On February 1, 2020, Love borrowed P400,000 for additional working capital from Prime Lending at 8% interest, payable in 6 months. Find the simple interest.

Q: Find the interest earned: $11,500 for 3.5 years at 7.25% annual simple interest

A: SOLUTION-

Q: The Jones want to save $78,000.00 in 2 years for a down payment on a house. If they make monthly…

A: Solve for monthly payment

Q: 4.- Acme Annuities recently offered an annuity that pays 7.8% compounded monthly. What equal monthly…

A: Given data,  Interest rate = 7.8% = (7.8/12)% monthly  => Interest rate = 0.0052 monthly Final…

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

A: Given:              Money Invested (Principal)P: $48,000                                   Interest…

Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

Q: Andre takes out a student loan for his first year of civil engineering. The loan agreement states…

A: Given query is to find the loan amount.

Q: Question 14 Esther pays $355 per month for 6 years for a car She made a down payment of $2.500 If…

A:

Q: Use the sinking fund formula shown to the right to determine the monthly payment needed to…

A:

Q: Eugene began to save for his retirement at age 32, and for 10 years he put $ 275 per month into an…

A:

Q: Question #1 : Suppose you own a house worth $200,000. You presently owe $125,000 on this house, and…

A: As this is a multiple type question, according to the Bartleby Answering Rule, only 1st question is…

Q: c) How long will it take for a sum of money lent at 5.70% simple interest become double of itself?…

A:

Q: ​E-Loan, an online lending​ service, recently offered 48​-month auto loans at 4.8% compounded…

A: Given that,         Periodic Payments PMT = $496        Rate of Interest per period,…

Q: The major Airline is planning to purchase new airplanes. It wants to borrow $800 million by issuing…

A: The information given for the first question is: Principal Amount = $800 million Time = 10 years…

Q: A P2000 loan was originally made at 8% simple interest for 6years. At the end of this period the…

A: Given that:                  Principal amount, P=P2000Simple interest rate, r=8%Time period, t=6…

Q: A new employee charged $2960 on his credit card to relocate for his first job. After noticing that…

A:

Q: Marcus receives an inheritance of ​$11,000. He decides to invest this money in a 19​-year…

A: Consider the following formula.Compound Amount=P1+itnt, where P is the principal amount, i is the…

Q: Cara needs​ $9,000 in11 years. What amount can she deposit at the end of each quarter at 6​%…

A:

Q: Ask someone borrowing from a five-six (Bumbay) money lender. How much will be charged if you want to…

A: Here the borrowed amount is 5,000.00 which is payable in one-year. We have to find interest rate per…

Q: On August 8, 1981, American Savings offered an insured tax-free account paying 23.24% compounded…

A:

Q: 5. Adrian wants to have $15 000 in 3 years to start a mechanic shop. He plans to save the money by…

A: Here, the deposits will be same every semi annual year, so it is an annuity. The future value of…

Q: 5. Andy plans to have a fixed amount from his paycheck directly deposited into an account that pays…

A: Present value = R× future value/ {1-(1+R) -n } Where, R= rate per month n= number of month

Q: Question 14 of 14 Borrowing to Start a Business Morgan, a budding entrepreneur, was excited that her…

A: According to our company guidelines we are supposed to answer only 3 sub parts since you have asked…

Q: How much money could you withdraw each quarter of a year for 4 years if you deposited $50,000 into…

A: To Find: How much money we could withdra each quarter if the account pays 4% interest compound…

Q: How much could you save for retirement if you chose to invest the money you spend on Starbucks…

A: Cost of 1 cup of coffee is $4.35. Therefore, the total cost of coffee = $4.35×50=$217.5. This is the…

Q: QUESTION 3 Three years ago, Pete took out a loan of $55,000. The loan was taken out for 10 years…

A: Three years ago, Pete took a loan of $55,000. The loan was taken out for 10 years with an interest…

Q: Find the present value of 9,000 at a simple interest rate of 7% in 18 years?

A:

Q: 7. Laura borrows $5000 for 5 years at an annual simple interests rate of 5% per year. a) What is the…

A:

Q: c. If you plan to put your graduation money into an account and leave it for 20 years while you go…

A: GivenIf you plan to put your graduation money into an account and leave it for 20 years while you go…

Q: Laura invests $2,000 in a bank account which pays a compound interest rate of 6.4%. To the…

A: The principal amount invested = $2,000 Compound interest rate = 6.4% Time = 5 hours. There is no…

Q: At the beginning of year 1, Chantelle deposited $25,000.00 in an investment account that pays 5.00%…

A: Option (c) 103200.46 is correct.

Q: low much interest are you going to pay after 45 days if you borrowed 50,000.00 in a lending vestor…

A:

Q: Henry buys a new house. He takes out a loan worth $400000, with an annual interest rate of 7%,…

A:

Q: 9. FINANCING COLLEGE EXPENSES Mrs. Lorez wants all of her grandchildren to go to college and decides…

A: Given,  Amount after 18 years = A = $ 10,000  Time period = t = 18 years  Interest rate = r = 6 %…

Q: Q9. On a $45,000 4-year loan, how much less is the monthly payment if the loan is @8.4% compounded…

A: image is attached

Q: 4. Milet tants to provide a P200.000 graduation git for her daughter Mae who is now 16 years old.…

A: Find your answer below

Q: Marcus receives an inheritance of ​$1,000. He decides to invest this money in a 16​-year certificate…

A:

Q: 4. When Derrick turned age 15, his grandparents put $10,000 into an account that yielded 1.4%…

A:

Q: B. An cellphone is for sale at either (a) P15,999.00 cash or, (b) on terms, P1,499.00 each month for…

A:

Q: . In order to save for her 18th birthday, Yean decided to save P400 at the end of each month. If the…

A: According to the given information it is required to find the amount of money that will be in…

Q: Question 1 You buy an used car for $16,000 and the bank offers you 5.8% interest on monthly payments…

A:

Q: (b) Tom and Annie are buying a house and have taken out a 20 year, $250,000 mortgage at 6% interest,…

A: We have to find the monthly payment and interest.

Q: Recently, More Money 4U offered an annuity that pays 5.1% compounded monthly. If $2,307 is deposited…

A:

Q: On August 8, 1981, American Savings offered an insured tax-free account paying 23.24% compounded…

A:

Q: A college savings account pays 13.2% annual interest compounded semiannually. What is the balance of…

A: If the interest is compounded, we use the formula A=P1+rnnt. Here, A is the final amount, P is the…

Q: 4. Sydney is saving for a down payment on a new home. Each month she deposits $150 into an account…

A:

Q: Stark Industries, wants to set up a trust fund for its new research facility, earning 12% compounded…

A: The rate of interest is 12%. The periodical payment is 10 million. We need to calculate the amount…

Q: 3. A developer sells a small lot that he had owned for 320,000. He deposited the money into an…

A: The formula we need to use here is Amount = P1+rnnt, where P is the principal, t is the number of…

Q: Jon borrows $12,000 at 5% compounded monthly. He makes regular loan payments of $350 each month. a)…

A:

Q: A recent high school graduate received ​$700 in gifts of cash from friends and relatives. In​…

A: This question is related to compound interest, We will solve it using given information.