Jamie wants a new smart/TV sound system that cost $1,250. He does not have that much in cash to purchase it, so he uses a credit card with 18% annual interest. He puts $250 down, but he only pays the interest each month on that credit card debt. About how much will he pay in interest over 4 years?

Q: Miroslava has $100,000 to invest in a saving account. She receives a steady interest rate of 3.75%…

A: option b is correct  at the end of 15 years Miroslava have balance $175,500.40 using the formula for…

Q: Start working with a savings account with a quarter in it and your boss doubles it each day for…

A:

Q: To increase his retirement income. A man put away $600 per month for 25 years in an account that…

A:

Q: The future dollars of an investment at the end of 8 years is $ 132,000. Its today’s dollars is $…

A: INTEREST PAID BY BANK AT THE END OF 8YEAR=$132000-$76825=$55175 REAL RSTE OF INTEREST OF…

Q: Gary is getting a Wi-Fi hotspot that costs $35 and has a monthly data plan of $20/month. How much…

A: Given query is to find the the total cost of wifi over 2 years .

Q: You are saving for a dream vacation that will cost $5,000.  How many years will you have to wait…

A: We need to calculate the time taken for the amount to become 5000 $

Q: you can buy a car for $25200 or lease the same car for 3 years for a down payment of $1500 and…

A: Consider the given information.  The basic price of the car is $25200.    If you are taking a car on…

Q: Calculate the time needed on an investment of $500,000 to gain                         interest of…

A:

Q: Fernando has $6,600 to invest in a saving account. He receives a steady interest rate of 3.00%…

A: Compound interest formula is used

Q: Suppose you want to buy a new car that costs ​$32, 900. You have no cash only your old​ car, which…

A: A new car costs $32, 900. You have no cash only your old​ car, which is worth $3000 as a​ trade-in.…

Q: The first cost of an electric rebar bender is P392,000 and a salvage value of P40,000 at the end of…

A: Given information Pw=P392,000 r=5.4% ⇒r=5.4100=0.054 And n=4 years The annual cost is given by…

Q: If you start working with a savings account with a $.25 in it and your boss double it each day for 3…

A:

Q: If Damon invests $1600 for 1 year in a savings account that pays a simple interest rate of 1.09%…

A: Definition used -            Simple interest -                            SI=Prt100…

Q: You save 500 each month by depositing into an account earning 7% monthly. After 15 years you stop…

A:

Q: After some thought, you have decided that you will need $60,000 each year to live on after you…

A: This is a problem related to simple interest calculation. Based on the general formula of simple…

Q: Jamil wants to renovate his Studio in 6 years. He estimates the cost to be $15474. How much should…

A: Given, Future value FV=15474$ Rate of interest r=8%=0.08 Number of times per year m=1 time t=6 years…

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

A: ANSWER :

Q: lamil wants to renovate his Studio in 6 years. H estimates the cost to be $16511. How much should he…

A: Given          Future value (FV)=$16511     Interst rate (r) =8%=0.08   Time period (n) =6 years

Q: You decide to do some remodeling in the kitchen. Your parents agree to lend you the money, but you…

A:

Q: Sharon wants to have $10,000 after 8 years. How much should she deposit in a 4.5% saving account in…

A: The formula for amount using the compound interest is A=p(1+rn)nt. Here, p is the principal, r is…

Q: Mateo loves lattes and buys one almost every day. This amounts to about $121 per month. If Mateo…

A: