Mr. Johnson borrowed $8000 for 4 years to make home improvements. If he repaid a total of $10,320, at what interest rate did he borrow the money? (Hint: subtract the principal from the total to get the interest paid)

Q: Jaime’s refrigerator loan statement said that he would pay $1,026 as interest after 4 years at an…

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Q: Sammy wants to buy a new stereo priced at $ 442 he enters into an agreement to pay $22 a month for…

A: According to the agreement Sammy pays $22 for 24 months, Therefore the amount she paid is 22×24=528…

Q: Lee Sutherlin is a self-employed electrical consultant. He estimates his annual net earnings at…

A: Given that gross earning is $38,300 To find the withholding for the social security, apply the rates…

Q: A store manager obtained a loan of $35,000, at  6 3 8%  interest, for 14 months to purchase…

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Q: d. A reservation costs $25 and passengers who cannot be accommodated will receive $25 refund. How…

A: The refund will make in the case when the number of passengers who show up is greater than 5 as…

Q: Priscilla invested $20,000 at a rate of 12% over 5 years. Much to her surprise, her investment paid…

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Q: On a balance of $25,000 the finance Company charged simple interest of $4000 for two years. Finally…

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Q: On July 5, 2019, Robert borrows RM900 and agrees to repay the loan in 100 days at 10% per annum…

A: Use the formula of simple interest to determine the interest earned on the principal amount.…

Q: a note with a face value of 9000 was discounted at 5% , if the discount was $185, find the lenght if…

A: In bank discount rate we generally use 360 days for one year.

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: A man wishes to save money by setting aside 1 cent the first day, 2 cents the second day, 4 cents…

A: Given: A man wishes to save money by setting aside 1 cent on first day, 2 cents on second day, 4…

Q: Bill Casler bought a $1000, 9-month certificate of deposit (CD) that would earn 8% annual simple…

A:

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: Amy invested $500 per month in a 401k that earned 6% annual return for 40 years. Hank invested…

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Q: Joshua’s computer loan statement said that he would pay $1,244.34 in simple interest for a 3-year…

A: Given that, Joshua's computer lean statement said h would pay $1244.34 in simple interest for a 3…

Q: small building can be reroofed for P300,000 (aluminum) or P175,000 (shingles). The estimated lives…

A: For aluminium Depricaitation cost = 300000/50 = P6000 For  shingles Depricaitation cost = 175000/15…

Q: karen and wayne need to buy a refrigerator because theirs just broke. unfortunately, their savings…

A:

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

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Q: borrows $6,500, at  6 1 2%  interest, for 150 days. If the bank uses the ordinary interest method,…

A:

Q: You have $2,500 on a credit card that charges a 22% interest rate. If you want to pay off the credit…

A: Given, P=$2500r=22%=22%12=0.01834t=3 yearsn=3×12=36 months

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

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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: Bill Casler bought a $3000, 9-month certificate of deposit (CD) that would earn 8% annual simple…

A: Amount that Bill-casier deposited to earn interest means principal money(P)=$3000 Rate of…

Q: Bill Casler bought a $8000, 9-month certificate of deposit (CD) that would earn 8.4% annual simple…

A:

Q: Lainee would like to purchase a new car for $45,000.  How much will his monthly payments be if he…

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Q: A farmer loans from a loan firm an amount of P100,000 with a rate of simple interest of 20% but the…

A: We have given that  Amount borrowed = 100000 Rate = 20%

Q: ristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3% interest for 15…

A: Given that  Tristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3%…

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: Rubbermaid Plastics Corp. invested $10,000,000 in manufacturing equipment for producing small…

A:

Q: Alex would like to purchase a new car for $20,000.  How much will his monthly payments be if he took…

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Q: Valeria bought a motorcycle for which she will pay $ 163.75 monthly for six years, with a financing…

A:

Q: I signed a 10,000.00 simple discount promissory note at a bank. The discount rate was 6% ordinary…

A: The amount of proceeds is calculated as follows. Proceeds=Face Value - Discount   Obtain the…

Q: Vic bought a new plasma TV for ​$2400. He made a down payment of ​$200 and then financed the balance…

A:

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

A: See the answer below

Q: You just received a new Visa credit card with a $5,000 limit and a 19% interest rate. You then…

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

A:

Q: A friend lends you $490, which you agree to repay with 7% interest. How much will you have to repay?…

A: Solution

Q: While shopping for a car loan, you get the following offers: Solid Savings & Loan is willing to loan…

A: The formula to calculate the regular payment is R=iPN1-iN+1-NY where P is the principal, i is the…

Q: If you paid $47 to a loan company for the use of $1120 for 191 days, what annual rate of interest…

A:

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: Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they…

A: Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they…

Q: At the beginning of the year Anna invested a portion of her $90, 000 revenue from the sale of her…

A: The amount invested for 8% annual simple interest be x. The interest would be, I=r·P=0.08x. The…

Q: A laptop can be purchased for RO 400 for 50 RO down with a payment of 12 RO per month for 36 months.…

A: A laptop can be purchased for RO 400 for 50 RO down payment and 12 RO per month for 36 months

Q: peter paid 50,000 in 2.5 years he barrowed 40,00. What is the simple interest?

A:

Q: Ticha is interested in a new Chevy Cruze and is given the option to lease or buy. If she buys, with…

A: (a) Obtain the amount of money Ticha will pay in total is as follows. Lease total=Amount…

Q: f Mary received a 10% raise and is now making $17,600 a year, what was her salary before the raise?

A: Mary received a 10% raise and is now making $17,600 a year. To find what was her salary before the…

Q: 4. What is the net earnings of an employee if his gross earning is P25,000 and his total deduction…

A: according to our guidelines we can answer only three subparts, or first question and rest can be…

Q: Tanya purchased a $3,123 set of golf clubs on a nine-month layaway plan and had to pay a monthly…

A: Here we calculate the sum of monthly payment then calculate layaway plan.

Q: 2. Mr. Ablan borrowed P25, 000 to start a market stall, at 14% simple interest. If he paid P10,000…

A: Given that Mr.Ablan borrows P25,000 at 14%S.I. and pays back P10,000 after every six months. (a)…