In order to expand, a small business borrows $230,000 at 5.75% compounded quarterly.  The loan is due in 6 years, at which time the business will pay it all off at once.  How much interest will they pay?  Round your answer to two decimal places if rounding is necessary.  The $ sign is already written next to the answer box, so do not type a $ sign in your answer.

Q: eposits $8600 in a bank account that pays a simple interest rate of 6.5% per annum. find how long it…

A: Given that  Principal amount (P) = $8600 Interest rate (R) = 6.5% per annum = 0.065   We know that…

Q: you deposit $5,000 in a fund that pays 6% interest, compounded monthly. In how many years, the…

A: Given that initial amount = P=5000 Final amount= A= 15000 Interest rate = r = 6%=0.06 Time=t=?…

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: How long will it take for $3000 to grow to $43000 at an interest rate of 8.1%. if the interest is…

A: Let's find.

Q: For 8 years, $33 is deposited each week into an account that earns 2.1% interest, compounded weekly…

A:

Q: Gilberto opened a savings account for his daughter and deposited $700 on the day she was born. Each…

A:

Q: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to make…

A: Given: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to…

Q: You deposit $500 in an account earning 4% interest compounded annually. How much will you have in…

A: The continuous compounding formula is, Pt=P0ert In the formula, P0 is original principle sum, r be…

Q: You deposit $3000 in an account earning 8% interest compounded quarterly. How much will you have in…

A: P=Principle=$3000t=time=15 yearsr=interest rate=8%=0.08A=final amount=?n=number of times compounded…

Q: Dylan takes out a bank loan of $11,500 at 3.8% interest compounded annually. How much interest, in…

A: Given data is : Loan P=$11500 Interest rate r=3.8%, compounded annually. Time t=3 years To find the…

Q: Melanie places $5,000 into an account that earns 6% interest compounded daily. Approximately six…

A:

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: Darnell deposts $4000 in a bank account which pays 13.39% interest compounded monthly.  How many…

A:

Q: You deposit $2000 each year into an account earning 7% interest compounded annually. How much will…

A:

Q: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

A: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

Q: $5000 is invested at 4% interest compounded monthly. Find the account balance after 5 years, to the…

A:

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: $1600 is deposited into an account for which interest is compounded annually. The value of the…

A:

Q: Find the optimal solution for the following problem. (Round your answers to 3 decimal places.)…

A: We will solve the given LPP by the graphical method

Q: I have $30,000 to put into an account. Explain which account would be better for me to choose.…

A: The principal amount is $30000. The details of accounts A, B are given. A: 2% interest, compounded…