If $600 is borrowed and the interest after 24 months is $120, what is the annual interest rate for a simple interest loan?

Q: A loan of​ $2000 was made at​ 5.5% for four months. Find the​ loan's future value.

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Q: How much interest is deducted in advance from a loan of P18,000.00 for one year and 6 months if the…

A: A loan of P18,000.00 for one year and 6 months the discount rate is 9%.

Q: suppose you pay back $455 on a $425 loan. You had the loan for 120 days. what is your simple annual…

A: Formula for simple interest:A=P1+rtwhere A= Total amount         P=initial amount         r=…

Q: Griffin is purchasing a home!  He has agreed to 5.25% interest over 30 years; his mortgage is…

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Q: An item is regularly priced at $30. Yolanda bought it at a discount of 20 % off the regular price.…

A: Here the 100% proce of an item is $30.Yolanda bought it for 20% off. So, 100% – 20% = 80%.

Q: Suppose that you decide to purchase a home and you secure a 30-year, $335,000 loan at an annual…

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Q: A mobile phone cost OMR 280. What is the cost of the mobile after a discount of 15%?

A: We have given mobile phone cost=OMR 280  Discount =15%=15/100=0.15  Discount( in OMR)=0.15×280=42 So…

Q: Mary Lavor plans to save money at her bank for use in December. She will deposit $30 a month,…

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Q: You want to buy a home.  You can borrow 80% of the purchase price.  Assuming that you can make a…

A: Given that    You want to buy a home.  You can borrow 80% of the purchase price.  Assuming that you…

Q: You want to buy a Car for $28,000 dollars. The bank gives you the option of 3% interest over 4 years…

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Q: A student graduate from college with 51,000 in student loans with a 6.8% and you simple interest…

A: Simple interest problem....

Q: What is the simple interest rate on a $1950 investment paying $513.83 interest in 8.5 years

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Q: Mr. Reyes borrowed P125,000 at 5% rate of interest for 4 years. What percent greater is the amount…

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Q: Suppose that you borrow $17,000 for four years at 6 ​%  toward the purchase of a car. Use PMT equals…

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Q: Ali borrowed $6000 from a lender that charged simple interest at an annual rate of 7%. When Ali paid…

A: Given that, Amount P= 6000 Annual interest Rate,  R= 7% Interes, S.I = 2520 We've to find time n.

Q: A new car is purchased for 21100 dollars. The value of the car depreciates at 10.5% per year. What…

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Q: for a sum of $8000 to double in 12 years and 9 months, what must be the rate of interest compounded…

A: The solution is given in the next step.

Q: You buy a car for$12000 on simple interest at 6% for 5 years. You will be financing the car plus…

A: You buy a car for$12000 on simple interest at 6% for 5 years. You will be financing the car plus…

Q: A new car is purchased for 20000 dollars. The value of the car depreciates at 12.5% per year. What…

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Q: Suppose that you borrow $30,000 for four years at 8% for the purchase of a car. Find the monthly…

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Q: Find time (years) if the interest is ₱2300, the principal is ₱9900 and the rate is 5%

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Q: how much interest would you have to pay for a 20-month loan of P50,200.50 if the simple interest…

A: We will find out the required value.

Q: A Jacket priced at 50% is placed on sale at a discount of 20%. If the discounted price is then…

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Q: You are now 20 years of age and decide to save $100 at the end of each month until you are 65. If…

A: When we invest a fixed sum at a fixed interval of time, it is called an annuity. The formula to…

Q: A state lotto has a prize that pays $900 each week for 15 years. find the total value of the…

A: A state lotto has a prize that pays $900 each week for 15 years. find the total value of the…

Q: A bank offers 0.25% annual simple interest for a deposit. If you deposit ₱500,000.00, how much…

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Q: A $100.00 check that is cashed at a rate of $7.00, at what rate did you cash it?

A: Given that: Fee paid to cash a $100 = $7

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Q: A new car is purchased for 16200 dollars. The value of the car depreciates at 14.25% per year. What…

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Q: A consumer buys a used car for $16000 with monthly payments of $300, an annual interest rate of…

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Q: month

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Q: A loan worth $4500 collects simple interest each year for 12 years. At the end of that time, a total…

A: The interest is the extra amount paid on the initial principal amount of the loan if no other…

Q: If an account earns an effective rate of 4%, what will the real rate of interest be if: a.…

A: Here, nominal rate is 4% or 0.04.

Q: You are borrowing $500 at 10% per year interest for 2 years. If this is a simple interest loan, find…

A: Given that the amount borrowed is $500 and rate of interest is 10% for 2 years and the loan is a…

Q: The finance charge that a student pays on his credit card is 18.4% APR (annual percentage rate).…

A: As per given by the question, there are average balance for the year is $5000 with 18.4%ARP. Now,…

Q: A hotel charges an initial check-in fee of $30, plus $40 for each day the room is booked. How many…

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Q: What rate will it effect, if the principal of P12,555 earns interest of P5,500 in 2 years and 8…

A: topic - interest calculation

Q: A man deposit 90,000 in a saving bank for 5 months. If the interest amount to 1,875, find the rate…

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Q: You invest $4000 in an account that pays simple interest of 4​% for 10 years. The amount of money​…

A: We will use basic knowledge of simple interest formula and knowledge of basic arithmetic to solve…

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A: Given  cost of refrigerator = $1600 or down payment = $ 100 + 24 payments of $80 We have to find the…

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: A friend asks to borrow $500 and agrees to repay it in 60 days with 4% interest. How much interest…

A: Given Principal=$500Time=60 daysRate of interst=4%

Q: Graduation is in 5 years and you want to have $850 available for a trip. If your bank is offering a…

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Q: The monthly payment p on a mortgage varies directly with the amount borrowed B. If the monthly…

A: From the question, The monthly payment P on mortgage varies directly with the amount borrowed B. P∝B…

Q: Find the interest rate for a principal of $6570 and charged $30105 in interest for 12 years.

A: Given problem:- Find the interest rate for a principal of $6570 and charged $30105 in interest for…

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

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Q: Suppose that you decide to purchase a home and you secure a 30-year, $260,000 loan at an annual…

A: Given problem:- Suppose that you decide to purchase a home and you secure a 30-year, $260,000 loan…

Q: A firm buys 12 file cabinets at $140 each, with payment in full due in 90 days. How much must the…

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Q: A one-year membership to the gym costs $362. When signing up, members pay $54 for the first month,…

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