You have a savings account. You have had this account for about 6 years and you ended up with about $16,360.93, after starting with $12,000. You want to know what your interest rate is but you don't know where your statement is. You call your bank and ask them what it is. What did they tell you?

Q: Farah borrows $1588 for 5 years at a simple-interest rate of 6%. Then the interest will be: $833.70…

A: in the given question we have to tell about the total intrest money given on$1588 at the simple…

Q: You have $5,000 on a credit card that charges a 23% interest rate. If you want to pay off the credit…

A: It is simple interest formula.

Q: If an amount $2144 at a simple interest rate of 10% for 4 years. Then the simple interest is $. O…

A:

Q: You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing.…

A: Hey, since there are multiple sub-parts posted, we will answer the first 3 sub-parts. If you want…

Q: You have $3,500 on a credit card that charges a 19% interest rate. If you want to pay off the credit…

A:

Q: Let's say Jeff Bezos, owner of Amazon, takes 5,000,000,000 and puts it in a savings account with a…

A: Principal Amount, P = $5,000,000,000 Simple interest rate, r = 5% = 0.05 Time, t = 1 year To…

Q: You want to buy a $28,000 car. You can make a 10% down payment, and will finance the balance with a…

A: Amount = 28000 Down payment = 2800 Financed amount = P = 28000-2800 = 25200 r = 0.04/12 = 0.0033…

Q: A man is left with an inheritance from his father. He has an option to receive 2Million at the end…

A: Given information Principal amount P=2,000,000 Interest rate r=8% ⇒r=8100=0.08 Time t=10 years First…

Q: Find the principal if the interest is ₱3500, the rate is 4.5% and the time is 1.75 years.

A:

Q: You want to buy a Car for $28,000 dollars. The bank gives you the option of 3% interest over 4 years…

A:

Q: A recently married couple ran up a $9,625 credit card balance for wedding expenses. Their credit…

A:

Q: You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing.…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: You owe $5,000 on your credit card, and you plan to pay it off through monthly payments of $100. If…

A: We use formulas: Simple Interest(SI) = (PRT)/100, where P = Principal Amount, R = Rate and T = Time…

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: An investor puts £5,000 in a savings account that pays 10% simple interest at the end of each year.…

A:

Q: You have $2,500 on a credit card that charges a 14% interest rate. If you want to pay off the credit…

A:

Q: You have $3,500 on a credit card that charges a 19% interest rate. If you want to pay off the credit…

A: We have to calculate monthly amount.

Q: You have $2,000 on a credit card that charges a 18% interest rate. If you want to pay off the credit…

A:

Q: Suppose that you borrow ​$4000.00 from a friend and promise to pay back $5680.00 in 2 years. What…

A: Formula : Simple interest = PRT/100

Q: Mr. Wong’s daughter needs to borrow $1000 from him to buy her textbooks. He agrees  to the loan and…

A: This is a question related to simple interest concept. Based on the formula of simple interest we…

Q: A recently married couple ran up a $6,594 credit card balance for wedding expenses. Their credit…

A:

Q: You are now 20 years of age and decide to save $100 at the end of each month until you are 65. If…

A: When we invest a fixed sum at a fixed interval of time, it is called an annuity. The formula to…

Q: Suppose you deposited ​$40 per month into a savings plan for 5 years and at the end of that period…

A:

Q: You want to buy a $33,000 car. You can make a 10% down payment, and will finance the balance with a…

A: The purchasing price of the car is $33,000. I have paid 10% payment on cash. Then the remaining…

Q: You purchase a new car for $19,500. If you borrow $19,500 for 5 years with an interest rate of 5%…

A: Given P=$19500 r=5%=0.05 t=5 years

Q: You want to buy a $25,000 car. You can make a 10% down payment, and will finance the balance with a…

A: To find the monthly payments

Q: What is the new balance in the savings account if the previous balance was $120.25, interest was…

A: See the attachment

Q: On October 26, you plan to purchase a $1,500 computer by using one of your two credit cards. The…

A: (a) We need to calculate the finance charged by the banks on using each card. For silver card…

Q: If the interest on a loan amount $3500 for 1 years is $132. Then the rate of interest is O 2.65%…

A:

Q: You have $3,000 on a credit card that charges a 18% interest rate. If you want to pay off the credit…

A: To find the amount need to pay per month

Q: If you are going to a bank, which type of interest will you prefer, simple or compund? why?

A: Which type of interest will you prefer, simple or compound ?

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

A:

Q: You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing.…

A:

Q: Find the amount (in $) if interest on the loan. Principal: $13,800 Rate ( %) : 9.4 Time : 5 (3/4)…

A: Find the amount (in $) if interest on the loan. Principal: $13,800 Rate ( %) : 9.4 Time : 5 (3/4)…

Q: Your company provides a 50% matching toward your retirement. If you deposit $200 each month into a…

A:

Q: You want to buy a $15,000.00 car. You can make a 10% down payment, and will finance the balance with…

A:

Q: You bought a bond with 8% coupon rate, 10 year maturity, and $1000 par value for $1,039 one year…

A: We have coupon rate =8% Coupon Amount = face value×coupon rate=$1000×0.08=$80 Total return = (Income…

Q: You have $3,500 on a credit card that charges a 18% interest rate. If you want to pay off the credit…

A: Given- You have $3,500 on a credit card that charges a 18% interest rate. To find- If you want to…

Q: On October 25, you plan to purchase a $1,800 computer by using one of your two credit cards. The…

A: To calculate the interest.

Q: Andie is saving for her retirement and want to have $750,000 saved. Her advisor says she can assume…

A:

Q: You have $3,000 on a credit card that charges a 13% interest rate. If you want to pay off the credit…

A: Given data Loan amount = $3000 Interest rate(r) = 13% = 0.13 Period = 5 years => t = 5 × 12 = 60…

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

A:

Q: You have $2,000 on a credit card that charges a 17% interest rate. If you want to pay off the credit…

A: Given: Credit card amount due (PV) = $2000 Annual interest rate (r) = 17% Number of months (t) = 5…

Q: man wants to set up a 529 college savings account for his granddaughter. How much would he need to…

A: Given: Future value required 17 years=60,000

Q: You have $2,000 on a credit card that charges a 22% interest rate. If you want to pay off the credit…

A: Given:

Q: How much is $250 to be received in exactly one year worth to you today if the interest rate is 20%?…

A:

Q: You have $5.000 on a credit card that charges a 19% interest rate. If you want to pay off the credit…

A: Here we will calculate monthly payment to pay off the credit card in 5 years,

Q: You have $5,000 on a credit card that charges a 17% interest rate. If you want to pay off the credit…

A: