# find the total amount due on a loan of N80,000.00 at 18percent simple interest at the end of 4months. (2)question is find the total amount due on a loan of N600,000.00 at 12percent simple interest at the end of 3years.

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### business mathematics

find the total amount due on a loan of N80,000.00 at 18percent simple interest at the end of 4months. (2)question is find the total amount due on a loan of N600,000.00 at 12percent simple interest at the end of 3years. Pls i need answer

### math

joe borrows $4,000, the loan is for 18 months at 5% interest, whats the total amount due on the loan?

### Math

Suppose you borrowed $25,000 for a car at an APR of 8%, which you are paying off with monthly payments of $510 for 5 years. a) What’s the loan principal? b) What’s the annual interest rate? c) How many payments do you make in a year? d) What’s the loan term? e) What’s ...

### Maths

Calculate the total amount (loan and interest)to be paid on a loan of N1 000.00, borrowed for 2 years at a simple interest rate of 10% p.a.

### math

. Cimarron Homes Inc. purchased a snow plow for $57,000 and financed the full amount for 5 years at an annual simple interest rate of 9%. a. Find the interest due on the loan. b. Find the monthly payment

### math

Catherine borrowed $19,000 on June 20, at 10% interest. If the loan was due on September 17, what was the amount of interest on the loan using the exact interest method?

### business math

. Ludwig borrowed $8,000 on July 20, at 11% interest. If the loan was due on October 17, what was the amount of interest on the loan using the exact interest method?

### Math

1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR? MY ANSWER=0.33% 2. Tim Newman took out a simple interest loan of $1500 at a 10 percent interest for 12 months. After 4 ...

### math

Jill Ley took out a loan to pay for her child's education for $60,000 the loan wouls be repaid at the end of 8 years in one payment with an interest of 6 percent the total amount Jill has to pay back at the end of the loan is.

### business math

Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is:

### math

Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is: (Points : 1)

### Math

1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR? MY ANSWER=0.33% 2. Tim Newman took out a simple interest loan of $1500 at a 10 percent interest for 12 months. After 4 ...

### math

Loan #1 Year Amount owed 1 $3796 2 $3942 3 $4088 Loan # 2 Year Amount owed 1 $977.53 2 $1036.18 3 1098.35 For loan #1 is simple interest. Loan #2 is compound interest How much was each loan originally Determine the future value of each loan after 10 years No one has answered ...

### VBA Programming

I'm trying to create a macro that asks for a loan between 1 dollar and 5 million, and returns different interest rates based on the amount of the loan. For some reason when I type in different loan amounts it automatically makes my rate ".1", when it should be say ".08", or "....

### math

Suppose you take out a loan for 180 days in the amount of $13,500 at 11% ordinary interest. After 50 days, you make a partial payment of $1,000. What is the final amount due on the loan?

### Algebra

I am trying to work through this problem and am having trouble. Can someone tell me what the "w" stands for in the equation and walk me through the steps? Below is what I have so far. Suppose A is the amount borrowed, r is the interest rate (in decimal form), and m is the ...

### Algebra

I am trying to work through this problem and am having trouble. Can someone tell me what the "w" stands for in the equation and walk me through the steps? Below is what I have so far. Suppose A is the amount borrowed, r is the interest rate (in decimal form), and m is the ...

### math

The total amount of interest on a loan of $6,000 for 150 days is $210.50. Using the ordinary interest method, what is the rate of interest on this loan? Round to the nearest hundredth.

### math

The total amount of interest on a loan of $6,000 for 150 days is $210.50. Using the ordinary interest method, what is the rate of interest on this loan? Round to the nearest hundredth

### Math

The monthly loan payment was calculated at 119 payments of $348.33 plus a final payment of $347.54. Loan Balance: $30,000.00 Loan Interest Rate: 7.00% Monthly Loan Payment: $348.33 Number of Payments: 120 Cumulative Payments: $41,798.81 Total Interest Paid: $11,798.81 On ...

