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.
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,...
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
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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