Answer the following question. You borrow $3000 from a friend and promise to pay back $3270 in 1 years. What simple interest rate will you pay? O 9.9% 18% 9% 0.9%

Q: If an amount of $1821 is borrowed at a simple- interest rate of 7% for 4 years. Then the simple-…

A: The principal amount, P = $1821 Simple interest rate, r = 7% = 0.07 Time, t = 4 years To evaluate :…

Q: You want to buy a 9 year bond with a maturity value of $6,000, and you wish to get a return of 5.5%…

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Q: (d) Gabrielle needs $200,000 in eight years. She has set up a sinking fund that earns 5% compounded…

A: Find your answer below

Q: If Tanya's husband were to die, she and her children could live on $60,400 per year. Tanya makes…

A: Total income earned= 33,100+21,500 =$35600

Q: ) What simple interest rate will convert a $200 investment into $250 in one year ? a)O 6% b) O 10% O…

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Q: Question 14 Esther pays $355 per month for 6 years for a car She made a down payment of $2.500 If…

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Q: What monthly interest rate equals a quarterly interest rate of 15%? Give your answer as a decimal…

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Q: Farah borrows $1588 for 5 years at a simple-interest rate of 6%. Then the interest will be: O…

A: We have to calculate the value of simple interest.

Q: What monthly interest rate equals a quarterly interest rate of 4%? Give your answer as a decimal…

A: First we have to know that number of times intrest applied per year in monthly and quarterly intrest…

Q: Nabras borrows OMR 4800 for 10 months at a simple interest rate of 8% per year. Determine the…

A: Given data: The amount is P= OMR 4800. The interest is R=8%. Time is T=10 months.

Q: The activity on Denise Helling's Master Card account for one billing period is shown below. Find the…

A: Consider the provided question, To calculate average daily balance, we need to determine total…

Q: The price of a new car is $16,000. Assume an individual makes a down payment of 25% toward the…

A: Given that price of new car = $ 16000 After 25% down payment, amount of car remaining, P = $ 16000 -…

Q: Answer the following questions if you deposited 1,000 dollars into a bank account earning 6 percent…

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Q: A couple purchasing a home budget $1500 per month for their loan payment. If they have $18,000…

A: Part (a):   According to the given information:   The monthly payment = $1500   Loan period = 25…

Q: If an amount of $1735 is borrowed at a simple-interest rate of 4% for 6 years. Then the…

A: As we know that the expression for the simple interest is:   Simple Interest=PRT   Where,…

Q: 2. Emma availed of a cash loan that gave her an option to pay P10,000 monthly for 1 year. The first…

A: We will find out the required value.

Q: Ann and Tom want to establish a fund for their​ grandson's college education. What lump sum must…

A:

Q: What is the present value of $2,000 paid at the end of each of the next 85 years if the interest…

A: n =85 rate = i  = 5% annuity value = 2000

Q: How much is P1,200 worth at the end of 1 year if the interest rate of 5.5% is compounded quarterly?…

A:

Q: If John wants to retire with $10,000 per month, how much principal is necessary to generate this…

A: Given interest rate is 10% and expected monthly income after retirement is $10,000 This monthly…

Q: 15) Francis took a $31,500 truck loan at an annual rate of 8.4% compounded monthly for 72 months.…

A: L=31500 r=8.4%=0.084 n=12 for a monthly compound t=72 months .............option B (for a…

Q: A furniture set is purchased with a downpayment of 75,000 php, and the balance at 10,000 php a month…

A: Let's find.

Q: Find the present value of $52500 at a simple interest rate of 7 1/2% in 8 months.

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Q: Find the present value of 9,000 at a simple interest rate of 7% in 18 years?

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Q: Find the effective rate of Interest that is equivalent to an 6% rate compounded monthly. 6.09 % O…

A: Answer is mentioned below

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: If an amount of $1521 is borrowed at a simple-interest rate of 9% for 6 years. Then the…

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

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Q: In order to purchase a home, a family borrows $45,000 at an annual interest rate of 12%, to be paid…

A: In order to purchase a home a family borrows $45,000 at an annual interest rate of 12% to be paid…

Q: 1. Faith availed of a cash loan from Home Credit that gave her an option to pay 10,000 monthly for 1…

A: Solution: Interest rate per month (r) = (12% / 12) = 1% Monthly payment (P) = 10,000 n = 12 Monthly…

Q: A couple purchasing a home budget $2,000 per month for their loan payment. If they have $29,000…

A: (a) Given: A couple purchasing a home budget $2000 per month for their loan payment. If they have…

Q: Find the effective rate of Interest that is equivalent to an 7% rate compounded monthly. O 7.20 % O…

A:

Q: What is the balance after 2 years on a CD with an initial investment of $2,600.00 and a 3.2%…

A: Given problem Given that   We have to find the balance after 2 years on a CD with an initial…

Q: If you buy a 26 week T-bill with a maturity value of $1800 that sells for $1725.50, what is the…

A: We have to find annual simple interest rate when maturity value $1800 that sells for $1725.50 for 26…

Q: You want to buy a 5 year bond with a maturity value of $7,000, and you wish to get a return of 5.5%…

A:

Q: The total amount paid on a 35 year loan was $98,000. If the interest rate was 4.1% and compounded…

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Q: Suppose you buy a home and finance $170,000 at $1247.40 per month for 30 years. a) What is the…

A: Given  Home price  is P= $170,000 Monthly charge is PMT = $1247.40 The number of years is t= 30…

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: Answer the following question. You borrow $3000 from a friend and promise to pay back $5460 in 4…

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Q: Jennifer's pension plan is an annuity with a guaranteed return of 5% per year (compounded monthly).…

A:

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:

Q: You want to buy a 5 year bond with a maturity value of $8,000, and you wish to get a return of 5.5%…

A:

Q: 1. Jack buys a furniture set costing $23,845 and chose to finance the money through the store for 18…

A: The formula to calculate the equal monthly installments of a loan is given by the expression: EMI =…

Q: What nominal interest rate per year is equivalent to an effective 18% per year compounded…

A: Given that, effective rate per year 18% and period is 1year, interest is compounded semi-annually(2…

Q: A couple purchasing a home budget $1,400 per month for their loan payment. If they have $17,000…

A: (a) Given: A couple purchasing a home budget $1,400 per month for their loan payment. If they have…

Q: Use the simple interest formula to determine the missing value. Round dollar amounts to the nearest…

A: We need to determine the principal amount, p. The simple interest is calculated using the formula:…

Q: (b)Given the current interest rate of 6 percent compounded annually, find the present value of…

A: Let rate of interest is r%    Present value is equal to P   Then Amount = A after T years is,     A…

Q: Meg's pension plan is an annuity with a guaranteed return of 7% per year (compounded quarterly). She…

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Q: Use the Zero Coupon Bond information above to answer this question. A zero coupon bond with a face…

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