### Exam060321RR Business and Fanance Basic 1

Jill ley took out a loan for$60,000 to pay for her childs education.The loan must be repaid at the end of the eight years in one payment with interest of 6%.The total amount jill has to pay back at the end of the loan is a$28,800 b.$80,800 c. $88,808 d.$88,008

### Business Math icom 1

Find the ordinary interest in a loan of Rs.2600 at 10 % simple interest from January 5 to February 10.? Find the present value of Rs.3600 due in 4 months at 6% interest p.a.? At what annual rate percent of interest would Rs.12500 amount Rs.14375 in 2 years & 6 months.? How ...

### Math

A man buys a house for $310,000. He makes a $150,000 down payment and amortizes the rest of the debt with semiannual payments over the next 8 years. The interest rate on the debt is 11%, compounded semiannually. (a) Find the size of each payment. (b) Find the total amount paid...

### Please Help me with a Finance - Loan problem

A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company sets up a sinking fund in order to repay...

### MAth

1. John’s loans for his business total $155,000. One of the loans is a SBA loan at 11% interest; the other loan is a Community Business Partner loan whose interest is 6.5% After one year the loans accumulated $12,325 in interest. What was the amount of each loan? I am not ...

### Math

1. Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vice-president for finance decided to invest $2,000,000 in a 2-month investment that pays 11.5% simple interest. How much interest will the college earn on ...

### math

Loan #1 Year Amount owed 1 $3796 2 $3942 3 $4088 Loan # 2 Year Amount owed 1 $977.53 2 $1036.18 3 1098.35 For loan #1 is simple interest. Loan #2 is compound interest How much was each loan originally Determine the future value of each loan after 10 years

### math

gail borrowed $3600 from a bank to buy a washing machine she pays back the loan in 24 monthly instalments at a simple interest rate of 2% a)calculate the simple interest on the loan b)the total amount to be repaid c)if gail repays the loan in 24 equal instalments ,find the sum...

### business

Catherine borrowed $19,000 on June 20, at 10% interest. If the loan was due on September 17, what was the amount of interest on the loan using the exact interest method? (Round to the nearest cent) (Points : 2) $500.01 $273.06 $463.00 $463.29

### Math

Jennifer has a 60-month fixed installment loan, with a monthly payment of $223.04. The amount she borrowed was $11,000. Instead of making her 36th payment, Jennifer is paying the remaining balance on the loan. What is the total amount due to to pay off the balance (use the ...

### mathematics

The monthly loan payment was calculated at 119 payments of $330.38 plus a final payment of $329.73 Loan balance: $25,000.00 Loan interest rate 10.0% Monthly loan payment: $330.38 Number of payments: 120 Cumulative Payments: $39,644.05 Total Interest paid: $14,644.95 On average...

### Finance - Loans problem please help

A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company sets up a sinking fund in order to repay...

### Maths Check

Can Please someone check as per below I posted this yesterday and Drwls Answered and I post back the solution. Thanks Amortization of a $1000 Loan Interest Monthly payment rate 15yr 20yr 25yr 30yr 9.5% $10.45 $9.33 $8.73 $8.41 10.0% $10.75 $9.66 $9.09 $8.78 10.5% $11.06 $9.99...

### math

The problem describes a debt to be amortized. A man buys a house for $350,000. He makes a $150,000 down payment and amortizes the rest of the debt with semiannual payments over the next 12 years. The interest rate on the debt is 11%, compounded semiannually. (Round your ...

### math

The problem describes a debt to be amortized. A man buys a house for $350,000. He makes a $150,000 down payment and amortizes the rest of the debt with semiannual payments over the next 12 years. The interest rate on the debt is 11%, compounded semiannually. (Round your ...

### Maths

Solve the problem. Assume that simple interest is being calculated. Round your answer to the nearest cent. Susie borrowed $7500. from a bank for 18 months with interest of 5% per year. Find the total amount she repaid on the due date of the loan. (Use: I=prt)

### Mathematics

(a)A loan of 12 000 was borrowed from a bank at 14% per annum Calculate (i) The interest on the loan at the end of the first year (ii) The total amount owing at the end of the first year A repayment of $ 7 800 was made at the start of the second year. Calculate (iii) the ...

### Math

A loan of $37,000 is made at 8.75% interest, compounded annually. After how many years will the amount due reach $93,000 or more?

