Jamie wants a new smart/TV sound system that cost $1,250. He does not have that much in cash to purchase it, so he uses a credit card with 18% annual interest. He puts $250 down, but he only pays the interest each month on that credit card debt. About how much will he pay in interest over 4 years?

Q: Jontell needs surgery on her foot. Assume that she has insurance and the surgery cost $5,000 and she…

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Q: Margo borrows $2000, agreeing to pay it back with 2% annual interest after 8 months. How much…

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Q: Michael wants to buy some new exercise equipment for his home gym for ​$156,000 financed at an…

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Q: A Investment of P20,000 was made with a rate of 12% annually. How many years will he pay an amount…

A: Since you have posted multiple questions and we can answer one question. So, answered first…

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

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Q: Brittany invested $2,890 for 232 days at a simple interest rate of 2.50% p.a. How much more or less…

A: Solved below

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

A: We need to find payment in interest over 4 years.

Q: 4. Puck is planning to buy a new Harley in 2 years. He is able to save $475 each month in an account…

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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: How much money does Nora have for her car down-payment if she invests $750 at a monthly interest…

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Q: The Habers purchase a $6500 living room set and take out a two-year loan for the entire amount at…

A: given  principal P=$6500 interest rate i=26% i=2612 =2.1666% =0.021667 time t=2 years number of…

Q: You are saving for a dream vacation that will cost $5,000.  How many years will you have to wait…

A: We need to calculate the time taken for the amount to become 5000 $

Q: Taylor plans to borrow $4,500 from the bank to purchase a used vehicle. If he borrows the money at…

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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: Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and the other…

A: We will use: If P dollars is invested at a yearly rate of interest r per year, compounded m times…

Q: Carolyn will receive a 5% increase in pay this year and a 6% increase next year. What is the percent…

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Q: Doing a quick calculation, I found that a sum of $10,000 in 1993 had the same buying power as…

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Q: The major Airlineis planning to purchase new airplanes. It wants to borrow $800 million by issuing…

A: Given: Total moneys to borrow by issuing bondsP=$800 million T=1 quarter taking 2% per quarter Rate…

Q: At age 35 you start saving for retirement. If your investment plan pays an APR of 6% and you want to…

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Q: The major Airline is planning to purchase new airplanes. It wants to borrow $800 million by issuing…

A: Given Airline wants to borrow $800 million by issuing bonds. The bonds are for a 10-years period…

Q: Francine currently has $70,000 in her 401k account at work, and plans to contribute $6,000 each year…

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Q: Kachina Caron invested $1800 in a simple interest account and earned $36 in 3 months, what is the…

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Q: Ken wants a $1000 TV/sound system. He can't afford that amount so he uses his credit card with 20%…

A: First of all, consider the SI formula for the calculation of the interest monthly. Principal amount…

Q: On a balance of $25,000 the finance company charged simple interest of $4,000 for 2 years. Find the…

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Q: Ben wants to purchase a new car in 3 years and expects the car to cost $30,000. His bank offers a…

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Q: Graduation is 3 years away and you want to have $1300 available for a trip. If your bank is offering…

A: Given,           Amount, A = $1300,            Rate, r=2.2% =0.022           Time, t =3

Q: It cost $200,000 to put a kid through college.  How much money would you have to deposit monthly…

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Q: Amanda plans to invest $20,000 part of it at a 9% interest rate and part of it in a safer fund that…

A: Amanda plans to invest $20,000 part of it at a 9% interest rate and part of it in a safer fund that…

Q: A friend lends you $900, which you agree to repay with 3% interest. How much will you have to repay?…

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Q: You purchase a new car for $19,500. If you borrow $19,500 for 5 years with an interest rate of 5%…

A: Given P=$19500 r=5%=0.05 t=5 years

Q: a.) How long will it take for P800 to earn P240, if it is invested at 6.5% simple interest?

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Q: 2. Simone bought her house for $150,000 in 2000 and sold it for $725,000 in 2020. What are the total…

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Q: If the rate of interest in Example 2 was 6% instead of 1.2%, how much will the account have after 24…

A: Principal Investment (P) =$1000 Rate of interest (R) = 6% per annum = 612% per month=12% per month…

Q: Sierra plans to retire at age 63, and estimates that $69,600 a year in retirement for 22 years will…

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Q: Your paycheck each week is $500.00. If you want to save $2000.00 in one year, how much should you…

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Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How many years will it…

A: Formula: Simple interest                    SI=PTR100            Where SI- Simple interest…

Q: Wanda took out a payday loan with an effective interest rate of 19,300%. If she had $460 to invest…

A: Use the formula Interest=Principal×Rate×Time100 to calculate the interest.

Q: Lucy deposits $8000 into an account that pays simple interest at a rate of 3% per year. How much…

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Q: If you want to earn 15% annual simple interest on an investment how much should you pay for a note…

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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: rest rate of

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

Q: Craig decides to purchase a property that has been valued at $560,000. He has $90,000 available as a…

A: According to the given information, The total value of property = $560000 Amount of deposit = $90000…

Q: Ken wants a $1000 TV/sound system. He can't afford that amount, so he uses a credit card with 20%…

A: Here, P = 1000, r = 0.20 and t = 4. The interest for each month can be calculated as That means, he…

Q: With 1500.00 I opened a savings account in a bank that offered me a monthly interest rate of 0.5%.…

A: Given: P = $1500.00, r = 0.5% p.m., n = 12

Q: Ryan bought a $255,000.00 house, paying 10% down, and financing the rest at 7% interest for 15…

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Q: If you borrow $800 for 6 months at 6% annual simple interest, how much must you repay at the end of…

A: Simple Interest Formula: A = P 1+r·t where A is the final amount. P is the initial amount. r is the…

Q: Jill has a loan of $1600 . If she is charged 2% simple interest per month, how much interest is she…

A: The formula to calculate the amount on simple interest is given below: A=P(1+rt) where, A is the…

Q: A man invested 50,000 in an investment entity that pays 5 3/8 % simple interest for 3 years and 7…

A: