Answer the following question. You borrow $3000 from a friend and promise to pay back $5460 in 4 years. What simple interest rate will you pay? 0.205% 2% 20.5% 10%

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

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Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: On September 12, Jody Hansen went to Sunshine Bank to borrow $2,300 at 9% A.P.R.  Jody plans to…

A: Consider the equation

Q: You have $3,500 on a credit card that charges a 13% interest rate. If you want to pay off the credit…

A: Credit amount Rate of interest Time period  year

Q: Find the monthly payment (in $) and the total interest (in $) for a mortgage of $42,000 at 52% for…

A:

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: You want to buy a $29,000 car. The company is offering a 4% interest rate for 36 months (3 years).…

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Q: Answer the following question. You borrow $3000 from a friend and promise to pay back $3270 in 1…

A: Formula for simple interest (SI) is: SI=P×r×t100 P: initial amount r: rate of interest (as percent)…

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: You have $400,000 saved for retirement. Your account earns 10% interest. How much will you be able…

A: Value(P) = $400,000  Interest (r) = 10%  = 0.10 Time (t)= 15 years  Payout annuity :  P = PMT * (1-(…

Q: Find the simple interest I of the given loan amount. (Round your answer to the nearest cent.)…

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Q: Find the simple interest. Principal   Rate   Time $4000   9%   1 year

A: Introduction :-  Here we want to calculate simple interest for the given situation.  Given :-…

Q: You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay…

A: The monthly payment is calculated using the formula: Monthly Payment=Loan amount×i1-(1+i)-n. Here, i…

Q: dx -1/2 V1-x2 Evaluate the following integral with (a) analytically, (b) Romberg integration (Es =…

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Q: You make a payment of $300 at the beginning of each month into an account that 3.6%annual interest.…

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Q: Find the interest for a principal of $8883, rate 9.3% and 5 years.

A: According to the question,  We have: Principal = P = $8883 Rate of Interest = R= 9.3% Time period =…

Q: You can afford a monthly payment of $375 for a new car loan.  You want the loan to last for 5 years…

A:

Q: You want to withdrawal $25000 a year for 20 years.  Your account earns 10% interest.  How much do…

A: Sol:- This is a classic example of a "present value of an annuity" problem, where we need to…

Q: You are in the market to buy a home.  You plan on borrowing $361,683 from the bank.  Interest rates…

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Q: o create a college fund for your child. Suppose you find a fund that offers an APR of 6%. How much…

A: We are given: APR=6%=0.06A=Amount after time t=$89000n=Number of months in a year=12Y=Number of…

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.…