The maturity value for a loan is $58301. The loan earned interest at a rate of 6.2% compounded quarterly for 5 years. How many times was the loan compounded (what is the number of compounding periods)? Answer:
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?The interest amount on a $46,500 loan was $24,785.95. The interest rate charged on loan was 9.20% compounded semi-annually. a. What was the accumulated value of the loan? Round to the nearest cent b. What was the time period of the loan? years months
- The maturity value of a 4-month loan of $4,250 is $4,367.50. What is the annual simple interest rate (in percent) on this loan? (Round your answer to one decimal place.)Find the length of the loan in months, if $800 is borrowed with an annual simple interest rate of 17% and with $924.666666666667 repaid at the end of the loan. Length of the loan = months.What is the maturity value of a $7,500 loan for 16 months at 4.8% compounded monthly? Also. how much interested was charged? Future value: $10.479.74 Interest: $2,979.74 O Future value: $7.994.67 Interest: $494.67 O Future value: $7.979.99 Interest: $479 99 OFuture value: $9.456.88 Interest: $1.956.88 Future value: $11,790.01 Interest: $4.b01
- If $900 is borrowed and the interest after 6 months is $63, what is the annual interest rate for a simple interest loan? Rate= %Find the annual simple interest rate of a loan, where $900 is borrowed and where $1008 is repaid at the end of 18 months. Annual simple interest rate = %.Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 3% and with $517.5 repaid at the end of the loan.
- What is the simple interest rate on a loan of 2,000.00 that was paid 2,600.00 after 2 years and 6 months from the date of loan? (rate must be in %)Create a loan repayment schedule for a loan of $30295 and payments of $8482 made annually. Assume a rate of interest of 6.13% per year compounded annually. What is the balance remaining after the second payment?Calculate the interest due for the monthly installment payment on a loan given the remaining principal and interest rate.Remaining principal = $22,021.59, interest rate = 13.3% Interest due = $ (Give your answer rounded to the nearest hundredth)