Karl purchased a head, phone and charged it to his credit card. To discharge this debt, he must pay P525.00 at the end of every month for 36 months. If the interest was at 5% compounded monthly, what was the cash price of the head phone? P

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 9% interest. How…

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Q: Julie borrowed $8200 at a simple interest rate of 0.5% per month. How much interest will she owe…

A: Given : Julie borrowed $8200 at a simple interest rate of 0.5% per month.   To Find : Simple…

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: Audrey deposited $12,000 into an account paying 5% interest compounded twice a year. How long will…

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Q: George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it…

A: Given: Initial amount = 4200 rate of interest = 7.5 monthly Final amount  = 5000 Now, we need to…

Q: maria borrows $2,000 from her cousin and agrees to pay her back in 6 monthsat a 3% simple interest…

A: Principal amount is $2,000Rate of simple interest is 3% per year, andTime is 6 months, that is 0.5…

Q: Wayne Pinski wishes to buy a stove and a refrigerator from an appliance dealer. The cost of the two…

A: Consider that the combined price of the two items is, $2800 down payment is  $700 Therefore, the…

Q: John got a part time weekend job at a local restaurant to save for a new car. He plans on depositing…

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Q: Bella Sandino made a $600 loan to her friend, Sadie, at 11%. Sadie paid back the loan with interest…

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

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Q: Kachina Caron invested $1800 in a simple interest account and earned $36 in 3 months, what is the…

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Q: Suppose you want to have $300,000 for retirement in 20 years. Your account earns 10% interest. How…

A: The objective of this question is to find out how much money needs to be deposited each month in an…

Q: Nathan owes $42,650 on two bank loans. The interest rate on the car loan is 7.5% and the interest…

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Q: Johnson placed $15,000 into his credit union account paying 7% compounded semiannullay. How much…

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Q: The total intrest that she paid on the loan was $270.

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Q: Nancy deposited $950 into an account that pays 5.41% annual interest compounded annually. When she…

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Q: Jenn borrowed $900 from her sister at a simple interest rate of 1.5%. If Jenn will pay back her loan…

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Q: Keisha borrowed $300 from a bank for 5 years and was charged simple interest.The total intrest that…

A: Given that Keisha borrowed $300 from a bank for 5 years  She paid total simple interest $120. To…

Q: Connor bought a house for $215,000.00, paying 10% down, financing the rest at 7% interest for 25…

A: The objective is to find monthly payment and interest over the life of loan.

Q: Alex bought a new boat with a 15 year loan at a 2.4% interest rate. If he ended up paying $8456.40…

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Q: To help pay for college expenses, Julie Davis borrowed $10,000 at 7% interest compounded…

A: Given data, Principal P=$10,000 Rate r=7%=0.07 Time t=8 years Compounded semi-annually n=6

Q: if $3500 earned simple interest of $153.13 in 7 months, what was the simple interest rate

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Q: Suppose you want to have $500,000 for retirement in 30 years. Your account earns 6% interest. How…

A: Suppose you want to have $500,000 for retirement in 30 years.  Future ValueFV= $500000Time t=30…