for $21,900 at 12% on March 18, 2017, which will be due on January 9, 2018. Using ordinary interest, how much will Joyce pay at maturity?
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Joyce took out a loan for $21,900 at 12% on March 18, 2017, which will be due on January 9, 2018. Using ordinary interest, how much will Joyce pay at maturity?
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$2,168.10
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$24,068.10
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$24,038.40
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- www Will You borrow $1,000 from the bank and agree to repay the loan over the next year in 12 equal monthly payments of $90. However, th bank also charges you a loan initiation fee of $25, which is taken out of the initial proceeds of the loan. What is the effective annuall interest rate on the loan, taking account of the impact of the initiation fee? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Use a financial calculator or Excel.) Effective annual interest rate 19.98 % < Prevsimple interestSolve the following problems:1. Sassy borrowed P 10,500 on Nov. 6, 2020 to be repaid on April 11, 2021 at 15.3% interest in a year. How much will the interest be? Find the amount to be paid on the maturity date.2. Find the exact interest and the final amount due on P 12,350 at 11 % for 150 days, using ordinary interest.3. The interest on a loan of P 2,500 is P 165.00 . If the rate of interest is 6 %, when is the loan due?You plan to borrow $37,200 at a 7.2% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 2? O a. $2,678.40 O b. $2,370.79 O c. $2,404.40 O d. $6,950.78 Oe. $6,483.94
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