$1,900 was borrowed at a simple interest rate of 2.9%. What amount of interest would be owed after 6.5 years? $329.98 $358.15 $350.76 $300.14

Q: Mr. oniel borrows $750 for 4 months at 6% interest how much interest does he pay.

A: Given,            Mr. oniel borrows $750 for 4 months at 6% interest.To find : How much interest…

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

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Q: Sam borrows $28 000 to buy a new car at a flat interest rate of 9% per annum over 3 years. How much…

A: It's a question of flat (simple) interest rate. We will calculate interest, add the same to the…

Q: Tuition of $1830 will be due when the spring term begins in 6 months. What amount should a student…

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Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

Q: ow much interest is charged when ₱50, 000 is borrowed for 9 months at an annual interest rate of…

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Q: If $10,500 is borrowed for 5 years at an annual simple interest rate of 1.73%, how much interest…

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Q: You know you will have $1,000,000 in your account when you retire. You want to be able to take…

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Q: mple mteiest was eanmed of deposit earned an interest rate of %.

A: In this question, the concept of Simple Interest is applied. Simple Interest Simple interest is a…

Q: fi

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Q: what lump sum do parents need to deposit in an account earning 7% compound monthly so that it will…

A: Here r=7%=0.07, n=12 ,A=$100000, t=15. Let parents need to deposit the lump sum $P We find P.…

Q: You take a loan from your local bank. Determine the interest that is accrued on $7000 for five years…

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Q: Find the simple interest (in dollars) due on a 31-day loan of $950 if the annual simple interest…

A: The provided information is as follows:The principal amount is .The total number of days is .The…

Q: You deposit $400 each month into an account earning 7% interest compounded monthly. a) How much…

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Q: You purchase a new car for $19,500.             If you borrow $19,500 for 5 years with an interest…

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Q: Jeremy has a credit card with an unpaid balance of $1,210. If he is charged an interest rate of…

A: The objective of this question is to calculate the finance charge for the month on Jeremy's credit…

Q: Find the interest due on $1,400 at 9% for 270 days

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Q: 36,000 is invested at 5.5% compounded annually for 8 years. a. Find the final amount b. Find the…

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Q: Kevin takes out a $350 000 mortgage for 30 years at 2.05% annual interest compounded quarterly. His…

A: The EMI i.e. the monthly payment required to be done by Kevin includes the interest component to be…

Q: Find the simple interest of $1,000 borrowed at 6% for 4 years.

A: Given: The principal amount = $1000. The rate of interest = 6%. The time =4 years.

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 9% interest. How…

A: Given, Future value (FV) = $800,000 Rate of interest (r) = 9% Time (t) = 30 years n = 12 ( months)…

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: We know that Simple interest = PTR/100 Here Time is 7 years and Rate is 6%  Amount is 20000$. Amount…

Q: You owe $2300 on a credit card with 21% APR if you want to pay it off in 18 months, how much would…

A: Loan amortization formula is  A=Pi1+in1+in-1 Where A is periodic payment amount, P is loan amount,…

Q: How much interest is owed on a 9-month, $5550 loan borrowed at 7.25% simple interest?

A: Given the Principal amount P= $5550 Rate of interest =7.25% =0.0725  Time, t=9 months = 912=0.75…