Q: 4. Compute the life earnings of an engineer with a Bachelor degree that starts working with a salary…
A: Here we calculate the value at the time of retirement by using the given information so the…
Q: 3. Lesly Pacas borrows 300,000 pesos for 90 days at 12% per year to remodel her hair salon. She…
A: Given: Amount: 300000 pesos Period=90 days Interest rate at present=12% Interest rate a decade ago…
Q: College Financial Sources, which makes small loans to college students, offers to lend $500. The…
A: Given: P=500 A=40 n=16 i=?
Q: You can afford a $800 per month mortgage payment. You've found a 30 year loan at 7% interest. a) How…
A: Monthly Mortage payments is M = $800The annual Interest Rate is 7% The monthly interest rate…
Q: If you paid $56 to a loan company for the use of $1,478 for 96 days, what annual rate of interest…
A:
Q: Q4. A man borrowed $85000 at 7% to purchase a flat. The loan is to be repaid in equal monthly…
A: here we calculate the amount paid on first and second payment so here by using the given information…
Q: Define the term Annual Percentage Rate?
A: A rate at which a borrower is ready to pay and depositor is ready to receive the money is known as…
Q: John Doe received the following information in a mailed advertisement: "You could borrow $4,400 for…
A: here by calculating the effective interest we conclude the better opportunity which are as follow-
Q: 74. Peggy Sue was left $50,000 by She has decided to put it into a savings ac count for the next…
A:
Q: Required information The Premier Car Title Loan Company makes emergency loans of up to $500 for one…
A: Nominal interest rate is the interest rate which is calculated without taking into account the…
Q: irew borrowed om Social Security System, in the form of calamity loan, with interest at 8% quarterly…
A: We have 10 years and make quarterly payments. n= 10*4= 40 Interest rate per quarter = 8/4= 2%
Q: Alice has been in a defined-contribution pension scheme since she was 35 and will retire in one…
A: Pension plans are programmes in which the employer or person sponsoring the plan commits to make a…
Q: What is the compound amount factor (CAF) if I is the interest rate per year, m is a number of…
A: The compound amount factor is being used to calculate a future single sum being F which is…
Q: Cole’s Home Solutions policy is to charge 2¼% interest each month on unpaid credit balances. What…
A: Monthly interest rate is 2.5% per month. Then the interest rate can be calculated as follows.…
Q: You need to borrow $250,000 right now and can repay the loan in 9 months. Since you want to pay as…
A: Given; Amount needed to be borrowed= ₱250000 Time= 9 months Formula to calculate future value:-…
Q: At the time of retirement, a couple has $200,000.00 in an account that pays 8.4%compounded monthly.…
A: The formula for payout annuity is given below: P0=d[1-(1+rk)-nk](rk) where, P0 = the account…
Q: When investing or saving money for retirement, which type of interest would benefit the most from?…
A: When investing or saving money for retirement which type of interest would benefit the most from?…
Q: 7. Represents share in the ownership of the capital corporation. a. Bond b. Mutual fund c. Stock d.…
A: “Stock” represents share in the ownership of the capital corporation Bond is a type of debt…
Q: hazel borrowed 100,000 and must repay a total of 130,000 exactly two years later. How much is the…
A: Using the formula to solve.
Q: EN INTEREST RATE DESIRED INTEREST RATE 6% per week % per quarter % Per month Nominal rate per 6…
A: *Answer: *a year = 52 weeks , hence nominal rate per 6 months = ( 0.186 * 52 ) / 2= 3.64 %…
Q: What is the definition of Annual Percentage Rate (‘APR’) for a loan? Why is it typicallydifferent…
A: There are various methods to calculate interest rates and the amount of interest varies according to…
Q: Calculate the accrued interest (in $) and the total purchase price (in $) of the bond purchase.…
A: Given : Coupon rate=9.7% market price=79.75 Time period=23 days Commission per bond=$9.55 Bonds…
Q: A bank loaned out $25,500, part of it at the rate of 12% annual interest, and the rest at 5% annual…
A: Given: Total amount of loan is = $25,500 The annual rate of interest is = 12% Rest is at = 5% Total…
Q: How can we calculate the effective interest rate, altering the period value?altering the period…
A: The effective interest rate refers to the rate of interest that is paid on an investment or loan or…
Q: 1. A bank is offering to sell four-month certificates of deposit for $ 4,926. At the end of four…
A: A bank is offering to sell four-month certificates of deposit for $ 4,926. At the end of four…
Q: Please show work
A: The Future value of lottery amount is $500,000 in 35 years.Interest rate is 5%.
