Joe is borrowing $600 from his parents in order to finish paying his tuition bill. His  parents agree to the loan if Joe will repay the money at the end of nine months. His  parents will charge him 3% annual simple interest. How much interest will Joe owe his  parents? How much will Joe have to pay his parents at the end of the nine months?

Q: Jeremy gets a 4-year simple interest loan from the local bank. If the loan is for $8,938 and the…

A: Given: Jeremy gets a 4-year simple interest loan from the local bank. The loan amount is $8,938 and…

Q: Mark borrowed $18,742 to help pay for expenses. If the loan carries an annual interest rate of 3.9%…

A: From the given information we find the monthly payment.

Q: What was the interest rate on a 2-year loan of $500 if the simple interest paid was $120 type your…

A: In this question we are given with principal and interest paid for 2 years and we have to find the…

Q: Find the total cost of the down payment at 10% the cost of your house.   House is 170,000

A: Given cost of the house is $170,000 down payment is 10%

Q: You borrowed $120,000 for a house and will have to pay $1,090 a month for 15 years. True or False:…

A: We can say it true or false with reason as below.

Q: What is the APR of a payday loan for $1825 due in 18 days that charges a $135 fee?

A: Given,           The APR of a payday loan for $1825 due in 18 days that charges a $135 fee.

Q: Lupe Gonzalez has $6500 in her retirement account. Find the interest rate required for the fund to…

A:

Q: Mr. Nelson had to borrow $1500 to purchase a new water heater after the snowpacalypse. The loan had…

A: Question is related to interest.

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: How long will it take to pay off a student loan of $20,000 if the interest paid on the principal is…

A:

Q: A patient has $220 of the $240 Medicare 2024 deductible. The patient receives a service with a…

A: The objective of this question is to determine the amount the patient is responsible for paying…

Q: Nicholas Thomas deposits $38,000 in his school credit union for 7 months if the credit union pays 3…

A:

Q: Dr. Seals had to borrow $12000 to pay for college to get her doctorate degree. She agrees to a…

A: Given,  Principal = p = $ 12000  Rate of interest = r = 8%  Time period = n =  2  years    We have…

Q: You got an awesome job at Starbucks! You will work there FOREVER! You are promised $900 the first…

A: