A loan calls for 5 equal annual payments of $2,800. If the loan amount is $9,386, the interest rate is: (Round your answer to the nearest whole percent.) Interest rate %
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- Determine the monthly payment for the installment loan. Use the installment payment formula m = 1- Amount Financed (P) $1,440 O A. $179.15 B. $35.15 O C. $125.26 O D. $366.02 P n 1+) - not Annual Percentage Rate (r) 8% Number of Payments per Year (n) 12 Time in Years (t) 4Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Rate (%) Principal $54,000 Enter a number. X % Time 60 days Interest $87317. Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Principal Rate (%) Time Interest $54,000 % 60 days $864
- 4. Consider the following financing information for a loan of $103,000: Item Value Loan amount $103,000 2 years Loan length Contractual interest rate 8% Origination fee Payment type 4.3% Quarterly payments, equally amortized Find the actuarial interest te, the annual percentage interest rate, and the effective interest rate.K Find the APR (true annual interest rate), to the nearest 0.01%, for the loan given below. Purchase Price Add-On Interest Rate $4350 3.7% Down Payment $380 Number of Payments 12 *** The APR for the loan amount is%. (Type an integer or decimal rounded to the nearest hundredth as needed.)Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Principal: 24,000 Rate (%): Time:60 days Interest: $384
- How much is your loan payment based on the following: Time - 5 years Interest Rate - 5.8% Principle Balance - $28,000 Assume the interest rate is an APR. If needed, the discount rate is 4.2%.You plan to borrow $33,100 at a 7.0% annual interest rate. The terms require you to amortize the loan with 7 equal end-of- year payments. How much interest would you be paying in Year 2? O a. $2,077.39 b. $2,049.26 c. $6,141.81 d. $2,317.00 e. $5,740.01Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Principal Rate (%) Time Interest $4,000 ?? % 4 years $1,440
- You have taken a loan of $150,000 at an interest rate of 6% (annual). If the number of monthly equal instalment is 60, then find the principal paid in 36th instalment. a. $ 339.95 b. $ 2,899.92 c. $ 2,559.97 d. $ 2,839.95 с.You plan to borrow $46,400 at a 7.6% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2? a. $3,526.40 b. $8,790.61 c. $8,169.71 d. $3,126.32 e. $3,173.51a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments If you borrow $9,500 at $760 interest for one year, what is your annual interest cost for the following payment plan? (Round the final answers to 2 decimal places.) Effective rate elp Save & Exit % 4 Submi