### Mathematics

A loan of 12,000 was borrowed from a bank at 14% per annum. Calculate the interest of the loan at the end of the first year. And the total amount owing at the end of the first year. A repayment was made of 7,800 at the start of the second year. Calculate the amount still ...

### math

what formula would i use to solve for this: Loan Interest A developer needs $80,000 to buy land. He is able to borrow the money at 10% per year compunded quarterly. How much will the interest amount to if he pays off the loan in 5yrs? You need a loan amortization table to ...

### business mathmatics

the total amount on a loan of 6,000 for 150 days is 210.50. using the ordinary interest metnod. what is the rate on this loan? rounded to nearest hundredeth.

### Math

Mona takes out a $12,000 student loan to help pay for her first 2 years of college, then 2 years later needs another loan for $14,000 to get her through to graduation. She graduates 4 years and 9 months after acquiring the first loan, and payments are deferred until 6 months ...

### College Algebra

A loan of 25,000 is made at 3.75% interest, compounded annually. After how many years will the amount due reach 42,000 or more?

### Math

You need to borrow $20,000 to buy a car. You can only afford to make monthly payments of $200. The bank offers 3 choices: 3-year loan at 5%, 4-year loan at 6%, and a 5-year loan at 7%. a) What’s the monthly payment for each loan? b) Which loan is best for your situation? c) ...

### statistics

A couple considering a mortgage of $100,000 have a choice of loans. One loan is an 8% loan for 20 years, and the other loan is at 8% for 30 years. Find the amount of interest that the couple can save by choosing the 20-year loan.

### Algebra

Suppose Alice buys a car and obtains a 5 year loan for $25,000 at an interest rate of 6%. Suppose A is the amount borrowed, r is the interest rate (in decimal form), and m is the total number of monthly payments. Let w = (r)/(12) Then the formula to determine the monthly ...

### Algebra

Suppose A is the amount borrowed, r is the interest rate (in decimal form), and m is the total number of monthly payments. Let w = (r)/(12) Then the formula to determine the monthly payment amount for a loan is given by (Aw)/1-(1)/(1+w)^m Suppose Alice buys a car and obtains a...

### Economics

Calculate the total dollar amount paid for a house purchased for $200,000. The buyer paid $50,000 as down payment and the remaining $150,000 was obtained with a closed mortgage having a 25 year loan at 10% interest compounded semi-annually and a monthly payment period. Assume ...

### math

rick borrows 48,000 the loan will be a 10% add-on loan interest will be charged for 2 full years, rick will repay on monthly basis what will the total amount of interest paid,what will be the monthly amount paid,what is true rate interest paid?

### finance

You take out a 30- yr mortgage loan, purchase price is $120,000 put $20,000 down and finances the balance of $100,000 at fixed annual loan rate of 12%, what will be your monthly payment? How much total interest will you have paid at the end of 30 years?

### Math

A man buys a house for $350,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 7 years. The interest rate on the debt is 13%, compounded semiannually. (a) Find the size of each payment. $ (b) Find the total...

### Math

A person takes a simple interest loan at 7.5%. After 6 months, the amount of interest on the loan is $69.64. What was the amount of the loan? Please help me. I have been working on this for awhile.

### Math

Choose the one alternative that best completes the statement or answers the question. Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent. Martin takes out a simple-interest loan at 7.5 %. After 6 months, the ...

### Business Maths

May. 10, 2010, Leven Corp. negotiated a short-term loan of $705,000. The loan is due Oct. 2, 2010, and carries a 7.06% interest rate. Use ordinary interest to calculate the interest. What is the total amount Leven would pay on the maturity date?(Use table value.) (Use 360 days...

### Real Estate

Smith purchases a home and obtains a $65,000 loan. The principal and interest payments are $8.54 per $1,000. The loan is for 30 years at 9%. How much does Smith pay in total interest over the life of the loan?

### math

Find the monthly house payments necessary to amorti ze each loan. Then calculate the total payments and the total amount of interest paid : $199,000 at 7.01% for 25 years

### MATH

Martin takes out a simple-interest loan at 7.5 %. After 6 months, the amount of interest on the loan is $69.64. What was the amount of the loan? is $522.30 correct

### Finance - Loans problem

Reiny the answer 307.33 you posted at the bottom is coming up incorrect. please if you can help i would be very grateful. A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments ...

