You take qut a 2-year, $5,000 loan at 7% simple annual interest. The lender charges you a $300 fee. Thinking of the fee as additional interest, what is the actual annual interest rate you will pay? Round unswer to the nearest 0.001%

Q: To borrow​ money, you pawn your guitar. Based on the value of the​ guitar, the pawnbroker loans you…

A: Given:To borrow​ money, you pawn your guitar. Based on the value of the​ guitar, the pawnbroker…

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Q: To buy a Treasury bill (T-bill) that matures to $10,000 in 6 months, you must pay $9710. What annual…

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Q: Rafael and Natalia Sandino built a new barn. To finance the loan, they paid $1,292 interest on…

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Q: Angela Montery has a five your car loan for a jeep wrangler and an annual interest rate of 5.7% and…

A: image is attached

Q: To go on a summer trip, Chau borrows $800. He makes no payments until the end of 2 years, when he…

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A: Monthly payment is R= $350 Monthly interest rate is i=0.0612=0.005 Number of payments=n=12×3=36 The…

Q: Matilda wishes to retire at age 67 with $1,500,000 in her retirement account. When she turns 28, she…

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Q: Melissa agrees to contribute $500 to the alumni fund at the end of each year for the next 9 years.…

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Q: Roslyn plans to use her savings to pay for a holiday. The holiday will cost $6000.  What minimum…

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Q: Henry wants to buy a new gaming laptop worth 84,000 php. He is offered 40% of the price as down…

A: Let's find.

Q: A man has a simple discount note for $6,100, at an ordinary bank discount rate of 8.84%, for 60…

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Q: A microwave oven may be purchased by making $50 down payment, followed by $25 at the end of each…

A: We know, that the loan amount formula isLoan Amount=A1+rn-1r1+rnHere, A=$25           r=…

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Q: Suppose you want to have $600,000 for retirement in 20 years. Your account earns 5% interest. Round…

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Q: You want to buy a Car for $20,535 dollars. The bank gives you the option of 3% interest over 4 years…

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Q: How much will you pay for the interest if you will borrow an amount P24.000 at 4% simple interest…

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Q: For an account that earns simple annual interest, find the interest and the balance of the account.…

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Q: Margo borrows $1100, agreeing to pay it back with 5% annual interest after 16 months. How much…

A: Given:   P = 1100    r = 5%     t = 16 month

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Q: Jack Tripper signed a $9,000 note at Fleet Bank.  Fleet charges a 9.25% discount rate.  If the loan…

A: consider the equation

Q: Apply your knowledge of the simple interest formula to find the rate. Mandy deposited $600 into an…

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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: You can afford a $300 per month car payment. You've found a 5 year loan at 4% interest. How big of a…

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Q: You can afford a $350 per month car payment. You've found a 5 year loan at 4% interest. How big of a…

A: Solution

Q: Saylor Henshaw earned $120 in simple interest in 9 months at an annual interest rate of 5%. How much…

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Q: Angela Montery has a five-year car loan for a Jeep Wrangler at an annual interest rate of 6.5% and a…

A: Angela Montery has a five-year car loan for a Jeep Wrangler at an annual interest rate of 6.5% and a…

Q: Brian wants to invest $2,400.00 in a savings account. Determine the simple interest rate required…

A: Given  Principal amount = $2400 time = 1678 days

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Q: Suppose you want to have $500,000 for retirement in 20 years. Your account earns 6% interest. Round…

A: Given A=$500000 , t=20=n , r=6% , I=0.06 . To find the monthly payment .

Q: You have $400,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

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Q: You can afford a $350 per month car payment. You've found a 5 year loan at 2% interest. How big of a…

A: Given data- We have to find the future value.

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Q: You can afford a $400 per month car payment. You've found a 4 year loan at 6% interest. How big of a…

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Q: Suppose you buy a home and finance $275,000 at $2,293.17 per month for 30 years. What is the amount…

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Q: You can afford a $250 per month car payment. You've found a 3 year loan at 3% interest. How big of a…

A: Given: You afford $250 per month for a car. The interest rate is 3%  and repay the loan in 3 years.…

Q: You can afford a $200 per month car payment. You've found a 5 year loan at 5% interest. How big of a…

A: Given, you can afford a $200 per month and you've found a 5 year loan at 5% interest Let the loan…

Q: Ryan bought a $255,000.00 house, paying 10% down, and financing the rest at 7% interest for 15…

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Q: You take out a 2-year, $5,000 loan at 7% simple annual interest. The lender charges you a $300 fee.…

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Q: You take out a 10 month, $2,000 loan at 8% annual simple interest. How much would you owe at the end…

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Q: ASK YOUR TEACHER Use the ordinary interest method to find the rate of interest that Make Over…

A: Ordinary simple interest is a simple interest that uses 360 days as the equivalent number of days in…

Q: You deposit $2000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given:    A = 2000    t = 10   r = 5% = 5/100 = 0.05  Compound Monthly : n = 12

Q: You can afford a $200 per month car payment. You've found a 5 year loan at 2% interest. How big…

A: Given rate=2%Time= 5 yearsInterest=$200We know that P=d(1-(1+rk)-Nk)(rk)Where d is the loan amount…

Q: You want to be able to withdraw $20,000 from your account each year for 15 years after you retire.…

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Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products. 

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.