A student borrows $1500 for 1 year at 4% simple interest. What is the interest after 1 year?

Q: Melanie invests $13,000 at 13% simple interest for 1 year. How much is in the account at the end of…

A: Substitute 13000 for P, 13% for r and 1 year for t in the simple interest formula I=Prt and…

Q: Find the balance on an account if you invest $ 1,758 at 3.4% for 22 years using simple interest.

A: Given:P The amount invested is $1758 at interest rate 3.4% for 22 years. To find : The balance in…

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: How much would you need to deposit in an account each month in order to have $40,000 in the account…

A: For Cash Flow at period 1=C1, rate of return = r and number of periods = n, the Present Value…

Q: How much money does Nora have for her car down-payment if she invests $750 at a monthly interest…

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Q: A math teacher won a lottery that pays $1,000 per month for the next 20 years. But, he prefers to…

A: To find out the amount that the teacher will accept now.

Q: You deposit $175 in an account that pays 4% interest compounded quarterly. How much will you have in…

A: The formula for the compound interest is given by A=P1+rnnt, where A is the final amount, P is the…

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

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: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

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Q: Find the simple interest owed if $200 is borrowed at 4.9% for 7 years.

A: The amount borrowed is $200. The rate of interest is 4.9%. The time period for which the amount is…

Q: How much will you have in the account after 10 years? What is the Effec rate?

A:

Q: Ali borrowed $6000 from a lender that charged simple interest at an annual rate of 7%. When Ali paid…

A: Given that, Amount P= 6000 Annual interest Rate,  R= 7% Interes, S.I = 2520 We've to find time n.

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: Let the monthly payment be P . It is provided that future value, A=10000 . The rate of interest, r…

Q: Francine currently has $70,000 in her 401k account at work, and plans to contribute $6,000 each year…

A:

Q: You buy a car for$12000 on simple interest at 6% for 5 years. You will be financing the car plus…

A: You buy a car for$12000 on simple interest at 6% for 5 years. You will be financing the car plus…

Q: If you make $400 in simple interest on an investment at 8% for 5 years, what is the amount of the…

A:

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

A: The solution is given below

Q: Find the simple interest owed if $470 is borrowed at 4.1% for 5 years

A:

Q: A payday loan is made for four weeks, where the amount of interest owed per $⁢100 borrowed is $10.…

A: Principal = $800 Time period for the loan = 4 weeks Amount of interest owed per$100 is $10   Total…

Q: Pablito has $1 and his grandma says she will give him 100% interest on that $1 every year if he…

A:

Q: A man borrowed 24000 from two money lenders. For one loan he paid 15% annum and for the other 18%…

A: Let x be the amound borrowed on 15% and (24000-x) at 18% Given taht total interest paid is Rs 4050

Q: A bond was purchased on January 1, 2016 for $750. If its value increases by 8.2 % every year, how…

A:

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: We know that Simple interest = PTR/100 Here Time is 7 years and Rate is 6%  Amount is 20000$. Amount…

Q: Rob has 100,000. Invested into a fund that adds 5% per year.  How much will he have in 20 years…

A: Given: Initial amount=100,000 Increasing amount=5% of ininitial amount Time = 20 years

Q: Find the simple interest $1977 at 6 6% for 40 weekS

A: Given : $1977 at 6.6% for 40 weeks.

Q: A friend lends you $860, which you agree to repay with 2% simple interest. How much will you have to…

A: Other

Q: oaquin pawns his favorite watch for a loan of​ $120. After 30​ days, he buys his watch back for​…

A:

Q: You buy a house for $280,000 and pay $25,000 down.  The rest is financed for 30 years at 6.5%…

A: Here, Value of House is $280,000 Down Payment is $25,000 Loan Amount (PV) is: Interest Rate (Rate)…

Q: How much would you need to deposit in an account each month in order to have $50,000 in the account…

A:

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: Given: The required amount in future is $20,000. The interest rate is 2%. The time duration is 8…

Q: A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in…

A: First, always look for what you are asked to find. Here it is how much you must put into a CD.…

Q: Find the simple interest owed if $680 is borrowed at 3.1% for 5 years.

A: The amount borrowed is $680. The rate of interest is 3.1%. The period for which the amount is…

Q: A loan company charges $50 interest for a one month loan of $1000. Find the annual interest rate…

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Q: You borrow $710 from your brother and agree to pay back $770 in 3 months. What simple interest rate…

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

A:

Q: You deposit $500 each month into an account earning 3% interest compounded monthly. How much will…

A:

Q: John buys a stereo system for $640. He agrees to pay $32 a month for 2 years. Assuming that interest…

A:

Q: How much would you need to deposit in an account each month in order to have $40,000 in the account…

A:

Q: If you paid $54 to a loan company for the use of $1,040 for 42 days, what annual rate of interest…

A: We will use the Simple Interest Formula to calculate the annual rate of interest. Simple Interest…

Q: Johnny borrowed 15,000 from a lending company with annual simple interest rate of 9.5%. If hhe had…

A: The formula for the amount of simple interest after t years is: A=P+Prt100 Here, P is the principal…

Q: Graduation is in 5 years and you want to have $850 available for a trip. If your bank is offering a…

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Q: Mike buys a ring for his fiancee by paying $30 a month for one year. If the interest rate is 10% per…

A: It is given that monthly payment is $30 for one year and the interest rate is 10% per year. To find…

Q: If Tina wants to earn 10% annual simple interest on an investment, how much should she invest to…

A: Topic:- simple interest

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: nd the savings plan balance after 3 years with an APR of 4% and monthly deposits of $400

A: Given that: Monthly deposit = $400 Time = 3 years APR = 4% To determine the balance after 3 years.

Q: You borrow $4,000 for one year from a friend at an interest rate of 1.5% per month instead of taking…

A:

Q: Gwen has saved $3,500 and wants to deposit it into a savings that earns 4% annual interest for 10…

A: Given P = initial investment = $ 3500 r = interest rate = 4% = 0.04 t = time period = 10 years