kample 3 Darnel owes a total of $3060 which includes 12% interest for the three years he borrowed the money. How much did he originally borrow? ion :

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: 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: Based on the value of the​ guitar, the pawnbroker loans you $960 One month​ later, you get the…

A: Effective Annual Interest Rate CalculationFormula:Effective Annual Interest Rate (EAR) = (1 + (i /…

Q: Your interest rate on a $1,500 savings account is 4%. How much simple interest will the account earn…

A: Given information P=$1,500 r=4% ⇒r=4100=0.04 t=2 years We have to find the simple interest will the…

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: You make a payment of $300 at the beginning of each month into an account that earns 3.6% annual…

A:

Q: loan

A:

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

A:

Q: Sally’s parents loaned her $7500 to buy a used car at an interest rate of 7.5%. Sally wants to have…

A: It is given that, Principal amount P= $7500  R(rate)=7.5% r=R100×12=7.5100×12=0.00625 n=2 years…

Q: Margo borrows $500, agreeing to pay it back with 8% annual interest after 211 days. How much…

A:

Q: Find the total amount in Mr. G’s account, if he invests $9000 for 5 years at a 6% interest rate.  A.…

A:

Q: You have $2,000 on a credit card that charges a 21% interest rate. If you want to pay off the credit…

A: The objective of this question is to calculate the monthly payment required to pay off a credit card…

Q: Jessica deposits $2435 at the beginning of each semiannual period for 8 years in an account paying…

A:

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

A:

Q: What value would you project for a share of stock at the beginning of year 3? $

A: From the model of Gordon's growth the formula is given as: P = [ D (1+g) ] ÷ ( ke -g). P = current…

Q: Richard invests $298.66 every month into an account. At the end of 30 years, he has a balance of…

A: Given: The investment rate is $298.66 per month and  total time 30 year=360month and final balance…