A young entrepreneur borrowed $4000 to start a small business. The interest rate on the loan was 8% per year, compounded monthly. The borrower is expected to repay the $5,502.66 loan in 4 years. F = a(1+b) ^2 Identify the values of the variables (letters) a, b and c.

Q: tractor cost 9950 and depreciates in  value by 14 % per year how much will the tractor be worth…

A: Given query is to find the value of tractor after 112 years.

Q: A car purchased for $25,700 depreciates at a constant rate of 3% each year. How long will it take…

A: given P=25700r=-3%=-3100=-0.03 (-ve sign because of depreciates)A=P(1+r)t A=25700(1-0.03)t…

Q: You have $10,000 to deposit in a savings account that earns simple interest at a rate of 4.5% per…

A:

Q: A web designer that pays an hourly wage of $35. The job assumes five 8-hour days per week. for 48…

A: To determine the annual income of the designer, first we have to calculate the weekly income of the…

Q: Donald owes the bank $9450. To repay his debt, he paid a fixed amount back to the bank each month.…

A:

Q: Margo borrows $100, agreeing to pay it back with 6% annual interest after 16 months. How much…

A:

Q: Suppose that you borrow $12,000 for five years at 8% toward the purchase of a car. Use PMT= interest…

A:

Q: simple

A:

Q: Assume that a car loses 10% of the value it had at the beginning of the year. Find its value at the…

A: Given the initial value of the car at the start of the year is $30,000. The car loses 10% of the…

Q: Which expression shows the value of a $ 2500 investment after it has grown by 4.5% per year for 12…

A:

Q: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

A: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

Q: Joe invested 7,000 into a mutual fund to save for a new car. The mutual fund compounds quarterly…

A:

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: We invest $4000 in an account that pays simple interest of 3% each year. How much interest is earned…

A: Let, P = initial  amount r = annual  interest  rate t = time ,then the simple  interest  formula…

Q: An investment of $1500 paid interest of $120. How much interest would $2000 invested at the same…

A: Let x represents the interest paid for the investment $2000. Given that, the interest paid for the…

Q: Sam invests $1000 into an account earning 5.25% interest compound quarterly. How long will it take…

A: