You want to buy a Car for $28,000 dollars. The bank gives you the option of 3% interest over 4 years or 6 years. What is the difference in the payments (to the nearest dollar)?

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…

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Q: Twenty years after purchasing shares in a mutual fund for $5900, the shares are sold for 11,300. The…

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

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: A teenager receives $50 for his birthday, and his sister wants to borrow it from him for 15 weeks.…

A: The formula for simple interest is I= Prt Where I= Interest earned, P=Principal amount, r=rate of…

Q: After 10 years, you have made 1/3 of the payments. Why isn't 1/3 of the loan balance paid off?

A: We can solve it mathematically and show that after 10 years only a partial principal amount is paid…

Q: Your roommate asks to borrow $500 and agrees to pay it in 45 days with interest rate of 4%. How much…

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

Q: A Investment of P20,000 was made with a rate of 12% annually. How many years will he pay an amount…

A: Since you have posted multiple questions and we can answer one question. So, answered first…

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: You borrow 1000 from your brother and agree to pay back 1060 in 20 months. What simple interest rate…

A: Formula used:

Q: Nanette buys a $5000 20-year bond that has a coupon rate of 2.5%.If she keeps the bond to…

A: We have to find

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: How much will you pay on interest if you buy a $213,000 home on 4.6% interest with monthly payments…

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Q: What are the semiannual payments?

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

A: It is given that  Principal, P = $18000 R = 5 % = 0.05 time, t = 5years    We have to find the…

Q: If you can afford to make payments of $350 per month for four years. What is the largest amount of a…

A: Given Monthly payment(P)=$350Annual Percentage Rate(APR)=5%n=4 years=48  monthsNow use the…

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

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Q: You purchase a mutual fund at an offer price of $15.79 per share. If the net asset value is $15.26,…

A: The solution is given below.

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: 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: Steven wants to buy a new couch priced at $705 and agrees to pay for it over two years with a…

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Q: THe washingtons buy a studio apartment for $240,000.00, what percentage down payment is 12,000.00?…

A: topic - percentage

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: You are expecting a tax refund of $4,000 in 4 weeks. A tax preparer offers you an "interest-free"…

A: According to the given information it is required to find the simple interest rate, r, for the…

Q: A car dealer will sell you a used car for $6,498 with $798 down and payments of $162.51 per month…

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Q: Kiara is expected to settle a loan by paying $8,500. What amount should she pay if she decides to…

A: The given data is: To settle a loan by paying P=$8,500 Interest rate r=3.50% ( compounded monthly)…

Q: Kanye wants to save $16,000 in 6 years by making monthly payments into an ordinary annuity for a…

A: Given Kanye wants to save $16,000 in 6 years by making monthly payments into an ordinary annuity…

Q: The interest rate on an $859.50 debt was 104%. For how many months was the loan outstanding if it…

A: Given: The interest rate on an $859.50 debt was 1014%. Find for how many months was the loan…

Q: If money is worth 14%, what payment on August 29 would be equal in value to a payment of $86,900 due…

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Q: A retiree invests $5,000 in a savings plan that pays 6% per year. What will the account balance be…

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

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Q: If a car priced  at $17,305 is offered for nothing down with 60 monthly payments of $397.63, what is…

A: Given Information -  Cost of the car = $17,305 Monthly payments to clear the debt = $397.63 Number…

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: interest and agreed to pay it off over a 2 year period, how much would your monthly payment be?

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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: 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: You borrow $710 from your brother and agree to pay back $770 in 3 months. What simple interest rate…

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Q: Jenelle bought a home for $430,000, paying 12% as a down payment, and financing the rest at 4%…

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Q: Mary and Kevin buy a vacation home for $350,000 down and take out a 15- year mortgage for the…

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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: If you paid $54 to a loan company for the use of $1,040 for 42 days, what annual rate of interest…

A: We will use the Simple Interest Formula to calculate the annual rate of interest. Simple Interest…

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

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Q: A cordless telephone that is regularly priced at $50.00 is discounted $10.00. What is the discount…

A: Given  Telephone price=$50.00 Discount =$10.00

Q: A family obtained a 1m mortgage. If the monthly payment is 38,000 for four years, how much is the…

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Q: In 2016 Donald Trump admitted he received a small loan of a million dollars from his father if he…

A: We can use this formula to compute the monthly payment,  Monthly payment = P×r(1+r)n1+rn-1 Where P…

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: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…

A: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…