Suppose that you borrow $20,000 for four years at 6% toward the purchase of a car. Find the monthly payments and the total interest for the loan. O $470; $22,560 $470; $2560 $1106; $33,088 $553; $26,544

Q: A loan is issued for $15,000 with a simple interest rate of 4% for 5 years. Calculate the interest…

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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: Calculate the simple interest earned. Round to the nearest cent. P = $5000, r = 3.3%, t = 22 days

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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: For the car loan described, give the following information. A newspaper advertisement offers a…

A: we have to find amount paid.

Q: Find the interest paid on a loan of ​$2300 for   two years at a simple interest rate of 10​% per…

A: Formula used: Simple interest formula: The formula for calculating the simple interest is I = Prt.…

Q: Find the capital value of an office building for which annual rent of $50,000 will be paid in…

A: we have to find the capital value of an office building for which annual rent of $50,000 will be…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $4000, r = 2.6%, t = 22 days

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Q: Ben and Jane have been approved for a $320,000 loan, 30-year mortgage with an APR of 4.75%. What…

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Q: mount must be set aside now to generate payments of $40,000 at the beginning of each year for the…

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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: Jungkook purchased a new car under these terms: 800,000 php downpayment and 17,500 php each month…

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

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Q: Find the total interest paid of the loan if the amount borrowed is OMR 25,000 at 5% interest for 8…

A: I am using Simple Interest formula for this. S.I.=(25,000*5*8)/100 S.I.=OMR 10,000

Q: Suppose that you borrow​$10,000 for three years at 6​% toward the purchase of a car. Find the…

A: Given query is to find the monthly installment an totay interest.

Q: Calculate the simple interest earned. Round to the nearest cent. P = $4000, r = 5.2%, t = 17 days

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

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Q: Find the savings plan balance after 12 months with an APR of 2​% and monthly payments of ​$100.

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Q: Jane needs to pay for car repairs and, to do so, decides to pawn her bicycle. The pawn broker…

A: The simple interest, I is calculated using the formula, I=Prt , where, P is the principal amount, r…

Q: Used-car financing of $100,000 for 20 months at 8.75%. what is the monthly payment

A: Given: The principal amount to be financed is P=$100,000 for t=20 months at the interest rate of…

Q: A payday loan company charges a $90 fee for a $600 payday loan that will be repaid in 20 days.…

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $4000, r = 7.5%, t = 23 days

A: Given P=4000$ r=7.5% t=23 days We know that simple interest I=P×R×N100 N=23365 Therefore,…

Q: Use the simple interest formula to determine the missing value. p= ?, r= 6%, t =9 months, i = $54

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Q: Calculate the simple interest rate when P=$3,600, I=$160 and t=4 months. Round to the nearest…

A: The simple interest, I is calculated using the formula: I=Prt, where P is the principal amount, r is…

Q: A person owes $1000 on a credit card that charges an interest rate of 2% per month. Complete this…

A: solutionGivenInterest rate=2% per monthowes=1000$

Q: What is the monthly interest payment for an account with a balance of $200.00 and an A.P.R. of 12%?…

A: We have to find

Q: Nabras borrows OMR 4800 for 10 months at a simple interest rate of 8% per year. Determine the…

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $9070, r = 4.25%, t = 6 months

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Q: If you lend $3100 to a friend for 15 months at 8% annual simple interest, find the future value of…

A: P=$3100r=8%⇒r=8100=0.08t =15 months⇒t=1512=1.25  in years   formula: I=Prt

Q: Janet’s payments on her $12,500 car are $420 a month for 3 years. Assuming that interest is…

A: Janet’s payments on her $12,500 car are $420 a month for 3 years. P = $12,500, t = 3 years & n =…

Q: In order to purchase a home, a family borrows $45,000 at an annual interest rate of 12%, to be paid…

A: In order to purchase a home a family borrows $45,000 at an annual interest rate of 12% to be paid…

Q: Zayn buys a new phone for $600 and pays for it over two years with 6.% simple annual interest. What…

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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: Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 9%…

A: Principal (Loan Amount) = $500 Rate of interest = 9% Amount (Loan repaid) = $537.5 We have to…

Q: If you borrowed $10,000 for 7 months at 17% annual simple interest, how much must you repay at the…

A: Solution: The objective is to find how much must you repay at the end of the 7 months

Q: Calculate the simple interest earned. Round to the nearest cent. P = $9030, r = 5.25%, t = 6 months

A: Given data is : P=$9030r=5.25%t=6 month=612 year=12 year To find the simple interest.

Q: Find the interest on the following loan. $1900 at 7.5% for 9 months The interest is $___

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Q: After paying his down payment, Leo takes out a $320,000 mortgage at 3.6% compounded monthly for 30…

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Q: A collector mae a $10,000 down payment for a classic car and agreed to make 18 additional quarterly…

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Q: Find the interest and the amount to pay back on the following simple interest loans $875 at 8.7% for…

A: We have given principal amount  , rate of interest and time period and we have to find out interest…

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given:  you borrow $10,000 for four years at 8% toward the purchase of a car To determine; The…

Q: Jack borrowed a $35,000.00 loan with a simple annual interest of 4.50%, what is the total amount he…

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $7,000, r = 6.6%, t = 4 months

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Q: If you borrow $4,000 for 4 years at an interest rate of 3%, how much TOTAL will you pay? * O $8000 O…

A: Given that P = 4000 R = 3% = 0.03 T = 4 Since We know that SI = PRT

Q: A college student receives an interestfreeloan of $8250 from a relative. The student will repay$125…

A: A college student receives an interest free loan of $8250 from a relative. The student will repay…

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given information Loan amount=$10,000 n=4 years For monthly payment, n=12×4=48 And r=8% ⇒r=8100=0.08…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $2100, r = 5.3%, t = 6 months

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Q: Find the amount to pay back on the following simple interest loans. (c). $2,900 at 8.5% for 4 yr.…

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Q: Find the amount of simple interest on a loan of $3,500 at 9 1/2% interest for 14 years.

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $2600, r = 8%, t = 1 year

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