A person lent P5000.00 to B for 2 years and P3000.00 to C for 4 years on simple interest at the same rate of interest and received P2200.00 in all from both of them as interest. What is the rate on interest per annum? * 5% 7% Option 1 Option 2 10% O Option 3 Option 4

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A: To find the total interest

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A: The interest that is calculated on the principal and the interest accumulated from the previous…

Q: A person lent P5000.00 to B for 2 years and P3000.00 to C for 4 years on simple interest at the same…

A: according to our guidelines we can answer only one question and rest can be reposted.

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Q: Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 40…

A: Below is the solution:-

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A: P=$4300, R=5 & T=6 months=612 year=12 year  ∵1 year=12 months Now simple interest is,…

Q: nearest

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Q: Suppose that you borrow​$10,000 for three years at 6​% toward the purchase of a car. Find the…

A: Given query is to find the monthly installment an totay interest.

Q: Suppose you take out a loan for 160 days in the amount of $12,000 at 7% ordinary interest. After 40…

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Q: Calculate the amount of simple interest earned. $1,000 at 6% for 6 years

A: Ans#-  Given , p = $1000                         Rate r = 6%                         Time = 6 years…

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Q: Jason loans $2000 to his sister, Rebecca, for 2 years at 3% simple interest. (a) How much interest…

A:

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A: Please see the answer in next step

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Q: 1) Calculate the simple interest earned. Round to the nearest cent. P = $9030, r = 6.75%, t = 8…

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Q: Suppose that you decide to borrow $25,000 for a new car. You can select one of the following loans,…

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A: consider the equation

Q: Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 40…

A: givenAmount(A)=$14000R=7%n1=40 days=40365 yearn2=60 days=60365 yearn3=160-40-60=60days=60365 year

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Q: (a) Find the interest that will be owed after 4 months. (b) Assuming Susan doesn't make any…

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A: image is attached

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A: Introduction: The formula of a loan of monthly payment A is given by, A=Pr12r12+1nr12+1n-1

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A: Now, the principal paid off after 1 year using the CUMPRINC function in Excel : rate = 3%/12  nper =…

Q: Suppose that you borrow $20,000 for four years at 6% toward the purchase of a car. Find the monthly…

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $5000, r = 6%, t = 1 year

A: Consider the given values, P = $5000, r = 6%, t = 1 year The simple interest formula is defined as,…

Q: Ruqaiya borrows $1929 at a simple-interest rate of 6% for 6 months. Then the Discount will be: O…

A: Consider the given information:

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Q: Suppose that you decide to purchase a home and you secure a 30-year, $260,000 loan at an annual…

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $2600, r = 8%, t = 1 year

A: