Question: Find the interest and amount (maturity / value at maturity) to pay for a loan of $ 13,100 at 6 1/2% for 8 months. Interest:

Find the interest and amount (maturity / value at maturity) to pay for a loan of $ 13,100 at 6 1/2% for 8 months.
Interest: I = $
Amount M = $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Find the interest and amount (maturity / value at maturity) to pay on a loan of $ 7,900 at 6% for 120 days. Interest: I $ Amount M $

Q:

You can afford a $1250 per month mortgage payment. You've found a 30 year loan at 6% annual interest compounded monthly. a) How big of a loan can you afford? b) How much total money will you pay the...

Q:

I need help thes quston. pleas help. show work not to much is apprecite if possible, thanks 12. (10 points) Mary took out an 8.4% loan (exact interest) for $30,000 for 200 days. Find the interest and...

Q:

PART I. COMPREHENSION: (3 Marks) Direction: Read, understand, and answer the following question. (1x3=3 Marks) 1. Using your own words define and compare between simple interest and simple discount....

Q:

1.Ali deposits 6000 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 5 year? 2.You would like to set up an annuity so that, after you...

Q:

can u help me to solve from part 2 of "a" to the "c" part. Thanks! Re Homework: MyFinanceLab (Graded) Assignment 2 Save Score: 0 of 5 pts 18 of 20 (17 complete) HW Score: 80%, 80 of 100 pts P5-28...

Q:

GLOBE 66 B/s * 1896:12 Exercises: (Simple Interest-Simple Discount-Promissory Note) 1. A small business owner Borrowed Php8,500.00 at 9% for 18 months. How much interest will be repaid upon maturity...

Q:

1. [-/0.87 Points] DETAILS BRECMBC9 1.1.024. MY NOTES PRACTICE ANOTHER According to a certain newspaper, in a recent recession, outstanding consumer credit in a certain country fell to...

Q:

Chapter 5 The 'I'Irne Value of Money 157 41. 42. 43. 45. 46. 47. 48. Loan Year-End Interest on. on rent YIItvEl'ld Amot'tluol'l of Loan Bel-nee l$l Payment [5} l0." l3) lietlrement Savings. A couple...

Q:

Problems Easy Problems 5-1 1-8 5-2 5-3 FUTURE VALUE If you deposit $2,000 in a bank account that pays 6% interest annually, how much will be in your account after 5 years? PRESENT VALUE What is the...

Q:

Let T: R3 R3 be multiplication by (a) Show that the kernel of T is a line through the origin, and find parametric equations for it. (b) Show that the range of T is a plane through the origin, and...

Q:

The 95% confidence interval for the number of teens in Exercise l who reported that they had misrepresented their age online is from 45.6% to 52.5%. a) Interpret the interval in this context. b)...

Q:

Which statement may not be used as the primary statement for external reporting purposes? Group of answer choices subsidiary statement none of the answers consolidated statements parent - only...

Q:

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...