No payments were made on a $3500 loan during its three-year term. What was the annually compounded nominal interest rate on the loan if the amount owed at the end of the term was $4298.73? (Round your answer to two

36,076 results
  1. Financial

    You need a 30-year, fixed-rate mortgage to buy a new home for $235,000. Your mortgage bank will lend you the money at an APR of 5.35 percent for this 360-month loan. However, you can afford monthly payments of only $925, so you offer to pay off any

  2. Algebra 1

    Jane needs a short-term loan to buy a new washing machine. She needs to borrow $1500 at 20% compounded annually and plans to have it paid off in 1 year. Jane writes the formula 1500(1.2)t and finds out that this loan will cost her $1800. Which equation

  3. Finance

    You take out a 30-year $100,000 mortgage loan with an APR of 6 percent and monthly payments. In 12 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan? I am working this on the assumption that your

  4. math

    The Sandersons are planning to refinance their home. The outstanding principal on their original loan is $100,000 and was to amortized in 240 equal monthly installments at an interest rate of 11%/year compounded monthly. The new loan they expect to secure

  5. Math

    This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going to pay down the loan; the rest has been going towards interest. You see that you still have $108,123 left to pay on your loan.

  6. MATH

    Jasmine is taking out a small business loan for her floral shop. She plans to apply for a $30,000 loan with a 5-year term and a 3.75% interest rate. She is unsure of her expected monthly profits, so she wants to know the benefit of a smaller loan. Using

  7. Finance

    Sutton Corporation, which has a zero tax rate due to tax loss carry-forwards, is considering a 5 year, $6,000,000 bank loan to finance service equipment. The loan has an interest rate of 10% and would be amortized over 5 years, with 5 end-of-year payments.

  8. Compound Interest : Future Value and Present Value

    Payments of $1800 and $2400 weere made on a $10,000 variable-rate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semi-annually for the first two years and 10.74% compounded monthly thereafter. What amount was owed

  9. math

    You need $28,974 at the end of 10 years, and your only investment outlet is an 8 percent long-term certificate of deposit (compounded annually). With the certificate of deposit, you make an initial investment at the beginning of the first year. A. What

  10. Math

    Suppose you take out a 45​-year ​$100,000 mortgage with an APR of 6​%. You make payments for 2 years ​(24 monthly​ payments) and then consider refinancing the original loan. The new loan would have a term of 20 ​years, have an APR of 5.9​%,

  11. Finance

    11. Loan Payments You wish to buy a $30,000 car. The dealer offers you a 4-year loan with a 6 percent APR. What are the monthly payments? How would the payment differ if you paid interest only? What would the consequences of such a decision be?

  12. Math

    Pey Soon has taken out a 20-year, $150,000 mortgage with monthly payments (made at the end of each month) at a stated mortgage rate of 6.8% per year compounded semi-annually. If she makes each payment on time, what will be the mortgage principal remaining

  13. Compound Interest

    Payments of $1,800 and $2,400 were made on a $10,000 variable-rate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semi-annually for the first two years and 10.74% compounded monthy thereafter. What amount was owed

  14. Amoritizing Loans

    "A woman borrows $6000 at 9% compounded monthly, which is to be amortized over 3 years in equal monthly payments. For tax purposes, she needs to known the amount of interest paid during each year of the loan. Find the interest paid during the first year,

  15. finance

    You have just purchased a car and taken out a $ 37 comma 000 loan. The loan has a​ five-year term with monthly payments and an APR of 5.7 %. a. How much will you pay in​ interest, and how much will you pay in​ principal, during the first​ month,

  16. math

    Susan Borrowed $5000. The term of the loan is 12% compouned monthly for 3 years. what is the monthly payments? How much must she pay at the end of of 1 year to pay the balance off? How much did she save in interest by paying the loan off in one year??

  17. 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

  18. college math

    A $8700 personal loan at 5.5% compounded monthly is to be repaid over a 4 year term by equal monthly payments. a) calculate the interest and principle component of the 18th payment b) how much interest will be paid in the third year of the loan?

