Find the APR (true annual interest rate), to the nearest half percent, for the following loan.AmountFinanceNumber ofFinancedChargeMonthly Payments$2800$10012Click the icon to view the annual percentage rate table.The annual percentage rate is %.Enter your answer in the answer box.

APR FORMULA: APR =interestprincipaln×365×100 where, n = no of term of loan in days

Find the APR (true annual interest rate), to the nearest half percent, for the following loan. Amount Financed Finance Number of Charge Monthly Payments $2800 $100 12 Click the icon to view the annual percentage rate table. The annual percentage rate is %.

Find the APR (true annual interest rate), to the nearest half percent, for the following loan. Amount Financed Finance Number of Charge Monthly Payments $2800 $100 12 Click the icon to view the annual percentage rate table. The annual percentage rate is %.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Find the APR (true annual interest rate), to the nearest half percent, for the following loan.
Amount
Finance
Number of
Financed
Charge
Monthly Payments
$2800
$100
12
Click the icon to view the annual percentage rate table.
The annual percentage rate is %.
Enter your answer in the answer box.

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Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $7,900 36 10% $ $ $ https://www.webassign.net/brecmbc9/13-table-1.pdf
Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $700 18 16% $ $ $
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Find the APR of the loan given the amount of the loan, the number and type of payments, and the add-on interest rate. Loan amount, $9,000; three yearly payments; rate = 8% The annual percentage rate is%. (Type an integer or a decimal.)
Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) Monthly Payment Amount Number of Table Finance APR Financed Payments Factor Charge $800 18 16% $ 15.91 $ 50.29 $ 105.22
Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) Time Interest $7,300 10.4 107 X days $227 Need Help? Read It
LINE 721757 Find the APR (true annual interest rate), to the nearest half percent, for the following loan. Finance Charge Number of Monthly Payments $175 Amount Financed $3100 18 Click the icon to view the annual percentage rate table. The annual percentage rate is%.
Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.)
Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and precentage to one decimal) Amount Financed = 100,000 Number of Payments = 72 Monthly Payment = 2,025.50 SOLVING FOR THE FOLLOWING: Finance Charge = $_________ APR= ___________%
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