osef took a loan from Banco Verde to start his business selling clothing. The following table show the payments and interest for 3 months on this loan account. The initial loan was $185. Assume the interest rate is 1% per month (12% APR) and that the interest is charged on the balance from the previous month. Fill in the blanks. Round your answers to two decimal places

Josef took a loan from Banco Verde to start his business selling clothing. The following table show the payments and interest for 3 months on this loan account. The initial loan was $185. Assume the interest rate is 1% per month (12% APR) and that the interest is charged on the balance from the previous month. Fill in the blanks. Round your answers to two decimal places.Month Payment Interest Balance0 - - $1851 $37 $1.85 2 $25 3 $40

Fredrick has a loan of $55,350. This loan has a simple interest rate of 3% per year. What is the amount of interest that Fredrick will be charged on this loan at the end of one year?

A restaurant borrows $15,700 from a local bank for 2 months. The local bank charges simple interest at an annual rate of 10% for this loan. Assume each month is 112 of a year. Answer each part below.Do not round any intermediate computations, and round your final answers to the nearest cent.

Cleo purchased a new set of furniture using a simple interest loan. The furniturecost $2300 and the interest rate on the loan is 12% p.a.If she is to pay off the loan over 2 years, what will her monthly instalments be?A $118.83B $552.00C $237.67D $214.67

To help open up a wine bar, Joe borrowed money from a bank.He took out a personal, amortized loan for $40,000, at an interest rate of 6.4%, with monthly payments for a term of 8 years.For each part, do not round any intermediate computations and round your final answers to the nearest cent.If necessary, refer to the list of financial formulas.(a) Find Joe's monthly payment.$(b) If Joe pays the monthly payment each month for the full term, find his total amount to repay the loan.$(c) If Joe pays the monthly payment each month for the full term, find the total amount of interest he will pay.