If you borrow $500 for 6 months at 6% annual simple interest, how much must you repay at the end of the 6 months?PREVIOUS ANSWERSHARMATHAP 12 6.2.007.Find the future value if $7000 is invested for 5 years at 12% compounded annually. (Round your answer to the nearest cent.)Submit AnswerDETAILSDETAILSHARMATHAP12 6.2.017.What is the compound interest if $43,000 is invested for 5 years at 8% compounded continuously? (Round your answer to the nearest cent.)

Information Provided: Amount borrowed = $500 Interest rate = 6% Time = 6 months or 0.5 year…

Answered: how much must you repay at the end of…

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how much must you repay at the end of the 6 months?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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Question

If you borrow $500 for 6 months at 6% annual simple interest, how much must you repay at the end of the 6 months?
PREVIOUS ANSWERS
HARMATHAP 12 6.2.007.
Find the future value if $7000 is invested for 5 years at 12% compounded annually. (Round your answer to the nearest cent.)
Submit Answer
DETAILS
DETAILS
HARMATHAP12 6.2.017.
What is the compound interest if $43,000 is invested for 5 years at 8% compounded continuously? (Round your answer to the nearest cent.)

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