Question
In: Finance
Ann borrowed $2,956 for 8 months. If the loan's annual simple discount rate was 45.8%, what...
Ann borrowed $2,956 for 8 months. If the loan's annual simple discount rate was 45.8%, what was the loan's discount?
Solutions
jeff jeffy answered 2 years agoRelated Solutions
Robert borrows $1000 for 8 months from a lender who charges a 16% discount rate. What...
Robert borrows $1000 for 8 months from a lender who charges a
16% discount rate. What size of loan should robert ask for so as to
receive $1000 in cash? What is the equivalent simple interest rate
he pays on the loan?
lindsay borrowed a certain amount of money for 5 years at an annual simple interest rate...
lindsay borrowed a certain amount of money for 5 years at an annual
simple interest rate of 6.2%. if the maturity value oj the loan was
$4,135, what was the total amount interest she paid on the
loan?
Caitlin borrowed a certain amount of money for 9 years at an annual simple interest rate of 4.5%.
Caitlin borrowed a certain amount of money for 9 years at an annual
simple interest rate of 4.5%. if the maturity value on the loan was
$4,560, how much did she borrow?
a. Convert 3% simple monthly rate into simple annual rate. b. Convert 6% simple annual rate...
a. Convert 3% simple monthly rate into simple annual rate. b.
Convert 6% simple annual rate into annual rate, compounded monthly.
c. Convert 9% annual rate compounded monthly into annual rate,
compounded daily. d. Convert 12% annual rate, compounded weekly
into simple annual rate. e. Convert 24% simple annual rate to
annual rate, compounded continuously. Show All Work.
a. Convert 3% simple monthly rate into simple annual rate. b. Convert 6% simple annual rate...
a. Convert 3% simple monthly rate into simple annual rate. b.
Convert 6% simple annual rate into annual rate, compounded monthly.
c. Convert 9% annual rate compounded monthly into annual rate,
compounded daily. d. Convert 12% annual rate, compounded weekly
into simple annual rate. e. Convert 24% simple annual rate to
annual rate, compounded continuously. Show All Work.
Reitmans Ltd. currentlly has an annual dividend of $2.30. The discount rate for Reitmans is 8%....
Reitmans Ltd. currentlly has an annual dividend of $2.30. The
discount rate for Reitmans is 8%. Dividends are expected to grow by
20% over the next three years, 15% percent for the seven years
after that, and then 5% in perpetuity. Based on the current stock
price of $185, would you invest in the stock today? Explain using
the dividend discount model to value the stock and compare
Simple and compound interest rate 8. Determine the effective interest rate, based on a 15% annual...
Simple and compound interest rate
8. Determine the effective interest rate, based on a 15% annual
rate with monthly capitalization:
a) effective monthly rate,
b) effective quarterly rate,
c) semi-annual effective rate,
d) annual rate effective.
9. Determine the effective annual interest rate, based on the
nominal interest rate that is provided:
a) 9% per year with capitalization annually,
b) 6.8% per year with capitalization semi-annually,
c) 11% per year with capitalization monthly.
10. Determine the semi-annual effective interest rate,...
What is the present value of RM2,400 a year at a discount rate of 8% if...
What is the present value of RM2,400 a year at a discount rate
of 8% if the first payment is received 7years from now and you
received a total of 25 annual payments?
Cooper corporation has borrowed $120,000 from the bank at 8% annual interest rate, compounded monthly. The...
Cooper corporation has borrowed $120,000 from the bank at 8%
annual interest rate, compounded monthly. The company plans to pay
$2000 per month for the first 12 months, and then pay $2500 per
month for the next 12 months. Find the remaining balance of the
loan after 24 months. (Answer: $82655.21)
Please answer in excel format
7. Consider the following fixed-rate, level-payment mortgage: maturity = 360 months amount borrowed = $100,000 annual...
7. Consider the following fixed-rate,
level-payment mortgage: maturity = 360 months amount borrowed =
$100,000 annual mortgage rate = 10%
(a) Construct an amortization schedule for the first 10
months.
(b) What will the mortgage balance be
at the end of the 10th month assuming no prepayments?
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