### Math 104

Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement and find the following information. •...

### Math

1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR? MY ANSWER=0.33% 2. Tim Newman took out a simple interest loan of $1500 at a 10 percent interest for 12 months. After 4 ...

### healthcare fiancare

HINT: 6% X $1,000,000 – {20% X ($1,000,000 – (6% X $1,000,000))} = 6% X $1,000,000 – {20% X ($1,000,000 - $60,000))}= 6% X $1,000,000 - {20% X $940,000}= 6% X $1,000,000 - $188,000 = $60,000 - $ 188,000= -$128,000 A) The interst due on a 10% loan of $1,000,000 at year ...

### Algebra

To help open a jewelry store, Chang borrowed money from his credit union. He took out a personal, amortized loan for $45,000, at an interest rate of 6.45%, with monthly payments for a term of 8 years. For each part, do not round any intermediate computations and round your ...

### Business Math

October 17, I borrowed $6,000.00 at a rate of 4%. I have to repay the loan in 7 months. What is the simple interest and the total amount owed upon maturity?

### Math

Henry invests $5,000 in a mutual fund with an annual interest rate of 7.5%. He also has a 4-yr, $10,000 loan at 3.75%. When will the amount of interest earned on the mutual fund be equal to the amount of interest paid on the loan?

### Math

Loan Amount: $15,000 Method of payment: discount basis Amount of Interest : $650 Term of loan: 1 year Effective Rate of Interest (to the nearest tenth): %

### math

Five years ago, you bought a house for $151,000, with a downpayment of $30,000 which meant you took out a $121,000 loan. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the following information. Escrow ...

### business math

you take out a loan for $20,000 simple interest loan at 4% on August 21 and in 45 days you pay off $8,000 of the loan. What is your new principal?

### Business Math

A $40,000 loan at 4% dated June 10 is due to be paid on October 11. The amount of interest is (assume ordinary interest):

### Math

Mr. Nielson wants to borrow $1,000 for 2 years. He is given the choice of i) simple interest at 12%, or ii) a loan at 10% compounded monthly. Which loan results in less interest due ? b) What interest rate compounded quarterly will give an effective interest rate of 7% ?

### Finance

To find the simple interest on a loan for 1 year at 12.5%, multiply the amount of the loan by 0.125. What simple interest will you pay on a loan of $1,458 at 12.5% for 1 year?

### UAB

a store manager obtained a loan of 25,000, at 6 3/8 % interest, for 15 months to purchase supplies. Find the amount of the simple interest.

### MATH

Harold took out a 4-year amortized loan for $22,000 at 10% to pay his tuition at a technical institute. After 1 year, he refinanced the unpaid balance of $17,291 at a 6% interest rate. (All interest rates are annual interest rates.) 1) Find the monthly payment on the original ...

### Algebra

A loan of $37,000 is made at 3%interest, compounded annually. After how many years will the amount due reach $49,000 or more? (Use the calculator provided if necessary.) Write the answer as a whole number.

### VBA programming

How to get isnumeric function to display an "error" message when necessary. Sub DetermineinterestSelectCase() Dim loan As Variant Dim interest As Double loan = InputBox("Enter your desired loan amount, from 1 dollar to 5 million dollars.") Select Case loan Case IsNumeric(loan...

### MATH PLEASE HELP

a) How much will the monthly payment on a five yr car loan that changes 8.1% interest (compounded monthly) if the amount borrowed is $12,000? b) How much total interest will be paid over the life of the loan for A i think it's 300?

### Business Analysis

Barney Casey borrowed $40,000 from his parents for 2 years. He paid them a total of $45,000 at the end of the 2-year term of the simple interest loan. What rate of interest did he pay his parents?

### Math - Accounting

Consider a home mortgage of 125,000 at a fixed APR of 9% for 30 years. - calculate the monthly payment - determine the total amount paid over the term of the loan - Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest...

