Assuming 365 days in a financial year answer the following questions: (a) Find the discounted value of $500 due in 82 days at 9% (compound) interest. (b) Find the discounted value of $500 due in 82 days at a (compound) discount rate of 9%. (c) Find the discounted value of $500 due in 82 days at 9% simple interest. (d) Find the discounted value of $500 due in 82 days at 9% commercial discount.
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- You borrow money on a self liquidating installment loan (equal payments at the end of each year, each payment is part principal part interest) Loan amount Interest Rate $632,000 15.5% Life 49 years Date of Loan January 1, 2021 Use the installment method - not straight line Do NOT round any interrmediate numbers. Do NOT turn this into a monthly problem. Do NOT put in minus signs, answer all positive numbers.PLEASE help me answer these questions, thank you very much. 1) When the amount earned on a deposit has become part of the principal at the end of a specified time period the concept is called A) discount interest. B) compound interest. C) primary interest. D) future value. 2) The future value of $100 received today and deposited at 6 percent for four years is A) $126. B) $ 79. C) $124. D) $116. 3) The future value of $200 received today and deposited at 8 percent for three years is A) $248. B) $252. C) $158. D) $200. 4) The amount of money that would have to be invested today at a given interest rate over a specified period in order to equal a future amount is called A) future value. B) present value. C) future value of an annuity. D) present value of an annuity. 5) The future value of a dollar ________ as the interest rate increases and ________ the farther in the future an initial deposit is to be received. A) decreases; decreases B) decreases; increases C) increases;…Suppose you deposit $1,016.00 into an account 4.00 years from today. Exactly 13.00 years from today the account is worth $1,741.00. What was the account's interest rate? Submit Answer format: Percentage Round to 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex. 0.09243))
- When $8,600 is invested in a savings account paying simple interest for the year, the interest, i in dollars, can obtained from the equation i=8,600r, where r is the rate of interest in decimal form. Graph i=8,600r, for r up to including a rate of 16%. If the rate is 7%, how much interest is earned? OA. $6,020 OB. $602 O C. $586 OD. $622 IThe following loan was paid in full before its due date a) Find the value of h using an appropriate formula b) Use the actuarial method to find the amount of unearned interest c) Find the payoff amount Regular Monthly Payment # of Payments Remaining after Payoff APR 7.2% $247 8 What is the finance charge per $100 financed? h=$ (Round to the nearest cent)The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $414.84 APR 4.0% Remaining Number of Scheduled Payments after Payoff 18 Click the icon to view the annual percentage rate table. ... (a) h= $3.20 (b) The unearned interest is $ (Round to the nearest cent as needed.)
- The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $445.22 Remaining Number of Scheduled Payments after Payoff 6 APR 11.0% Click the icon to view the annual percentage rate table. (a) h=$ (b) The unearned interest is $ (c) The payoff amount is $ (Round to the nearest cent as needed.) (Round to the nearest cent as needed.)You are told that a note has repayment terms of $1,700 per quarter for 6 years, with a stated interest rate of 8%. How much of the total payment is for principal, and how much is for interest? Calculate using (a) financial calculator or (b) Excel function PV. (Round answers to 2 decimal places, eg. 5,275.25.) Total payment for principal Total interest Determine if the total interest will be higher or lower than with an annual payment. The total interest will be than with an annual payment.Suppose you deposit $1,030.00 into an account 4.00 years from today. Exactly 13.00 years from today the account is worth $1,677.00. What was the account's interest rate? Submit Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex: 0.09243)) Show Hint
- DIRECTION: ENCIRCLE THE BEST ANSWER. 4.) This refers to the interest rate per conversion period A Compound interest C Rate of interest B Periodic rate D. Simple interest 5) Thuis nefers to the amount paid or eames for the use of money A Conversion period C. Principal B. Interest D Rate 6) 30 months is equivalent to A 25 years B 2.75 years C 3 years D 3.25 years 1) How much is the simple interest on this financial transaction. P = .000 00. - * 6°.. and / 2 years AP120.00 B P600.00 CP1.300 00 D P6.000.00 6) What is the total number of conversion periods when a certain amount is borrowed are 10°. coupomded mouthly for 5 years? A.12 B 50 C 24 D. 60 How unch was the interest if Sophia borrowed P45.000 90 and paid a total of PS5.500.00 ar the end of the tem A PI0.500 00 CP11.500.00 B P45,000.00 D. P100.500.00 10.) What is the interest rate per conversion period if 125.900 00 was tvested at 3.4. compounded oruually for 4 years and 6 months 0033 C 0.110 B 0.330 D. 0 160 11. Jolu borowed…The following loan was paid in full before its due date. a) Find the value of h using an appropriate formula. b) Use the actuarial method to find the amount of unearned interest. c) Find the payoff amount. Regular Monthly Payment APR # of Payments Remaining after Payoff 8.7% 4 $214 What is the finance charge per $100 financed? h = $ (Round to the nearest cent.) The unearned interest is about $ (Round to the nearest cent.) The payoff amount is $ Enter your answer in each of the answer boxes. f12 inser f9 f1o f7 fg f6 f4 f5 esc 5 7 8. %24 3 %233. * Assuming 365 days in a financial year answer the following questions: (a) Find the discounted value of $500 due in 82 days at 9% (compound) interest. (b) Find the discounted value of $500 due in 82 days at a (compound) discount rate of 9%. (c) Find the discounted value of $500 due in 82 days at 9% simple interest. (d) Find the discounted value of $500 due in 82 days at 9% commercial discount. 5. * Assume that somebody has to pay £2000 in three years' time and £3000 in seven years' time. They want to pay off both debts by a single payment in six years' time. Assuming an interest rate of 8% p.a how much do they have to pay?