Solve the following problems. How long the ₱400,000 amount to ₱51,000 if the simple interest rate is at 11% per annum?

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: If you invest $30,000 at 4.76% interest paid quarterly, how long would it take you to double your…

A: PrincipalP=30,000 Rate of interest r=4.76%=0.0476 Double the principal A=60,000 To find: time t…

Q: At what simple interest rate is P16 500 invested if it earns an interest of P1 620 just after 1.5…

A: Given:  Principal amount p=16500  Amd amount of interest earns I= 1620  Time t=1.5 year   Then to…

Q: At what annual rate of simple interest must $12 000 be invested to earn $135 in interest each…

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Q: Kim borrowed $9,000 at  2  3/8% interest compounded daily.  How much will she have to pay back…

A: The amount earned when P amount is invested in a scheme offering compound interest at a rate of r%…

Q: How long will 2 million pesos earn a simple interest of 200, 000 at 1% per annum

A: The formula for the simple interest is given by S.I= PRT  where S. I is the simple interest , P is…

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: How much money does Nora have for her car down-payment if she invests $750 at a monthly interest…

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Q: Solve the problem. 3) If $4400 earned simple interest of $165.00 in 6 months, what was the simple…

A: To work out the rate of interest , under the given data,

Q: Steph took out a simple interest loan that charges 8.5% interest annually. If her original loan…

A: Given: Loan amount is, P=$30000. Simple interest rate is, r=8.5%. Number of years, n=20 years. The…

Q: The Habers purchase a $6500 living room set and take out a two-year loan for the entire amount at…

A: given  principal P=$6500 interest rate i=26% i=2612 =2.1666% =0.021667 time t=2 years number of…

Q: You pay off a debt of $750 by paying 19% of the remaining balance each month. How many months will…

A: Given that , Initial debt D0=$750 r=19% when Dt=450 then t=?

Q: Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and the other…

A: We will use: If P dollars is invested at a yearly rate of interest r per year, compounded m times…

Q: At a 5 % annual interest rate, a principal of $2,000 earns $ 400. How long was the principal…

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Q: Solve the following problems. At what simple interest rate per annum will ₱25,000 accumulate to…

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Q: 2. At an interest rate of 2% per month, the money will double in value in how many months?

A: The compound interest formula for an amount P compounded per month at a rate of r% for n months is…

Q: Susie is paying $512.49 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: Given: Month payment=$512.49 Mortgage=$150,000

Q: Suppose you pay back $355 on a $325 loan and you had the loan for 60 days. What was your simple…

A: We have to use simple interest formula.

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

A: Given Airline wants to borrow $800 million by issuing bonds. The bonds are for a 10-years period…

Q: Mika's parents want to have enough saved to give her $15 000 a year - for 4 years of college. They…

A: Mika's parents want to give $15000 per year for 4 years of college. Therefore they want to give…

Q: How long will it take to pay off a student loan of $20,000 if the interest paid on the principal is…

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Q: Edgar accumulated $6,000 in credit card debt. If the interest rate is 20% per year, and he does not…

A: Given:  P = 6000  r = 20% = 20/100 = 0.2   t = 3

Q: How much should you put in an investment paying a simple interest rate of​ 5% if you needed​ $4000…

A: Consider the provided question, Given, rate of interest = 5% time = 18 months = 1812 years Future…

Q: (a) How much will be in your account after 5 years? (b) How much interest will be earned after 5…

A: Principle, P = $2000 Interest rate, r = 3% = 0.03 Use the continuous compound interest formula,…

Q: Susie is paying 594.16 every month for her 150,000 mortgage. If this is a 30 year mortgage, how much…

A: The monthly amount Susie paying per month = 594.16Total mortgage = 150,000The time period of…

Q: On a balance of $25,000 the finance company charged simple interest of $4,000 for 2 years. Find the…

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Q: You have $2000 in a savings account that pays an annual interest rate of 3.25%. How long will it…

A: Given,  Principal = p = $ 2000 Interest rate = r = 3.25 %  annually Amount = A = 2×2000 = $ 4000 We…

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: It cost $200,000 to put a kid through college.  How much money would you have to deposit monthly…

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Q: Nicole and Christy plan to purchase a home for $329,000. They will pay 20% down and finance the…

A: Given that Nicole and Christy plan to purchase a home for $329,000. They will pay 20% down and…

Q: Bo won $10,000 on a scratch-off lottery ticket. In five years, he wants to buy a new bass boat that…

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Q: How much should you invest at 4% simple interest in order to earn $65 interest in 19 months?

A: Given: r=4%=0.04 I=65 t=19 months=19/12=1.5833 years To find P=?

Q: A man borrowed 24000 from two money lenders. For one loan he paid 15% annum and for the other 18%…

A: Let x be the amound borrowed on 15% and (24000-x) at 18% Given taht total interest paid is Rs 4050

Q: If $600 is borrowed and the interest after 24 months is $120, what is the annual interest rate for a…

A: Solution

Q: How much interest will Roxanne have to pay if she borrows $2000 for 2 yr at a simple interest rate…

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Q: How much interest will Roxanne have to pay if she borrows $1000 for 2 yr at a simple interest rate…

A:

Q: If the rate of interest in Example 2 was 6% instead of 1.2%, how much will the account have after 24…

A: Principal Investment (P) =$1000 Rate of interest (R) = 6% per annum = 612% per month=12% per month…

Q: You buy a house for $280,000 and pay $25,000 down.  The rest is financed for 30 years at 6.5%…

A: Here, Value of House is $280,000 Down Payment is $25,000 Loan Amount (PV) is: Interest Rate (Rate)…

Q: Susie is paying $531.8 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: Consider the given question,Total mortgage = $150,000 Monthly payment of Susie = $531.8Total time of…

Q: What amount of money will accumulate to $83,000 in 1 year and 3 months at the interest rate of 2.12%…

A: Given Principal (P) =83000 Rate of interest (R) =2.12% Time (T) =1 year 3 months

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: How many days did it take Romy to place 120,000 in an investment house that pays 8% simple interest…

A: If p= principal amount R= rate of interest t= time And I is the interest after time t at a r% rate…

Q: Mr. Charles, a rich businessman, divided his wealth of $170 million between his two sons, Jason and…

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Q: Solve the following problems. Mrs. Lee invested ₱55,000 in a financial institution for 16 months at…

A: Given, Principal amount(P) = ₱55,000 time = 16 months = 16/12 = 4/3 years interest rate = 6% (a) we…

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: Johnny borrowed 15,000 from a lending company with annual simple interest rate of 9.5%. If hhe had…

A: The formula for the amount of simple interest after t years is: A=P+Prt100 Here, P is the principal…

Q: How much should you invest now at 3 3/4% simple annual interest in order to earn $190 interest in 5…

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