Mai borrowed $5000 from a bank for 5 years and was charged simple interest. The total interest that she paid on the loan was $1500. As a percentage, what was the annual interest rate of her loan? If necessary, refer to the list of financial formulas. []% ?

Q: It is time for you to renew the lease on your apartment. The landlord raised your rent from $650 to…

A: It is time for you to renew the lease on your apartment. The landlord raisedyour rent from $650 to…

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: Statistics Question

A: Solution: Given information: n=16 Sample size x= 498  Sample mean μ=450 Population Mean s= 95 Sample…

Q: The manager of Brass Antiques has determined that a markup rate of 27% is necessary for a profit to…

A: We will find out the required value.

Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

Q: You decide to save for a car costing $1200 (You are a big spender). You want to make deposits for 24…

A:

Q: April took out $600 loan from the bank. At the end of 5 yearsshe pays back the principal plus $60…

A: Given query is to find the interest rate.

Q: $350 is borrowed at a rate of 2.5% simple interest for 3 years. How much interest will be paid?

A:

Q: 4.15%.Find the amount of interest earned and the total value of her account after 18 years.

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: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

A:

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

A:

Q: Megan held a loan of $2,500 for 8 months and was charged interest of $181.67. What was the annual…

A: The objective of this question is to find the annual simple interest rate on a loan. The simple…

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: If you make $400 in simple interest on an investment at 8% for 5 years, what is the amount of the…

A:

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

A:

Q: A man needed money for college. He borrowed ​$7,000 at 16​% simple interest per year. If he paid…

A: Let, duration of the loan is t months.  Now, here the amount borrowed is $7000. So, P = $7000. Rate…

Q: Find the interest due on $1,400 at 9% for 270 days

A:

Q: Jefferson borrowed $4000 for his college tuition at an annual simple interest rate of 5.5%. When he…

A:

Q: Jean borrowed $14,919.00 from her parents to finance a vacation. If interest was charged on the loan…

A:

Q: want to design Seats in commercial So that they are wide enouph to fit 9090 of all maks…

A: ,We have given that.   X~N( μ , ?^2 )   μ= 14.3    , ?=1.1   Z-score =( x - μ )/?

Q: Christine borrowed $3000 from a bank for 2 years and was charged simple interest. The total interest…

A: Given that, P=$3000 N=2 year I=$120  We have to calculate simple interest rate.

Q: Bella Sandino needed funds to cover her credit card bill which was due. She took out a $100 loan at…

A: