Banks will often loan businesses large sums of money for short periods of time. If a company needs a $2000000 loan for 3 days, how much interest would it owe if interest is calculated at 12% per year, simple interest?

Q: In 1970, a Reese Peanut butter Cup candy bar cost $.25. If the rate of inflation was 3% every year,…

A: According to question given that 1970 A Reese peanut butter cup candy bar cost=$.25Rate of…

Q: Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time.…

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Q: The TACO Truck costs $60,000. If you used a straight-line depreciation and plan to keep the vehicle…

A: Here cost of the asset =  $60,000 Here, we plan to keep the vehicle for 10 years  The salvage value…

Q: A company rents an office building for $5500 per month. If they spend $49,920 to upgrade the…

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

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Q: If you want to earn 14% annual simple interest on an investment, how much should you pay for a note…

A: We Have Interest= Principal * rate * time(in years). Interest = 6200 Rate=14/100 and time= 6 months…

Q: If a memebr has the $455usd a quarter ($35 usd a week) plan, how many weeks are included in this…

A: A member has a quarter plan for = $455 USD A member has a week plan for = $35 USD Number of weeks…

Q: If you were investing money in an account and the interest rate was the same either way, would you…

A: If the same amount of money is deposited and the same rate of interest is applied then: Simple…

Q: Susie is paying $589.35 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: Consider the given question,Total mortgage value = $150,000 Monthly payment of Susie = $589.35Total…

Q: A bank loaned out $14.000, part of it at the rate of 7% per year and the rest at 17% per year. If…

A: Let the sum given at 7% of interest be x Therefore the sum given at 17% of interest = $14000-x The…

Q: If our monthly income is $1,400 and your house payment is $1,140, what fraction of your monthly…

A: Monthly income = $1,400  House payment = $1,140 Fraction of monthly income into house payment =…

Q: At a 5 % annual interest rate, a principal of $2,000 earns $ 400. How long was the principal…

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Q: You promise your niece that you will give her $1 on her first birthday and double that amount every…

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Q: Susie is paying $512.49 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: Given: Month payment=$512.49 Mortgage=$150,000

Q: A payday loan company charges a $90 fee for a $600 payday loan that will be repaid in 20 days.…

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Q: Jay and Sybil are purchasing a home. They wish to save money for five years and purchase a house…

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Q: A bank loaned out $600,000, a part of it at the rate of 12% per year and the rest at a rate of 6%…

A: Let the amount loaned at 12% be: x Let the amount loaned at 6% be: y Total amount loaned out is: $…

Q: Susie is paying 594.16 every month for her 150,000 mortgage. If this is a 30 year mortgage, how much…

A: The monthly amount Susie paying per month = 594.16Total mortgage = 150,000The time period of…

Q: A bank loaned out $120000 part of it at the rate of 8% per year and the rest at rate of 12% per…

A: topic - percentage

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

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Q: Find the simple interest on a loan of 12,500 that is borrowed at 9% for 7 months.How much would it…

A: This question related to simple interest and solution is given below.

Q: a car costs $12500 and youre offered a loan that requires $800 down and a monthly payment of 228.29…

A: Monthly payments of 228.29 for 66 months contribute to 228.29*66 = 15067.14   And 800 down payment.…

Q: A bank loaned out $12,000, part of it at the rate of 8% per year and the rest at the rate of 18% per…

A: A bank loaned out $12,000, part of it at the rate of 8% per year and the rest at the rate of 18% per…

Q: If you had the choice of 5% simple interest or 5% compound interest for a savings account, which one…

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Q: The interest rate on an $859.50 debt was 104%. For how many months was the loan outstanding if it…

A: Given: The interest rate on an $859.50 debt was 1014%. Find for how many months was the loan…

Q: If money is worth 14%, what payment on August 29 would be equal in value to a payment of $86,900 due…

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Q: A certain currency devaluates by 3 percent per year. If the initial amount is 100 units, then what…

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Q: Amanda plans to invest $20,000 part of it at a 9% interest rate and part of it in a safer fund that…

A: Amanda plans to invest $20,000 part of it at a 9% interest rate and part of it in a safer fund that…

Q: Ruth availed of a cash loan that gave her an option to pay P5,000 monthly for 1 year. The first…

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Q: How much interest will Roxanne have to pay if she borrows $2000 for 2 yr at a simple interest rate…

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Q: interest and agreed to pay it off over a 2 year period, how much would your monthly payment be?

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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: What interest will be charged on a $1200 loan for 9 months if the rate is 12%simple interest

A: In the given question we have to calculate the simple interest on $1200 loan for 9 months at the…

Q: If 100,000 php is deposited in a bank that grows 4% interest discretely, how much will it be in 5…

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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: If the accumulated amount in an account is $5,000 at the end of 3 years and the simple interest rate…

A: According to the given problem, we have

Q: the smiths brought a apartment for 75000. assuming that the value of the apartment will appreciate…

A: Current value, P = 75000Appreciation Rate, R = 4.3%Time, T = 7 yearsAmount after 7 years = P1 +…

Q: If I have $500 in my account after 4 years of investing at 2.5% per year, how much money did I start…

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Q: If you borrow 1500 dollars from a lending agent for 13 weeks and in the end you have to pay back…

A: Formula r = (1/t)(A/P - 1) r = simple interest rate = ? P = principal amount =1500 A = P+ I  = 1650…

Q: At what simple interest rate will an amount of money gain 50% of the principal in 4 years?

A: Principal = PAmount = A Time = T = 4 yearsAccording to question, Amount becomes 150% of principal…

Q: $35 USD a week) plan, how many weeks are included in this plan? How much would this be per quarter…

A: Given, A member has the $455 USD a quarter ($35 USD a week) plan, number of weeks are calculated.…

Q: Jackie has a saving account that promises to increase her balance by 1.5% per year. If she deposits…

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Q: If the simple interest on $1,000 for 10 years is $600, then what is the interest rate? The rate is…

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Q: A payday loan is made for five weeks, where the amount of interest owed per $⁢100 borrowed is $⁢20.…

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Q: With 1500.00 I opened a savings account in a bank that offered me a monthly interest rate of 0.5%.…

A: Given: P = $1500.00, r = 0.5% p.m., n = 12

Q: An account starts with $1,000, and pays 100 percent interest per year. If the interest is credited…

A: If the interest is computed and credited more frequently during the year, the value of the account…

Q: Jill has a loan of $1600 . If she is charged 2% simple interest per month, how much interest is she…

A: The formula to calculate the amount on simple interest is given below: A=P(1+rt) where, A is the…

Q: A family obtained a 1m mortgage. If the monthly payment is 38,000 for four years, how much is the…

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Q: A bank deposit paying simple interest at the rate of 8% per year grew to a sum of $1200 in 10…

A: The formula for Simple Interest is given by S.I=PRT100 where P is the principle, R is the rate and T…

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…