Leona Jefferson purchased a home and obtained a 25-year loan of $437,750 at an annual interest rate of 8.5%. Find the amount of interest paid on the loan over the 25years. (Round your answer to the nearest cent.)

Q: Lauren loaned $9,625 to Jacob at a simple interest rate of 4.47% p.a. for 3 years and 11 months.…

A: NOTE: Refresh your page if you can't see any equations. . here we have  P=9625 r=4.47%=0.0447 t=3…

Q: Corey would like to purchase a new car for $28,000.  How much will his monthly payments be if he…

A: Given that: Principal amount of loan, P=$28000TIme period of loan = 5 yearsRate of interest, r=5.75%

Q: You have agreed to pay off an $8,000 car loan with 24 monthly payments of $400 each. Use the simple…

A: Formula used: To find the interest rate in simple interest:…

Q: You take out a loan of $59,000 for a term of two years at 11% interest compounded annually. What is…

A:

Q: A farmer purchased 275 acres of land for $4,500/acre. He paid 25% down and obtained a loan for the…

A: Find the annual payment from the given conditions

Q: Jason acquired a $10,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of…

A: Given problem:- Jason acquired a $10,000.00, 91-day, Province of Alberta T-bill on its date of issue…

Q: you need a home loan of $85,000 after your down payment. how much will your monthly house payment be…

A:

Q: Ben and Jane have been approved for a $320,000 loan, 30-year mortgage with an APR of 4.75%. What…

A:

Q: What was Yvette's monthly payment?

A: Balance after 36th payment = 6521.43 Balance after 37th payment = 6151.8 For monthly payments…

Q: Scott took out a 72 month loan for $35.000 to purchase a new boat. If Scott paid $8,925 in simple…

A:

Q: Find the monthly payment for the loan. Used car financing for $600,000 for 25 months at 11.75%.…

A: here we have to find the monthly payment for the loan. PV (present value of car) = $600,000 n(number…

Q: Consider a 30-year fixed-rate home loan of $555,500 with an interest rate of 5.75%. What is the…

A:

Q: Find the interest refund on a 33-month loan with interest of $2,859 if the loan is paid in full with…

A: Given, Total interest is $2859. Total time of loan is 33 months, loan is paid in full with 11 months…

Q: Toni Torres wants to save $1,200 in the next two years to use as a down payment on a new car. If her…

A:

Q: Gina buys her first house for $250,000 at 5% APR with a 30-year mortgage.a. Find her monthly…

A: a) It is given that, Gina buys house for $250000 at 5% APR with a 30-year mortgage. Here Principal…

Q: You can get a car loan with a term of three years at an APR of 5%. If you can afford a monthly…

A: Given, Loan term = 3 years = 3×12 = 36 months  APR = 5 %  Monthly payment = $ 600  We have to find…

Q: Robert borrowed a certain amount of money for 666 days at an annual simple interest rate of 5.3%. If…

A: Step: - 1 Here, A is maturity value, P is principal, R= interest rate, T=time Step:- 2 P = $2890

Q: Lindsay borrowed a certain amount of money for 4 years at an annual simple interest rate of 5.2%. If…

A: Given:   Lindsay borrowed a certain amount of money for 4 years at an annual simple interest rate of…

Q: Melissa Hernandez received an 8-year subsidized student loan of $29,000 at an annual interest rate…

A: It is given that Melissa received an 8-year loan of $29,000 at an annual interest rate of 4.5%.

Q: Jeffery Wei received a 7-year non-subsidized student loan of $30,000 at an annual interest rate of…

A: Solution: The objective is to find Jeffery's monthly loan payments for this loan after he graduates…

Q: Lupé made a down payment of $6000 toward the purchase of a new car. To pay the balance of the…

A:

Q: A car dealer will sell you a used car for $6,498 with $798 down and payments of $162.51 per month…

A:

Q: Kiara is expected to settle a loan by paying $8,500. What amount should she pay if she decides to…

A: The given data is: To settle a loan by paying P=$8,500 Interest rate r=3.50% ( compounded monthly)…

Q: Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in…

A:

