Bill Rich signed a 180-day note for $1,250. He repaid the loan when due with interest at an annual rate of 12 % using a banker's year.

Tony Colito paid$19.50 in interest on a loan of $2,600 for 1 month. What rate of interest did he pay?

The monthly payment on a $300,000 30 year mortgage at 6% annual interest rate is$1798.65. What is the interest payment for the first month?

The monthly payment that amortizes a loan of A dollars in t years when the interest rate is r/year compounded monthly, is given by $P=f(A, r, t)=\frac{A r}{12\left[1-\left(1+\frac{r}{12}\right)^{-12 t}\right]}$ a. What is the monthly payment for a home mortgage of $300,000 that will be amortized over 30 years with an interest rate of 4%/year? An interest rate of 6%/year? b. Find the monthly payment for a home mortgage of$300,000 that will be amortized over 20 years with an interest rate of 6%/year.

Determine the cost of the points and the new interest rate for each loan amount and interest rate. Assume each point costs 1% of the loan amount. $400,000, original APR 4.1%, 1 point with a 0.2% discount.

A $4000 certificate of deposit is purchased for$4000 and is held for eleven years. If the certificate earns an effective rate of 7%, what is it worth at the end of that period?

Which of the following theoretical factors increases the rate of a reaction?

(a) increase collision frequency

(b) increase collision energy

(c) effective collision orientation

Find the monthly payment, amount paid, and interest charged for a $90,000 mortgage loan at an annual interest rate of 10% for 20 years.

Find the time required for a $1000 investment to (a) double at interest rate r, compounded continuously, and (b) triple at interest rate r, compounded continuously. Round your results to two decimal places.$r = 2.5%$

For the following exercise,

Determine the value of the annuity for the indicated monthly deposit amount, the number of deposits, and the interest rate.

Deposit amount: $\$ 100$; total deposits: $120$ ; interest rate: $10 \%$, compounded semi-annually

A $6000 certificate of deposit is purchased for$6000 and is held for seven years. If the certificate earns an effective rate of 8%, what is it worth at the end of the period?

Suppose an amount P is invested at an interest rate r and A is the amount after t years.

(a) Write an expression for A if the interest is compounded n times per year.

(b) Write an expression for A if the interest is compounded continuously.

Find the price a purchaser should be willing to pay for the given bond. Assume that the coupon interest is paid twice a year.

$15,000 bond with coupon rate 6% that matures in 4 years; current interest rate is 5%.

To make CDs look more attractive than they really are, some banks advertise that their rates are higher than their competitors’ rates; however, the fine print says that the rate is a simple interest rate. If a person deposits $10,000 at 10% per year simple interest, what compound interest rate would yield the same amount of money in 3 years?

Suppose an amount P is invested at an interest rate r and A is the amount after t years.

(a) Write an expression for $A$ if the interest is compounded $n$ times per year.

(b) Write an expression for $A$ if the interest is compounded continuously.