What is the simple interest rate of $290, 12.5%, 6 months

Q: What was the interest rate on a 2-year loan of $500 if the simple interest paid was $120 type your…

A: In this question we are given with principal and interest paid for 2 years and we have to find the…

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: you need a home loan of $85,000 after your down payment. how much will your monthly house payment be…

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Q: complete the following table for the simple discount notes. use the ordinary interest method. (round…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: What is the total cost of a house you purchased with $20,000 as a down payment and monthly payments…

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Q: Find the ending balance: $45,000 for 18 months at 4% annual compound interest

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Q: Jamerra receive plans on paying the end of 2 yea $450 in interest interest rate on

A: GIVEN  principal P=$ 3000 time t=2 years interest I=$ 450

Q: Calculate the simple interest due on a 66-day loan of $1500 if the interest rate is 3%. (Round your…

A: Calculate the simple interest due on a 66-day loan of $1500 if the interest rate is 3%. (Round your…

Q: Calculate the simple interest due on a 45-day loan of $1600 if the interest rate is 8.7%

A: P=principle=1600r=interest rate=8.7%=0.087t=time=45 day=45365 yearI=interest

Q: What is the mortgage amount for a house showing closing costs for a purchase of $212,000 requiring a…

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Q: If the simple interest on $3,000 for 7 years is $1,050, then what is the interest rate? The rate is…

A: We need to solve it by the basic formula of simple interest.First we need to specify the given…

Q: Jeffery Wei received a 6-year non-subsidized student loan of $32,000 at an annual interest rate of…

A: Consider the provide question, Given, P = $32,000 Annual interest rate = 5.3% We first find the…

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

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Q: When you were born, your grandfather established a trust fund for you in the Land Bank of the…

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Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Find the savings plan balance after 1515 months with an APR of 55​% and monthly payments of…

A: We have to use the formula  Where P=payment= 250250 n= number of months=1515 i= interest rate=…

Q: Jeffery Wei received a 7-year non-subsidized student loan of $31,000 at an annual interest rate of…

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

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Q: Find the ending balance: $1,500 for 22 years at 9% annual compound interest

A: Compound interest is calculate as: A = P(1+r)t A = final amountP = principal amountr = interest…

Q: (a) What is the rebate fraction of a 36 month loan paid off after the 13th payment?

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

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

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Q: 4. Joe buys a new laptop for $675 and pays for it over two years with 3.% simple annual interest.…

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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: What is the simple interest on P125, 000 at 8 3/4 % for 36 months?

A: Solution

Q: What price should you be willing to pay for the following bond? 5 year $5000 bond; interest at 3.5%

A: Recall the following fact.

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

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Q: mortgage, what is the total amount of interest? *

A: Here total interest paid = total payments-borrowed amount

Q: Find the simple interest rate of the principal of Php. 15,000 with simple interest of Php. 30,000…

A: Given Principal (P)= Php15000 Simple interest (SI)= Php30000 Time (T) = 5 years

Q: 1. You take out a quick pay day loan for $2000 to cover your December rent and utilities. If the…

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Q: Tom and Linda have been approved for an $185,000, 15-year mortgage with an APR of 5.35%. What will…

A: Since the given term is APR then we have to compute simple interest. The formula for simple interest…

Q: You have the option to take out a 30 year mortgage with an APR of 4.9% what will your monthly…

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

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Q: Consider a 30-year fixed-rate home loan of $545,500 with an interest rate of 4.25%. What is the…

A: We need to find out the total interest paid.

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: payday loan store charges $50 for a one-month loan of $180. What annual interest rate is this…

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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: Consider a 30-year fixed-rate home loan of $595,500 with an interest rate of 3.25%. What is the…

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Q: Find the balance in an accou interest rate of 3.8% per yea

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Q: The principal is $3,000,000. Mortgage payments are paid monthly. Compare the mortgage payments for a…

A: Since we know the principal value is 3000000, we can say that the present value for both the…

Q: 398 wit

A: In this question, the concept of Simple Interest is applied. Simple Interest Simple interest is…

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

A: Given: Loan Amount=$30,000 Annual interest rate=i=5.4%=0.054 Finance period=7 years Loan is non…

Q: (a) What is the rebate fraction of a 36 month loan paid off after the 15th payment ? (b) what is…

A: (a) Consider that a loan for 36-month is paid off after the 15th-payment. Compute the remaining…

Q: Jeffery Wei received a 6-year non-subsidized student loan of $30,000 at an annual interest rate of…

A: Given problem Given that   Jeffery Wei received a 6-year non- subsidized student loan of $30,000…

Q: Complete the table. Principal rate time interest $4,000 6% 3 yr $ Account 1 2 yr 2$ Account 2…

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Q: What equivalent interest rate that corresponds a discount rate of 9.98% for 700 days?

A: Given: Let us determine the equivalent interest rate for a 9.98% discount rate over 700 days

Q: On May 28, 2020, Amy purchased a Government of Canada T-bill that matures on August 4, 2020. How…

A: Future value is $10,000 Rate of interest 1.35%

Q: (a) What is the rebate fraction of a 36 month loan paid off after the 13th payment? (b) What is the…

A: Use the Formula of rebate fraction to solve this problem.

Q: Consider a 30-year fixed-rate home loan of $415,500 with an interest rate of 3.375%. What is the…

A: Given that  Fixed rate P=$415500 Rate of interest R=3.375% Time T=30 years let total amount after 30…

Q: Jane Windsor financed a $5,900 ski boat with a 12% add-on interest installment loan for 12 months.…

A: Ski boat cost=$ 5900Down payment need to pay on purchase=10100x5900=$590∴Remaining principal…