Amanda’s credit card APR is 19.77% compounded daily. What is her actual interest rate per year?     21.15%     21.85%     20.98%     19.77%

Q: A $2200 bond earns 9.3% compounded monthly for 9 years. Determine the amount of the investment at…

A: A $2200 bond earns 9.3% compounded monthly for 9 years.

Q: Sarah deposited $6,800 in an account paying 2.5% per annum compounded semi-annually. How much will…

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Q: Phil Nelson deposited $540,000 into an account with an interest rate of 4.5% compounded quarterly.…

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Q: Charley’s credit card APR is 28.95% compounded daily. What is her actual interest rate per year?

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Q: You began saving for retirement at age 25 by contributing $550 per month at an APR of 6% compounded…

A: You are depositing $550 per month You deposits a total of 40 years.

Q: amanda is taking a 16,655, 5 1/2 year car loan. with an APR of 4.45%. how much will amanda pay in…

A: We are asked to find the interest amount of the loan.

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: $10,000 is invested for 10 years with an APR of 2% and quarterly compounding.

A: Given information P=$10,000 Rate of interest r=2%  ⇒r=2100=0.02 Time t=10 years For quarterly…

Q: On February 1, 2020, you put $1500 into a TFSA (savings account) at a rate of 2.1% /annum. What…

A: To calculate the interest earned on your TFSA savings account, we can use the formula for simple…

Q: You take out a loan to purchase a car for $7600. The bank offers you 3.8%, compounded monthly for 4…

A: Interest = $ 26525.22

Q: Rachel deposits $12,000 into a fixed asset account that earns 6% compounded quarterly. What is…

A: Formula:      where FV = Future Value          PV = The principal amount (the initial amount of…

Q: Jennifer earned $ 42.55 interest over the period of 146 days on a term deposit that pays 5.75 % per…

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Q: 4. Maryam has $6800 in a daily-interest savings account. The account pays an annual interest rate of…

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Q: Kelly paid off his student loan in 3 years by making payments of $650 at the beginning of every…

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Q: Brad invests $6,700.00 in an account paying 6% compounded monthly. How much is in the account after…

A: Given that Brad invests $6700.00 in an account paying 6% compounded monthly. Find how much is in the…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: Mitchell invested $4583 at 5.61% compounded quarterly. Calculate the accumulated value of the…

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Q: Shannon finances her new car with a $9,900 auto loan. The loan has a 5-year term at a fixed annual…

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Q: suppose you borrow 865 for aterm of three years at simple interest and 5.46% apr. determine the…

A: Given that  Borrowing amount 865 Time period 3 years  Rate of interest 5.46%

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: Your grandma invested some money 64 years ago into an account earning 2.91% per year, compounded…

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Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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Q: A savings account that has 850$ deposited on march 1st earns 0.4% annual interest compounded daily.…

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