You borrow a $ 332,969 add-on interest loan from the credit union and will repay in...
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![Quarterly payment = pmt = Loan = [(1-(1/(1+ran)}}/r] 332,969 = [((1-1/1.0114-56)/0.0114) $8,077.09](http://img.homeworklib.com/questions/b19689a0-789f-11ea-ad9d-d53958a3b2d1.png?x-oss-process=image/resize,w_560)
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You borrow a $ 332,969 add-on interest loan from the credit
union and will repay in...
You borrow a $ 345,000 add-on interest loan from the credit union and will repay in equal install...
You borrow a $ 345,000 add-on interest loan from the credit union and will repay in equal installments over 12 years. The nominal rate of interest is 4.75 %. Assuming quarterly repayment and simple rate of interest, obtain the equal quarterly payments.
You borrow a $324355 add-on interest loan from the credit union and will repay in equal...
You borrow a $324355 add-on interest loan from the credit union and will repay in equal installments over 10 years. The nominal rate of interest is 4.19 %. Assuming quarterly repayment and simple rate of interest, obtain the equal quarterly payments Round your final answer to two decimal places. D Question 2 1.5 pts Mr. Anthony Banderus obtained a bullet loan of $170373 at a nominal rate of interest of 5.78 percent for 4 years. If repayment is scheduled at...
You borrow $1,000 from the bank and agree to repay the loan over the next year...
You borrow $1,000 from the bank and agree to repay the loan over
the next year in 12 equal monthly payments of $90. However, the
bank also charges you a loan initiation fee of $29, which is taken
out of the initial proceeds of the loan. What is the effective
annual interest rate on the loan, taking account of the impact of
the initiation fee?
You borrow $1,000 from the bank and agree to repay the loan over the next...
4-103. You repay a student loan of $20,000 in equal monthly installments over 5 years at a nominal interest rate...
4-103. You repay a student loan of $20,000 in equal monthly installments over 5 years at a nominal interest rate of 24%, compounded on a monthly basis. The interest rate remains constant over this entire period of time. What is the monthly repayment amount? (4.15)
To borrow $1,450, you are offered an add on interest loan at 8.5 percent with 12...
To borrow $1,450, you are offered an add on interest loan at 8.5 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.) Equal payments Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round intermediate calculations and round your answer to 2 decimal places,) % EAR To borrow $1,450, you...
To borrow $3,700, you are offered an add-on interest loan at 9.3 percent with 12 monthly...
To borrow $3,700, you are offered an add-on interest loan at 9.3 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.) Equal payment Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round intermediate calculations and round your final answer to 2 decimal places.) EAR %
To borrow $2,300. you are offered an add-on interest loan at 10.3 percent with 12 monthly...
To borrow $2,300. you are offered an add-on interest loan at 10.3 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.) Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
You borrow $1,000 from the bank and agree to repay the loan over the next year...
You borrow $1,000 from the bank and agree to repay the loan over the next year in 12 equal monthly payments of $90. However, the bank also charges you a loan initiation fee of $28, which is taken out of the initial proceeds of the loan. What is the effective annual interest rate on the loan, taking account of the impact of the initiation fee? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal...
Suppose you borrow $10,000. You are going to repay the loan by making equal annual payments...
Suppose you borrow $10,000. You are going to repay the loan by making equal annual payments for five years. The interest rate on the loan is 14% per year. Prepare an amortization schedule for the loan.
To borrow $950, you are offered an add on interest loan at 9.5 percent with 12...
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You borrow a $324355 add-on interest loan from the credit union and will repay in equal installments over 10 years. The nominal rate of interest is 4.19 %. Assuming quarterly repayment and simple rate of interest, obtain the equal quarterly payments Round your final answer to two decimal places. D Question 2 1.5 pts Mr. Anthony Banderus obtained a bullet loan of $170373 at a nominal rate of interest of 5.78 percent for 4 years. If repayment is scheduled at...
You borrow $1,000 from the bank and agree to repay the loan over
the next year in 12 equal monthly payments of $90. However, the
bank also charges you a loan initiation fee of $29, which is taken
out of the initial proceeds of the loan. What is the effective
annual interest rate on the loan, taking account of the impact of
the initiation fee?
You borrow $1,000 from the bank and agree to repay the loan over the next...
4-103. You repay a student loan of $20,000 in equal monthly installments over 5 years at a nominal interest rate of 24%, compounded on a monthly basis. The interest rate remains constant over this entire period of time. What is the monthly repayment amount? (4.15)
To borrow $1,450, you are offered an add on interest loan at 8.5 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.) Equal payments Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round intermediate calculations and round your answer to 2 decimal places,) % EAR To borrow $1,450, you...
To borrow $3,700, you are offered an add-on interest loan at 9.3 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.) Equal payment Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round intermediate calculations and round your final answer to 2 decimal places.) EAR %
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