Calculating Monthly Payment,
Using TVM Calculation,
PMT = [PV = 10,000, FV = 0, N = 60, I = 0.06/12]
PMT = $193.33
Interest Paid = 60(193.33) - 10,000
Interest Paid = $1,599.80
L. cofoTC 5. What is the total interest owed on a 5-year $10,000 loanat 6% APR?...
6 [12 pts.] 4.1#5: Working similar to the above, a fixed APR loan charges interest at the end of each cycle that is equal to the specified fixed percentage of what is currently owed. (a.) Use this idea to recursively define a sequence that models how much is owed upon a loan of $1000 that accrues 2% interest at the end of every month (24% APR-not too far different from that of many credit cards), and is paid off at...
21. A total of $10,000 is invested in two accounts, one If the interest earned for the first year was paying 5% annual interest and the other 6%. $540, how much did she invest in the account paying 5%? 21. A total of $10,000 is invested in two accounts, one If the interest earned for the first year was paying 5% annual interest and the other 6%. $540, how much did she invest in the account paying 5%?
6. Calculating simple interest and APR on a single-payment loan Aa Aa E You are taking out a single-payment loan that uses the simple interest method to compute the finance charge. You need to figure out what your payment will be when the loan comes due. The equation to calculate the finance charge is: In the equation, Fs is the finance charge for the loan. What are the other values? P is the r is the stated t is the...
6. Chester Corp issues $10,000 of 5 year bonds that pay interest semiannually. The bonds can be redeemed by Chester prior to maturity at Chester's discretion. Since Chester has questionable credit, Chester offers PP&E to collateralize the bonds. The bonds are not registered. What type of bonds has Chester issued? a. Secured, Serial, Callable, Revenue bonds b. Secured, Term, Deep Discount, Revenue bonds c. Secured, Serial, Callable, Bearer bonds d. Secured, Term, Commodity Backed, Bearer bonds e. Unsecured, Serial, Callable,...
if you were to receive $10,000 today to invest at 6% interest and for 5 years. but if you receive a $1000 extra at year 1, what would this total be equivalent be in 5 years? (fv) if interest rate is 6% compounded continuously what would this investment be equivalent in 5 years?
For an APR of 9% per year, if the interest is compounded daily, determine the nominal rate per (a) 6 months and (b) 2 years. The nominal interest rate per 6 months is 1%. The nominal interest rate per 2 years is L %.
Question 7 What is the total amount owed using simple interest? Where the loan amount is $120,000 at 0.12 interest rate for 5 years. Answer:
Find the interest paid on a 30-year mortgage of $350,000 at an APR of 6%
E. 9 years 7. If an APR is 21.6%, what is the monthly interest rate? A. 1.6% B. 1.8% c. 2.16% D. 2.5% E. 3.5% AS
On January 1, 2008, Edward invested $10,000 at 5% interest for one year. The CPI on January 1, 2008 stood at 1.60. On January 1, 2009, the CPI was 1.76. The real rate of interest earned by Edward was ______ percent. Select one: a. -5 b. 0 c. 5 d. 10 why.