Question 11. You lend a friend $10,000, for which your friend will repay you $27,027 at...
Related to Checkpoint 5.6) (Solving for charging your "friend"? You lend a friend $10,000, for which your friend will repay you $27,027 a theend of 5 years. What interest rate are you The interest rate you are charging your friend on the loan is %. (Round to the nearest whole percent.)
only questions 19 and 21. please show all steps 19. You lend a friend $10,000 for which your friend will repay you $27,027 at the end of 5 years. What interest rate are you charging your "friend"? 20. (Nonannual compounding using a calculator) Bowflex's television ads say you can get a fitness machine that sells for $999 for $33 a month for 36 months. What rate of interest are you paying on this Bowflex loan? i= 11,627 21. One bank...
Question 10. Sales of a new finance book were 15,000 copies this year and were expected to increase by 20 percent per year. What are expected sales during each of the next 3 years? Question 11. You lend a friend $10,000, for which your friend will repay you $27,027 at the end of 5 years. What interest rate are you charging your "friend"?
Problem 5-10 (similar to (Solving for in compound interest) You lend a friend $5,000, for which your friend will repay you $22,000 at the end of 14 years. What interest rate are you charging your friend? The interest rate you are charging your friend is % (Round to two decimal places.)
1. You need $50 immediately and your enterprising 'friend' offers to lend you the money for one week if you pay him an extra $5. $5 doesn't seem like much so you take the loan. a. A: What effective interest rate per week is your friend charging? b. B: What nominal interest rate per year is your friend charging? c. C: What effective interest rate per year is your friend charging? d. D:Do you keep your 'friend' as a friend?...
1. Heather lends a friend $18,000 for which her friend will repay him $36,000 at the end of 11 years. What interest rate is Heather charging her friend? (Round to 2 decimal places) 2. What is the present value of an annuity of $140 received at the end of each year for 12 years? Assume a discount rate of 8%. The first payment will be received one year from today (round to nearest dollar). 3. You decide you want your...
1. 2. 3. If you lend $1,000 to a friend for 5 years at an interest rate of 2%, how much will she owe you in 5 years? Round to the nearest cent. Numeric Answer: If you borrow $10,000 for 10 years at an interest rate of 5%, what are the annual payments you'd have to make to pay it off? Round to the nearest cent. Numeric Answer: You are about to buy a Tesla Model 3 for $38,990. If...
Can you help with the below Determining Interest Rates. The Benevolent Company has agreed to lend you funds to complete the last year of your degree. The Company will lend you $2,400 today, if you agree to repay a lump sum of $4,000 four years from now. What is the approximate annual rate of interest that Benevolent is charging you? A: A:
Your friend wants to buy a car, and you plan to lend him/her $15,000. S/He will payoff the loan fully in 5 years and the interest rate will be 8%, to be paid monthly. (i) What will be your friend’s monthly payment? (ii) What will be the EAR (calculation may have to be carried out to four decimal points)?
QUESTION 3 Suppose a friend lends you $400 for 30 days, which you agree to repay with 7% simple interest. How much will you have to repay?