on any loan, savings. It can be found out by using…

Q: Your bank offers the Bradys a 30 year mortgage with a rate of 5%. At that rate, the monthly payments…

A: Loan amount = $ 1000 Monthly payment = $ 5.37 Period = 30 Years Number of payments = 30*12 = 360

Q: Marcela took out a $600 discounted loan with a 4% annual interest rate over a period of 8 months.…

A: Effective annual interest rate is referred as the interest rate which is adjusted for compounding…

Q: Asher plans to take out a loan of $7 Hamster wheel bank charges a com interest. After two years how…

A: Ashar Plans to take out a loan of $750 to buy a life-sized hamster wheel. Hamster wheel bank charges…

Q: The following loan is a simple interest amortized loan with monthly payments. (Round your answers to…

A: Using excel PMT function

Q: Investigate the effect of the interest rate on home loans by finding the monthly payment and the…

A: Data Given, Loan Amount (Principle) = $150000 Time period of loan (n)= 20 years Payment Interval =…

Q: You are given a loan on which interest is charged over a 4-year period, as follows: i. an effective…

A: Let the annual effective interest rate = r 1st year discount rate = 6% 2nd year discount rate = 4%…

Q: You are offered an add-on loan for $4,500 at 18% for 5 years. What is the monthly payment? What is…

A: Hello, I am only answering first question as per the policy and if you want others to be answered…

Q: You are given a loan on which interest is charged over a four-year period, as follows: i) An…

A: The interest rate which is applied on the financial products of the company and would be considered…

Q: Barbie is going to borrow $5,000 to help write a book.  The loan is for one year and the money can…

A: Option 1: 1 year loan borrowed at prime rate = 11%Effective interest cost = 11%Option 2: 1 year loan…

Q: Calculate the finance charge and the monthly payment on a $20,000 add-on installment loan with an…

A: The equivalent cost is the periodic payment made towards the acquisition of an asset or security for…

Q: Laurier Inc. has borrowed $ 65000 from its bank. The annual interest rate on the loan is 4%…

A: Solution Given Amount borrowed $65000 Interest rate 4% Compounding Annually…

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: The amortization schedule shows the periodic loan payment owed for each period, the amount of…

Q: Cheong Ngo borrows $4000 from a bank that advertises a 7% simple interest rate and repays the loan…

A: Annual percentage rate (APR) define as annual interest paid on the borrowed amount. The approximate…

Q: A student has a total of $3,000.00 in student loans that will be paid with a 48-month installment…

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

Q: Your uncle lends you $2,000 less $100 (interest at 5 percent), and you receive $1,900. Use the APR…

A: Here  Future value = 2000 present value is 1900 Time is 1 year  we need to find Rate

Q: The following loan is a simple interest amortized loan with monthly payments. (Round your answers to…

A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…

Q: Tyler is borrowing $6000 on an 8.8% 30 month single payment loan if the discount method is used…

A: APR also known as annual percentage rate is the rate which is paid by borrowers to investors. It…

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

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

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: Suppose you take out an auto loan for $25,500 over a period of six years at an APR of 7.5%.…

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

Q: If you lend $3200 to a friend for 15 months at 10% annual simple interest, find the future value of…

A: Calculate the future value as follows: Future value = Amount + Interest Future value = Amount +…

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

A: The loan amount is $26,100 The monthly payment is $989 The total finance charge is $9,504 The loan…

Q: PLEASE DO THE FOLLOWING ON AN EXCEL SPREADSHEET: Consider a loan of $1,000,000 with the nominal…

A: Given information : Loan amount $1,000,000 Annual interest rate 10% Time period (years) 15…

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: You receive a 10-year subsidized student loan of $18,000 at an annual interest rate of 5%. What are…

A: Given: Loan = $18,000 Interest rate = 5% Years = 10

Q: Prescott Bank offers you a five-year loan for $54,000 at an annual interest rate of 7.5 percent.…

A: The annual loan payment is the regular installment of the total loan, which repays at a regular…

Q: Ross Land has a loan of $8,500 compounded quarterly for four years at 4%. What is the effective…

A: Effective rate of Interest-The effective rate means the actual rate of interest which is accrued on…

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

A:

Q: Angus can obtain a residential mortgage loan from a bank at 7.00% compounded monthly. What is the…

A: given information interest rate = 7% = 0.07 compounded monthly  time period = 1 year

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

A: 1.Amount of Loan pay off is $7975 2.Amount of Finance Charges rebate is $2882   Calculations :-…

Q: annual loan payment

A: Annual Loan Payment: Annual loan payment is the amount to be paid in a year on the loan taken.…

Q: ou are offered an add-on loan for $4,500 at 18% for 5 years. What is the monthly payment? What is…

A: Since we answer up-to three sub-parts, we shall answer first three. Please resubmit a new question…

Q: A student takes out a short-term loan to pay for tuition, books, and supplies. If the simple…

A: Total repayment = Principa amount + Interest on loan

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

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

Q: A lender has offered to finance the purchase at the following terms:   60% Loan-to-Value 5%…

A: As the name suggests, cash on cash return is the ratio that shows how much cash return an  investor…

Q: If you borrow $9,983 and are required to pay back the loan in five equal annual installments of…

A: Loan is an agreement between lender and borrower where lender provide funds to borrower for definite…

Q: Investigate the effect of the interest rate on home loans by finding the monthly payment and the…

A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…

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%

Calculating the Return On A Loan