  19. Math

    You need $200,000 to buy a new home. The bank offers a choice of a 30-year loan at an APR of 8% or a 15-year loan at 7.5%. Assume the closing costs are the same for both loans. a) Compare the monthly payments for these two loan options. b) Compare the

  20. Survey of Mathematics

    On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest on the simple interest

  21. Economics

    Calculate the duration of a one-year fixed payments loan with monthly payments of $150 and yield to maturity of 12%. Use this number to determine the % change in the price of this loan if interest rates increase to 14%.

  22. 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

  23. math

    suppose that $3500 is borrowed for three years at an interest rate of 4% per year. compounded continuously. find the amount owed, assuming no payments are made till the end. Round to the nearest cent.

  24. Algebra

    Billy takes a $3000 loan that compounds semi-annually. He makes no payments for the first 4 years, and after 4 years he owes $3950.43. What is the interest rate of the loan? How would I figure this out? Thank you! :-)

  25. math

    The balance on a car loan after 4 years is $8,996.32. The interest rate is 5.6% compounding annually. What was the initial value of the loan? An investment made in the stock market decreased at a rate of 4% per year for 5 years. What is the current value

  26. 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

  27. 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

  28. Math

    4. Vanna has just financed the purchase of a home for $200 000. She agreed to repay the loan by making equal monthly blended payments of $3000 each at 9%/a, compounded monthly. c. How long will it take to repay the loan? d. How much will be the final

  29. math

    The Sandersons are planning to refinance their home. The outstanding principal on their original loan is $110,000 and was to amortized in 240 equal monthly installments at an interest rate of 11%/year compounded monthly. The new loan they expect to secure

  30. engr. economics.

    last year 92005-2006) you took out a a student loan for $12,000. this year (2006-2007), you got one for $11,000. Next year (2007-2008) you plan on borrowing $10,000. You won't take a long out the following year (2008-2009), and you graduate in 209, if you

  31. Business math

    No payments were made on a $3500 loan during its three-year term. What was the annually compounded nominal interest rate on the loan if the amount owed at the end of the term was $4298.73? (Round your answer to two decimal places.)

  32. math

    cant find a way tosolve this Five years ago, Ms. Halliday received a mortgage loan from the Scotiabank for $60,000 at 7.8% compounded semiannually for a five-year term. Monthly payments were based on a 25-year amortization. The bank is agreeable to

  33. 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

  34. MATH

    Determine the principal that must be deposited today to provide for each ordinary simple annuity using the formula: A=(R((1+i)^n-1))/i a) Payments of $3500 for 7 years at 6.5% per year compounded annually. My answer: R=3500, i= 6.5%/100 = 0.065 / 12 months

  35. 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

  36. Math

    A 20 year loan requires semi-annual payments of $1333.28 including interest at 10.75% compounded semi annually. what is the original amount of the loan and what will be the balance of the loan 8.5 years later (just after the scheduled payment?)

  37. Corporate Finance

    You have just taken a 30-year mortgage loan for $200,000. The annual percentage rate on the loan is 8%, and payments will be made monthly. Estimate your monthly payments.

  38. Finance

    Consider the following scenario: John buys a house for $150,000 and takes out a five year adjustable rate mortgage with a beginning rate of 6%. He makes annual payments rather than monthly payments. Unfortunately for John, interest rates go up by 1% for

  39. Finance

    Consider the following scenario: John buys a house for $150,000 and takes out a five year adjustable rate mortgage with a beginning rate of 6%. He makes annual payments rather than monthly payments. Unfortunately for John, interest rates go up by 1% for

  40. finance

    I am borrowing $10,000 for 5 years at 9%. payments, which are made on a monthly basis, are determined using the add-on method. 1. how much total interest will i have to pay on the loan if it is held for the full 5 year term. 2. what are my monthly

  41. Finance

    I am borrowing $ 10,000 for 5 years at 7% . Payments are made on a monthly basis and are determined using the add- on method. 1: How much total interest will I pay on the loan if I held it for the full 5 year term ? 2 : What would my monthly payments be

