A guy named Stranger Thing can afford to pay $545 each MONTH for the next 6 years to pay towards a strange house. The interest rate is 6.1% compounded monthly. What is the value of the house that he can afford today?   $8,808.66   $32,791.55   $47,240.14   $2,671.54

Q: You borrow $950 from your brother and agree to pay back $1000 in 19 months. What simple interest…

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Q: Some amount out of $7000.00 was lent at 6% per annum and the remaining at 4% per annum. If the total…

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Q: Angela deposits $⁢5500 into an account with an APR of 2.4% for 7 years. Find the future value of the…

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Q: Jenny invests $9,000 at 8% compounded annually in an annuity. How long until Jenny has $18,000

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Q: Derek and Claire plan take out a loan to purchase a new home. They take out a 20-year loan at 3.6%…

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Q: George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it…

A: Given: Initial amount = 4200 rate of interest = 7.5 monthly Final amount  = 5000 Now, we need to…

Q: Melanie places $5,000 into an account that earns 6% interest compounded daily. Approximately six…

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Q: If I can afford $420 a month for a car over the course of 6 years with an interest rate of 6.9% how…

A: If I can afford $420 a month for a car over the course of 6 years with an interest rate of 6.9% To…

Q: John got a part time weekend job at a local restaurant to save for a new car. He plans on depositing…

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Q: Karen wishes to have $17,730 cash for a new car 5 years from now.  How much should be placed in an…

A: Given: Karen wants $17,730 after 5 years. The interest is compounded weekly with a rate of 6%. To…

Q: You can afford monthly deposits of $170 into an account that pays 2.7% compounded monthly. How long…

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Q: Jackson is trying to determine how to invest $10,000 that he inherited from his uncle Eddie.  He has…

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Q: Find the simple interest of $1,000 borrowed at 6% for 4 years.

A: Given: The principal amount = $1000. The rate of interest = 6%. The time =4 years.

Q: Suppose that you borrow ​$3000.00 from a friend and promise to pay back ​$4755.00 in 3 years.…

A: It is given that the principal is 3000, balance is 4755 and time is 3 years. The formula to evaluate…

Q: Angela deposits $⁢5500 into an account with an APR of 2.4% for 7 years. Find the future value of the…

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Q: find simple interest on $1250 for 10 months at 12%

A: To find simple interest on $1250 for 10 months at 12%

Q: Grandma Riley wants to help Scott while he's in college by giving him a S220 monthly allowance for 5…

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Q: A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in…

A: First, always look for what you are asked to find. Here it is how much you must put into a CD.…