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PROBLEM 10
A developer deposits $84,720 for 7 months and earns $4055.46 in simple interest.Find the interest rate.
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- Question 4: Jerry's Concrete allows his customers to create six-month promissory notes on any stamped concrete driveway project with interest at 8.9%. Three months after completing a $17,300 job on February 2, 2022, Jerry had some liquidity problems and sold the promissory note to a financial institution at a simple interest rate of 10.35%. Calculate Jerry's proceeds on the saleQUESTION 14 You purchase a home priced at 1,750,000 Php. You paid 10% as the down payment and the remaining balance under a bank amortization plan to be paid in 8 years. At an effective quarterly interest rate of 1.5%, How much interest will you pay in the 2nd year Solve on white paper or typed. Not in excelQUESTION 14 You purchase a home priced at 1,750,000 Php. You paid 10% as the down payment and the remaining balance under a bank amortization plan to be paid in 8 years. At an effective quarterly interest rate of 1.5%, How much interest will you pay in the 2nd year Solve on the white paper or typed. Not explain in the excel.
- Problem 10-5A (Part Level Submission) Talkington Electronics issues a $400,000, 8%, 10-year mortgage note on December 31, 2016. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $59,612. Payments are due on December 31. (a) Prepare an installment payments schedule for the first 4 years.QUESTION 5 Please use excel Robert has borrowed $339,000 to purchase a house in the current year at 5.5% interest rate, with a commitment to repay the loan (principal and interest) in equal annual instalments over the following 15 years. Calculate the: a) the yearly annuity payment is = $ b) the amount of the principal repayment in year 2 is = $ c) total amount of interest paid = $ d) if the interest rate decreases to 3% the total amount paid over the life of the loan would be = $ Provide your answers to 2 decimal places. Show all your working in your spreadsheet.#3 Simple Interest 3. If you borrow money from your friend with simple interest of 12%, find the present worth of P44,000 which is due at the end of nine months.
- Question 6 Joey invests $7,560 at 4 percent simple interest in a bank. Find the amount in the account after 9 months.Calculator sequence (1+(i÷365))y× n x P=A A. On April 13th Thomas Ash deposited $2600 in a passbook savings account at 3.5% interest compounded daily what is the compound amount in $ of his account on August 5th? $ B. Using daily compounding calculate the compound amount in $ of a $6000 investment for each of the 3 Cd's. the 1st national bank is offering a 5 year CD 4% interest.....$ the 2nd national bank is offering a 5 year CD at 3% interest....$ the 3rd national bank has a 5 year CD at 5.5% interest .....$Problem 7-23 You win a judgment in an auto accident case for $142,500. You immediately receive $20,000 but must pay your lawyer's fee of $5,000. In addition, you will receive $3,500 a year for 25 years for a total of $87,500, after which the balance owed ($35,000) will be paid. If the interest rate is 6 percent, what is the current value of your settlement? Use Appendix B and Appendix D to answer the question. Round your answer to the nearest dollar.$
- Week # 5 Homework Assignment (Chapter 7 - 8) Q1. You plan to purchase a $100,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 8.25%. You will make a down payment of 20 percent of the purchase price. Calculate your monthly payments on this mortgage. Calculate the amount of interest and, separately, principal paid in the 25thpayment. Calculate the amount of interest paid over the life of this mortgage.QUESTION 10 You deposat $1,200 into an accourt earning an APR of 5.25% compounded annually for 8 years. What's the earned interest? Round to neA 4. A borrower purchases a property for $200,000 and pays 20% of tye sale price as a down payment. The owner provides a purchase money mortgage at 6% per annum, interest-only monthly payments with a ballon payment in 60 months. In the 40th month, the borrower is approached to sell the property for $240,000. How much equity does the borrower have and what will his sale proceeds be (without any other closing costs?