What is the APR on this loan

Q: Calculate the APR of a loan for $10,025, including loan fees of $310, at 11% for 6 years. (Do not…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What annual payment is required to pay off a four-year, $29,000 loan if the interest rate being…

A: Loan amount (L) = $29000 Let the annual payment = A Monthly payment = M EAR = r = 7% Let monthly…

Q: Prepare an amortization schedule for a three-year loan of $93,000. The interest rate is 8 percent…

A: Loan amount (PV) = $93000 Interest rate (r) = 8% Number of annual payments (n) = 3

Q: Find the mortgage payment for a 15-year loan of $221,300 at an annual interest rate of 8.15%. (Round…

A: using excel PMT function =PMT(rate,nper,pv,fv) rate = 8.15% nper =15 pv= -221300 fv = 0

Q: Calculate the monthly payment by using the loan amortization table: (Round your answer to the…

A: loan amount= $26000 time= 36 months or 3 years Rate=11%   If you borrow $26000 at 11% for 3 years,…

Q: A $23,300 loan is to be settled by making payments of $7,460 at the end of every six months. The…

A: Present Value of annuity is used to calculate the loan periodic payments. To calculate number of…

Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…

A: Using excel RATE function

Q: Straight bank loan. Right Bank offers EAR loans of 9.44% and requires a monthly payment on all…

A: The amount of loan repayment which is required to be paid on a monthly basis is known as monthly…

Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

A: Ordinary interest for a loan is a type of simple interest that uses 360 days instead of 365 days as…

Q: Loan Details Payment (PMT) Monthly (End-of-month) Monthly interest rate (RATE) Months to Pay Off…

A: If the borrower wants to pay a 48 month loan in 20 months then the installments for 20 months will…

Q: Find the amount (in dollars) indicated. (Round your answer to the nearest cent.) the monthly…

A: The month payment is the equal amount that is paid at every month until the maturity of the loan…

Q: Computing Compound InterestA credit union pays interest of 2% per annum compounded quarterly on…

A: In this question future value is to be find out. Future value is the value of an asset which grows…

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: Straight bank loan. Right Bank offers EAR loans of 8.74% and requires a monthly payment on all…

A: APR is termed as the Annual Percentage Rate which is charged by any of the authorizing institutions…

Q: Prepare an amortization schedule for a three-year loan of $102,000. The interest rate is 11 percent…

A: Interest payment is the price paid on the amount of loan.  Principal payment is the amount of loan…

Q: A demand loan for $7745.46 with interest at 7.4% compounded quarterly is repaid after 6 years, 2…

A: Loan amount (P) = $ 7745.46 Interest rate = 7.4% Quarterly interest rate (r) = 7.4%/4 = 1.85% Period…

Q: Erik borrowed $21,090 for 6.5 years. For the first two and a half years, the interest rate on the…

A: Loan is the value borrowed by one person from another for the purpose of fulfilling the requirements…

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: Find the annual simple interest rate of a loan, where $900 is borrowed and where $1008 is repaid at…

A: Simple interest is the type of interest that is calculated on the original amount of the loan and…

Q: Chris Taylor is settling a $20,280 loan due today by making 6 equal annual payments of $4,656.44.…

A: Given; Loan = $20,280 Years = 6 Payment = $4,656.44

Q: Use an amortization table to solve the problem. Round to the nearest cent. A 7000 debt is to be…

A: Installment amount paid each month is the sum of principal amount and interest. Closing balance is…

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 monthly payment on the loan. Assume that the term of the loan is 10 years. $7,500 at 7.9%…

A: The monthly payment on loan depends on various factors like rate of interest, the tenure of…

Q: The simple interest charged on an 8-month loan of $95,000 is $974. Find the simple interest rate.…

A: Simple interest = Amount*Rate*time in years

Q: The Interest rate on a $56,000 loan is 8.4% compounded semiannually. Quarterly payments will pay off…

A: An interest rate method in which current interest is computed by multiplying the interest rate by…

Q: Loan $ 26,000     Down Payment $ 5,000     Time   36   months Rate   11   % Monthly Payments?

A: Solution: Loan amount = $26,000 Time = 36 months Annual rate of interest = 11%

Q: The interest rate on a $65,000 loan is 9.8% compounded semiannually. Quarterly payments will pay off…

A: Hey, since there are multiple sub-part questions posted, we will answer the first three questions.…

Q: The interest rate on a $63,000 loan is 9.5% compounded semiannually. Quarterly payments will pay off…

A: As per our guidelines, we are supposed to answer only 3 sub-parts (if there are multiple sub-parts…

Q: Taking out a 21 year loan at $59,000 with 6% APR compounded monthly, and with monthly payments,…

A: Therefore, second principal payment is $117.9.

Q: What is the balance of the loan at the end of year 3? $0.00 Round to the nearest cent c. By how much…

A: Loans are paid by the monthly equated payments that carry the payment for loan principal amount and…

Q: For an auto loan of $25,600 @ 3.5 APR due in five (5) years, a) what is the total interest paid, and…

A: Loan = 25,600 APR = 3.5% N = 60 months (5 years) Interest Rate = APR/12 = 3.5%/12 per month

Q: SOLVE FOR THE FOLLOWING: Finance Charge = $ Finance Charge per $100 = APR =________________ %

A: in this we have to calculate financial charges after deductions of principal amount payment.

Q: Current Attempt in Progress Carla Vista Cosmetics management is setting up a line of credit at the…

A: Given: Line of credit limit =$5000000Loan borrowed =2800000Unused loan amount…

Q: Problem:  Please answer the following questions regarding a $300,000 Mortgage Loan with monthly…

A: Amortized loan: It is the type of loan where the borrower would pay the periodic equal payment…

Q: Finance charges on a payday loan may not exceed 16.7% of the amount advanced. Find the annual…

A: Here, Finance Charges is 16.7% of the amount advanced Borrowed Amount is $300 Duration of Payday…

Q: Find the monthly payment on the loan. Assume that the term of the loan is 10 years. 57,500 at 7.9%…

A: Loan Amount = 7500 Deferred Payment Period = 38 months (2 years 8 months + 6 months) Time Period =…

Q: Find the finance charges on an 8.4 percent, 18-month, $1,000, single-payment loan when interest is…

A: The charge paid to an investor or a fund provider for borrowing money is known as a finance charge…

Q: Straight bank loan. Right Bank offers EAR loans of 8.65% and requires a monthly payment on all…

A: APR is an abbreviation for Annual Percentage rate which refers to the interest rate or finance rate…

Q: Mr. Bean wants to borrow $9,100 for three years. The interest rate is 7.1% compounded monthly. a.…

A: Installment loan is the debt which is discharged by making annuity payments consisting of two…

Q: Kingsley Toyota borrowed $125,000 from a local bank. The loan requires Kingsley to pay 8 equal…

A: Data given: Loan amount = $ 125,000 n=8 i=8%   Required : Annual installment payment

Q: Calculating monthly installment loan payments Using the simple interest method, find the monthly…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…