Q: Suppose you borrow $8500 for a term of five years at a simple interest and 8.25% APR. how much is…
A: Interest is the cost of borrowing the money.
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Q: loan
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A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
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A: Hi student ! Requirement is assumed.
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A:
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"If a loan of 1 million is made for 7 days at a rate of 5% per annum, how much interest would be received? (Assume 365/365 days in the year)
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- (6) Suppose you are paying GHS 51.88 per week for 14 years to repay a GH¢18,000 loan. What is the annual effective interest rate.What is the internal rate of return on a $3,000 loan to be repaid as $3,500 twoyears from now?Suppose that one has a bank loan for P15,584.48, which is to be repaid in equal end-of-month installments for 9 years with a nominal interest rate of 0.114 compounded monthly. What is the amount of each payment?
- 1. Let's assume that a loan of $100,000 with an annual interest rate of 6% over 30 years pays monthly payments of $500. a. Calculate the accumulation rate b. Calculate the payment rate . c. Answer : How will the balance of the principal be at the end of the loan in relation to the original amount of the loan? Less, equal or greater? Provide calculations.3a)A loan of £16,000 is repaid by annual payments of £1,500 each at the end of the year. How long does it take to repay the loan on the basis of an interest rate of 1% p.a.? b)Suppose the payment at t=11 is increased to repay the loan (a balloon payment).What is the value of the payment at t=11? c)Alternatively, the loan may be repaid via a payment at t=12 (a drop payment).What is the value of the payment at t=12? could you please help me with this question2. How many years are needed for the loan to mature from P100,000 to P250,000 at the quarterly interest rate of 7%?
- What is the effective interest rate charged to a loan of P5,000 paid after 5 years amounting to P7,250? What is the nominal rate if it is compounded semi-annually? upload your solution with signature sifan ?What is the size of eight equal annual payments to repay a loan of $1,000? The first payment is due one year after receiving the loan? The interest rate is 10% per year. Hint (at_Page 21) The constant amount or payment (PMT) per interest period is calculated using the formula: PV(RATE(1+ RATE)NPER (1+ RATE)NPER – 1 PMT = RATE = effective interest rate per interest period NPER = number of compounding (interest) periods %3D PV = present value or principle or initial amount at the startWhat is the simple interest due on a 5 year loan of 4,00,000 if the annual rate is 6%.
- Suppose you borrow $8500 for a term of five years at a simple interest and 8.25% APR. how much is the total (principal plus interest) you must pay back on the loan?How much interest is deducted in advance from a loan of P18,000.00 for one year and 6 months if the discount rate is 9%. How much is the proceeds after deducting the interest?Suppose a business takes out a GHC5000, 5-year loan at 9%. If the loan agreement calls for the borrower to pay the interest on the loan balance each year and to reduce the loan balance each year by GHC 1000, what would the loan repayment schedule look like?