  42. business maths

    a 18 year loan requires month ends payments of $587.69 including interest at 18.4% compounded monthly. what wil be the balance on the loan after half of the payments have been made. (do not round intermediate calculations, just round final answer to two

  43. compund interest

    Payments of $1800 and $2400 weere made on a $10,000 variable-rate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semi-annually for the first two years and 10.74% compounded monthly thereafter. What amount was owed

  44. Business Finance

    Cassandra is repaying an installment loan of $3500 with 20 equal monthly payments of $196 each. What is the annual percentage rate of the loan?

  45. college math

    A $8700 personal loan at 5.5% compounded monthly is to be repaid over a 4 year term by equal monthly payments. a) calculate the interest and principle component of the 18th payment b) how much interest will be paid in the third year of the loan?

  46. finance

    For a $13,000 student loan with a 6% APR, how much of the payment will go toward the principal and how much will go toward paying interest for each of the first six payments? Assume this is a 10-year loan with monthly payments.

  47. Urgent! Help please!

    On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest on the simple interest

  48. Survey of mathematics

    On January 5, Ebony Davis borrowed $6,500 on a simple interest loan from a lending institution to finance her catering business. She borrows the money at a rate of 8.5% with a term ending on December 9. a. Calculate Ebony's interest on the simple interest

  49. math

    A business is taking alon to buy equipment. the loan is 40,000, set at 4% interest and will be paid off in 12 years. the bank wants to save the business money by calculatine the interst on a Remainin-Balance basis in case he pays it off early The annual

  50. Math

    Suppose you wnat to purchase a house for 650,000. Hoe much of the loan would be left after 10 years if the interest rate was 3.8 % and it was a thirty year mortgage? And if you made the montly payments for ten years, and then increase your payment to 4000

  51. college math

    a math student borrowed $9300.00 from his local bank at 7% compounded quarterly to pay for his studies. the loan is to be repaid by equal payments at the end of every quarter over a two year term. a)construct the amortization schedule for the loan.

  52. business finance

    Stacy took out a loan for $15,000. Her note was for 300 days at 5% ordinary interest. On day 100 she made a partial payment of $5,000. On day 200 she made a second payment of $5,000. On day 250 she made yet a third payment of $2,500. a. (1 point) What is

  53. Finance

    Here's another way to look at it. Suppose you want to borrow $100,000. You choose a 30-year fixed rate loan at 7.5%, and pay one discount point ($1,000), a 1% origination fee ($1,000), and $350 in other fees. Although the lender is giving you a loan for

  54. engr. econ.

    homeowener is considering refinancing his home. original amount of the 30 yr loan was 250,000 at 12% compounded monthly. The owner has made ten years of payments. how much is the remaining balance on the loan. this is what I gotL r=12%, m=12,

  55. business math

    Term of Loan/Date of Loan using Banker's Rule? I need helps in solving this question. I have to submit it by today.Tq On 4 Oct 2010, Alia paid $8200 for his loan of $8000 made on a certain date. If the simple interest rate was 5%, determine: a)the term of

  56. math

    Vanna has just financed the purchase of a home for $200 000. She agreed to repay the loan by making equal monthly blended payments of $3000 each at 4%/a, compounded monthly How long will it take to repay the loan? How much will be the final payment?

  57. Finance

    what would be your monthly car payment on a $15000 4 year loan @ 10%. Payments are made at the end of each month

  58. business math

    financing furniture that costs $4200.00 with a two year installment loan. The loan requires a 12% down payment and 24 equal monthly payments of $195.00. According to this information, what would be the finance charge on the loan?

  59. Finance

    Mrs. Smith borrowed $20,000 from Last National Bank. She will repay the loan with 5 annual payments and her interest rate is 14%. a) Find the amount of her annual payments. b) What is her loan balance after she has made her 3rd annual payment?

