Suppose you wish to borrow $300 for two weeks and the amount of interest you must...
Suppose you borrowed a certain amount of money 382 weeks ago at an annual interest rate of 3% with semiannual compounding (2 times per year). If you returned $10,456 today, how much did you borrow?
Suppose you borrowed a certain amount of money 512 weeks ago at an annual interest rate of 3% with semiannual compounding (2 times per year). If you returned $13812 today, how much did you borrow? Round your answer to the nearest dollar.
Suppose you borrow $710 for a term of four years at simple interest with an APR of 3.51%. Determine the total you must pay back on the loan. - A particular payday loan company offers quick, short-term loans using the borrower's future paychecks as collateral. The loan company charges $17 for each $120 loaned for a term of 16 days. Find the APR charged by the payday loan company. Suppose you borrow $710 for a term of four years at...
When you borrow money to buy a house or a car, you pay off the loan in monthly payments, but the interest is always accruing on the outstanding balance. This makes the determination of your monthly payme on a loan more complicated than you might expect. If you borrow P dollars at a monthly interest rate ofras decimal) and wish to pay off the note in months, then your monthly payment M = M(Prt) in dollars can be calculated using...
Suppose you borrow $950 for a term of three years at simple interest and 5.65% APR. Determine the total (principal plus interest) you must pay back on the loan. The total (principal plus interest) you must pay back on the loan is $_.
Suppose that you plan to borrow $20,000 student loans to attend UM-Dearborn. You are considering borrowing the loan from SallieMae. SallieMae offers two options for the repayment of your loan. One is the deferred repayment option and the other is interest repayment option. The APR for the deferred repayment option is 6.75% and the APR for the interest repayment option is 5.75%. You plan to finish your undergraduate study in UM-Dearborn within five years. The two repayment options are described...
Suppose you borrowed a certain amount of money 5 years ago at an annual interest rate of 2.3% with 152 compounding intervals per year. If you returned $10,973 today, how much interest did you pay?
6. -/6 points CraudColAlg6 1.1.EX.017. 0/100 Submissions Used My Notes + Ask Your Teacher When you borrow money to buy a house or a car, you pay off the loan in monthly payments, but the interest is always accruing on the outstanding balance. This makes the determination of your monthly payment on a loan more complicated than you might expect. If you borrow P dollars at a monthly interest rate of r(as a decimal) and wish to pay off the...
Suppose the future price is 1200 and you wish to acquire a $10 million position in the S&P 500 index. a) Find the notional value of one contract (amount you are agreeing to pay at expiration per futures contract) b) Suppose you go long $10 million of the index: How many futures contracts would you enter? c) Suppose there is 20% margin, If the S&P 500 future drops by 10, how much do you lose on your futures position? d)...
QUESTION 5 Suppose you want to buy a house that costs $750,000. You are required to put 10% down, which means the amount to be borrowed is 90% of the price of the house. If you want a 30 year mortgage, and the borrowing rate is 5.6% APR compounded monthly, what would be your monthly payment? (Answer to the nearest penny) 5 points QUESTION 6 Suppose you want to buy a car that costs $17,000. If the dealer is...