In 2016 Donald Trump admitted he received a small loan of a million dollars from his father if he paid back the loan over 32 years at a fixed rate of 3% how much does he pay each month

Q: Mark deposits $1000 each month in a retirement plan paying 7% compounded monthly. How much will he…

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Q: Find the balance on an account if you invest $ 1,758 at 3.4% for 22 years using simple interest.

A: Given:P The amount invested is $1758 at interest rate 3.4% for 22 years. To find : The balance in…

Q: Rachel purchased a car for $23,900; she paid 20% of the cost as a down payment and financed the…

A: The compound interest formula for an initial amount of P at a rate of r%, for t years compounded n…

Q: Determine the value of an account after 10 years if a principal amount of 11000 was deposited with…

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Q: Calculate the amount of simple interest earned. $6,000 at 6% for 8 years

A: The formula to calculate simple interest is = (principal) *(rate) *(time) /100

Q: Mary purchased 1,700 shares of a certain stock for $23,750 (including commissions). He sold the…

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Q: mount must be set aside now to generate payments of $40,000 at the beginning of each year for the…

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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: Kathy Crag, the owner of The Fabric Corner, lent $15,000 to Dani Flynn to open her own card shop.…

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Q: Consider a Bond Mutual fund that gains 3% interest compounded Monthly. If you deposited $66,000 how…

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Q: Find the accumulated amount at the end of 7 months on a $2400 bank deposit paying simple interest at…

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Q: Kunio puts $3,300.00 into savings bonds that pay a simple interest rate of 2.5%. How much money will…

A: Simple interest algebra

Q: Calculate the simple interest due on a 66-day loan of $1500 if the interest rate is 3%. (Round your…

A: Calculate the simple interest due on a 66-day loan of $1500 if the interest rate is 3%. (Round your…

Q: Find the amount owed at the end of 3 years if $600 is loaned at a rate 3% compounded monthly. (Round…

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Q: Jungkook purchased a new car under these terms: 800,000 php downpayment and 17,500 php each month…

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Q: Calculate the amount of simple interest earned. $1,000 at 8% for 6 years

A: IP

Q: Niagara Vineyards borrowed $75,000 to update their bottling equipment. They agreed to make payments…

A: Need to find how long company have to make payments

Q: Find the accumulated amount at the end of 8 months on a $1200 bank deposit paying simple interest at…

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Q: Suppose you buy a home and finance $285,000 at $2,293.17 per month for 30 years. What is the amount…

A: Given that you buy a home and finance $ 285,000 at $ 2293.17 per month for 30 years. We have to find…

Q: You have $2,500 on a credit card that charges a 14% interest rate. If you want to pay off the credit…

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Q: As part of her retirement planning, Mrs. Barth purchases an annuity that pays  17.5% compounded…

A: The quarterly payment is R=$3500 Quarterly interest rate is i=0.1754=0.04375 Number of…

Q: USE SIMPLE INTEREST TO FIND THE ENDING BALANCE   $1, 300 AT 5 % FOR 6 years

A: Find ending balance

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 5% interest…

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Q: Milena deposited ​$9,000 in a certificate of deposit​ (CD) account that pays 3​% annual​ interest…

A: Given query is to find the amount accumulated in the account after 5 years.

Q: A loan of P95,000 is borrowed for 240 days at a simple interest rate of 12.3 percent per year. What…

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Q: Ali set up a savings plan with TD Canada Trust whereby he deposits $250 at the end of each quarter…

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Q: Devin set up a fund that would pay his family $3,500 at the beginning of every month, in perpetuity.…

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Q: On a girl's 10th birthday, her father started to deposit P5,000 quarterly at the end of each term in…

A: We can solve this using future value formula

Q: Janet’s payments on her $12,500 car are $420 a month for 3 years. Assuming that interest is…

A: Janet’s payments on her $12,500 car are $420 a month for 3 years. P = $12,500, t = 3 years & n =…

Q: The Betzes have leased an auto for 2 years at $400/month. If the money is worth 7%/year compounded…

A: find explanation below

Q: Calculate the amount of simple interest earned. $1,000 at 8% for 4 years

A: Given: Principal amount = P = $1000 Rate = R = 8% Time = T = 4 years.

Q: Find the accumulated amount at the end of 8 months on a $2100 bank deposit paying simple interest at…

A: The solution for the above question is shown below.

Q: Mrs. Reyes plans to build a a two - door apartment on her vacant lot. She applied for a loan of…

A: Given Principal amount = 1,750,000 php time = 4 years rate of interest= 10% number of times the…

Q: You have $2,000 on a credit card that charges a 23% interest rate. If you want to pay off the credit…

A: Given: Credit card amount due (PV) = $2000 Annual interest rate (r) = 23% Number of months (t) = 5…

Q: What is the simple interest paid on $1600 at 3 % for 4 years? Round your answer to the nearest cent.

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Q: Mr. and Mrs. Maglalang decide to set aside ₱ 500,000 today and place it on a bank savings account…

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Q: Calculate the amount of simple interest earned. $1,000 at 15% for 20 years

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Q: Suppose you buy a home and finance $275,000 at $2,233.17 per month for 30 years. What is the amount…

A: According to question, Cost of home = $275,000, Cost of finance = $2,233.17 per month, Time period…

Q: A collector mae a $10,000 down payment for a classic car and agreed to make 18 additional quarterly…

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Q: Suppose you deposit $500 at the end of each quarter into an account that pays 3% annual…

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Q: A credit union entered a lease contract valued at $5600. The contract provides for payments at the…

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Q: You have $3,000 on a credit card that charges a 13% interest rate. If you want to pay off the credit…

A: Given data Loan amount = $3000 Interest rate(r) = 13% = 0.13 Period = 5 years => t = 5 × 12 = 60…

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

A: Here we will use the recurring deposit formula for calculating the compound interest. Sum of the…

Q: If your monthly payments are $124, how much will you have in your retirement fund after 40 years? $…

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Q: You have $2,000 on a credit card that charges a 22% interest rate. If you want to pay off the credit…

A: Given:

Q: Hannah is buying a property with $45000 down payment and monthly payment of $2100 made at the…

A: Hannah is buying a property with $45000 down payment and monthly payment of $2100 made at the…

Q: Suppose a person borrowed $2000 and repaid the lender $2150 after 10 months. What simple interest…

A: Initial amount =$2000 Final amount = $2150 Intrest Paid = $150

Q: As a new engineer, you wanted to earn and availed an investment insurance. Every month you are going…

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Q: Find the amount of money that you will have in the bank at the end of 15 years if you deposit $2,500…

A: Solution: