Find the amount due if $200 is borrowed for 4 months at 17% simple interest

Q: What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%?

A: Simple interest is a simple method of computing interest on savings or borrowings. It is a rate that…

Q: Find the Simple Interest on a $ 50,000 loan at 15 ½2 % annual interest for ¾ year.

A: The simple interest is based on the amount of loan (P), the given interest rate (r), and the number…

Q: Find the interest paid on a loan of $2,700 for one year at a simple interest rate of 11% per year.…

A: Simple interest = Principle × rate × time

Q: Assume you take out a $2000 loan for 30 months at 9% APR. What is the monthly payment? (Round your…

A: Monthly payment is present value amortised for with equal instalment. r is interest rate APR and n…

Q: If $14,000 is borrowed for 2 months and $82 is paid, then the annual simple interest rate is ____

A: Interest = p * r * t Interest = $82 principal = $14,000 r = rate of interest  t = time in years = 2…

Q: The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple…

A: We need to use simple interest formula to calculate the simple interest. The formula is Simple…

Q: What is the total interest paid on a loan of $5,000 at APR = 10% for one year.

A: Loan amount = $5000 Interest rate = 10% Period = 1 year

Q: If you borrow $7,500 at $550 interest for one year, what is your effective interest rate for the…

A: The effective rate of interest refers to the return on savings or interest on the investment…

Q: What is the total interest paid on a loan of $5,000 at APR = 8% for one year.

A: Loan amount (LV) = $5000 Interest rate (r) = 8% Period (n) = 1 Year

Q: Find the annual simple interest rate of a loan, where $300 is borrowed and where $315 is repaid at…

A: Simple interest is an amount of interest that is paid on the principal portion of a loan or deposit.

Q: Calculate the amount of interest that will be charged on $6290 borrowed for 2 months at 10.1%.…

A: Amount Borrowed (P)=$6290Interest Rate (R)=10.1%Time in months (T)=2 monthsRequired:Simple Interest…

Q: Find the amount due if $800 is borrowed for 18 months at 18% simple interest.

A: Amount borrowed (P) = $800 Period (n) = 18 months Interest rate (r) =0.18 Amount due = ?

Q: Find the amount (in $) of interest on the loan.

A: Interest: It refers to the monetary charge paid by the borrower to the lender for taking a loan. It…

Q: onsider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using…

A: Equated Monthly Installments are one part of the equally divided monthly outgoes to clear off an…

Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 3 years

A: Compound interest is the interest on a loan or deposit calculated based on both the initial…

Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 5 years.

A: Compound Interest = P(1+r/n)^nt - PWhere P = Principal = $5,000R = Rate on interest = 6%N = number…

Q: Amount Rate Time ​$63,000 12​% 3 years table of monthly payments on a​ $1,000…

A: Loan amount (PV) = $ 63000 Annual interest rate  = 12% Monthly interest rate (R) = 12%/12 = 1%…

Q: Find the payment necessary to amortize a 4% loan of $900 compounded quarterly, with 15 quarterly…

A: Quarterly compounding is a form of compounding in which interest is earned every quarter and such…

Q: What is the total amount that must be repaid on the following note $8,543 borrowed at 14.5% simple…

A: Simple interest is interest without compounding.

Q: A loan of $5000 earns $750 interest in 1.5 years. Find the rate of interest.

A: Interest amount = Principal * Rate * Time duration

Q: FIND THE SIMPLE INTEREST ON A 50,000 LOAN AT 14 1/2% FOR 7 MONTHS.

A: Simple rate of interest = 4,229.17

Q: Calculate the amount of interest that will be charged on $17120 borrowed for 6 months at 8.7%.…

A: GivenPrincipal (amount borrowed) = $17,120Rate (annual interest rate) = 8.7% or 0.087 (as a…

Q: Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $70,000 5 4 1 2…

A: The interest is the amount that is received or paid on the principal amount for the specified time…

Q: Suppose you take out a loan for $7,000, at 12% ordinary interest. If the amount of interest is $672,…

A: Principal Amount = p = $7000 Interest rate = r =  12% Interest amount = i = $672

Q: Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments.…

A: Annual  Payment  = P * r * [(1+ r)n/({1 + r}n -1)]Where, P = Principal borrowed =  $14,000r =…

Q: What is the interest if $200 is borrowed for 24 months at 10% simple interest? Interest = $

A: Given Principal = $200 Rate = 10%

Q: What is the total interest paid on a loan of $5,000 at APR = 6% for 4 years.

A: Loan amount = $5000 Interest rate = 6% Period = 4 Years

Q: For a personal loan amount of $5,000 @ 10.5% APR due in nine (9) months, a) what is the total…

A: Loan = 5000 Annual Percentage Rate = 10.5% N = Time Period = 9 months

Q: Find the present value (principal) to pay on a loan if $ 8,923 of future value (amount) is paid at…

A: Future value = Present value * (1 + rate*time)

Q: Consider a loan of 800,000 which is to be amortized by 60 monthly payments. The interest rate is 12%…

A: Solution:- When an amount is borrowed, it can either be repaid as lump sum payment or in…

Q: An amount of P dollars is borrowed for the given length of time at an annual interest rate of r.…

A: Principal amount is $3200 Interest rate is 9% Time period is 3 months To Find: Simple interest

Q: Find the amount due if $100 is borrowed for 11 months at 5% simple interest.

A: Interest can be charged using two methods: Simple Interest refers to interest charged on principal…