A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in order to have $5600 to replace all the windows in your house in 8 years?

Q: A man needed P250, 000 at the end of 3 years, how much money must he deposit quarterly in an…

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Q: Tony Ring wants to attend Northeast College. If he deposits $34,507 today, how much will he have 4…

A: Given Principal amount = $34,507 Interest rate = 12% compounded semiannually Time = 4 years

Q: As the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more…

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Q: Marwan provides a donation of $4291 to a college with the provision that a scholarship is paid at…

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Q: If an amount $2144 at a simple interest rate of 10% for 4 years. Then the simple interest is $. O…

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Q: In a 7 years, you want to have $3,120 worth of remodeling done to your house bathroom. How much…

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Q: If you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: Here I am attaching image so that you understand each and every step.

Q: A recent college graduate moves back in with their parents and invests their entire first-year…

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Q: Consider a Bond Mutual fund that gains 3% interest compounded Monthly. If you deposited $66,000 how…

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Q: Kunio puts $3,300.00 into savings bonds that pay a simple interest rate of 2.5%. How much money will…

A: Simple interest algebra

Q: Jules deposits P15,000 every 3 months in a fund that earns 5% compounded quarterly. Assuming that…

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Q: If you borrow $29,000 at 8.4% annual simple interest for 11 years, how much must you repay at the…

A: use formula written below

Q: If you deposit P5,500 in a bank at an annual simple interest rate of 0.5%, how much money will you…

A: Given  Principle(P) = 5500 Rate(R) = 0.5 Time(T) = 12   By the formula SI = PRT100 = 5500×0.5×12100…

Q: If you deposit $300 now in a savings account and increase your deposits by 10% each month, how much…

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Q: How much interest (to the nearest dollar) would be saved on the following loan if the home were…

A: We will find out the required value.

Q: A lending company advertises that for a fee of P10, you can immediately borrow up to P200 for one…

A: The formula relates present value(P), future value(F), interest rate(i) and the number of years(n)…

Q: Alain Dupre wants to set up a scholarship fund for his school. The annual scholarship payment is to…

A: Given Amount=$2300 Rate of interest=3.3%

Q: Springfield Florist plans to replace its delivery vehicle in three years. If they set aside $16,000…

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Q: If you want to earn 9% annual simple interest on an investment, how much should you pay for a note…

A: Given that  worth $28,700.00 in 5 months. 9% annual simple interest on an investment,

Q: Niagara Vineyards borrowed $75,000 to update their bottling equipment. They agreed to make payments…

A: Need to find how long company have to make payments

Q: paying 15.5%

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Q: You have $2,500 on a credit card that charges a 14% interest rate. If you want to pay off the credit…

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Q: You have $3,500 on a credit card that charges a 19% interest rate. If you want to pay off the credit…

A: We have to calculate monthly amount.

Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How much money will be…

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Q: Jessica would like to have $36,000 to buy a new car in 9 years. To accumulate 36,000 in 9 years, how…

A: We have to find that how much would Jessica need to invest monthly in a sinking fund with 6%…

Q: A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=300 r=9%=0.09 t=4 years…

Q: Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. c. If you pay…

A: Given that, loan amount P=$175,000, monthly payment PMT= $975, Interest rate r=4.5% and frequency of…

Q: In order to help pay for college, the grandparents of a child invest $1,650 in a bond that pays 1.5%…

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Q: If you borrow $600 for 18 months at 8% annual simple interest how much must you repay at the end of…

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Q: Find the simple interest of $1,000 borrowed at 6% for 4 years.

A: Given: The principal amount = $1000. The rate of interest = 6%. The time =4 years.

Q: How much interest will Roxanne have to pay if she borrows $1000 for 2 yr at a simple interest rate…

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Q: If the rate of interest in Example 2 was 6% instead of 1.2%, how much will the account have after 24…

A: Principal Investment (P) =$1000 Rate of interest (R) = 6% per annum = 612% per month=12% per month…

Q: Suppose that you borrow $2000.00 from a friend and promise to pay back $4150.00 in 5 years. What…

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Q: if $120 double in approximately 11 years, what is the interest rate

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Q: What is the simple interest paid on $1600 at 3 % for 4 years? Round your answer to the nearest cent.

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Q: Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of…

A: From the given information, the principal investment is P=$4000, interest rate r=0.045, and n=1 and…

Q: An investment fund pays 3.25% per year, compounded monthly, on all money invested. How much interest…

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Q: An account that yields 6% simple interest annually has $2,000. How much will be in the account after…

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Q: Erin would like to buy a $350,000 apartment when she retires in 10 years. How much should she…

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Q: You have $3,000 on a credit card that charges a 13% interest rate. If you want to pay off the credit…

A: Given data Loan amount = $3000 Interest rate(r) = 13% = 0.13 Period = 5 years => t = 5 × 12 = 60…

Q: As the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more…

A: Formula used to solve the given problem is given below: An=P×1-1+r-nr Where; P= periodic payment…

Q: Parents wish to have $150,000 available for a child's education. If the child is now 3 years old ,…

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Q: How much did the client borrow at 5% compounded annually when he settled his obligation of P85,300…

A: Compound hobby (or compounding hobby) is the hobby on a mortgage or deposit calculated primarily…

Q: You have $2,000 on a credit card that charges a 22% interest rate. If you want to pay off the credit…

A: Given:

Q: Bree has accumulated $151,578.48 in her retirement savings plan. She wants to purchase an annuity…

A: Given that, Bree has accumulated $151578.48 in her retirement savings plan. She wants to purchase an…

Q: A college student receives an interestfreeloan of $8250 from a relative. The student will repay$125…

A: A college student receives an interest free loan of $8250 from a relative. The student will repay…

Q: For their newborn child, parents deposit $10,000 in a college account that pays 8% interest,…

A: We will use the compound interest formula to find the amount after 17 years

Q: If the interest rate on a $5,000 loan is 10%, what is the total amount due (principal and compound…

A: Principal  =  $5000  Rate  =  10%  =  0.1     Final amount to be paid    =  5000 × ( 1 + (10/100) )3…

Q: If you want to earn 15% annual simple interest on an investment, how much should you pay for a note…

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Q: If you pay $5,500 for a simple interest note that will be worth $6,000 in 21 months, what annual…

A: topic - percentage