Find the new balance, assuming that the bank charges 12% per month on the unpaid balance. Previous Balance New Purchases $300 $80 Payment $20 STEP 1: Find the unpaid balance after the payment is made on the previous balance. $ 270 X STEP 2: Calculate the amount of charge incurred by the unpaid balance. $ 4.05 X STEP 3: Find the new balance. $ 354.05 X

Q: Suppose you purchase a refrigerator for $1,275 and make payments of $59.91 per month for 2 years.…

A: We can solve this as follows:

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Q: A lump sum of 4190 dollars is invested in an annuity that pays 9.2 percent interest compounded…

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Q: The monthly payment is ​$    enter your response here. ​(Round to the nearest cent as​ needed.) The…

A: The formula used to calculate monthly payment is- PMT = (P*(R/n))/(1-((1+(r/n))^(-nt))) where,P =…

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Q: Find the simple interest I of the given loan amount. (Round your answer to the nearest cent.) $460…

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A: To calculate the amount of the minimum payment that goes toward reducing the principal on Jayden's…

Q: The credit card with the transactions described on the right uses the average daily balance method…

A: Given data is

Q: Find the amount (in $) of interest on the loan. Principal Rate (%) $50,000 Alw 5- Time 6 months $…

A: Interest = (Principal * Interest Rate * Time) / 100Given:Principal = $50,000Interest Rate = 23/4% =…

Q: Previous Balance   Payment   New Purchases $300   $50   $80 STEP 1: Find the unpaid balance…

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

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Q: After retiring, you want to be able to take $1000 a month for a total of 15 years from your…

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Q: Find the new balance, assuming that the bank charges  1 1 21 1/2 percent   per month on the unpaid…

A: Given information:  Previous Balance: $300 Payment: $20 New Purchases: $80 To find:  a) Unpaid…

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:…

Q: Suppose that you borrow $20,000 for four years at 6% toward the purchase of a car. Find the monthly…

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Q: Find the APR of the loan given the amount of the​ loan, the number and type of​ payments, and the​…

A: Image is attached with detailed solution.

Q: Use PMT = . Round to the nearest dollar. Suppose that you borrow $10,000 for four years at 7%…

A: To Find: The monthly payments and the total interest for the loan.

Q: jim borrows $500 at 17% per annum compounded quarterly for 2 years. Determine the interest due on…

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Q: Jim borrows $400 at 3% per annum compounded quarterly for 2 years. Determine the interest due on the…

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Q: new furniture set costs $ 2400. If you make a down payment of $ 700 and finance the rest at a rate…

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Q: Find the annual simple interest rate of a loan, where $600 is borrowed and where $666 is repaid at…

A: Given data: Principle  = $600 Amount = $666 Time period = 15 months To find: Annual simple interest…

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given information Loan amount=$10,000 n=4 years For monthly payment, n=12×4=48 And r=8% ⇒r=8100=0.08…

Q: Carla borrowed $1,310 from the Royal Bank at 7.9% per annum calculated on the monthly unpaid…

A: Solution

Q: A loan worth $5600 collect simple interest each year for 12 years. At the end of the time, a total…

A: The full form of APR is annual percentage rate which is annual rate of interest charged on loan.