Kira borrowed $8000 at a rate of 7%, compounded annually. Assuming she makes no payments, how much will she owe after 7 years? Do not round any intermediate computations, and round your answer to the nearest cent.

Q: Chang borrowed $8000 at a rate of 9%, compounded quarterly. Assuming he makes no payments, how much…

A: Given,           Chang borrowed $8000 at a rate of 9%, compounded quarterly for 5 years.

Q: If you borrow $700 for 6 months at 2% annual simple interest, how much must you repay at the end of…

A: As we know that the formula of the simple interest is:   Simple interest =I=P×r×t   Where,…

Q: How much did Speedy Movers borrow for a debt that accumulated to $51,238.44 in four years? The…

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Q: Hans borrowed $8000 at a rate of 17%, compounded semiannually. Assuming he makes no payments, how…

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Q: A loan of $14400 is to be repaid in end of quarter payments of $600. How many payments are required…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: A recent college graduate moves back in with their parents and invests their entire first-year…

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Q: If you borrow $1,700 for 4 years at 5% annual simple interest, how much must you repay at the end of…

A: Given, If you borrow $1,700 for 4 years at 5% annual simple interest, how much must you repay at the…

Q: A man buys a car for $20,000. If the interest rate on his loan is 12% compounded monthly, and if he…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=500 t=36 months…

Q: Lena deposited $6000 into an account with a 11% annual interest rate, compounded pemiannually.…

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Q: If money earns 3.72% compounded quarterly, what single payment in three years would be equivalent to…

A: topic - compound interest

Q: What are the semiannual payments?

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Q: The Nelsons would like to take a cruise to Alaska in 5 years and will need $9,350. What amount…

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Q: Alice charged $800 worth of merchandise one year ago on her credit card, which has an APR of 12%…

A: It has an APR of 12% compounded monthly. She made 12 monthly payments of $20, at the end of each…

Q: If you borrow $29,000 at 8.4% annual simple interest for 11 years, how much must you repay at the…

A: use formula written below

Q: Alain Dupre wants to set up a scholarship fund for his school. The annual scholarship payment is to…

A: Given Amount=$2300 Rate of interest=3.3%

Q: John borrowed $8000 at a rate of 13%, compounded annually. Assuming he makes no payments, how much…

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Q: David borrowed $8000 at a rate of 14%, compounded quarterly. Assuming he makes no payments, how much…

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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: Omar deposited $4000 into an account with 4.2% interest, compounded annually. Assuming that no…

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Q: Greg borrowed $8000 at a rate of 17% , compounded quarterly. Assuming he makes no…

A: A=P1+rnntP is the principal amount.R is the rate of interest.t is the time.n is 4 in case of…

Q: A television set is for sale at P13, 499 in cash or in installment terms, P2,500 each month for the…

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Q: Robin wishes to accumulate a sum of $450,000 in a retirement account by the time of her retirement…

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Q: Adam Kaminski just received a signing bonus of $1,600,000. His plan is to invest this payment in a…

A: Consider the signing bonus as principal, that is P= $1,600,000. r=7% As Adam plans to establish the…

Q: Amy won a lottery that would pay her $42,000 in 2 years and $10,200 in 5 years. The lottery company…

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Q: If you borrow $600 for 18 months at 8% annual simple interest how much must you repay at the end of…

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Q: Ruth availed of a cash loan that gave her an option to pay P5,000 monthly for 1 year. The first…

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Q: If money is worth 5% compounded quarterly, find the equated time for paying a loan of P150,000.00…

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Q: Jose borrowed $8000 at a rate of 12.5%, compounded annually. Assuming he makes no payments, how much…

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Q: A man buys a motor vehicle for $50,000.  if the interest rate on the loan is 12% compounded monthly…

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Q: Jim financed the purchase of a new car. If the loan had an annual rate of 3.25% compounded annually…

A: By using formula we solve the given problem as follows :

Q: Beth has a $12 000 student loan that she needs to repay. Payments are made monthly for the next 2…

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Q: Francine currently has $45,000 in her 401k account at work, and plans to contribute $3,000 each year…

A: We need to find total amount accumulated.

Q: Andrea wishes to accumulate a retirement fund of $650,000. How much should she deposit each month…

A: given that , final amount= A= 650000 interest rate=r= 5.5%= 0.055 number of times compounded in a…

Q: John buys a stereo system for $640. He agrees to pay $32 a month for 2 years. Assuming that interest…

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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: Sophie owes Sam P75,000.00 due in one year and P225,000.00 due in 4 years. She agrees to pay…

A: The effective annual interest is calculated using the formula Effective Annual interest Rate=1+inn-1…

Q: Elysa bought a car priced at $8942 for 12% down and equal semi-annual payments for 4 years. If…

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Q: Martina borrowed $8000 at a rate of 6%, compounded quarterly. Assuming she makes no payments, how…

A: Amount = P(1+r/n×100)nt

Q: Mohan borrowed some money from Sohan at the rate of 20% compounded annually and lent it to Kavita at…

A: Let the sum borrowed by Mohan be x Now, the Amount that he will have to pay at the end of year (A) :…

Q: For her​ daughter's education, Georgina Harcourt has invested an inheritance in a fund paying 7.4​%…

A: Given: PMT=$146 Number of years = 9 Total number of months n=9 x 12 =108 Interest=7.4% annually…

Q: If a bank pays 18% compounded monthly, how much should be deposited now to have $2000 : a) 6 years…

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Q: How many months would it take you to repay a $ 5225 loan by making payments of $ 57 at the end of…

A: The formula for computing the number of years required to pay off a loan when payment is made at the…

Q: Parents wish to have $150,000 available for a child's education. If the child is now 3 years old ,…

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Q: After graduating with a master's degree, Naomi combined all of her student loans into a single loan…

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Q: Suppose you make a down payment of 20% of $27,600 and finance the rest at 1.5% compounded monthly…

A: Let  L, c and n denote the loan amount, the rate of interest per payment and the number of payments.…

Q: A man pays P 129,254  every end of six (6) months for a car bought on installment terms. If the man…

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Q: How much should you invest into an account with 3.2% interest compounded quarterly if you want to…

A: According to the question, we have the data set: Interest rate= 3.2 % = 0.032  n= 4 (amount is…

Q: Joel is considering putting a $4800 laptop purchase on his credit card, which has an interest rate…

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

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