  60. Math

    Stillwater hospital is borrowing $1,000,000 for its medical office building. The annual interest rate is 5 percent. What will be the equal annual payments on the loan if the length of the loan is four years and payments occurs at the end of each year?

  61. math

    What is the payoff for a loan with monthly payments of $359.69, after 26 payments have been made, contract was for 3yrs. at an annual interest rate of 9.2%? need to figure out payoff with 10 payments left, not working out for me

  62. Business Math

    If Wilma borrows $5,000 from her brother (at 5% interest per year) and the loan matures in 10 years, how much will she have to pay annually to pay the loan off in 10 years? How much will she have to pay annually to pay the loan off in four years?

  63. math(simple interest)

    A $9,000 loan is to be repaid in three equal payments occurring 60, 180, and 300 days, respectively, after the date of the loan. Calculate the size of these payments if the interest rate on the loan is 7 1/4%. Use the loan date as the focal date.

  64. math

    OMG I CAN NOT get this !!!! Purchase price of article = $495 Down payment = $50 Number of payments = 36 True annual interest rate = 18% Monthly payment amount = $ The formula is I= 2YC ________ M(N+1) y = the number of payments made in a year. m = the

  65. South Tahoe Middle School

    A loan of $20,000 at 8% with payments & interest of $1,800. What is the amount owed after 11 payments have been made?

  66. Math

    $38,000 loan, 60 month/ 5years, 7.5% rate, and the payments are made quarterly not monthly. How much are the payments going to be?

  67. Accounting.

    At what rate of interest compounded semi-annually will payments of birr 3500 per every six months for 12 years discharge a current debt of birr 35000 ?

  68. math

    using simple interest on a loan at 8.4% for one year making monthly payments. Find the APR on a $5000 loan.

  69. accounting

    I have figured this out I just want to make sure I am correct in my answers. 1.On January 2, 2007, A company issued $100,000 of 5%, 10 year bonds. The bonds will mature in ten years. The bonds were sold for for 95% (or .95 of par) and will pay interest

  70. Math

    Tim Worker buys a new sofa for $549.95. He pays 20% down and takes an installment loan to complete the purchase. He makes 12 payments which include his principal and a $50.00 finance charge. What is the APR on his loan? The down payment is $ The amount

  71. economic

    The owner of a manufacturing plant borrows $170,000 to buy new robotic equipment for the plant. The loan is to be repaid over 17 years in equal quarterly payments at 4% annual interest with no payments for the first year (interest does accrue the first

  72. 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

  73. 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

  74. 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

  75. 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

  76. financial accounting

    If a $6,000, 10%, 10-year bond was issued at 104 on October 1, 2011, how much interest will accrue on December 31 if interest payments are made annually

  77. consumer math

    Tim Worker buys a new sofa for $629.95. He pays 25% down and takes an installment loan to complete the purchase. He makes 12 payments which include his principal and a $60.00 finance charge. What is the APR on his loan to the nearest tenth? The down

  78. math

    Tim Worker buys a new sofa for $629.95. He pays 25% down and takes an installment loan to complete the purchase. He makes 12 payments which include his principal and a $60.00 finance charge. What is the APR on his loan to the nearest tenth? The down

  79. personal finance concepts

    Please answer these questions: A. After a protracted legal case, Joe won a settlement that will pay him $11,000 each year at the end of the year for the next ten years. If the market interest rates are currently 5%, exactly how much should the court invest

  80. finance

    John borrows $150,000. The terms of the loan are 7.5% over the next 5 years. It is important to note that he makes annual rather than monthly payments. Construct a loan amortization schedule that shows the 5 payments of John's loan.

