Homework Answers
Monthly interest rate is 0.8%, so the quarterly interest rate is 0.8%*3=2.4%.
The amount of loan given is $2000/(1+0.024)=$1,953.13.
Add Answer to:
On New Year's Day, you provided a 3-month loan to your friend at 0.8 percent monthly...
On New Year's Day, you provided a 3-month loan to your friend at 0.8 percent monthly...
On New Year's Day, you provided a 3-month loan to your friend at 0.8 percent monthly interest. Your friend paid back principle plus interest in lump sum of $2,000 at the end of 1st quarter. How much did you loan out in the first place?
Total 500.000 Can you show the solution on the excel? Semih also spoke with a friend...
Total 500.000 Can you show the
solution on the excel?
Semih also spoke with a friend of his who works at Güneş Bank and he received the following offer monthly payments of 10,000 TL at a 1.05% monthly interest rate, followed by a lump sum payment of 60,000 TL at the end of the term. Payments are made at the end of the period. What is the total term of the loan? Give your answer in terms of months a)...
You buy a new home for $500,000 on the first day of the month. You put down $50,000 and finance the rest with a mortgage at 6% annual interest compounded monthly on the last day of the month. Your mon...
You buy a new home for $500,000 on the first day of the month. You put down $50,000 and finance the rest with a mortgage at 6% annual interest compounded monthly on the last day of the month. Your monthly payments including principal and interest are 2500. Your payments are due on the first day of the month, starting next month. What is your loan balance after your third monthly payment ? explain how you got the answer !
Your monthly mortgage payment (principal plus interest) is $1,750 . If you have a 30-year loan...
Your monthly mortgage payment (principal plus interest) is $1,750 . If you have a 30-year loan with a fixed interest rate of 0.3% per month, how much did you borrow from the bank to purchase your house (rounded to the nearest whole dollar)? (Do not enter a dollar sign $ with your answer.)
Your monthly mortgage payment (principal plus interest) is $1,750 . If you have a 30-year loan...
Your monthly mortgage payment (principal plus interest) is $1,750 . If you have a 30-year loan with a fixed interest rate of 0.3% per month, how much did you borrow from the bank to purchase your house (rounded to the nearest whole dollar)? (Do not enter a dollar sign $ with your answer.)
you have just taken out a $15,000 car loan with a 7% APR, compounded monthly. The...
you have just taken out a $15,000 car loan with a 7% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principle of the loan and how much will go toward interest?
OOO You need some money today and one of your friend agrees to loan you the...
OOO You need some money today and one of your friend agrees to loan you the money you need only if you make payments of $100 a month for the next eight months. In addition, he requires that the first payment be paid today. He will charge you 1.5 percent interest per month. How much money are you borrowing? APPROX. $770 APPROX $740 APPROX $750 APPROX. $760
25. You have an outstanding loan with an EAR of 10.5 percent. What is the APR...
25. You have an outstanding loan with an EAR of 10.5 percent. What is the APR if interest is compounded monthly? 26. Curtis Builders is borrowing $150,000 today for 5 years. The loan is an interest-only loan with an APR of 9.5 percent. Payments are to be made annually. What is the amount of the first annual payment? 27. What is the future value of a lump sum of $100,000 invested for 6 years at an annual return of 4.0%...
show work please Borrowing $10 Per Month We continue with the same example: you borrow $10 per month from your friend. On each of these loans, your friend charges 30% Amount loan atthe year S10 Numbe...
show work please
Borrowing $10 Per Month We continue with the same example: you borrow $10 per month from your friend. On each of these loans, your friend charges 30% Amount loan atthe year S10 Number ofowed on Loan amount Month months of interest end of thein interest per year, compounded monthly Determining the total amount that you owe at the end of one year will require a few steps $10 $10 $10 $10 $10 $10 $10 $10 $10 $10...
Your father invested a lump sum 24 years ago at 5.75 percent interest compounded monthly. Today,...
Your father invested a lump sum 24 years ago at 5.75 percent interest compounded monthly. Today, he gave you the proceeds of that investment which totaled $105,099.24. How much did your father originally invest? $15,929.47 $16,500.00 $17,444.86 $26,528.00 $27,470.75
On New Year's Day, you provided a 3-month loan to your friend at 0.8 percent monthly interest. Your friend paid back principle plus interest in lump sum of $2,000 at the end of 1st quarter. How much did you loan out in the first place?
Total 500.000 Can you show the
solution on the excel?
Semih also spoke with a friend of his who works at Güneş Bank and he received the following offer monthly payments of 10,000 TL at a 1.05% monthly interest rate, followed by a lump sum payment of 60,000 TL at the end of the term. Payments are made at the end of the period. What is the total term of the loan? Give your answer in terms of months a)...
OOO You need some money today and one of your friend agrees to loan you the money you need only if you make payments of $100 a month for the next eight months. In addition, he requires that the first payment be paid today. He will charge you 1.5 percent interest per month. How much money are you borrowing? APPROX. $770 APPROX $740 APPROX $750 APPROX. $760
show work please
Borrowing $10 Per Month We continue with the same example: you borrow $10 per month from your friend. On each of these loans, your friend charges 30% Amount loan atthe year S10 Number ofowed on Loan amount Month months of interest end of thein interest per year, compounded monthly Determining the total amount that you owe at the end of one year will require a few steps $10 $10 $10 $10 $10 $10 $10 $10 $10 $10...
Most questions answered within 3 hours.
-
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 3 hours ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 3 hours ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 3 hours ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 3 hours ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 3 hours ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 3 hours ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 3 hours ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 3 hours ago -
Create a button in Swift (Xcode) that will create a charge,
create a charge using Stripe's...
asked 3 hours ago -
The reaction rate of CO and NO2 in the reaction
CO(g) + NO2(g) → CO2(g) +...
asked 3 hours ago -
Imagine that a chemist puts 6.40 mol each of
C3H8 and O2 in a 1.00-L container...
asked 4 hours ago -
How much money should be invested today in order to have $8340
at the end of...
asked 4 hours ago