Simple interest
A $3,000 loan at 7.5% was repaid by two equal payments made 30 days and 60 days after the date of the loan. Determine the amount of each payment. Use the loan date as the focal date. Use 365 days a year.
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Loan payments of S700 due three months ago and of S1000 due today are to be...
Loan payments of S700 due three months ago and of S1000 due today are to be paid by a payment of $800 in two months and a final payment in five months. 19% interest is allowed, and the focal date is five months from now, what is the amount of the final payment? The amount of each payment is $ (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed)...
Suppose that a loan is being repaid with 60 equal monthly payments, the first coming a...
Suppose that a loan is being repaid with 60 equal monthly payments, the first coming a month after the loan is made. If the rate of interest is 7.5 percent convertible monthly, and the amount of principal in the 22nd payment is 210, how much interest is in the 44th payment?
can somebody help me with 37,38 and (most needed) 40 please??? 200 The theory of interest...
can somebody help me with 37,38 and (most needed) 40
please???
200 The theory of interest 36. A loan is being repaid with 10 payments. The first payment is 10, the second 9, d so forth with the tenth payment being 1. Show that the amount of interest in te sixth payment is 5- ag- 37. A loan is repaid with payments which start at $200 the first year and increase by $0 per year until a payment of $1000...
Un July 1, a man borrowed $2000 at 6% simple interest. He paid $500 on August...
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...
1.Shen took out a loan for 292 days and was charged simple interest at an annual...
1.Shen took out a loan for 292 days and was charged simple interest at an annual rate of 2.5%. The total interest he paid on the loan was $146. How much money did Shen borrow? Assume that there are 365 days in a year, and do not round any intermediate computations. 2. To purchase $12,600 worth of lab equipment for her business, Isabel made a down payment of $1900 and took out a business loan for the rest. After 2...
A company takes out a loan of 15,000,000 at an annual effective discount rate of 5.5%....
A company takes out a loan of 15,000,000 at an annual effective discount rate of 5.5%. You are given: (i) The loan is to be repaid with n annual payments of 1,200,000 plus a drop payment one year after the nth payment. (ii) The first payment is due three years after the loan is taken out. Calculate the amount of the drop payment. 5. On January 1, 2010 Susan took out a 30-year mortgage loan in the amount of 200,000...
This is an accounting project for my class. Can I please have the answers for each question and formulas? Not specific. Just the general formulas used for an annual payment, total interest payment, pe...
This is an accounting project for my class. Can I please have
the answers for each question and formulas? Not specific. Just the
general formulas used for an annual payment, total interest
payment, percentage of the total interest paid after 27 have been
made. Thank you.
Use the following check digits:
Sum Total Cash flow = Sum interest paid
Owe at end = $0
Sum Principal repaid = amount borrowed
Sum Total Payment = Sum Interest paid + Sum principal...
Krista borrowed $10,119. The loan is to be repaid by three equal payments due in 65,...
Krista borrowed $10,119. The loan is to be repaid by three equal payments due in 65, 122, and 250 days from now respectively. Determine the size of the equal payments at an interest rate of 10% with a focal date of today.
15. A loan payment of $4200 was due 80 days ago, and another payment of $1800...
15. A loan payment of $4200 was due 80 days ago, and another payment of $1800 is due in 40 days from now. What single payment 70 days from now will pay off the two obligations if interest is to be 8% and the agreed focal date is 70 days from now? 16. When Danny borrowed $2400, he agreed to repay the loan in two equal payments, to be made 90 days and 130 days from the day the money...
please provide formulas with answer The simple interest on a 45-day loan of $5,200 is...
please provide formulas with answer The simple interest on a 45-day loan of $5,200 is $55.25. What is the simple interest APR? You borrowed $10,000 from your bank at 5.6% simple interest APR. You took out the loan on March 1 and plan on repaying it on August 1. What is the interest and maturity value of the loan? Franz is planning to borrow $182,000 from Columbia River Bank to build a road into his property. The road building...
Loan payments of S700 due three months ago and of S1000 due today are to be paid by a payment of $800 in two months and a final payment in five months. 19% interest is allowed, and the focal date is five months from now, what is the amount of the final payment? The amount of each payment is $ (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed)...
can somebody help me with 37,38 and (most needed) 40
please???
200 The theory of interest 36. A loan is being repaid with 10 payments. The first payment is 10, the second 9, d so forth with the tenth payment being 1. Show that the amount of interest in te sixth payment is 5- ag- 37. A loan is repaid with payments which start at $200 the first year and increase by $0 per year until a payment of $1000...
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...
This is an accounting project for my class. Can I please have
the answers for each question and formulas? Not specific. Just the
general formulas used for an annual payment, total interest
payment, percentage of the total interest paid after 27 have been
made. Thank you.
Use the following check digits:
Sum Total Cash flow = Sum interest paid
Owe at end = $0
Sum Principal repaid = amount borrowed
Sum Total Payment = Sum Interest paid + Sum principal...
15. A loan payment of $4200 was due 80 days ago, and another payment of $1800 is due in 40 days from now. What single payment 70 days from now will pay off the two obligations if interest is to be 8% and the agreed focal date is 70 days from now? 16. When Danny borrowed $2400, he agreed to repay the loan in two equal payments, to be made 90 days and 130 days from the day the money...
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