accouest would be obtained from bank B over bank A? oyears, how much addi- B. $6
ID: 1123960 • Letter: A
Question
accouest would be obtained from bank B over bank A? oyears, how much addi- B. $6 C. $10 D. $8 A. $4 E. $12 oney, Q, will be received 3 years from now. At 10% annual interest, the present 5950. At the same interest rate, what would be the value of Q in 7 years? B. $804.30 C. $1450.30 D. $1851.30 A. $977.30 3. You borrow $10.000 to purchase a car. You have to repay the loan in 48 equal end-of period 3.1 The nominal interest rate is most nearly: 3.2 The effective annual interest rate is most nearly: 3.3 The effective rate of interest per month is most nearly: 3.4 The amount of the monthly payment is most nearly: monthly payments. Interest is calculated at 1.25% per month. Determine the following: C. 1.5% C. 16.08% C. 1.30% C. 250 A. 15% A. 17.7% A. 1.34% A. 287 B. 60% B. 15.05% B. 1.25% B. 300 D. 6% D. 15% D. 1.52% D. 270 E. 2096 E. 2096 E. 1.43% E. 278 4. You borrow $1000. To repay this amount you have to make 12 equal monthly payments of S90.30. Determine the following: 4.1 The effective monthly interest rate is most nearly: 4.2 The nominal annual interest rate is most nearly: 4.3 The effective annual interest rate is most nearly: A. 1.50% B. 1.20% C. 1.30% D. I.25% E. A. 1696 A. 16.80% B. 18.60% C. 18.06% D. 16.08% E. 18.86% 1% B. 15% C. 14% D. 13% E. 17%Explanation / Answer
2 - $1450.30
3
3.1 - A 15%
3.2 - C 15%
3.3 - B 1.25%
3.4 - D 270
4 -
4.1 - A 1.50%
4.2 - B 15%
4.3 - C 16.80%
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