Nolan Walker decided to buy a used snowmobile since his credit union was offering such low interest rates. He borrowed $3,900 at 4.25% on December 26, 2019, and paid it off February 21, 2021. How much did he pay in interest? (Assume ordinary interest and no leap year.) (Use Days in a year table.) (Do not round intermediate calculations. Round your answer the nearest cent.) Interest paid
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- The company purchased the equipment 600,000. The interest rate of bank is 12,400. The loan is denominated in OMR, matures on March 31 2019. The spot rate of OMR 2.50. What is the value of interest expenses? Select one: a. None of the other points b. OMR 12,400 c. OMR 1,500,000 d. OMR 31,000The company purchased the equipment 600,000. The interest rate of bank is 12,400. The loan is denominated in OMR, matures on March 31 2019. The spot rate of OMR 2.50. What is the value of interest expenses?Select one:a. OMR 12,400b. OMR 1,500,000c. OMR 31,000d. None of the other pointsOn April 5, 2019, Janeen Camoct took out an 8.5% loan for $20,000. The loan is due March 9, 2020. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2020? (Ignore leap year.) Required: What are the number of days between the two dates listed below? Note: Use the DATEDIF or DAYS function to calculate the number of days. 4/5/2019 3/9/2020 What is your principal? Note: Answer should be entered as a numeric value and not a formula. What is your rate? Note: Answer should be entered as a numeric value and not a formula. What is the time? What total amount will Janeen pay on March 9, 2020?
- On September 12, Jody Jansen went to Sunshine Bank to borrow $2,400 at 8% interest. Jody plans to repay the loan on January 27. Assume the loan is on ordinary interest. (Use Days in a year table) a. What interest will Jody owe on January 27? Note: Do not round intermediate calculations. Round your answer to the nearest cent. X Answer is complete but not entirely correct. $ 72.06 X Interest b. What is the total amount Jody must repay at maturity? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Answer is complete but not entirely correct. Maturity value $ 2,472.06 X Return to questionOn September 1, 2021, Middleton Corp. lends cash and accepts a $10,000 note receivable that offers 18% interest and is due in six months. How much interest revenue will Middleton Corp. report during 2022? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $300. $468. $335. $617.Kelly O’Brien met Jody Jansen at Sunshine Bank and suggested she consider a loan on exact interest. Recalculate the loan for Jody under this assumption. Jody Jansen went to Sunshine Bank on: 9/12/2020 She borrowed: $ 2,300.00 Her interest rate was: 0.09 Date the money borrowed is due: 1/27/2021 Previous interest was: 78.78 Required: Complete the following using the information above and exact interest: How many days is Jody Jansen borrowing this money for? Assume the loan is on exact interest. What interest will Jody owe on January 27? What is the total amount Jody must repay at maturity How much would she save in interest?
- 1. En.Rahim borrowed a sum of loan amount RM2500 on 9 November 2018. Five months later he paid back RM2850 with charges r% simple interest. No use excel. Find a) The date of repayment (9/4/2019) b) The simple interest rate, r. (33.6%)Chang took out a loan for 146 days and was charged simple interest at an annual rate of 12.5%. The total interest he paid on the loan was $245. How much money did Chang borrow? Assume that there are 365 days in a year, and do not round any intermediate computations. If necessary, refer to the list of financial formulas. $0 Explanation 50°F Partly sunny A Check X 4 Ś ? T a 1 Ⓒ2022 McGraw Hill LLC. All Rights Reserved. Terms of U 27 W X PDF/K Suppose that on January 1 you have a balance of $2800 on a credit card whose APR is 17%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1, a Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c What percentage of your total payment from part (b) is interest? a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed)
- simple interestSolve the following problems:1. Sassy borrowed P 10,500 on Nov. 6, 2020 to be repaid on April 11, 2021 at 15.3% interest in a year. How much will the interest be? Find the amount to be paid on the maturity date.2. Find the exact interest and the final amount due on P 12,350 at 11 % for 150 days, using ordinary interest.3. The interest on a loan of P 2,500 is P 165.00 . If the rate of interest is 6 %, when is the loan due?Complete the following table by using Table 15.1. ( Do not round intermediate calculations.Round your answers to the nearest cent.): Selling price: $158,000 Down payment: $31,000 Amount mortgage: ?? Rate: 6.50% Years: 30 Monthly payment: ?? First payment broken down into-- interest: ?? principle:?? Balance at end of month: ??On September 14, Jennifer Rick went to Park Bank to borrow $3,600 at 9.25% interest. Jennifer plans to repay the loan on January 27. Assume the loan is on ordinary interest. (Use Days in a year table.) a. What interest will Jennifer owe on January 27? (Do not round intermediate calculations. Round your answer to the nearest cent.) Interest $ b. What is the total amount Jennifer must repay at maturity? (Do not round intermediate calculations. Round your answer to the nearest cent.) Total amount $