Question

You borrow $270,000; the annual loan payments are $41,121.05 for 30 years. What interest rate are you being charged? Round your answer to the nearest whole number.

%

Answer #1

You borrow $55,000; the annual loan payments are $5,834.36 for
30 years. What interest rate are you being charged? Round your
answer to two decimal places.

You borrow $75,000; the annual loan payments are $4,337.26 for
30 years. What interest rate are you being charged? Round your
answer to two decimal places.

If you borrow $9,983 and are required to pay back the loan in
five equal annual instalments of $2,500, what is the interest rate
associated with the loan? (Use a Financial
calculator to arrive at the answer. Round the final answer to the
nearest whole number.)
Interest rate
%

You receive a 10-year unsubsidized student loan of $18,000 at an
annual interest rate of 6.6%. What are your monthly loan payments
for this loan after you graduate in 4 years? (Round your answer to
the nearest cent.)

You receive a 10-year unsubsidized student loan of $30,000 at an
annual interest rate of 5.4%. What are your monthly loan payments
for this loan after you graduate in 4 years? (Round your answer to
the nearest cent.)

You receive a 10-year unsubsidized student loan of $31,000 at an
annual interest rate of 5.6%. What are your monthly loan payments
for this loan after you graduate in 4 years? (Round your answer to
the nearest cent.)

What semiannually compounded rate and effective rate of interest
are being charged on a $12,000 loan if semiannual payments of
$1204.55 will repay the loan in seven years? (Do not round
intermediate calculations and round your final answer to 2 decimal
places.)
j = % compounded semiannually
f = % effective rate

You wish to borrow $3,000 for three years at 8% interest rate.
The loan agreement calls for the borrower to pay the interest on
the loan balance each year and to reduce the loan balance each year
by $1000. What is the total interest payment over the whole life of
the loan

You wish to borrow $3,000 for three years at 8% interest rate.
The loan agreement calls for the borrower to pay the interest on
the loan balance each year and to reduce the loan balance each year
by $1000. What is the total interest payment over the whole life of
the loan?

You decide to borrow $350,000 to build a new home. The bank
charges an interest rate of 2% to be compounded quarterly. If you
pay back the loan over 30 years, what will your quarterly payments
be? (rounded to the nearest dollar)

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