Answer:
The answer is 2
Explanation:
Answer is the letter D the overall way you deal ith conflicts
The monthly payment is $386.67.
<h3>
What is the monthly interest rate?</h3>
- A monthly interest rate is simply the amount of interest charged in one month.
- This does not include any other fees associated with the loan, and it does not indicate how expensive a loan is.
- APR, on the other hand, is the annual percentage rate charged on a loan for a year.
So,
- PV = 20,000, I/y = 0.50, n = 12 × 5, FV = 0
- CPT PMT which equals $386.67
Therefore, the monthly payment is $386.67.
Know more about monthly interest rates here:
brainly.com/question/2151013
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From the problem statement it is clear that here we need to find out simple interest rate.
One do not get interest on any investment made at the end of tenure.
Putting this mathematically:
Let amount at the end of 5th year as A
Simple Interest for 5 years, SI = 750 *5
SI = 3750
Hence A = 10000 +3750
A= 13750
Let rate of return = R
Tenure t = 5
But,
A = P(1 + R*t/100)
13750 = 10000( 1+ R*5/100)
13750 = 10000 + 50000R/100
3750 = 500R
R = 3750/500
R = 7.5 %
Hence rate of return is 7.5% per annum (answer)
