Math Concepts 6. Exam 3 Name: Assume that the following loan was paid in full before its due date. Regular Monthly Payments $785 APR 6.5% Remaining Number of Scheduled Payments after Payoff 36 (i) Obtain the value of h. (ii) Find the amount of unearned interest by the actuarial method.

2. An interest computed on the maturity value of the loan and is deducted from that amount at loan date to determine the net amount to be received by the borrower. a. Proceeds b. Bank discount c. Principal d. Interest rate 3. Used to find the number of days as numerator to determine the time by assuming that each months has 30 days. Actual time a. b. Approximate time C. Time concept d. Loan time Troy borrowed Php271,050 at simple interest of 12.21% for 2 years. Compute for the interest and maturity value of the loan. 4. Interest a. 33,590.50 b. 66,160.14 c. 33,095.05 d. 66,190.41 5. Maturity value a. 337,240.41 b. 304,640.50 C. 337,210.14 d. 304,145.05

A design studio received a loan of $9,400 at 5.90% compounded monthly to purchase a camera. If they settled the loan in 2 years by making monthly payments, construct the amortization schedule for the loan and answer the following questions. a. What was the payment size? Round to the nearest cent K SUBMIT QUESTION SAVE PROGRESS SUBMIT ASSIGNMENT 12°C Partly sunny ENG 10:03 8/5/2

Answer the following questions correctly and show your Complete Solution. a. 3 1/5% is equivalent to b. Find the actual time and approximate time from October 5, 2020 to June 30, 2021 c. Which of the following are NOT true?I. Principal is the money given or paid invested in the origin dateII. Origin date is a date on which money is paid by the borrower.III. Interest is an amount or earned for the use of the moneyIV. Simple Interest is an interest that is computed on the principal and then added to it.

The following loan was paid in full before its due date. a) Find the value of h using an appropriate formula. b) Use the actuarial method to find the amount of unearned interest. c) Find the payoff amount. Regular Monthly Payment APR # of Payments Remaining after Payoff 8.7% 4 $214 What is the finance charge per $100 financed? h = $ (Round to the nearest cent.) The unearned interest is about $ (Round to the nearest cent.) The payoff amount is $ Enter your answer in each of the answer boxes. f12 inser f9 f1o f7 fg f6 f4 f5 esc 5 7 8. %24 3 %23

Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days. Principal Rate (%) Time Interest 12 1- years $1,080 Need Help? Read It

Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,300 10.4 107 X days $227 Need Help? Read It

The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $414.84 APR 4.0% Remaining Number of Scheduled Payments after Payoff 18 Click the icon to view the annual percentage rate table. ... (a) h= $3.20 (b) The unearned interest is $ (Round to the nearest cent as needed.)

A design studio received a loan of $6,850 at 6.20% compounded semi-annually to purchase a camera. If they settled the loan in 2 years by making quarterly payments, construct the amortization schedule for the loan and answer the following questions: a. What was the payment size? $0.00 Round to the nearest cent b. What was the size of the interest portion on the first payment? a $0.00 0 SUBMIT QUESTION SAVE PROGRESS SUBMIT AS

The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $445.22 Remaining Number of Scheduled Payments after Payoff 6 APR 11.0% Click the icon to view the annual percentage rate table. (a) h=$ (b) The unearned interest is $ (c) The payoff amount is $ (Round to the nearest cent as needed.) (Round to the nearest cent as needed.)