Find the APR (rounded to the nearest tenth of a percent) for the loan.Purchase a living room set for $3,100 at 12% add-on interest for 4 years. Use the editor to format your answer

Q: Determine the monthly principal and interest payment for a 15-year mortgage when the amount financed…

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Q: Quick loans will loan you $600 with the understanding that you will repay them $689 in 2 weeks what…

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Q: You have a credit card with a balance of $1,500 and APR of 15% (assume simple interest)A. What is…

A: There are 52 weeks in an year. Annual percentage rate = 15%. Therefore, weekly interest rate =0.288…

Q: Use the simple interest formula to determine the missing value.   p =$1425, r= ? t= 4 years i=…

A: Given information :P =1425;t=4 yearsi=125.40 here, let rate, r %Now, use the following formula to…

Q: Determine the effect on the balance sheet after the following transaction. You sell a product…

A: You sell a product purchased for $750 for $1,500.00  We know, Owner's Equity = Investment  -…

Q: find the interest rate a loan of 8500 at 7% made on july 23rd and due on november 30 A. 211.92 B.…

A: Total interest = PxRxT Where P= principle amount R= Rate of interest T= Time

Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a…

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Q: Callie calculates the monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate. With…

A: Given : The monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate.

Q: Calculate the simple interest due on a 58-day loan of $3400 if the interest rate is 2%. (Round your…

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Q: Use this table to find the monthly mortgage payments, when necessary. Roberto has a mortgage of…

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Q: Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the bank uses the ordinary…

A: Principal Amount = $6,500 Rate of Interest = 8.5% time = 150 days

Q: Estimate the annual percentage rate for the add on loan using the given number of payments and…

A: Given n=42 and r=5.9% We have to estimate the annual percentage rate for the add on loan by using…

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: accumulate enough money for a down payment on a house, a couple deposits $597 per month into an…

A: We will find out the required value.

Q: You take out a 50-day single-payment loan for $910 with an interest rate of 19%. Find the amount of…

A: using :- simple interest = P×R×T

Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a…

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Q: Dr. Grant borrowed money from his friend with simple interest of 12 %, find the present worth of P…

A: Future Amount (F) = P50,000 interest rate (i) =12% number of months (n)= 9 months

Q: You have $3,000 on a credit card that charges a 19% interest rate. If you want to pay off the credit…

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Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) Finance $350,000 for…

A: Let's say a person has taken a certain amount of loan and wants to repay it in equal installments.…

Q: Calculate the simple interest due on a 32-day loan of $1300 if the interest rate is 4%. (Round your…

A: Given: P=1300  dollarsT=32  daysR=4%

Q: You borrow $625 for 90 days at a simple interest rate of 4.1%. what is the interest on the loan?

A: To calculate the simple interest under the given conditions

Q: Jack Tripper signed a $9,000 note at Fleet Bank.  Fleet charges a 9.25% discount rate.  If the loan…

A: consider the equation

Q: Jolene's MasterCard statement shows an average daily balance of $680. Find the interest due if the…

A: Here, average daily balance= 680 rate=0.016

Q: mortgage, what is the total amount of interest? *

A: Here total interest paid = total payments-borrowed amount

Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below purchase a…

A: Solution by using formula for APR as follows :

Q: Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the bank uses the ordinary…

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Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a…

A: The living room set was purchased for $3,100 at 10% add-on interest for 3 years. The amount of…

Q: Suppose that you decide to buy a car for $27,635, including taxes and license fees. You saved $5000…

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Q: d) Find the amount of the monthly payment. (Do not add the cost of the points to the loan amount)…

A: (d) given  p= $145,000 rate of interest  r=20%  =0.2 time t=30 years formula for monthly downpayment…

Q: Jeffery Wei received a 7-year non-subsidized student loan of $33,000 at an annual interest rate of…

A: Since it is a non-subsidized loan, interest would accrue during the 4 years Jeffery is in college.…

Q: Ana nec a loan of Pnp120. 000.00 for 15 montns ana paia Pnp360.00 interest. What was the simple…

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Q: ats to start saving for a down payment on ccount that pays 3% annual interest, com n Carli's account…

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

Q: Divya has a 30-year mortgage for $248,000 with a 3.8% fixed annual interest rate. What is the total…

A: Basic simple interest problem of algebra. Here option (C) is correct the solution is provided below

Q: rt D: Home Depot sells a $1850 gas grill on the installment plan. The installment agreement includes…

A: The selling price of gas grill is $1850.  Installment agreement includes 20% down payment and 12…

Q: Use the simple interest formula to determine the missing value. p= ?, r= 6%, t=6 months, i $60…

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Q: Find APR (rounded to the nearest tenth of a percent) for the loan. Purchase a living room set for…

A: it is known that APR is given by APR=principle×rate×years100+additional chargesprinciple×years×100…

Q: 4. A student took out a simple interest loan for $2800 for two years at a rate of 6% to purchase a…

A: The simple interest formula is: A=P(1+rt)

Q: Your friend buys a $15,000 car. Your friend is financing the purchase with a loan at 3.6% with…

A: According to the question, The principal amount P=$15000. The rate of interest r=3.6% The time taken…

Q: Find the ending balance: $3,000 for 30 years 3.5% annual simple interest

A: Simple interest (si) is calculated as  SI = P×R×T  Where P= principal amount              R= Rate of…

Q: Use the simple interest formula to determine the missing value. p= ?, r= 6%, t= 9 months, i = $63…

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Q: Discount 1000 for 9 months and find the discount.  At 5% simple interest At 5% simple discount

A: Here P=1000, t=9 month=912=34year r=5%=0.05 simple interest. d=0.05 simple discount.

Q: Find the simple interest on a loan of $32,500 at 6.3% interest for 7 months Sources Give your answer…

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Q: Jeffery Wei received a 6-year non-subsidized student loan of $30,000 at an annual interest rate of…

A: Given problem Given that   Jeffery Wei received a 6-year non- subsidized student loan of $30,000…

Q: Jeffery Wei received a 7-year non-subsidized student loan of $32,000 at an annual interest rate of…

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Q: Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the 2 bank uses the ordinary…

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Q: Using the banker’s rule, find the simple interest on 18,000 pesos at 17 ¼% from Feb. 4, 2021 to…

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Q: Use Excel to calculate the total interest on a mortgage paid monthly given the following values:…

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Q: Find the amount of simple interest on a loan of $3,500 at 9 1/2% interest for 14 years.

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Q: Luis lent $5,300 at 3.00% p.a. on March 15, 2014. Calculate the amount of interest she would receive…

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