Time to repay installment loan  Personal Finance Problem      Mia Salto wishes to determine how long it will take to repay a $17,000 loan given that the lender requires her to make annual end-of-year installment payments of $2,745.   a.  If the interest rate on the loan is 12%, how long will it take for her to repay the loan fully?   b.  How long will it take if the interest rate is 9%?   c.  How long will it take if she has to pay 15% annual interest?   d. Reviewing your answers in parts a, b, and c, describe the general relationship between the interest rate and the amount of time it will take Mia to repay the loan fully.

Joseph borrowed P5,000.00 on November 2,2015 from Arthemus, which is to be paid on May 21,2016 at 6.2% simple interest per year. Find the amount to be repaid. How much will the interest be at the repayment date if the following time factors are used? A. Bankers rule B. Exact simple interest C. Approximate/360 D. Approximate/ 365   Show solution.

Joyce took out a loan for $21,900 at 12% on March 18, 2017, which will be due on January 9, 2018. Using ordinary interest, how much will Joyce pay at maturity?   Multiple Choice   $2,168.10   $24,068.10   $24,038.40

Time to repay installment loan Personal Finance Problem Mia Salto wishes to determine how long it will take to repay a ​$18000 loan given that the lender requires her to make annual​ end-of-year installment payments of ​$3906. a. If the interest rate on the loan is ​11%, how long will it take for her to repay the loan​ fully? b. How long will it take if the interest rate is 8​%? c. How long will it take if she has to pay 14​% annual​ interest? d. Reviewing your answers in parts a​, b​, and c​, describe the general relationship between the interest rate and the amount of time it will take Mia to repay the loan fully.

Question 2: You borrow a five-year $13,000 loan with monthly payments of S250. What is the annual percentage rate (APR) on the loan?

Compute the amount of interest on $8350 at 6.5% p.a. from October 8, 2019, to August 4, 2020.   What rate of interest is paid if the interest on a loan of $12500 is $196.06 from November 14, 2019, to May 20, 2020?   Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.5% p.a. and the focal date is 115 days from now?   What principal will earn $355.99 interest at 9.75% p.a. from February 4, 2017, to July 6, 2017?   Determine the face value of a four-month promissory note dated May 20, 2018, with interest at 7.5% p.a. if the maturity value of the note is $1190.03.     A Company sells locks for $10 each. Manufacturing cost is $2.60 per lock; marketing costs are $2.40 per lock; and royalty payments are 20% of the selling price. The fixed cost of preparing the lock is $18 000. Capacity is 15,000 locks. Compute the contribution…

If you borrow $1000.00 on May 1, 2019, at 12% compounded semi-annually, and interest on the loan amounts to $103.76, on what date is the loan due? FIFA PAVE RR pana lae HISTORANTE Pervert ke manlikin PREMIER

Calculating interest and APR of installment loan Assume that interest is the only finance charge. How much interest would be paid on a $8,000 installment loan to be repaid in 60 monthly installments of $178.10? Round the answer to 4 decimal places. _________   % per monthWhat is the APR on this loan? Round the answer to 2 decimal places.    __________%

Q4: A dealer quotes a customer 7.35% to borrow for one year with interest paid monthly. The customer prefers to pay interest quarterly. What rate should the dealer quote instead?