# Find the principal of a 15-month loan with a rate of 6.5%, if it results in interest of $812. # Find the principal of a 15-month loan with a rate of 6.5%, if it results in interest of$812.

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Find the principal of a 15-month loan with a rate of 6.5%, if it results in interest of $812. ## Answers (1) 2021-02-14 Let I be the interest, P the principal, r the interest rate (in decimals) and t the loan period (in years). The formula would be: $$\displaystyle{I}={P}{r}{t}$$ Substitute: $$\displaystyle{812}={P}\times{0.065}\times{1.25}$$ $$\displaystyle{P}=\frac{{812}}{{{0.065}\times{1.25}}}$$ $$\displaystyle=\frac{{812}}{{0.08125}}$$ =9993.85 ### Relevant Questions asked 2021-05-11 Bethany needs to borrow $$10,000.$$ She can borrow the money at $$5.5\%$$ simple interest for 4 yr or she can borrow at $$5\%$$ with interest compounded continuously for 4 yr. a) How much total interest would Bethany pay at $$5.5\%$$ simple interest? b) How much total interest would Bethany pay at $$5%$$ interest compounded continuously? c) Which option results in less total interest? asked 2021-02-11 Consider that it's preferable to invest$25,000 to provide for a scholarship at the end of each year in perpetuity. The first scholarship will be awarded one year from now. Find the size of the annual scholarship, if the interest rate is 5% compounded annually.
Finance bonds/dividends/loans exercises, need help or formulas
Some of the exercises, calculating the Ri is clear, but then i got stuck:
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At what price have i purchased a security if i already made a 5€ profit, and this security pays dividends as follows: first year 1,50 €, second year 2,25€, third year 3,10€ and on the 3d year i will sell it for 18€. Market rate is 8%, risk free rate 0,90%, beta=2,3.
What is the original maturity (in months) for a ZCB, face value 2500€, required rate of return 16% EAR if we paid 700€ and we bought it 6 month after the issuance, and actually we made an instant profit of 58,97€
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You want to invest money for your child's education in a certificate of deposit (CD). You want it to be worth $$12,000$$ in 10 years. How much should you invest if the CD pays interest at a $$9\%$$ annual rate compounded
a) Annually?
b) Continuously?
Marty asked some of his classmates to rate their level ofstress out of 10, with 10 being very high. He also asked them tomeasure th enumber of minutes it took them to get from home toschool. A random selection of his results is listed below.

A.) Explain what a positive value for thecoefficient of correlation indicates.
Eric borrowed a total of $4000 from two student loans. One loan charged 5% simple interest and the other charged 4.5% simple interest, both payable after graduation. If the interest he owed after 3 years was$547.50, determine the amount of principal for each loan.
A long, straight, copper wire with a circular cross-sectional area of $$\displaystyle{2.1}{m}{m}^{{2}}$$ carries a current of 16 A. The resistivity of the material is $$\displaystyle{2.0}\times{10}^{{-{8}}}$$ Om.
a) What is the uniform electric field in the material?
b) If the current is changing at the rate of 4000 A/s, at whatrate is the electric field in the material changing?
c) What is the displacement current density in the material in part (b)?
d) If the current is changing as in part (b), what is the magnitude of the magnetic field 6.0cm from the center of the wire? Note that both the conduction current and the displacement currentshould be included in the calculation of B. Is the contribution from the displacement current significant?