Question 18 1 pts Your brother has offered to loan you $500 for two years. At...
A loan shark has offered to loan you $375,200.00 today so that you can afford the house of your dreams. The only catch is that he wants you to repay him $619,400.00 exactly 4.00 years from today. You are very tempted as you want the house really badly. What is the rate of interest on the Shark’s loan?
A loan shark has offered to loan you $311,600.00 today so that you can afford the house of your dreams. The only catch is that he wants you to repay him $574,800.00 exactly 5.00 years from today. You are very tempted as you want the house really badly. What is the rate of interest on the Shark’s loan?
Your brother has offered to give you either $5,000 today or $10,000 in 10 years. If the interest rate is 7% per year, which option is preferable?
Your brother has offered to give you either $5,000 today or $10,000 in ten years. If the interest rate is 7% per year, which option is preferable?
Your brother has offered to give you either $45,000 today or $90,000 in 12 years. If the interest rate is 7% per year, which option is preferable?
please show your calculations Question 2: What would be the effective rate on a personal loan in the amount of $20,000 with an annual rate of 6%? Assume it is a discounted loan and the borrower will repay the loan with one payment at the end of 12 months. Question 3: Calculate how much interest you would pay during the first 12 months if you were to borrow $10,000 at 6% to paid off in 5 years via monthly installments....
A loan shark has offered to loan you $384,900.00 today so that you can afford the house of your dreams. The only catch is that he wants you to repay him $568,700.00 exactly 4.00 years from today. You are very tempted as you want the house really badly. What is the rate of interest on the Shark’s loan? Answer Format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places...
Question 13 1 pts Tom plans to save $107 a month, starting today, for 16 years. Dick plans to save $107 a month for 16 years, starting one month from today. Both Tom and Dick expect to earn an average return of 5.7 percent APR on their savings and both will make the same number of deposits. At the end of the 16 years, how much more (in $) will Tom have than Dick? Answer to two decimals. Question 12...
A loan shark has offered to loan you $348,100.00 today so that you can afford the house of your dreams. The only catch is that he wants you to repay him $518,300.00 exactly 4.00 years from today. You are very tempted as you want the house really badly. What is the rate of interest on the Shark’s loan? A couple with a new baby girl want to set aside money today that will cover her four years of college. This...
How much would you loan your brother-in-law if he said he could repay you $200 in six months, $400 in a year, and $700 in two years if you can get 3 percent interest from the bank on a six month CD? Show you are indifferent between the loan and putting your money in the bank for the next two years