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: 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: Gabe purchased a razor for $9.99, a refill pack of razor blades for the regular price of $12.99,…

A: Given Price of Razor=$9.99 Refill pack of razor blades=$12.99 Shaving cream=$2.99 Lotion=$5.55…

Q: A credit card offers no interest no payments for 12 months. You make a purchase of $3500. You make…

A: purchase made A= $3500 monthly payments m= $300 Amount made during the first year (11 payments)…

Q: The price of a car is $22,000. you have to save 20% of the price as a down payment after the down…

A:

Q: 5 years ago you purchased a home for $215,000. You made a 10% down payment and paid for the rest…

A:

Q: Rebecca wants to borrow $600 to buy her favorite video game console and a couple of games. Best Buy…

A:

Q: Find the principal if the interest is ₱3500, the rate is 4.5% and the time is 1.75 years.

A:

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: The total interest on a discounted loan is $40. If Bob received $480 into his bank account, what is…

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: Joaquin pawns his favorite watch for a loan of​ $120. After 30​ days, he buys his watch back for​…

A: Given P = $120, A = $140 and T = 30.

Q: Dana bought a bicycle on an installment basis by paying P1, 000 downpayment and the balance at P500…

A:

Q: Craig and Tammy recently sold their home for $247,000. Their loan balance is $134,850. What is their…

A: Given Selling price = $247,000 Loan remaining ( that has to be paid off)  = $134,850

Q: Your friend has a job shovelling snow for the winter. He is scheduled to make $125 in total for all…

A: