Huck borrows $3500 from his parents and has agreed to pay back the loan in 2 years. How much money will he have to pay back if they are charging him 3% simple interest? $3713.15 $3605.00 $3932.60 $3710.00 Olivia borrows $4500 at a 3.2% interest rate compounded monthly. What will be the total cost of the loan if she plans on paying off the loan with a lump sum payment at the end of 5 years? $5267.58 $5220.00 $4560.32 O $5279.67

Q: Brent Pickett borrowed ​$5000 from his brother Dave. He agreed to repay the money at the end of 2…

A:

Q: Jason is going to purchase a piece of property. He can purchase the property for $88,000 cash or he…

A: Given: Plan 1: The property is purchased for $88,000 cash.            Plan 2: The property is…

Q: Alex invests 500 dollars compounded daily for 3 years. If he has 600 dollars at the end, what was…

A: Given problem is :   Alex invests 500 dollars compounded daily for 3 years. If he has 600 dollars…

Q: John got $5000  from his grandmother to pay her tuition fee.He invested this amount at a 10% rate of…

A:

Q: After several years of working, Katy has saved $125,000. If she invests that $125,000 in a savings…

A: Katy has saved money $ 125,000        Invested Money at interest = 4 % per year        Time  =…

Q: Rocio invests $130.00 a month for 9 years into an account earning 10% compounded monthly. After 9…

A: We are entitled to solve only 1 question at a time so I am providing you the same. Kindly repost…

Q: Jamie plan to make payments of $9000 into a account on the last day of this and every year until his…

A: Consider the given information.

Q: You deposit $5,000 in a savings account that earns 6% simple interest per year. How many years will…

A:

Q: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

A: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

Q: A bank offers a CD that pays a simple interest rate of 4.0​%. How much must you put in this CD now…

A: Use the formula for total amount in case of simple intrest.

Q: Monique invested $46,900 in a mutual fund at 4% compounded annually. After 4 years, the interest…

A: Here we have to find out the value after 4 and additional 7 years

Q: Alice charged $800 worth of merchandise one year ago on her credit card, which has an APR of 12%…

A: It has an APR of 12% compounded monthly. She made 12 monthly payments of $20, at the end of each…

Q: Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly…

A:

Q: Lydia invests $1000 in an account that pays 5.25% compounded daily. Gabrielle invests the same…

A:

Q: Bill baxer has $24000 to invest for a year. He can lend it to his sister who agreed to pay 10%…

A: Solution is given below:

Q: Edgar accumulated $7,000 in credit card debt. If the interest rate is 30% per year, and he does not…

A:

Q: sam deposits 150 in a savings account and earns 6% compounded monthly will she have enough savings…

A: Follow the steps.

Q: If P2, 200 is invested at an annual interest rate of 4 % and compounded quarterly , find her balance…

A: Let P=Principle amount      r = Annual rate of interest(in %)      t =  Time( in years)If interest…

Q: Sarah makes $3000 contributions at the end of each half-year to a retirement account for 8 years.…

A:

Q: A recent high school graduate received $600 in gifts of cash from friends and relatives. In…

A: Here given is The student has a total principal amount, P=$600+$250+$300+$1500=$2650 Interest rate…

Q: Edgar accumulated $6,000 in credit card debt. If the interest rate is 20% per year, and he does not…

A: Given:  P = 6000  r = 20% = 20/100 = 0.2   t = 3

Q: . Find the size of the payments if money earns 3% compounding quarterly.

A: Given: Helen has borrowed $4000, and agreed to pay it back in two equal payments to be made in 6…

Q: As part of their financial planning, Janice Garcia's grandparents made monetary gifts to each of…

A: Given information Future Value is $5,000 and rate is r=9% compounded monthly. t=21 months=1.75 years…

Q: Alex expects to graduate in 3.5 years and hopes to buy a new car then. He will need a 20% down…

A:

Q: Find the amount Erica owes at the end of 2 years if $6000 is loaned to her at a rate of 4%…

A:

Q: Suzanne opens a line of credit at a local bank, and immediately borrows 1510 dollars. 5 months…

A:

Q: Adam Kaminski just received a signing bonus of $1,600,000. His plan is to invest this payment in a…

A: Consider the signing bonus as principal, that is P= $1,600,000. r=7% As Adam plans to establish the…

Q: Damon deposited a total of $550 in two different bank accounts. He deposited $350 into Account I…

A:

Q: Jamie wants a new smart/TV sound system that cost $1,250. He does not have that much in cash to…

A:

Q: A recent high school graduate received ​$600 in gifts of cash from friends and relatives. In​…

A: We will find how much money he will be getting after 36 months as following .

Q: Laura saves ​$27 at the end of each week and deposits the money in an account paying 9%…

A:

Q: A recent high school graduate received $900 in gifts of cash from friends and relatives. In…

A:

Q: Glory deposited the sum of $50000 in a bank account after 5 months she made another deposit of…

A: The solution are as follows

Q: Julieta and Eric are purchasing a home. They wish to save money for 10 years and purchase a house…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of…

A: From the given information, the principal investment is P=$4000, interest rate r=0.045, and n=1 and…

Q: A couple buys a new bedroom furniture set for 16,000 pesos and 10 years later sells it for 8,000…

A: We have to find the depereciated value after 14 years.

Q: Mr. Charles, a rich businessman, divided his wealth of $170 million between his two sons, Jason and…

A:

Q: When Gustavo and Serrana bought their home, they had a 5.2% loan with monthly payments of $870.60…

A:

Q: rest rate of

A: Given, Ms. Drake invests $1000 at a simple interest rate of 8.5% for 2 years. The interest during…

Q: Sophie owes Sam P75,000.00 due in one year and P225,000.00 due in 4 years. She agrees to pay…

A: The effective annual interest is calculated using the formula Effective Annual interest Rate=1+inn-1…

Q: Nicole deposited $4,400 into a savings account earning 6% interest compounded quarterly. If she…

A:

Q: sanji spends 850 per month on cigarettes. if he stops smoking and invest the same amount in a plan…

A:

Q: If you invest $6,000 in an account that pays 15 percent simple interest per year, how long before…

A: Given - Principal = $6000 Rate= 15% Amount = 2* principal

Q: Your local bank has a saving account that pays interest of 8% semiannually. You place 2600 in the…

A: We will find out the required value.

Q: Andrea invests $400.00 in an account that pays 4% annual interest. How much will there be in the…

A:

Q: Noman would like to have $50,000 in 16 years to give to his son to help pay for his university…

A: As per the given condition the person wants to make his money goes up to $50000 in 16 years, if the…

Q: Rikki Blair borrowed $6000 from her daughter Lynette. She repaid the $6000 at the end of 2 years. If…

A: We wiil use formula for compound interest .

Q: Dave won a photography contest and received a $1475 cash prize , will he earn more interest in 1…

A: Dave won a photography contest and received a $1475 cash prize To determine the how much more…

Q: Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded annually. At the…

A: Here, given that Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded…