CrubiciProblem List Next ProblemHW 20 Simple and Compound Interest: Problem 2(4 points)Find the length of the loan in months, if $300 is borrowed with an annual simple interest rate of 5% and with $311.25 repaid at the end of the loan.The length of the loan will be months and there will be a monthly payment due of $(round to the nearest cent).Note: You can earn partial credit on this problem.Preview My AnswersSubmit AnswersYou have attempted this problem 0 times.You have unlimited attempts remaining.kPage generated at 05/04/2024 at 02:49pm EDTWeBWorK 1996-2022 | theme: math4-green | ww_version: 2.17 | pg_version 2.17 | The WeBWorK Project

To determine the length of the loan and the required monthly payments, follow these detailed…

Answered: Crubici Problem List Next Problem HW 20…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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You need to borrow $10,000 right now but can repay the loan in 6 months. Since you want to pay as little interest as possible, which type of loan should you take? (A or B) A. discounted loan at 9% per annum B. simple interest loan at 10% per annum
Can you I solve using excel formulas please. If you have 7% APR loan for 25,000, your monthly payments are 300. How many months will it take to pay off loan if the bank changes monthly payments to 250 (same interest rate)?
Part a. Loan payments you borrow $100,000 over a period of 30 years at a fixed APR of 5.5% calculate the monthly payment Part b. Determine the total amount paid, then figure out what percentage is paid towards the principal and what percentage is paid for interest. Please solve part A and B they go together. I included an example problem
Assume that you take out a $2000 loan for 30 months at 9.5% APR. what is the monthly payment round to the nearest cent - $75.16 Make payment for every months 30 months of interest payment- $2254.8 Make payment you calculate every month for 30 months what is the dollar amount interest - $225.8 I need help with this question If you make the payment you just calculate every month for 30 months, what is the percentage of interest paid altogether? Round the percentage to one decimal place?
Given a loan amount P, an annual interest rate r, and the length of the loan in years, find the monthly payment R necessary to pay off the loan by completing parts a through c. Represent the number of monthly payments by n. Amount Rate Time $50,000 5% 20 years Question content area bottom Part 1 a. Calculate P1+r12n and call this number A. A=enter your response here (Round to two decimal places as needed.) Part 2 b. Calculate 1+r12n−1r12 and call this number B. B=enter your response here (Round to two decimal places as needed.) Part 3 c. Let R = AB. The monthly payment necessary to pay off the loan is R=$enter your response here. (Round up to the nearest cent.)
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