### math

The total amount of interest on a loan of $6,000 for 150 days is 210.50.Using the ordinary interest method,what is the rate of interest on this loan?Round answer to the nearest hundredth. I know the ordinary interest method is 360 days. My anwser is 8.42% Could someone check ...

### MATH

Five years ago, you bought a house for $151,000, with a down payment of $30,000, which meant you took out a loan for $121,000. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the following information: Escrow ...

### math

the total amount of interest on this loan of $6000 for 150 days is $210.50. what is the rate of interest on this loan? If not compounded, or simple interest, then Interest=Principal(rateinterest)*time Here time is 5/12 of a year, you are given the interest and principle. ...

### math

If you paid 2,000 a month or 24,000 a year on 200,000 dollars at 5.00% what formula would you use to calculate the interest paid? Thanks The first year you'd pay $10,000 (.05 x $200,000) in interest. The remaining $14,000 of your payment would be applied to the principle. So...

### math

Loan Amount: $15,000 Method of payment: discount basis Amount of Interest : $650 Term of loan: 1 year Effective Rate of Interest (to the nearest tenth): I tried to work this out but I got it completely WRONG !!

### Finance

Sheet Metals has an outstanding loan that calls for equal annual payments of $12,600.47 over the life of the loan. The original loan amount was $72,000 at an APR of 8.15 percent. How much of the third loan payment is interest? $5,868.00 $4,725.89 $4,896.48 $5,009.16 $4,687.53

### Math

Suppose you have student loans totaling $10,500 when you graduate from college. The APR is 9% and the loan term is 10 years. a) What are your monthly payments? b) What is the total amount you will pay over the term of the loan? c) Of the total amount paid, what percentage is ...

### Loan

Borrower Brown borrowed $8,000 from the bank. He will pay 6% simple interest on the remaining balance of the loan in semi-annual equal PRINCIPAL payments for four years. How much total interest will Borrower Brown pay over the life of his loan?

### Precalculus

you borrow $5,000 from your parents to purchase a used car. The arrangements of the loan are such that you make payments of $250 per month toward the balance plus 1% interest on the unpaid balance from the previous month. (a) Find the first year monthly payments and the unpaid...

### Finance

you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of $35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan effective annual interest...

### Finance

you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of $35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan effective annual interest...

### Finance

you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of $35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan effective annual interest...

### Finance

you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of $35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan effective annual interest...

### Math

I have worked and reworked this problem, but I cannot seem to figure it out. Can anyone help? Jeffries & Sons is borrowing $95,000 for four years at an APR of 7.05 percent. The principal is to be repaid in equal annual payments over the life of the loan with interest paid ...

### financial math

Rate: 7% Payments: 360 @ $665.31 Total Interest: $139,511.60 How much will be repaid for this loan? $ 239,511.60239,502.40100,000.00 What percentage of this total is total interest? 60.256.258.2 What will be the average amount per payment for interest? $ 387.53385.51387.51

### Math

You borrow $3200 to buy new kitchen appliances. The simple interest rate is 5%. You pay the loan off after 4 years. What is the total amount you paid for the loan? $___

### math

Belle had the choice of taking out a four year car loan at 8.5% simple interest or a Five year loan at 7.75% simple interest. If she borrows $15,000, how much interest would she pay for each loan? Which option requires less interest?

### algebra

How would you solve this math equation? this is really confusing to me. Ms.Martin was researching the costs of financing $125,000 for a home. She found that the monthly payment for a 6.875% loan for 30 years would be $821.16 per month. She found that the monthly payment for a ...

### math

find total amount due on loan principal 600 rate 2% time in years 2

### Math

John Receive a 10,000 loan, with an interest rate of 6 %, for 6 years. What is the total amount of interest paid to the bank?

### Math

hollis is paying off 2 student loans. One loan charges 7% interest, per year. The other loan charges 9 % interest per year. He owes $1500 more on the 7% loan than he does on the other. Last year he paid a total of $617.00 in interest. what does he owe on each loan what is 2,...

### Accounting

Accounts receivable in the amount of 250,000 were assigned to the fast Finance Company by Nance INC as security for a loan of 200,000. The finance company charged a 4% commision on the face amount of the loan, and the note bears interest at 9% per year. During the first month ...