Reena took a loan of 1200 with simple interest for as many years as the rate of interest. If she paid 432 as interest at the end of the loan period, what was the rate of interest?
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- Juan took out a $20,000 loan for 146 days and was charged simple interest.The total interest he paid on the loan was $488.As a percentage, what was the annual interest rate of Juan's loan?Assume that there are 365 days in a year, and do not round any intermediate computations.Shanice paid $69,950 as a down payment towards an apartment purchase and received a mortgage from a bank for the remaining amount; she is to pay $3,460 at the end of every three months for 27 years at an interest rate of 4.93% compounded quarterly to repay the mortgage. a) What was the purchase price of the apartment? $ b) What was the total amount Shanice paid over the 27-year period to repay the mortgage? $ c) How much interest was charged on the mortgage? $katy took out a loan for $12000 over 3 years, if her total loan repayments amounted to $18750, calculate the interest charged.
- Maya borrowed $700 from a lender that charged simple interest at an annual rate of 6%. When Maya paid off the loan, she paid $126 in interest. How long was the loan for, in years? If necessary, refer to the list of financial formulas.Salma borrowed $600from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $84. As a percentage, what was the annual interest rate of her loan?If instead of paying ₱34,500 after 3 years, Joseph was required by the lender to pay ₱34,850 what is the rate of interest applied on the loan
- Ahmad took out a loan for $7500 and was charged simple interest at an annual rate of 4.7%. The total interest he paid on the loan was $141.How long was the loan for, in days? Assume that there are 365 days in a year, and do not round any intermediate computations.Natalia will owe $6,050 to repay a personal loan she took out to go on vacation. The loan was for a term of 10 months at 5.2% ordinary interest. What was the original amount of her loan?Cathy borrowed a student loan for $700 and agreed to pay off the loan $740 one month later. what is the annual interest rate? assume it's computed using simple intrest
- YVette purchased a car and she obtained a seven year term loan with an annual interest rate of 3.84% the balance after the 36 payment was $6566.01 and the balance after the 37th payment was $6194.50 what was YVette's monthly payment?David held a loan of $2,400 for 6 months and was charged interest of $132.00. What was the annual simple interest rate on this loan?Abigail received a 15 year loan of $280,000 to purchase a house. The interest rate on the loan was 5.80% compounded semi-annually. a. What is the size of the monthly loan payment? b. What is the balance of the loan at the end of year 2? c. By how much will the amortization period shorten if Abigail makes an extra payment of $30,000 at the end of year 2?