Q: A local lending institution advertises the "51-50 Club". A person may borrow $2000 and repay $51 for…
A: Given, Monthly payment, A=$51Present value, P=$2000Compounding periods, n=50 A = P(A/P, i, n) $51 =…
Q: Hadeel borrows money in the senior year to buy a new car. The car dealership allows to defer…
A: As the monthly payments are deferred for the period of one year, therefore, we will calculate the…
Q: What would be the selling price of a 10-year bond with a face value of 100000, interest at 20% which…
A:
Q: You borrow $10,000 agreeing to pay the balance in 10 equal annual installments at an interest rate…
A: here we calculate what should be the payments for the given by following method as
Q: a man loaned P20,000 from a bank which gives a discount rate of 5%. He promised to pay it in a year,…
A: Given loan value = 20,000 Discount rate = 5 % time = 1 year therefore the amount he expect to…
Q: Student Emergency Financial Services, Inc.,which makes small loans to college students, offersto…
A: The effective rate of return is returned annually when compounded more than once(i.e annually) in a…
Q: g will it take a sum of money to double at 11% annual percentage rate?
A: Given interest rate = 11 % Rule of 72 Rule of 72 - It is the method which is used to estimate the…
Q: 1. A businessman deposited P 15, 000 in the bank for 5 years. How much can be withdrawn if the…
A: Amount- 15000 Time- 5 Years Rate of Interest- 12%
Q: Consider a 25-year loan with an annual interest rate of 7 percent and monthly payments of $1,201.53.…
A: In the mentioned question we have to calculate the values of loan amount, Lender's IRR and also we…
Q: Define Add-on interest loans
A: The phenomenon of add-on interest combines the total principal amount that has been borrowed with…
Q: 22. A businessman borrowed P 10,000 with interest rate of 5% payable annually. The debt will be…
A: Annual instalments: An amount due yearly on a Distribution Date or Initial Distribution Date based…
Q: (1) Would you be willing to take on credit card debt inorder to start a company? Why or why not? (2)…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Discuss and illustrate the different types of annuity.
A: Annuity refers to the contract between an individual and the insurance company where the individual…
Q: what is the terminology for this definition below: Year serving as point of comparison for other…
A: The year serving as a point of comparison for other years is called base year. The base year is…
Q: What refers to the ratio of the interest payment to the principal for a given unit of time and…
A: For the production and consumption of goods, economic agents have derived a barter system. In the…
Q: American Eagle Financial Sources, which makes small loans to college students, offers to lend a…
A: Given: American Eagle Financial Sources, offers to lend a student = $600 The borrower is required…
Q: a
A: An income annuity allows for conversion of part of retirement funds into a stream of guaranteed…
Q: A man borrowed P100k payable at the end of 1 year. He only received the amount of P94k after the…
A: A man applied for a loan of 100,000 He received 94,000 after the bank collected the advance interest…
Q: per month payable in 24 equal end-of-the month payments. How much money of the loan remains unpaid…
A: *Answer:
Q: Define what is meant by (pure) credit rationing. Save Answer
A: Rationing is a source of artificial control on the demand and supply of the goods and services.
Q: What is Annual Effective Yield?
A: Yield refers to the earnings that are generated and then realized on a particular investment over a…
Can you explain the meaning of a 20% annual percentage rate (APR) quoted
by the credit card company?
Step by step
Solved in 2 steps with 1 images
- It refers to the actual or exact rate of interest earned on the principal during a one year period. A Nominal Rate of interest B) Compound Interest D Simple Interest Effective Rate of InterestCalculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $700 18 16% $ $ $Whenever the interest charge for any interest period (a year, for example) is based on the remaining principal amount plus any accumulated interest charges up to the beginning of that period, the interest is said to be: a. effective interest b. compound interest c. simple interest d. nominal interest e. none of the choices
- Ella Stein paid $187.50 interest on a loan of $12,000 for 3 months. What was the rate of interest she paid?Define Add-on interest loansCole’s Home Solutions policy is to charge 2¼% interest each month on unpaid credit balances. What nominal interest is Cole’s charging? What is the effective interest?
- American Eagle Financial Sources, which makes small loans to college students, offers to lend a student $600. The borrower is required to pay $4 at the end of each week for 13 weeks. Find the interest rate per week. What is the nominal interest rate per year? What is the effective interest rate per year?If you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?7. Sharon borrowed P3400 from a bank which charged the rate of 8% from February 16, 2004 to April 18, 2005. Calculate the amount and interest she paid?
- Discuss and illustrate the different types of annuity.As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) Amount Interest Financed Rate $220,000 7.50% Term of Loan (years) 25 $ Monthly PI Annual Property Tax $6,543 Annual Insurance $2,126 $ Monthly PITIHow can we calculate the effective interest rate, altering the period value?altering the period value?