Find the monthly interest rate on a loan

Assignment Help Mathematics
Reference no: EM131623304

Question: 1. Find the monthly interest rate on a loan that has an annual interest rate of 9.2%. Round to thousandths.

2. A loan of $2,950 at 8% is made for two years compounded annually. Find the future value (compound amount) of the loan. Find the amount of interest paid on the loan.

Reference no: EM131623304

Questions Cloud

Break even on the reduced price : What rate of markdown can Workwear Station offer and just break even on the reduced price?
Find the next end-of-period principal : For each remaining period in turn, find the next end-of-period principal: Multiply the previous end-of-period principal by the sum of 1 and the period interest.
Explain carl was fired for excessive absenteeism : Carl sued Parcel Express, claiming religious discrimination. Parcel Express defended claiming that Carl was fired for excessive absenteeism
Freedom index and the corruption index : Finally, what is the relationship between the freedom index and the corruption index? What does this relationship mean?
Find the monthly interest rate on a loan : Find the monthly interest rate on a loan that has an annual interest rate of 9.2%. Round to thousandths.
Limitations of research for resolving advertising problem : How does the analogy of a map reveal the limitations of research for resolving an advertising problem?
Determine the implications of the data for your research : Analytical techniques to help you clarify the data and determine the implications of the data for your research questions.
Anticipated sales increase related : Using the above information, make a budget for May 20X8 stating the total cost. Use a spreadsheet to display your data and calculations.
Find the future value of given investment : Find the future value of a $20,000 investment at 3.5% annual interest compounded semiannually for two years.

Reviews

Write a Review

Mathematics Questions & Answers

  The range rule of thumb to approximate standard deviation

The normal monthly precipitation (in inches) for August is listed for 20 different U.S. cities. Find the median of the data.

  Summary of significant accounting policies

How many years are covered in each of the primary comparative financial statements and were all of these statements audited? Name the auditors. What were the auditors' conclusions concerning these statements?

  Use of trigonometric ratios to find the distancetwo boats

use of trigonometric ratios to find the distance.two boats leave the port at the same time. the first boat travels due

  What is the distance between the origin and the point

what is the distance between the origin and the point (5,12)? if necessary, round your answers to two decimal places.

  The time spent in days waiting for heart transplant in two

the time spent in days waiting for a heart transplant in two states for patients with type a blood can be approximated

  Simplex method to maximize

Use the simplex method to maximize P= 8x+9y subject to 3x+2y is less than or equal to 12 6x+1y is less than or equal to 15 X is greater than 0 Y is greater than 0

  Formulate a linear programming model for the problem

The company wants to know the amount of each ore to use per ton of the alloy that will minimize the cost per ton of the alloy. a. Formulate a linear programming model for this problem.

  The length and width of the floor of a room are each 12

the length and width of the floor of a room are each 12 meters. the height is 4 meters. a spider on the floor in a

  Find a formula for the inverse of function

An organization determines that the cost per person of chartering a bus is given by the formula Cx=(250+7x)/x where x is the number of people in the group and C(x) is in dollars. Find a formula for the inverse of this function.

  How many user names begin with a and end with 9

Students log on to California Virtual Campus with a user name consisting of eight characters: four uppercase letters of the alphabet followed by four digits.

  Find the directed graphs of the symmetric closures

Draw The Directed graph of the reflexive closure of the relations with the directed graph shown.

  Find the radius and height of the cylinder of maximum volume

A hemisphere of radius 8 sits on a horizontal plane. A cylinder stands with its axis vertical, the center of its base at the center of the sphere, and its top circular rim touching the hemisphere. Find the radius and height of the cylinder of maxi..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd