Debt payments of $1,600 and $1,850 are due in five months and nine months, respectively. What single payment is required to settle both debts in one month? Assume a simple interest rate of 4.60% p.a. and use one month from now as the focal date. Round to the nearest cent
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- Q.2 The sum of $1000 is deposited every year at 8% simple interest. Calculate the interest at the end of cach year. Do these interest amounts form an A.P?. If so,find the total interest at the end of 30 years. Q.3 A ladder leans against a brick wallI. The foot of the ladder is 6 feet from the wall. The ladder reaches a height of 15 feet on the wall. Find to the nearest degree, the angle the ladder makes with the wall.Question 4 A vehicle purchased for $32,500 depreciates at a constant rate of 4%. Determine the approximate value of the vehicle 11 years after purchase. Round to the nearest whole dollar.A company received a loan of $28,500 from a bank that was charging interest at a rate of 3.75% compounded quarterly. a. Calculate the accumulated amount of this loan at the end of 8 years and 9 months. Round to the nearest cent b. Calculate the interest charged on this loan. Round to the nearest cent SAVE PROGRESS -3°C
- Assume that there are no deposits or withdrawals.$6,000 is invested in each of two accounts, both paying 4% annual interest. In the first account, interest compounds quarterly, and in the second account, interest compounds daily. Find the difference between the accounts after 25 years. (Round your answer to the nearest cent. Assume 365 days in a year.)The present value of $1500 in 6 months at 5% simple interest rate is $ Round answer to the nearest cent. No comma. No $ sign.Question 22 A young professional wishes to have $860000 in her retirement account. She invests $700 monthly in the account which earns 8.7% annually. Find the number of payments needed to reach her goal. > Next Ouestion
- Question 5 Jean buys a $64,000 caravan by paying a deposit of $14,000. For the balance, she takes a loan and pays it off with monthly payments of $1,250 over 4 years. Calculate the balance owing after the deposit is paid. a b Calculate the total amount of interest paid. Calculate the annual flat rate of interest on the loan.Question 3 of 10 Calculate the amount of money that was loaned at 3.00% per annum for 3 years if the simple interest charged was $675.00. $00 Round to the nearest cent1) Calculate the simple interest earned. Round to the nearest cent. P = $8300, r = 9%, t = 1 year 2)Calculate the simple interest earned. Round to the nearest cent. P = $6,000, r = 6.9%, t = 8 months
- QUESTION 19 For the given principal, interest rate, and time period, determine the amount of interest that would be earned in an account paying simple interest. Also determine the amount of interest that would be earned in an account paying compound interest with interest compounded annually. Determine how much more interest would be earned in the account paying compound interest. Round to the nearest cent. Principal: $7604 Rate: 2% Years: 10 O $6227.63 O $144.43 O $7748.43 O $114.76Assume that Bob deposited $3,000 per year in a bank account. Since the bank offered a compound interest rate of 10%, the balance in the account after a certain number of years showed $75,000. How many deposits did he approximately make?A loan of $14400 is to be repaid in the end-of-the-quarter payments of $600. How many payments are required to repay the loan at 10.5% compounded quaterly.