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A: Compounding interest is a type of interest calculation where the interest earned on a principal…
Q: Kathy buys a tv set fir 12,500 cash after 60 days. Kathy wishes to pay immediately and the seller…
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A: Here we calculate the annual deposit amount by the following method as follow;
Q: If your receive $500 in simple interest on a loan that you made for $10,000 for 5 years, what was…
A: here we calculate the interest rate charged which are as follow-
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Q: f you deposit $10000 into a fund paying interest 6%. How much you get after one yea
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Q: What is the U.S 6 month interest rate?
A: In the mentioned question we have been asked about the 6-month interest rate of the U.S.
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A: Simple interest is a method of calculating interest that ignores the impact of compounding.Simple…
Q: A certain amount of money doubles after 9 years. Determine its effective interest.
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Q: a
A: An income annuity allows for conversion of part of retirement funds into a stream of guaranteed…
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Q: Ron invest $2000 in a savings account that gives him a simple interest rate of 6% for 3 years. A.…
A: The simple interest method ascertains the interest an individual will earn on an investment at some…
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- You can afford a $800 per month mortgage payment. You've found a 30 year loan at 7% interest. a) How big of a loan can you afford? b) How much total money will you pay the loan company? c) How much of that money is interest?Assume, you want to get $1,000 after 5 years. How much equal amount of money do you need to deposit in an account that earns 12% annual interest to get that money? Check you answer with interest table.What is the U.S 6 month interest rate?
- A set aside $500 annually in a trust fund which allows interest at 5% effective. What amount does A have to his credit just after the 15th deposit has been made?How much will a bank deposit of $2,000 that pays 10% compound interest be worth at the end of 3 years?b. How much would you expect to pay per month on a $20,000 auto loan if you pay the loan back for 48 month and pay 10% interest?
- Ron invest $2000 in a savings account that gives him a simple interest rate of 6% for 3 years. A. how much interest the investment earns and B. how much money he has after 3 years?You can afford a $350 per month car payment. You've found a 3 year loan at 6% interest. How big of a loan can you afford?Kathy buys a tv set fir 12,500 cash after 60 days. Kathy wishes to pay immediately and the seller needs to compute the cash price on the assumption that money is worth 8% simple interest. What is the cash price today?
- A certain amount of money doubles after 9 years. Determine its effective interest.1) You have a goal of saving $1500 over 6 years. Assuming bank interest rates are 5%, What annual deposit amount must be saved1. You borrow $20,000 from a family member and agree to pay it back in 6 months. Because you are part of the family, you are only being charged simple interest at the rate of 0.5% per month. How much will you owe after 6 months? How much is the interest?
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