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1) Tony has a single payment loan of $2100 for 90 days at 10% ordinary interest.

1) Tony has a single payment loan of $2100 for 90 days at 10% ordinary interest. What is the interest? b) What is the maturity value of the loan?. Sally has a promissory note for $415. Her terms are for 45 days at 5.6% exact interest. What is the interest?

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1) Tony has a single payment loan of $2100 for 90 days at 10% ordinary interest.

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  1. 1) Tony has a single payment loan of $2100 for 90 days at 10% ordinary interest. What is the interest? b) What is the maturity value of the loan?

  2. Sally has a promissory note for $415. Her terms are for 45 days at 5.6% exact interest. What is the interest? What is the maturity value of the loan?

  3. 3) Marty is buying a new computer. It is on sale for $499.99. He makes a down payment of $50. What is the amount he needs to finance?

  4. Tori is going to purchase a DVD player for $299.99, a DVD for $7.99 and a bucket of popcorn for $1.99. Best Buy allows a finance option if the customer will pay 15% as a down payment. How much will Tori have to pay for the down payment? How much will Tori have to finance?

  5. Bobby takes out a loan for $2300. The annual percentage rate on his loan is 9%. He agrees to repay the loan in 36 months. What is the monthly payment? What is the total amount repaid? c) What is the finance charge?

  6. Mary is purchasing a new living room set. The total comes to $2189. She wants to make a down payment of 10% and finance the rest for 12 months with an APR of 13%. What is her down payment? What is the amount financed? What is the monthly payment? What is the total amount repaid? What is the finance charge?

  7. 7) Scott takes out an installment loan of $875. The finance charge is $9.99. He agrees to repay the loan in 12 months. What is the finance charge per $100 What is the APR?

  8. Jake took out an installment loan of $8571. He agreed to repay the loan in 36 monthly payments of $300 each. What is the total amount repaid? What is the amount financed? What is the finance charge? What is the finance charge per $100? What is the APR?

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