A loan for $3,500 with a simple annual interest rate of 18% was made on June 30th and was due on August 28. Find the ordinary interest.

Q: Your local credit union is offering a certificate of deposit at 5% annual interest. What will be the…

A: Your local credit union is offering a certificate of deposit at 5% annual interest. We need to find…

Q: My first 30-year fixed mortgage was for $200,000 at 6.25%. Determine my monthly mortgage payments.

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Q: find the monthly mortgage loan payment for a $187,000 loan at 4.0% for 20 years.

A: The objective of this question is to calculate the monthly mortgage payment for a loan of $187,000…

Q: What interest rate was applied if a loan of ₱65,468 will amount to ₱125,000 borrowed for 2.5 years…

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Q: Joe Borowski invested $10,500 in a mutual fund one year ago. During the year, his fund increased in…

A: Given data: The amount invested by Joe in a mutual fund is P=$10,500. The interest gained by Joe is…

Q: Mark paid Php. 12,000 after 2 years for barrowing Php. 10,000. What is the simple interest rate…

A: Given: Total Amount Paid A=12000Time T=2 yearPrincipal Amount P = 10000Rate of Interest = ?

Q: Compute the amount of interest for $577.00 at 9.38​% p.a. from December 29, 2006 to January 18,…

A: In the question it is asked to calculate the amount of interest from the given data given. Principle…

Q: Nina and Michael have been approved for a $300,000 30-year mortgage with an APR of 5.25%. How much…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: Mr. Dan Dapper received a statement from his clothing store showing a finance charge of $2.30 on a…

A: Given Information - Finance charge on previous balance = $2.30 Previous Balance = $100 We have to…

Q: What would be the monthly payment on an add-on loan from a credit union at 6% over 36 months for the…

A: I solved with detailed analysis

Q: Three years ago, Pete took out a loan of $55,000.  The loan was taken out for 10 years with an…

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Q: The simple interest due on a 2.5-year loan of $8,500 is $1,062.50. Find the monthly payments on the…

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Q: Mrs Angngad acquired a loan of P50000 from a credit union that charges interest of 16% compounded…

A: From the given information we find the quarterly payment.

Q: Mr. Dan Dapper received a statement from his clothing store showing a finance charge of $2.10 on a…

A: Solution is given below:-

Q: The father has just donated $25,000 to a church. His son would like to donate an equivalent amount,…

A: Given;  Principal =$ 25000 Time = 5 years  Rate = 8.2%.

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: A loan for $5,000 with a simple annual interest rate of 20% was made on September 13th and was due…

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Q: Your total payment on a 4-year loan, which charged 8.5% simple interest, amounted to $70,160. How…

A: The objective of this question is to find out the original amount borrowed given the total payment…

Q: Eight years ago, Natalia purchased a 8.25% bond for $1,000 plus brokerage fees totaling $150.…

A: The objective of this question is to calculate Natalia's rate of return on her bond investment. The…

Q: A debt of P20, 000 is due on December 1, 2020. What was the value of this debt on December 1, 2018…

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Q: A mortgage of $100,050 is repaid in 240 monthly payments of $900. Determine the monthly rate of…

A: A mortgage of $100,050 is repaid in 240 monthly payments of $900. Therefore the total amount of…

Q: Your total payment on a 4-year loan, which charged 8.5% simple interest, amounted to $70,160. How…

A: The objective of this question is to find out the original amount borrowed for a loan, given the…

Q: Calculate the value gained from depositing 12 regular installments into a bank, as the amount of…

A: S = P × (([1 + i]n – 1) / i) × (1 + i). Here, S is the final amount of maturity. P is the amount…

Q: What is the monthly payment on a 25 year loan of $67,800 if the annual interest rate is 5%?

A: We have Principal loan amount, P = $67,800 Annual interest rate r = 5% = 0.05 Number of monthly…

Q: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

A: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

Q: What is the simple interest on ₱12,500 at 8% for 9 months?

A: Formula for simple interest is as follows : I = P×R×T Where , P  is principal amount. R is Interest…

Q: For a loan of $24,000 at a fixed APR of 8% for 15 years, find the monthly payment.

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Q: Kent borrowed $6,500 on January 11 at 12.5% exact interest. He made payments of $1,000 on February…

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Q: A loan of P95,000 is borrowed for 240 days at a simple interest rate of 12.3 percent per year. What…

A:

Q: Eight years ago, Natalia purchased a 8.25% bond for $1,000 plus brokerage fees totaling $150.…

A: The objective of this question is to calculate Natalia's rate of return on her bond investment. The…

Q: Eight years ago, Natalia purchased a 8.25% bond for $1,000 plus brokerage fees totaling $150.…

A: The objective of this question is to calculate Natalia's rate of return on her bond investment. The…

Q: Mitchie borrowed $23,000 from Meridian Credit Union at 4% per year and agreed to repay the loan in…

A:

Q: What is the rebate fraction of a 42 month loan paid off after the 16th payment

A: We know that, Rebate fraction= sum of digits for number of payments remaining / sum of digits for…

Q: Calculate the value gained from depositing 12 regular installments into a bank, as the  amount of…

A:

Q: A loan for ​$3,500 with a simple annual interest rate of 8​% was made on June 26 and was due on…

A: From the given data,  The principal, P=$3,500 Rate of interest, R=8% Time, number of days from 26th…