The Habers purchase a $6500 living room set and take out a two-year loan for the entire amount at 26% with monthly payments. After 14 of 24 installments, they decide to pay it off. How much do they save in interest? How much is needed to pay the balance of the loan?

Q: Miguel purchased a hot tub costing $5,010 by taking out an installment loan. He made a down payment…

A: Cost of hot tub=$5,010 Down payment=$1,300 hence the loan amount=$(5030-1300)=$3730 Payment each…

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

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A: Given  : P = Principal value = $500 r = Interest rate = 4% =0.04 t = time in years = 45365

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A: NOTE: Refresh your page if you can't see any equations. . the down payment is 30% of the price so…

Q: Miguel purchased a hot tub costing $5,010 by taking out an installment loan. He made a down payment…

A:

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A: Formula used:

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Q: April borrows $18,000 at an interest rate of 5% to purchase a new automobile. At what rate (in…

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Q: and 6 months,

A: Introduction: Simple interest could be a fast and straightforward technique of calculative interest…

Q: Georgia purchased a new laptop, which was advertised for $950. She bought it on the installment plan…

A: Given : Price of laptop  = $950, Payment at the time of purchase = $60 Interest rate  = 12% Time  =…

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Q: Kevin buys a $4,317 air conditioning system using an installment plan that requires 9.5% down. How…

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Q: Margo borrows $1900, agreeing to pay it back with 5% annual interest after 11 months. How much…

A: Given data, Borrowed amount (P) = $1900 Annual Interest (R) = 5% = 0.05 Time (T) = 16 months = 11/12…

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Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

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

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A: Since you have posted a multi subparts question according to guildlines I will solve first three…

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A: Assuming the simple interest, Interest = PRT/100 Where P= principal R = rate T = time

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

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Q: Shaynen borrowed P 1,200,000.00 for the purchase of his car. If his monthly payment is P 30,000.00…

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

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

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Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

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A: The total price of the home is $241,000. The down payment will be 15% among the total price.  Rest…

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Q: Margo borrows $1100, agreeing to pay it back with 8% annual interest after 14 months. How much…

A: Given data: The given amount borrowed is P=$1100. The given rate of interest is r=8%. The given time…

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

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Q: Margo borrows $1100, agreeing to pay it back with 3% annual interest after 16 months. How much…

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