Q: You have agreed to pay off an $8,000 car loan with 24 monthly payments of $400 each. Use the simple…
A: Formula used: To find the interest rate in simple interest:…
Q: Find the amount of an annuity that consists of 16 quarterly payments of $300 each into an account…
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Q: Find the interest paid on a loan of $2300 for two years at a simple interest rate of 10% per…
A: Formula used: Simple interest formula: The formula for calculating the simple interest is I = Prt.…
Q: The total amount paid on a 5 year loan was $16,000. If the interest rate was 7% and compounded…
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Q: The ordinary simple interest charged after 130 days on a loan of P 10,200 is P575. Find the interest…
A: Given: P=10,200I=575R=?T=130 days
Q: The payment on a 15 year loan at 9.36% compounded weekly is $180.00. Calculate the amount of the…
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Q: Find the future value of a simple interest loan of $18,000 at 6.1% interest for 9 months Give your…
A: As we know that the simple interest on a principle P with interest rate r for t times is(t=years)…
Q: Find the amount of an annuity that consists of ten annual payments of $1000 each into an account…
A: Given: Annual payment = R = $1000 Interest rate = i = 6% = 0.06 Number of annual payment = n =10
Q: Find the refund fraction on a 48-month loan with interest of $2,803 if the loan is paid in full…
A: Refund fraction is the percentage of refund you will get when you complete the loan before the…
Q: Calculate the simple interest due on a 45-day loan of $3500 if the annual interest rate is 8%.…
A: Follow the procedure given below.
Q: Find the ending balance: $45,000 for 18 months at 4% annual compound interest
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Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) Finance $550,000…
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Q: Calculate the simple interest due on a 45-day loan of $1600 if the interest rate is 8.7%
A: P=principle=1600r=interest rate=8.7%=0.087t=time=45 day=45365 yearI=interest
Q: Consider a 30-year fixed-rate home loan of $555,500 with an interest rate of 5.75%. What is the…
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Q: Find the simple interest I of the given loan amount. (Round your answer to the nearest cent.) $460…
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Q: Consider a 30-year fixed-rate home loan of $419,500 with an interest rate of 3.625%. What is the…
A: The formula to calculate the EMI that is the equal monthly installment is: Here, P is the loan…
Q: Calculate the simple interest due on a 45-day loan of P1,600 if the interest rate is 9%
A: Concept: Here we shall use the formula for simple interest: SI=P×r×t100 Here P is the principal, r…
Q: Determine the total amount of a loan of $5400 at a simple interest rate of 2.1% for 8 years.
A: We have to find the total amount of loan at a simple interest. We know that in a simple interest,…
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: Find the savings plan balance after 1515 months with an APR of 55% and monthly payments of…
A: We have to use the formula Where P=payment= 250250 n= number of months=1515 i= interest rate=…
Q: Leslie Salazar borrowed P280,000 at a simple interest rate of 9% for one year. Compute for the…
A: Leslie Salazar borrowed P280,000 at a simple interest rate of 9% for one year.
Q: Calculate the amount of money that was loaned at 5.00% per annum for 2 years if the simple interest…
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Q: Find the simple interest on P6275 at 10% for 6 months.
A: GIVEN: P = $6275, R = 10%, T = 6 months
Q: Find the ending balance: $1,500 for 22 years at 9% annual compound interest
A: Compound interest is calculate as: A = P(1+r)t A = final amountP = principal amountr = interest…
Q: Find the amount of an annuity that consists of 24 monthly payments of $500 each into an account that…
A: Monthly payment= R= $500 Number of payments = n= 24 Interest = r=i/n= 8%/12 = 0.08/12
Q: (a) What is the rebate fraction of a 36 month loan paid off after the 13th payment?
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: What is the monthly payment on a 30 year, $627,000 mortgage, with an interest rate of 4%, compounded…
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Q: Find the monthly payment on a 30-year fixed mortgage loan of $108,525 if the interest rate is 6 3/4%
A: Formula used to calculate the monthly payment of mortgage loan is given below: M=PR1-1+R-N Where…
Q: Find the amount of an annuity due that consists of 13 monthly payments of $150,provided that the…
A: Given R=$150 n=13r =6%=0.06 To find the amount of an annuity due
Q: USE SIMPLE INTEREST TO FIND THE ENDING BALANCE $1, 300 AT 5 % FOR 6 years
A: Find ending balance
Q: Find the principal for a loan that has earned interest of $5500 with an annual rate of 10% for 5…
A:
Q: Find the simple interest of $1,000 borrowed at 6% for 4 years.
A: Given: The principal amount = $1000. The rate of interest = 6%. The time =4 years.
Q: Find the monthly payment for the loan. Finance $500,000 for an apartment complex with a 12.3% 10…
A: Please rate and feel free to ask any query about any part of the question.
Q: Find the simple interest on a $4,520 principal, deposited for 6 years at a rate of 2.25%. Round to…
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Q: Find the interest on the following loan. $1900 at 7.5% for 9 months The interest is $___
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Q: What is the monthly payment on a 25-year loan of $62,700 if the annual interest rate is 5% ?
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Q: How much interest is owed on a 9-month, $5550 loan borrowed at 7.25% simple interest?
A: Given the Principal amount P= $5550 Rate of interest =7.25% =0.0725 Time, t=9 months = 912=0.75…
Q: Mr. Allen purchased an annuity that pays 19% compouned annually. If the yearly payment is $3,500,…
A: With the help of compound interest formula we can solve this problem easily- The formula for…
Q: You will have a 350,000 mortgage for 30 years at the rate of 2.39%. What will your monthly payment…
A: We will find out the required monthly payment.
Q: Find the interest and the amount to pay back on the following simple interest loans $875 at 8.7% for…
A: We have given principal amount , rate of interest and time period and we have to find out interest…
Q: Find the simple interest on a loan of $13,500 at 8.2% interest for 8 months
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Q: Calculate the amount of simple interest you would pay on a loan of $20,000 at a rate of 5.6% per…
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Q: Calculate the simple interest due on a 52 day loan of $1500 if the interest rate is 9% round to the…
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Q: Marie bought a laboratory equipment with P25 000 down payment plus 18 months monthly payment of P2…
A: Given that, the down payment of the equipment is P25,000, monthly instalment is P2500, duration is…
Q: Find the annual simple interest rate of a loan, where $600 is borrowed and where $666 is repaid at…
A: Given data: Principle = $600 Amount = $666 Time period = 15 months To find: Annual simple interest…
Q: Find the simple interest on the loan of $2500 for 2 years at 5%.
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Q: Find the amount due on a loan of $6500 at 8% simple interest at the end of 4 vear
A: Given P=$6500Rate= 8%Time = 4 yearsWe know that I=PTR100
Q: Find the monthly payment for the loan. Finance $450000 for an apartment complex with a 8.5% 30 year…
A: Given Amount =$45000 years=30 interest=8.5% since we have the monthly payment for…
Q: Find the simple interest on a loan of P65,000 if the loan is given at a rate of 20% and is due in 3…
A: Since you have posted multiple questions and we can answer one question. So, answering the first…
Q: Find the amount of simple interest on a loan of $3,500 at 9 1/2% interest for 14 years.
A:
Find the simple interest on a loan of $15,500 at 8.2% interest for 10 months
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