For a certain loan, the interest I due at the end of a loan period is given by  I = Prt,  where P is the principal borrowed, r is the yearly interest rate as a decimal, and t is the number of years since the money was borrowed. What interest is accrued if 5 years ago we borrowed $6000 at an interest rate of 2%?

Q: Juan’s exercise regimen includes golf, swimming, and playing the drums. He has at most 12 hours per…

A: We have given all the important statement. We have to construct the linear programming problem.

Q: A certain amount is invested at 9% annual simple interest, and after 11 years, its investment is…

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Q: A $120,000 home mortgage for 35 years at 9.5% has a monthly payment of $985.93. Part of the monthly…

A: Given: A $120,000 home mortgage for 35 years at 9.5% has a monthly payment of $985.93. Part of the…

Q: amount of $50,000 is borrowed for 13 years at 4.5% interest, compounded annually. If the loan is…

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Q: If you borrow $4500 at 3.5% interest compounded continuously, and make no payments toward the loan,…

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Q: Assume that Bob deposited $3,000 per year in a bank account. Since the bank offered a compound…

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Q: a. Exact doubling time at a rate of 12%= b.  For an item that costs $800 today what will the price…

A: (a) Consider the given data. Formula used: The exact doubling time is Tdouble=log2log1+r. New value…

Q: A mortgage of £160,000 is repaid over 20 years by equal monthly payments in arrears. The interest…

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Q: Which of the following is the balance for a single $2,484 deposit in an account with an APR of 1.88%…

A: Given initial amount $2,484. Interest rate r=1.88% time t=37 years.

Q: How many years will it take a 1,500$ loan to grow to 2,222.32 at 14% interest, compounded annually?

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Q: The authors of the book derived the following formula for interest: Final Amount = (Initial Amount)…

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Q: The desired accumulated amount is $60,000after 11 years invested in an account with 2.3% interest…

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Q: You deposited $5,000 in an account with an annual interest rate of 4% compounded quarterly for 18…

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Q: For simple interest, present value can be calculated using: OP=A-I OP=A+I OP= Prt OP=I-A

A: A = final amount (future amount)P= initial amount (present amount)I = interest amount

Q: a.) What will an investment of 30 000 Euros at 5.6% p.a. interest compounded annually amount to…

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