Juan purchases an annuity for 4140 dollars that will make 17 annual payments, the first to come in one year. If the effective rate of interest is 8.6 percent, how much is each annual payment?

Q: Graduation is 5 years away and you want to have $600 available for a trip. If your bank is offering…

A: Now,      Total amount at Simple Interest :A=PR×T100+1P=Initial amount,R=Rate of InterestT=Time.

Q: Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time.…

A:

Q: A trader gives a 5% discount for cash payments. What cash discount will he give on a bill of…

A: The expression: "p% of q" is same as p100×q.

Q: Rocco borrowed a total of $5000 from two student loans. One loan charged 3% simple interest and the…

A:

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

A:

Q: Five years after buying their first home, Scott and Mia's mortgage came up for renewal. Interest…

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Q: Mr. Jackson borrowed money from his bank and on his life insurance to start a business. His interest…

A:

Q: You borrowed $120,000 for a house and will have to pay $1,090 a month for 15 years. True or False:…

A: We can say it true or false with reason as below.

Q: If you want to earn 14% annual simple interest on an investment, how much should you pay for a note…

A: We Have Interest= Principal * rate * time(in years). Interest = 6200 Rate=14/100 and time= 6 months…

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

A:

Q: If you pay your friend 15$ each month for 20 months to repay a loan, what is the total cost of the…

A: Explanation of the answer is as follows

Q: Assume that her total winnings are $ 700000, that the utility bonds will pay 14 percent per year,…

A: Given, Total winnings = $700,000 The utility bonds pay = 14% per year The savings account pay = 6%…

Q: In 2016, Donald Trump admitted he received a small loan of 1 million dollars from his father. If he…

A: Given, Principle = $ 10,00,000 time period T P = 32 years                              =32×12…

Q: You decide to deposit $290 each month into the retirement fund, and retire when you can afford to…

A: Introduction: One of the fundamental mathematical operations is division, which involves breaking a…

Q: A math teacher won a lottery that pays $1,000 per month for the next 20 years. But, he prefers to…

A: To find out the amount that the teacher will accept now.

Q: Dean is planning to purchase a new Nissan Altima which costs $26,865.  He has saved up $3,200 to put…

A:

Q: A bank loaned out $14.000, part of it at the rate of 7% per year and the rest at 17% per year. If…

A: Let the sum given at 7% of interest be x Therefore the sum given at 17% of interest = $14000-x The…

Q: Morgan loaned $3,100 to Rolf at a simple interest rate of 0.65% per month. What was the  term of the…

A:

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

A:

Q: rate

A:

Q: ) You would like to take a housing loan with amount equal to JD 110,000, the bank annual rate on…

A:

Q: A bank loaned out $600,000, a part of it at the rate of 12% per year and the rest at a rate of 6%…

A: Let the amount loaned at 12% be: x Let the amount loaned at 6% be: y Total amount loaned out is: $…

Q: Graduation is 5 years away and you want to have $600 available for a trip. If your bank is offering…

A: Simple Interest over time is given as:A= P0 (1+rt)A= Amount is the end amount i.e. principal plus…

Q: A bank loaned out $12,000, part of it at the rate of 8% per year and the rest at the rate of 18% per…

A: A bank loaned out $12,000, part of it at the rate of 8% per year and the rest at the rate of 18% per…

Q: Donna borrowed $10, 500 at a simple interest rate of 4% for 3 years to buy her new car.  How much…

A: Given: Donna borrowed $10,500 at a simple interest rate of 4% for 3 years to buy her new car.  How…

Q: Francisco borrows $870 from his parents and agrees to pay them back the same amount each month…

A:

Q: Mr. Jackson borrowed money from his bank and on his life insurance to start a business. His interest…

A: .as per our norms we are allowed to solve one question at a time.  Kindly repost the remaining…

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

A:

Q: A man bought his girlfriend a new necklace for $259. Instead of paying cash, he paid $19 down,…

A: Given,       the cost price of the necklace is $259       the discount given on the necklace is $19

Q: A man borrowed 24000 from two money lenders. For one loan he paid 15% annum and for the other 18%…

A: Let x be the amound borrowed on 15% and (24000-x) at 18% Given taht total interest paid is Rs 4050

Q: Janina purchased a laptop priced at Php25000. She put Php4500 as downpayment and made equal monthly…

A: Given That, Janina Purchased a laptop priced at Php 25000. She put Php 4500 as a down payment and…

Q: Adriel just got hired for a new job and will make $65, 000 in his first year. Adriel was told that…

A:

Q: Jenny was planning a trip to the United Arab Emirates. Before going, she did some research and…

A: Given that,

Q: Gilly Bates invested $45000 in a 6% annual interest account.  How many years, to the nearest…

A: See the answer below

Q: Miguel deposits ₱135,500 in a savings account that pay 13% interest converted semi-annually. If he…

A:

Q: A man repays a loan of $3250 by paying $ 20 in the first month and then increases the payment by $15…

A: Let the loan is cleared in n months . Clearly, the amount form an A.P with first term is 20 and the…

Q: A state lotto has a prize that pays $1,400 each week for 15 years. Find the total value of the…

A:

Q: The cost of a particular private school inclues a one-time initiation fee of $2,000, plus annual…

A: It is given that one-time initiation fee is $2,000 and annual tuition fee is $10,000.The initiation…

Q: Zach invested in a term deposit that paid 4% per annum and in a municipal bond that paid 6% per…

A: Given: Zach invested in a term deposit that paid 4% per annum and in a municipal bond that paid 6%…

Q: if a loan's annual simple discount rate is 4.34%, how many years would it take for the debt to…

A: Given discount rate dR=4.34%=0.0434. Formula for given problem is M=P1-dRT…

Q: A car dealer will sell you the $16,150 car of your dreams for $3,290 down and payments of $338.97…

A: Let the APR (annual interest rate ) be r . r is determined in the following steps

Q: Susie is paying $577.02 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: The formula used to calculate the EMI (monthly instalment) for a loan is: EMI = P×r×1+rn1+rn-1 Here:…

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: $35 USD a week) plan, how many weeks are included in this plan? How much would this be per quarter…

A: Given, A member has the $455 USD a quarter ($35 USD a week) plan, number of weeks are calculated.…

Q: Carmen put a $270 watch on layaway by making a 12% down payment and agreeing to pay $18 a week. How…

A: The question mentioned that the payment is divided into a down payment of 12% and $18 per week…

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: Alex Montague needs $6500 to finish his basement. Find the face value of a simple discount note that…

A: Alex Montague needs $6500 to finish his basement. Given Time T=200 days=200365year Discount rate…

Q: A new furniture set costs $2500. If you make a down payment of $500 and finance the rest at a rate…

A:

Q: A family obtained a 1m mortgage. If the monthly payment is 38,000 for four years, how much is the…

A:

Q: Vic bought a new plasma TV for $1800. He made a down payment of ​$500 and then financed the balance…

A: Given,           Vic bought a new plasma TV for $1800. He made a down payment of ​$500 and then…