Ivan took out a loan for $2500 and was charged simple interest at an annual rate of 9.3% The total interest he paid on the loan was
$186. How long was the loan for, in days?
Assume that there are 365 days in a year, and do not
round any intermediate computations.
Ivan took out a loan for $2500 and was charged simple interest at an annual rate of 9.3%...
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...
Interest of $383 was charged on a loan of $8,599 for 5 months. What simple annual rate of interest, expressed as a percentage, was charged on the loan? Round your answer to 2 decimal places and do not enter any symbols such as $, % or commas.
Interest of $383 was charged on a loan of $8,599 for 5 months. What simple annual rate of interest, expressed as a percentage, was charged on the loan? Round your answer to 2 decimal places and do not enter any symbols such as $, % or commas.
You took out a loan with an effective annual interest rate of 13 percent. What is the equivalent 18-month interest rate on this loan? Note: I don't want the APR, I want the EPR (the actual interest rate charged over 18 months).
A 3-month $25,000 treasury bill with a simple annual discount rate of 0.25% was sold in 2016. Assume 365 days in a year. (a) Find the price of the treasury bill (T-bill). (b) Find the actual interest rate paid by the Treasury. (a) The price of the T-bill was $] (Round to the nearest cent as needed.) A 6-month $20,500 treasury bill with a simple annual discount rate of 0.44% was sold in 2016. Assume 365 days in a year....
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...
Lucky Champ owes $22780 interest on a 8% loan he took out on his March 17 birthday to upgrade an oven in his Irish restaurant Lucky's Pub and Grub. The loan is due on August 17 What is the principal? (Use Days in a year table.) (Use 360 days a year. Do not round intermediate calculations.) Principal
On April 5, 2017, Janeen Camoct took out an 11.25% loan for $35,000. The loan is due March 9, 2018. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2018? (Use Days in a year table.) (Do not round Intermediate calculations. Round your answer to the nearest cent.) Maturity value
You took out a loan with an effective annual interest rate of 15 percent. What is the equivalent semi-annual (6 month) interest rate on this loan? Note: I don't want the APR, I want the EPR (the actual 6 month interest rate). (Click to select) < Prey 29 of 36 $ext > MacBook Air
a. You took out a loan for $68,800, at 4.5% ordinary interest. The total amount of interest was $4,644? What is the time period (in days) of the loan? b.You repaid a $2,500 installment loan with 24 monthly payments of $123.00 each. What was the annual percentage rate of the loan? answer b: 16.496% ???