You want to save $50,000 in 18 years for a college fund for your child by making regular, monthlydeposits. Assuming an APR of 5%,a. calculate how much you should deposit monthly.b. How much comes from the actual deposits and how much from interest?

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: the General Electric bonds you purchased had paid you a total of $6,510 at maturity, how much did…

A: Answer and explanation is given below...

Q: Using the APR table, how much interest would be charged for a $10,000 loan at 12.5% for 3 years?…

A: Consider the given information. PV=$10000 r=12.5% t=3 years And, the values are defined as.

Q: Ann and Tom wants to establish a fund for their grandson's college education. What lump sum must…

A: let they deposit    $ Po P=Po1+rnntP= final amount Po= initial Amount r= intrest raten=number of…

Q: Hui acquired a $9,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of…

A: We have to find the simple interest rate.

Q: Hungen Inc. borrowed $100,000.00 from a financial company with an ordinary simple interest rate of…

A: Here money is borrowed from tbe financial company for simple interest rate . So here we can apply…

Q: You maintain an average balance of 375.00 on your credit card which carries a 24% annual interest…

A:

Q: Calculate the simple interest earned. Round to the nearest cent. P = $6,000, r = 6.3%, t = 8 months

A: Note:- Simple interest formula is given by simple interest=prt/100 where p=principal value r= rate…

Q: When calculating present value, the _____ the interest rate, the smaller the present value amount.

A: Answer When calculating present value, the _____ the interest rate, the smaller the present value…

Q: Find the present value of $34,500 in 11 months at 5.5% interest Give your answer to the nearest cent…

A:

Q: Find the monthly payment for the loan. Used car financing for $600,000 for 25 months at 11.75%.…

A: here we have to find the monthly payment for the loan. PV (present value of car) = $600,000 n(number…

Q: A house sells for  $155,000  and a  20%  down payment is made. A mortgage was secured at  3%  for…

A:

Q: Jeffery Wei received a 6-year non-subsidized student loan of $31,000 at an annual interest rate of…

A:

Q: A credit card has an APR of 32.47%, and its billing cycle is 30 days long. What is the credit card's…

A: Given: APR or annual percentage rate = 32.47% billing cycle: 30 days Annual percentage rate means…

Q: Calculate the simple interest due on a 66-day loan of $3700 if the interest rate is 4%. (Round your…

A:

Q: Calculate the simple interest earned. Round to the nearest cent. P = $7,000, r = 6.1%, t = 6 months

A:

Q: A newly-formed business bought a property worth PHP14.5M. It deposited a down payment of PHP3M with…

A: Given: Cost = 14.5M Replacement = 3M n = 4*10 =40 rate= 12%

Q: Juan De Mesa borrowed P50k at 2% per month payable in 36 equal end the month payments. a. How…

A: Juan De Mesa borrowed 50,000 at a interest rate of 2% payable in 36 equal end of the month payments.…

Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a…

A:

Q: Jeffery Wei received a 7-year non-subsidized student loan of $33,000 at an annual interest rate of…

A:

Q: If you purchase $22,000 in U.S. Treasury Bills with a discount rate of 4.1% for a period of 26…

A: Given data, Face value is $22,000 Discount rate is 4.1% Number of periods is 26 weeks

Q: A loan company offers money at 1.5% per month compounded monthly. What is the nominal interest rate?…

A: According to question given that Loan company offer 1.5% per month compounded monthlyNominal…

Q: The owner of a hot dog stand receives a loan of $4,750 at 7.25% for 9 months. Find the amount of…

A:

Q: Ann and Tom want to establish a fund for their Grandson's education. What lump sum must they deposit…

A:

Q: Jeffery Wei received a 7-year non-subsidized student loan of $30,000 at an annual interest rate of…

A: Solution: The objective is to find Jeffery's monthly loan payments for this loan after he graduates…

Q: Jeffery Wei received a 6-year non-subsidized student loan of $31,000 at an annual interest rate of…

A:

Q: Chuong Ngo borrows $2400 from a bank that advertises a 6% simple interest rate and repays the loan…

A:

Q: find the total amount due and the amount of simple interest earned. round to the nearest cent…

A:

Q: Maritess bought a television set using her credit card with monthly payment of 1,200 php at 3%…

A: topic - application of geometric progression

Q: Consider a 30-year fixed-rate home loan of $515,500 with an interest rate of 5.75%. What is the…

A: Given: P=  $515,500 ,           r=5.75% =0.0575 ,                        t=30 year

Q: In order to purchase a residential homesite, a man borrows $50,000 from his father. The son pays his…

A: Let's find.

Q: The pawnbroker charged Elisa a simple interest rate of % (Round to the nearest whole number as…

A: We have to find the simple interest  rate.

Q: Find the APR to the nearest half percent for the following situation. Amount financed: $2000 Finance…

A:

Q: Jeffery Wei received a 6-year non-subsidized student loan of $33,000 at an annual interest rate of…

A: Consider the provide question, Given, P = $33,000 Annual interest rate = 5.8% We first find the…

Q: A. A$10,000 certificate of deposit earns simple interest of 8 percent per year. Calculate the total…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Jeffery Wei received a 7-year non-subsidized student loan of $33,000 at an annual interest rate of…

A: Since it is a non-subsidized loan, interest would accrue during the 4 years Jeffery is in college.…

Q: Consider a 30-year fixed-rate home loan of $525,500 with an interest rate of 3.75%. What is the…

A: We have to find the interest of given amount. The solution is following.

Q: What is the simple interest paid on $1600 at 3 % for 4 years? Round your answer to the nearest cent.

A:

Q: If you sign a discount note for $4,800 at a bank discount rate of 8%, for 90 days, what is the…

A: To find the effective interest rate basically there are three steps involved Step1: Find the bank…

Q: Find the APR (rounded to the nearest tenth of a percent) for the Purchase a living room set for…

A: Find the APR for the purchase a living room set for 3600 at 12% add on interest for 3 year.

Q: The finance charge that a student pays on his credit card is 18.4% APR (annual percentage rate).…

A: As per given by the question, there are average balance for the year is $5000 with 18.4%ARP. Now,…

Q: you purchase $24,000 in U.S. Treasury Bills with a discount rate of 4.9% for a period of 26 weeks,…

A: Principal =$24000, Time, T = 26 weeks = 182 days = 0.505 years Discount rate = 4.9%

Q: At auction on August 18, 2005, 3-month T-bills were sold at a discount of 3.470%. What was the…

A:

Q: Consider a 30-year fixed-rate home loan of $535,500 with an interest rate of 5.25%. What is the…

A:

Q: Use the simple interest formula to determine the missing value. Round dollar amounts to the nearest…

A: We need to determine the principal amount, p. The simple interest is calculated using the formula:…

Q: Tiffany acquired a $5,000.00, 91-day, Province of Alberta T-bill on its date of issue for a price of…

A:

Q: Jeffery Wei received a 7-year non-subsidized student loan of $32,000 at an annual interest rate of…

A:

Q: A person collected $2,100 on a loan $1,800 they made 4 years ago. If the person charged simple…

A: We have formula for simple interest

Q: Last year, Reuben deposited $2000 into an account that paid 2% interest per year and $3000 into an…

A:

Q: Suppose a person borrowed $2000 and repaid the lender $2150 after 10 months. What simple interest…

A: Initial amount =$2000 Final amount = $2150 Intrest Paid = $150

Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.