Ken wants a $1000 TV/sound system. He can't afford that amount so he uses his credit card with 20% annual interest. If he only pays interest each month and that credit card debt about how much will he pay in interest in 4 years?

Q: An amount of money was invested at simple interest amounts to ₱815 in 3 years and ₱854 in 4 years.…

A: here on using the formula Amount = principle + simple interest ,we will get the invested money

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

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Q: The TACO Truck costs $60,000. If you used a straight-line depreciation and plan to keep the vehicle…

A: Here cost of the asset =  $60,000 Here, we plan to keep the vehicle for 10 years  The salvage value…

Q: Jessica has half of her investments in stock paying an 11% dividend and the other half in a stock…

A: Let A be the investment with 11% intrest B be the investment with 13% intrest. Total intrest amount…

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

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Q: Jill invests $3,000 into a savings account. In five years, she hopes to generate $500 interest.…

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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: Joe took out a car loan for $12,000. He paid $4,800 in interest at a rate of8% per year. How many…

A: Considering it as simple interest, Number of years= 4800/{12000×0.08}= 5 years

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: Monthly, Juan's net earnings are $8,000, and expenses are $7,500. If Juan saves the difference, how…

A: Monthly details:  Juan's net earnings =  $8,000    Juan's net expenses = $7,500 difference = $8,000…

Q: Fred invested $25,000 at 4% simple interest. What will be the total value of the account after five…

A: In this question we have to find the Accumulated value after 5 years investmnet of 25000 now  .…

Q: Suppose you spend $12 a week on snacks. If you donate half that amount to a charity, how much will…

A: Given that, you spend $12 a week on snacks.

Q: If you earn $1200 per month and you expect your earnings to increase by 10% per year, how much do…

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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: A BANK LOANED OUT $11000, part of it at tge rate of 8% per year and the rest at 18% per year. if the…

A: In this question we have to find the amount which is loaned out at 8%.

Q: Instead of paying $20 per month, you decide to increase it to $50 per month.  How much will you owe…

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Q: Darren invests $750 in an account that pays 2.5% simple interest for 40 weeks. How much will his…

A: We can make it easier for you

Q: You inherited a house worth $650,000 today. If the value increases by 4% each year, what would the…

A: given: we inherited a house worth $650,000 today. If the value increases by 4% each year, we have to…

Q: Sanjay borrowed $7000 at a simple interest rate of 4% per year. After a certain number of years he…

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Q: Alan borrowed $30,000 from Janet due in five years at 10% monthly. Two years after the debt is…

A: Present value = future value/(1+r/m)^(m*n) Given  Future value =$30000 r=10%  n=5 years m=12

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

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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: Teresa received $80 for her birthday.  At what interest rate would she have to invest the money to…

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

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Q: Teresa received $80 for her birthday. At what interest rate would she have to invest the money to…

A: We know that, for a Simple interest SI= P·R·T100where P = Principal,R = Rate of Interest,T = Time…

Q: Professor Beatrice Kuhl invests $7,500 at 4.5% interest.  How much money will she have at the end of…

A: the given principal value P = $ 7,500 interest rate r = 4.5% for time t = 6 years

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

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Q: Pablito has $1 and his grandma says she will give him 100% interest on that $1 every year if he…

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Q: Margo borrows $500, agreeing to pay it back with 8% annual interest after 211 days. How much…

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Q: Bianca invested $2,260 for 280 days at a simple interest rate of 3.50% p.a. How much more or less…

A: Given information  P=$2,260 N=280 days R=3.50% pa R=3.50% pa=3.50365% per day=0.009589% per day The…

Q: Jamil wants to renovate his Studio in 6 years. He estimates the cost to be $15474. How much should…

A: Given, Future value FV=15474$ Rate of interest r=8%=0.08 Number of times per year m=1 time t=6 years…

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

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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: In planning her​ retirement, Liza deposits some money at 2.5​%​interest, with twice as much…

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Q: Banks will often loan businesses large sums of money for short periods of time. If a company needs a…

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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: 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: At age 24, Brandie decides to put $150 a month into an account that has a 6% APR until she retires…

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: 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: 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…

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: Sanjay borrowed $7000 at a simple interest rate of 3% per year. After a certain number of years he…

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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: Quan had $20,000 to invest. He put part of it in a term deposit paying 4.5% per annum and the…

A: In the question it is asked to calculate different principles that Quan invested at rate 4.5% per…

Q: Margo borrows $1100, agreeing to pay it back with 3% annual interest after 16 months. How much…

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Q: In planning her​ retirement, Liza deposits some money at 1.5​% ​interest, with twice as much…

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Q: If $520 is invested for one year at 13% simple interest, how much interest is earned? The simple…

A: The objective of the question is determine the simple interest.