Q: Imelda took a loan of Php950,000 from a financial institution to purchase a TV set. If the the…

A: Formula of compound interest: A=P1+rnnt where, A= Final amount P= Initial amount r= rate of interest…

Q: find the total amount due and the amount of simple interest earned. round to the nearest cent…

A:

Q: Shelby received a 15 year loan of $250,000 to purchase a house. the loan was 5.10% compounded…

A: Loan Amortization Formula A=Pi(1+i)n(1+i)n-1 where A is payment amount per period P is loan amount i…

Q: Find the simple interest rate of the principal of Php. 15,000 with simple interest of Php. 30,000…

A: Given Principal (P)= Php15000 Simple interest (SI)= Php30000 Time (T) = 5 years

Q: Consider a 30-year fixed-rate home loan of $515,500 with an interest rate of 5.75%. What is the…

A: Given: P=  $515,500 ,           r=5.75% =0.0575 ,                        t=30 year

Q: a man buys a car for 34,000 if the interest rate on the loan is 12% compund monthly and if he wants…

A: Given that  a man buys a car for 34,000 if the interest rate on the loan is 12% compund monthly and…

Q: Cameron is expected to settle a loan by paying $7,500. What amount should he pay if he decides to…

A: Here we find loan settlement amount.

Q: Tom and Linda have been approved for an $185,000, 15-year mortgage with an APR of 5.35%. What will…

A: Since the given term is APR then we have to compute simple interest. The formula for simple interest…

Q: Colleen has an offer to buy a car with a sticker price of $25,900 by paying $460 a month for 72…

A:

Q: Mr. Sun borrowed $15,600 for 54 months at simple interest to pay for a new swimming pool. If Mr. Sun…

A: Given, P=$15600 T=54/12=4.5yrs Rate=R

Q: Find the APR to the nearest half percent for the following situation. Amount financed: $2000 Finance…

A:

Q: Marcel Thiessen purchased a home for $202,900 and obtained a 15-year, fixed-rate mortgage at 8%…

A: Given: The price of the home is $202,900. The loan period (t) is 15 years. The annual interest (r)…

Q: What is her monthly payment on a 2010 Honda Civic priced at $4500 with a 15% interest rate for a 10…

A: formula for EMI is as below :

Q: Consider a 30-year fixed-rate home loan of $525,500 with an interest rate of 3.75%. What is the…

A: We have to find the interest of given amount. The solution is following.

Q: The rebate offer is $3100, and you can obtain a car loan at your local bank for the balance at 4.6…

A:

Q: Your total payment on a 7 year loan, which charged 6% annual simple interesr , amounted to $60,860.…

A: Given information -  Time period of the loan = 7 year. Rate of simple interest = 6% Total amount…

Q: You can get a car loan with a term of three years at an APR of 4%. If you can afford a monthly…

A:

Q: Patty took out a payday loan for $700 due in 2 weeks that charged a $140 fee. What is the periodic…

A: We can find the annual  rate of interest as follows

Q: Violet is planning to make 30 semiannual loan payments of 1300 dollars each. If her bank charges…

A: How much principal is in the 22nd payment?

Q: Rebecca took a demand loan of $4000 for university supplies on September 1st at a rate of 5%…

A: Given: P(amount of loan)=$4000, r(interest rate)=5%, t(time period)=first September to first…

Q: Jeffery Wei received a 7-year non-subsidized student loan of $32,000 at an annual interest rate of…

A:

Q: Consider a 30-year fixed-rate home loan of $415,500 with an interest rate of 3.375%. What is the…

A: Given that  Fixed rate P=$415500 Rate of interest R=3.375% Time T=30 years let total amount after 30…

Q: Melissa Hernandez received an 8-year subsidized student loan of $28,000 at an annual interest rate…

A:

Q: Jane Windsor financed a $5,900 ski boat with a 12% add-on interest installment loan for 12 months.…

A: Ski boat cost=$ 5900Down payment need to pay on purchase=10100x5900=$590∴Remaining principal…

Q: Jennifer received a loan at 5% p.a. simple interest for 8 months. If he was charged an interest of…

A:

Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.