Find the APR (rounded to the nearest percent) for the loan listed. Purchase of a refrigerator for $1,700 at 14% add-on interest for %

Q: Find T(v) by using the standard matrix and the matrix relative to B and B'. T: R² R², T(x, y) = (2y,…

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Q: Assume that T is a linear transformation. Find the standard matrix of T. T: R² R², first performs a…

A: First performs a horizontal shear that transforms e₂ into e₂+6e1, (leaving e, unchanged) and then…

Q: Boyd purchases a snow blower costing $1,772 by taking out a 15.5% add-on installment loan. The loan…

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Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: The simple interest due on a 2.5-year loan of $8,500 is $1,062.50. Find the monthly payments on the…

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Q: Lynn needs to borrow $5500 for cosmetic surgery. She obtains a loan from her grandmother for 48…

A: Given: Lynn borrows a loan for cosmetic surgery of $5500 at simple interest rate 7.3% for 48 months.

Q: Ben and Jane have been approved for a $320,000 loan, 30-year mortgage with an APR of 4.75%. What…

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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: Matt bought a boat for $15,000. This is a simple interest loan at 5.5% for 10 years. What is the…

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Q: Find the minimum payment on an unpaid balance of $1,416.02. Assume that the minimum payment on a…

A: Solution: Given, Unpaid balance = $1,416.02 The minimum payment on a credit card is the greater of…

Q: Find the monthly payment for the loan. Used car financing for $600,000 for 25 months at 11.75%.…

A: here we have to find the monthly payment for the loan. PV (present value of car) = $600,000 n(number…

Q: Determine the monthly principal and interest payment for a 20-year mortgage when the amount financed…

A: To calculate the monthly principal and interest payment for a mortgage,  using the standard formula…

Q: Suppose that you decide to buy a car for $32,635, including taxes and license fees. You saved $9000…

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Q: Use simple interest to find the ending balance: $6,400 at 3.9% for 5 years Show your work.

A: The given problem is to find the ending balance when $6400 at 3.9% for 5years by using simple…

Q: Used-car financing of $100,000 for 20 months at 8.75%. what is the monthly payment

A: Given: The principal amount to be financed is P=$100,000 for t=20 months at the interest rate of…

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: 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: 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: You have a $70,000  reducing balance loan at 7.5% per year. Monthly repayments are 850. What is the…

A: To calculate the total interest paid by the end of the second month on a reducing balance loan, we…

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

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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: A loan is used to purchase a new truck. the total price of the truck

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Q: Carlos Menton purchases a new laptop computer from Knox Computer Solutions for $1499. If the sales…

A: Given: Purchase price = $1499 Sales tax rate = 4.25% r = 8.4% = 0.084 t = 3  n = 12 Formula Used:…