  81. Math

    I need help with these few questions on my homework please :) 1. How much money would you need to pay to receive a payout annuity of $8,503.05 annually for 10 years, assuming your money earns 7.5% compounded annually? Assume that your payments increase

  82. Math

    I need help with these few questions on my homework please :) 1. How much money would you need to pay to receive a payout annuity of $8,503.05 annually for 10 years, assuming your money earns 7.5% compounded annually? Assume that your payments increase

  83. Please Help

    Find the present value of an ordinary annuity of $1,400 payments each made semiannually over 8 years and earning interest at 12% per year compounded semi-annually. ​ $6,954.70 $9,763.58 $14,148.25 $3,365.99 Thanks for the help

  84. math

    1. =SUM(A14,A8) 2. =C8+ 15 3. PMT function {PMT(D4D12,E4,-C4)} What will each of the above formulas do please see if I have the correct answer using excel or another spreadsheet document. 1. Is the sum between the two blocks listed the more blocks the more

  85. Math please check answer

    1. =SUM(A14,A8) 2. =C8+ 15 3. PMT function {PMT(D4D12,E4,-C4)} What will each of the above formulas do please see if I have the correct answer using excel or another spreadsheet document. 1. Is the sum between the two blocks listed the more blocks the more

  86. accounting

    John borrows $150,000. The terms of the loan are 7.5% over the next 5 years. It is important to note that he makes annual rather than monthly payments. Construct a loan amortization schedule that shows the 5 payments of John's loan. EXCEL TEMPLATE

  87. maths

    If a loan was repaid by monthly payments of $9230.00 in 7.5 years at 6.15% compounded annually, how much interest was paid?

  88. accounting

    You need $28,974 at the end of 10 years, and your only investment outlet is an 8 percent long-term certificate of deposit (compounded annually). With the certificate of deposit, you make an initial investment at the beginning of the first year. A. What

  89. Finance

    You are planning to borrow OMR 5,000. You can repay the loan in 40 monthly payments of OMR 147.50 each or 36 monthly payments of OMR 161.34 each. You decide to take the 40-month loan. During each of the first 36 months you make the loan payment and place

  90. math

    The balance on a car loan after 4 years is $8,996.32. The interest rate is 5.6% compounding annually. What was the initial value of the loan? An investment made in the stock market decreased at a rate of 4% per year for 5 years. What is the current value

  91. Algebra

    Car financing for less 2-year term Up to $40,000 6% compared annually with a $500 up-front payment 1. What part of the offered deal is this interest rate? 2 year term Up to $40,000 6% compounded annually**** $500 up-front payment

  92. maths financial

    Brenda takes out a twenty year loan of R400,000..she repays the loan by means of equal montly payments starting one month after the granting of the loan.the interest rate is 16% per annum compounded montly. calculate the montly instalments.

  93. Real Estate

    If a borrower can afford to make monthly principal and interest payments of $1,000 and the lender will make a 30-year loan at 8-1/2%, how large a loan (rounded to the nearest $100) can this buyer afford? (BE SURE TO USE THE AMORTIZATION TABLE.) 30 yr loan

  94. Maths

    Firm has a $500,000 loan with 9% APR (compounded monthly) Loan is 5-yr based on a 15-yr amortization, meaning loan payments will be calculated as if you take 15 years to pay off the loan, but actually must do so in 5 yr. To do this, you make 59 equal

  95. Finite Math

    The Sandersons are planning to refinance their home. The outstanding principal on their original loan is $110,000 and was to amortized in 240 equal monthly installments at an interest rate of 11%/year compounded monthly. The new loan they expect to secure

  96. finance help

    You have decided to buy a car that costs $34,100. The dealer offers you a 5-year loan with monthly payments of $695 per month. What is the annual nominal interest rate on the loan?

  97. finance

    You have decided to buy a car that costs $34,100. The dealer offers you a 5-year loan with monthly payments of $695 per month. What is the annual nominal interest rate on the loan?

  98. Finance

    You have decided to buy a car that costs $34,100. The dealer offers you a 5-year loan with monthly payments of $695 per month. What is the annual nominal interest rate on the loan?

  99. accounting

    On January 2, 2007, a company issued $100,000 of 5%, 10 year bonds. The bonds will mature in ten years. The bonds were sold for for 95% (or .95 of par) and will pay interest semi-annually, or twice a year, on June 30 and Dec 31. Record the journal entries

  100. 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:

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