A credit card statement balance for June (30 days) is $500 and it is overdue b days. The credit card company charges an interest rate of 14.9% annual inter Calculate the following: i) What is the daily interest rate, to 4 decimal places? ii) Calculate the total amount of the credit card bill, including interest, for June

Q: mple mteiest was eanmed of deposit earned an interest rate of %.

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

Q: Michael Jamison's bank calculates interest on a daily basis. Complete the follow interest…

A: We will solve the following

Q: w much amount Sara should deposit in an account at 8% to earn an interest of OMR 1200 after 2 years?…

A: Rate of interest =8%, time= 2 years,  S.I.= 1200.  To Find the deposit amount..

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: Austin's investment in his savings account matured to $4,438.35 at the end of 70 days. If the…

A: We will find the solution in the following step.

Q: The price of a condominium is $146,000. The bank requires a 5% down payment and one point at the…

A:

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: An individual borrowed ​$78,000 at an APR of 3​%, which will be paid off with monthly payments of…

A:

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Megan held a loan of $2,500 for 8 months and was charged interest of $181.67. What was the annual…

A: The objective of this question is to find the annual simple interest rate on a loan. The simple…

Q: How much will be charged in prepaid interest on a $500,000 loan with an APR of 3.725% that was…

A: Definition- Prepaid interest is defined as the charges due at closing for any daily interest that…

Q: You can afford a $950 per month mortgage payment. You've found a 30 year loan at 7% interest…

A:

Q: An individual borrowed ​$78,000 at an APR of 3​%, which will be paid off with monthly payments of…

A: HERE GIVEN MONTHLY PAYMENT IS MADE FOR 22 YEARS IT MEANS 12 PAYMENTS PER YEAR. AND OTHER DETAILS ARE…

Q: You deposit $300 each month into an account earning 4% interest compounded monthly. Round to the…

A: a) P=$300 r=0.04 n=12 t=20 So,

Q: How much interest is owed on a 9-month, $5550 loan borrowed at 7.25% simple interest?

A: Given the Principal amount P= $5550 Rate of interest =7.25% =0.0725  Time, t=9 months = 912=0.75…

Q: Bryan borrowed Php10,000 and agreed to pay a total of Php15,000 at the end of 20 months. At what…

A: Total borrowed Php 10,000 Total payout Php 15,000 Total time 20 month

Q: Your total payment on a 7 year loan, which charged 6% annual simple interesr , amounted to $60,860.…

A: Given information -  Time period of the loan = 7 year. Rate of simple interest = 6% Total amount…

Q: much is the monthly payment?

A: To find the monthly payment.

Q: Rebecca took a demand loan of $4000 for university supplies on September 1st at a rate of 5%…

A: Given: P(amount of loan)=$4000, r(interest rate)=5%, t(time period)=first September to first…

Q: The monthly payment is ​$    enter your response here. ​(Round to the nearest cent as​ needed.)

A: Step 1: Identify the givenCost of the Car = $ 26,635Down payment = $ 5,000 (to be deducted from the…

Q: Assume a six-month CD purchased for $5000 pays simple interest at an annual rate of 9.5%. How much…

A: