Find the principal of a loan in which the interest rate is 13% per month, payable monthly, and in which the borrower has just made the first monthly interest payment of $50. Ans. $3333.33
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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?Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $70,000 8 3 4 9 months $
- 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)Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment Paid Principal Balance 11.6% $425.57 $64.23 $361.34 $6,280.78 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 11.6% $425.57 $64.23 $361.34 $6,280.78 (Round to the nearest cent as needed.)Find the amount of interest and the maturity value of the following loan. Principal Rate (%) Time 1 8 4 $45,125 15 months -
- Compute the size of the final payment for the following loan. Principal $ Periodic Payment $ Payment Period Payment Made at: Interest Rate % Compounding Period 8100 520 3 months beginning 8 quarterly The size of the final payment is $_ .?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.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 $7,400 10.4 days $222
- Find the APR of the loan given the amount of the loan the number and type of payments, and the add on interest rate. Loan amount, $12,000; three yearly payments; rate = 8%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 (%) $7,700 10.4 Time days Interest $226Find the annual simple interest rate of a loan, where $800 is borrowed and where $888 is repaid at the end of 4 months. Annual simple interest rate = %.
