You are finalizing a bank loan for $180,000 for your small business and the closing fees payable to the bank are 1.7% of the loan. After paying the fees, what will be the net amount of funds from the loan available to your business?
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You are finalizing a bank loan for
for your small business and the closing fees payable to the bank are
of the loan. After paying the fees, what will be the net amount of funds from the loan available to your business?
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- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.If an entrepreneur applies for a loan amounting to ₱ 500,000 in a bank, the simple interest of which is ₱ 157,500 for 3 years, what interest rate is being charged?
- Suppose you purchase a home and secure a loan for $165,000. If the bank charges a fee of 3 points, what is the charge for points?A bank is offering a loan of $20,000 with an interest rate of 9%, payable with monthly payments over a 4-year period. a. Calculate the monthly payment required to repay the loan. b. This bank also charges a loan fee of 4% of the amount of the loan, payable at the time of the closing of the loan (that is, at the time the borrower receives the money). What effective interest rate is the bank charging?Van Buren Resources Inc. is considering borrowing $100,000 for 182 days from its bank. Van Buren will pay $6,000 of interest at maturity, and it will repay the $100,000 of principal at maturity. a. Calculate the loan’s annual financing cost. b. Calculate the loan’s annual percentage rate. c. What is the reason for the difference in your answers to Parts a and b?
- There is an investor stating they will pay out $84,000 at the end of 4 years. In order to invest into the opportunity, you'll need to make a deposit of $10,000 to thier indicated bank account. What is the average annaul return rate. Use excel functions to indicate your steps.The company decided to borrow a one-time loan of $100,000 in Jan 2023 to launch a marketing campaign to expand the business. The $100,000 is taken from the bank and use in the marketing campaign directly and as such no additional $ is plough back into the cash flow. Given the bank charges 4% interest rate and the company wishes to borrow for 5-year term, add another row for Annual Payment to the bank (SAFELOCK LTD chooses to pay monthly payment, calculate the total 12 monthly payments using the appropriate built-in functions and formula.) Also calculate the Total Bank term payment for the loan assuming the monthly payment scheme, Total Interest for the loan taken.There is an investor stating they will pay out $84,000 at the end of 4 years. In order to invest into the opportunity, you'll need to make a deposit of $10,000 to thier indicated bank account. What is the average annaul return rate
- Your local bank pays 4% interest annually. You have $5,000 invested in the bank. How long will it take for your funds to double? Please show your work in excel.Your firm is considering a one-year loan for $522,000. The fees are 2% of the loan amount and the interest rate is 4.3%. First, compute the net amount of funds from the loan. Based on this net amount, what is the true interest rate of the loan?If PhP75,000 in a savings account earns PhP3,825interest, in a year and PhP75,000 worth of stock earns 6.75% a year, where will you put your money?
