if a loan's annual simple discount rate is 4.34%, how many years would it take for the debt to double?

Q: Moe takes out a conventional loan to purchase a car. The interest rate is 8.3% compounded monthly,…

A: amount of the loan is  $12000 monthly interest rate=8.3% compounded monthly

Q: Find what simple interest rate will be necessary for Sonny to get a 40% return on a $500 investment…

A:

Q: Find the investment needed today to make $ 100,000 in 5 years with a simple interest rate of 8% per…

A: Given data÷ A=$100,000 t=5 years r=8% =0.08 per year

Q: A sailboat costs $19,286. You pay 25% down and amortize the rest with equal monthly payments over a…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A:

Q: Jane borrowed $28,340 over 1.2 years. The simple interest has a rate of 11% pear year. What is the…

A: “Since you have asked multiple question, we will solve the first question for you. If youwant any…

Q: How much will need to be paid in full on a loan of $2200, at a rate of 4.2% simple interest for 6…

A:

Q: You want to be able to withdraw $50,000 from your account each year for 25 years after you retire.…

A: Given that, You want to be able to withdraw $50,000 from your account each year for 25 years after…

Q: I've reached a goal of saving $6,500 and want to put my money into a savings account for one year.…

A: Given P=6500 r=8%=0.08 t=1 year

Q: The Small Business Administration offers business loans at 5.8% interest compounded monthly for 8…

A:

Q: A borrower is repaying a $1000 loan with 10 equal payments of principal. Interest at 6% convertible…

A: Given: A borrower is repaying a $1000 loan with 10 equal payments of principal  Interest at 6%…

Q: A mutual fund pays a yearly interest of 3.4%. If you invested $7,000 for 5 years, what is the value…

A: Given, Invested amount=7000$ rate of interest= 3.4% No of years=5  Investment after 5 years =?

Q: A 55-year-old man deposits $50,000 to fund an annuity with an insurance company. The money will be…

A:

Q: Jim financed the purchase of a new car. If the loan had an annual rate of 3.25% compounded annually…

A: By using formula we solve the given problem as follows :

Q: John buys a stereo system for $640. He agrees to pay $32 a month for 2 years. Assuming that interest…

A:

Q: Suppose you deposit $500 at the end of each quarter into an account that pays 3% annual…

A:

Q: Jasica Parker would like to have $46,000 to buy a new car in 7 years. To accumulate $46,000 in 7…

A: Given that, A=$46,000, t=7 years, n=12, r=3%=0.03 We have to find, how much she must invest monthly…

Q: A couple wants to start a business which needs a capital of $190,000. They decided to approach PNC…

A: A couple wants to start a business which needs a capital of $190,000. They decided to approach PNC…

Q: Suppose you want to have $700,000 for retirement in 35 years. Your account earns 5% interest…

A: Annuity formula               A=PMT((1+rn)nt-1)(rn) where PMT= regular monthly deposit amount…