33.
a.
If $7,000 is borrowed for period of 8 months at simple interest 7.5% . Compute the total amount owed at the end of 8 months.
a. |
$7500 |
|
b. |
$7450 |
|
c. |
$7350 |
|
d. |
$7625 |
b.
If $23,000 is borrowed at 8.25% for 45 months, what is the simple interest amount on this loan?
a. |
7100.565 |
|
b. |
6515.435 |
|
c. |
6500.525 |
|
d. |
7115.625 |
33. a. If $7,000 is borrowed for period of 8 months at simple interest 7.5% ....
Question 13 3.33 pts The principal Pis borrowed at simple interest rater for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year and round answer to the nearest cent. P - $7900 4.5% 14 months $414.75 $8314.75 $4977.00 $452.45
Simple Interest USE A 360 DAY YEAR Calculate the simple interest amount and the future value using the simple interest formula. 365 day year Principal Interest Rate Time Simple Interest Amount Future Value $ 18,000 4.5% 18 months $ 21,000 5% 1.75 Years $ 18,000 7.25% 9 months $ 1,000 8% 93 days $ 585 9% 193 days $ 1,200 12% 187 days 1) Leslie Hart borrowed $15,000 to pay for her child’s education. Leslie must repay the loan...
14. United Sales Association (USA) recently borrowed $25,000 from its bank at a simple interest rate of 11 percent. The loan is for one year, and the loan agreement calls for the interest to be added to the amount borrowed and the total amount to be repaid in monthly installments. (a) What are the loan’s monthly payments? (b) Compute the loan’s APR and, rEAR.
Question 8 A new car priced at $33 500 can be bought on hire purchase with a $3 500 deposit and monthly repayments over 6 years. a. If the balance owed after the deposit has been paid is to be financed using a simple interest loan at 7.5% per annum, find the total interest due on the loan. b. Find the monthly repayment on the loan correct to two decimal places. c. Find the annual effective rate of interest on...
The principal P is borrowed at simple interest rater for a period of time t. Find the loan's future value, A, or the total amount due at time t. Round answer to the nearest cent. 37) P = $11,000.00, r = 9%, t = 150 days A) $11,412.50 B) $11,425.50 $11,406.85 D) $159,505.00
If you borrowed P1000 from a bank with 18% simple interest per annum, what is the total amount to be repaid at the end of 5 years, 6 months and 84 days? with solution
Un July 1, a man borrowed $2000 at 6% simple interest. He paid $500 on August 30 and $600 on September 29. Find the balance on October 29 of the same year. A man owes $100, due in two months, and $400, due in eight months. His creditors have agreed to settle his debts by two equal payments in four months and ten months, respectively. Find the size of each payment if the rate of interest is 6% and the...
Question6 Rashed plans to take a loan of 100,000 AED to buy a car, the bank available loan options are: Option 1: Total amount owed is due with a single payment at the end of year 10 with 7.5 % simple interest per year. Option 2: Total amount owed is due with a single payment at end of year 8 with 6.5% annually compound interest. Which option should Rashed choose? Match the closest correct answers for the below questions The...
You have just obtained a personal loan under the simple interest method. You have borrowed $15,000 for 6 months at an annual rate of 8%. Your marginal tax rate is 28%. What are the total interest charges you would pay if the loan is paid off on time? Show work for credit.
Question 28 5 pts The principal P = $200 is borrowed at simple interest rater = 7% for a period of time 6 months. Find the loan's future value, A; i.e. find the total amount due after 6 months. $1007.00 $212.00 $284.00 $207.00