A friend loaned some money. The debtor is scheduled to pay him $579 in 3 months. The friend needs money now, so you agree to pay him $521. What is the annual interest rate you will earn? Express Final answer in decimal rounded off with 4 decimal places

Q: $1,000 at 8% for 5 years?

A:

Q: Ari wants to save up to buy a new computer, which costs $1,100. She received $500 for her graduation…

A:

Q: Margo borrows $800, agreeing to pay it back with 3% annual interest after 9 months. How much…

A: Simple interest formula: The simple interest formula is given by, I=P×r×t, where P is principal, r…

Q: Fritz buys a car costing $10,500. He agrees to make payments at the end of each monthly period for 8…

A: P = 10500 r = 9.6% = 9.6/100 = 0.096 t = 8

Q: Joseph Abruzzio decides to divide a gift of $6000 into two different accounts. He deposits $2000 in…

A: Consider the given informationTotal amount =6000$Deposit amount in IRA = 2000$ with interest rate of…

Q: Joaquin pawns his favorite watch for a loan of​ $120. After 30​ days, he buys his watch back for​…

A: Given P = $120, A = $140 and T = 30.

Q: A business analyst starts at $45,000. She receives a 5% raise at the end of each year. What is her…

A: P=$45000Rate = R= 5% =0.05Time=t=6 years

Q: Find the commission on a diamond that is sold for 6,700 when the commission paid is 4%

A: We have to find the commission price

Q: You have $400,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

A:

Q: A professional baseball team signs a player for $800,000. His salary increases by 5% each year. How…

A: Here initial salary (P)= $800,000 Increment rate (r)= 5%=0.05 Final salary (A)= $6 million = $…