1. How much interest will be charged on 7,300 borrowed for three (3) years at a simple interest rate of 12% per annum?

Q: What lump sum of money must be deposited into a bank account at present time so that $1,50 can be…

A: In this we have to calculate present value of cash flow withdrawal.

Q: What is the APR on this loan?

A: Interest is the cost of borrowing a loan. It is the excess amount over the principal borrowing.…

Q: How long would you have to wait for a deposit of $1,625 to earn $34 in interest? Assume that the…

A: Interest = Principal * Rate * Time

Q: The bank states they will charge you annual interest of 20% APR and interest is calculated…

A: The real interest that an investor earns on the investment and a borrower pays on loan after…

Q: What lump sum of money must be deposited in a bank account at present time so that P 500 monthly can…

A: An annuity is a sequence of payments or deposits occurring at equal intervals of time for a given…

Q: A debt of $5600 is repaid in equal monthly instalments over three years. Interest is 7.3% compounded…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: 1. A bank is offering to sell certificates of deposit valued at $ 5,000.00. At the end of 3 years,…

A: Solution:- Given, A Bank Deposited Value = $5,000 At the end of 3 years = $5,310 Interest for 3…

Q: A bank that provides overdraft protection charges 12 percent for each $100 (or portion of $100)…

A: Part (a)The overdraft protection charge = 12% for each $100 (or portion of $100) borrowedThus 12% is…

Q: 1. Mary Rose borrowed money from a bank amounted 12,000 with an interest rate of 11.5%, the monthly…

A:

Q: To establish a "rainy day" cash reserve account, a certain company deposits $12,000 of its profit at…

A: The question is based on the concept of Annuity.

Q: financial institution is offering a six-year term deposit that will pay 7% per annum compounded…

A: 1) Value at end of 5 years  Solved using Financial Calculator  PV = -125,000 I/Y = 7/4 = 1.75 N = 5…

Q: You want to lend $12,000 as a bank deposit in a private bank with an interest rate 3 % per month.…

A: The worth of money changes with time. Therefore, the time value of money explains the worth of money…

Q: You borrowed $25,000 from a bank at an interest rate of 12%, compoundedmonthly. This loan will be…

A: Single payment of the loan amount after certain payments of installment is the present worth of the…

Q: What is the outstanding balance of the loan after the 2nd year

A: Compound interest is the amount of interest charged on interest. In this method the interest…

Q: How many months will it take to pay off a credit card debt of $4,000 by paying $250 per month at an…

A: Using NPER function in excel

Q: If the bank states an effective interest rate of 13.5% per year, and there are 52.15 weeks, how much…

A: Formula for calculating weekly interest rate is:

Q: 3. A financial institution offers a nominal interest rate of 12% while compounding its accounts…

A: Effective Interest Rate: It refers to the annual rate of interest provided the effects of…

Q: 1. A man deposit 50, 000 in a bank account at 6% compounded monthly for 5 years. If the inflation…

A:

Q: Mountain Grains Cooperative wants to invest $42,000 in a​ short-term deposit. The bank offers 1.4​%…

A: Future value can be calculated by using present value multiplied by 1 plus interest rate.

Q: 1. How much interest will be charged on ₱7,300 borrowed for three (3) years at a simple interest…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Billy Thornton borrowed $155,000 at a rate of 7.25%, simple interest , with interest paid at the end…

A: The interest that Billy would have to pay in a 30-day month is computed as shown below:   Interest…

Q: Suppose a company borrowed $1 million at a rate of 9% simple interest, with interestpaid at the end…

A: The question is based on the concept of calculation interest on the principle. Formula as,

Q: If a nine-month term deposit at a bank a simple interest rate of 9% per annum, how much will have to…

A: Simple interest: As the name indicates it is a simple interest computed on the amount of principal.…

Q: John Johnson borrowed $15,550 from a bank for three years. If the quoted rate (APR) is 5.20 percent,…

A: In the given question we need to compute the effective annual interest rate (EAR) if the nominal…

Q: An amount of P14,000 is borrowed at a discount rate of 10%, find the proceeds if the length of the…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: Construct an amortization schedule for a $1,000, 12% annual rate loan with 4 equal installments.…

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: A bank charges an interest rate of interest is 6% compounded annually. A customer takes a loan of…

A: In order to find the outstanding balance one has to deduct the payment from the loan amount.

Q: 1. The Lexington Property Development Company has a RM10,000 note receivable from a customer due in…

A: Present value is the value of an investment in today’s time. It helps to make decisions better.

Q: What lump sum of money must be deposited into a bank account at the present time so that $500 per…

A: The regular or lump-sum amount that is received or paid after a specific time period rather than…

Q: Assume  you have secured a loan of $10,000 from a bank  which will be paid in one year. The bank has…

A: Month Instalment Interest Paid = Opening Balance  x 0.31% Principal Opening Balance Closing Balance…

Q: 1. A bank loan of Php1,900 is discounted at 11 % . If the loan is due in 120 days, how much is the…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: What rate of interest, compounded quarterly, should be provided by the bank if you want to raise Php…

A: Future value (FV) = Php 4,325 Present value (PV) = Php 2,000 Period = 5 Years Number of quarters (n)…

Q: A person borrows $15,000 at an interest rate of 6%, compounded monthly, to be paid with payments of…

A: A concept through which it is studied that the current worth of money is higher than its future…

Q: What lump sum of money must be deposited in a bank account at present time so that Php 500 per…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: 2. If a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much…

A: Given rate of interest = 9% Required interest = 225 Period = 9 months Interest under simple interest…

Q: A bank makes a loan with the following characteristics: monthly payments for 10 years, with an APR…

A: PV: It is the current worth of cash flows that are expected to happen in the future.

Q: A banks lends a customer OMR 6,000. At the end of 9 years he repays this amount plus interest. The…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: You want to lend $10,000 as a bank deposit in a private bank with an interest rate 3% per month. You…

A: Amount lend as deposit - $10,000 Interest rate - 3% per month Period - 6 months

Q: If a nine month term deposit at a bank earn a simple interest rate of 9% per annum, how much should…

A: Term deposit is a way in which the person locks his amount or we can say sum of money for a specific…

Q: To establish a "rainy day" cash reserve account, a certain company deposits $12,000 of its profit at…

A: Amount of deposits =12000 interest rate =1.95 compounding quarterly  After 4years  After 5.5 years

Q: 3 The bank statement opposite shows transactions over a one-month period for a savings account that…

A: Interest income: It implies to the revenue that is earned by the lender from lending funds to the…

Q: A tresury bill with a face value of 100,000 dollars and 120 days until maturity is selling for…

A: Discount yield of T-bill for a year is Discount yield =[(Face value-selling price)]*360/120