Steven wants to buy a new couch priced at $705 and agrees to pay for it over two years with a finance charge of 4.8% simple annual interest. How much will his monthly payment be?

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: Jimmie has a job at an advertising agency earning $54,000 per year. Jimmie is currently 26 years old…

A:

Q: You can get a car loan with a term of three years at an apr of 3%. If you can afford a monthly…

A: Given: interest rate per annum is= 3%, monthly payment= $300, time=3 years To find the amount of…

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: Rachel purchased a car for $23,900; she paid 20% of the cost as a down payment and financed the…

A: The compound interest formula for an initial amount of P at a rate of r%, for t years compounded n…

Q: Martin wants to buy a new bedroom set that costs $1,829 including tax. Unfortunately, he doesn’t…

A: Martin wants to buy a new bedroom set that costs $1,829 including tax. Unfortunately, he doesn’t…

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: Nina and Michael have been approved for a $300,000 30-year mortgage with an APR of 5.25%. How much…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Violet is planning to make 29 semiannual loan payments of 1460 dollars each. If her bank charges…

A: The given data is: Violet is planning to make 29 semiannual loan payments of 1460 dollars each The…

Q: Anna's employer covers 80% of the cost of a $5700-per-year health insurance plan, and her share of…

A:

Q: If you pay your friend 15$ each month for 20 months to repay a loan, what is the total cost of the…

A: Explanation of the answer is as follows

Q: Michael wants to buy some exercise equipment for his home for $336000 financed at an annual rate of…

A: Amount Micheal has to pay per month is calculated as shown below

Q: Steven wants to buy a new couch priced at $558 and agrees to pay for it over two years with a…

A:

Q: To afford the installation of solar panels on her house, Erin borrowed for $19,500 at 4.2% APR for…

A:

Q: Sammy wants to buy a new stereo price at $443 he enters into agreement to pay $22 a month for 24…

A: Cost of New Stereo = $443 He will pay $22 a month for 24 months to buy the sterio. Calculating the…

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: Caitlin leased a car for 4 years at a rate of 5.80% compounded monthly. It required her to make…

A:

Q: Find the simple interest on a loan of 12,500 that is borrowed at 9% for 7 months.How much would it…

A: This question related to simple interest and solution is given below.

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

A:

Q: Sammy wants to buy a new stereo priced at $413. He enters into an agreement to pay $20 a month for…

A:

Q: Jonathan wishes to buy a used Chevy Malibu for $12,500. He only has $1,000 for a down payment so the…

A: Simple interest is given by I=PTR/100

Q: Sammy wants to buy a new stereo priced at $436. He enters into an agreement to pay $21 a month for…

A: GIVEN: Sammy wants to buy a new stereo priced at $436. He enters into an agreement to pay $21 a…

Q: Zayn buys a new phone for $600 and pays for it over two years with 6.% simple annual interest. What…

A:

Q: An auto dealer advertised a down payment of $1,500 on a Mustang valued at $19,400. What is the…

A: we are given the Amount of down payment of Mustang= $1500                             Cost of down…

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

A:

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

A:

Q: Megan leased a car for 5 years at a rate of 4.80% compounded monthly. It required her to make…

A: Total amount paid after 5 years or 60 months = 665 x 60 = $ 39900 Remaining amount that she can pay…

Q: The simple interest on a $710 three-year loan amounted to $276.  What was the annual interest rate…

A:

Q: Leo needs $30,000 to cover

A:

Q: Olivia wants to pay her student tuition and fee in four annual payments: 6,000TL, 8,000 TL and…

A: Olivia wants to pay her student tuition and fee in four annual payments: 6,000TL, 8,000 TL and…

Q: Assume that her total winnings are $ 400000, that the utility bonds will pay 16 percent per year,…

A: Given: Total winnings=$ 400000 . The utility bond will pay 16% per year. The savings account will…

Q: An investor purchased a 93-day, Government of Canada T-bill that had a simple interest rate of 4.50%…

A: Given problem:- An investor purchased a 93-day, Government of Canada T-bill that had a simple…

Q: If you borrow 1500 dollars from a lending agent for 13 weeks and in the end you have to pay back…

A: Formula r = (1/t)(A/P - 1) r = simple interest rate = ? P = principal amount =1500 A = P+ I  = 1650…

Q: Jason takes out a car loan for $14,500 and is paying simple interest of 7%.  He finances the loan…

A:

Q: Michael wants to buy some new exercise equipment for his home for 371,000 financed at an annual…

A: In the add-on method, we divide add the principal amount and the interest for the five years into…

Q: Kyle took out a loan at a simple interest rate of 6% for 10 years. He ended up having to pay $12,000…

A:

Q: For the car loan described, give the following information. A car dealer will sell you the $30,750…

A: We need to find APR.

Q: An auto dealer advertised a down payment of $1,400 on a Mustang valued at $18,200. What is the…

A:

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

A:

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: How much can you barrow to buy a house if you agree to pay $1500 per month for 30 years at 4.5%…

A: In the given question we have to calculate the amount needed to be borrowed of which monthly payment…

Q: How much will you pay on interest if you buy a $217k home on 3.5% interest with monthly payments on…

A:

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: You want to make monthly payments of $440, but you don't want a car loan over your head for more…

A: Let the loan amount is P. it is given that monthly payment M is 440. the interest rate is 0.015…

Q: Find the amount of monthly payment necessary for the deposit to a sinking fund. A equals $50,000, N…

A: equals $50,000, N = Semiannually, r=14%, t=10

Q: nd the savings plan balance after 3 years with an APR of 4% and monthly deposits of $400

A: Given that: Monthly deposit = $400 Time = 3 years APR = 4% To determine the balance after 3 years.

Q: Sammy wants to buy a new stereo priced at $403. He enters into an agreement to pay $21 a month for…

A: Sammy wants to buy a new stereo priced at $403. He enters into an agreement to pay $21 a month for…

Q: How much will your principal be? At the end of 5 years, how much will you have to pay back? If you…

A: Here AS PER POLICY I SHOULD HAVE TO CALCULATE 3 SUBPART ONLY EVEN IF I HAVE CALCULATED 4 PLZ REPOST…

Q: For the car loan described, give the following information. A newspaper advertisement offers a…

A: Cost of the car = $9,000. Number of installments = 36 Monthly payment = $347.50 (a) Obtain the…