Margaret’s car loan statement said she would pay $7,683.20 in simple interest for a five-year loan at 9.8%. How much did Margaret borrow to buy the car?

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: Juan purchases an annuity for 4140 dollars that will make 17 annual payments, the first to come in…

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Q: Anna's employer covers 80% of the cost of a $5700-per-year health insurance plan, and her share of…

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Q: Matt bought a boat for $15,000. This is a simple interest loan at 5.5% for 10 years. What is the…

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Q: Suppose that you decide to buy a car for $24,635, including taxes and license fees. You saved $6000…

A: Simple interest formula for an amount P at an interest rate of r% for t years is given by the…

Q: Steven wants to buy a new couch priced at $558 and agrees to pay for it over two years with a…

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Q: Morgan loaned $3,100 to Rolf at a simple interest rate of 0.65% per month. What was the  term of the…

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Q: Paul Peters received a statement from the ABC Department Store showing a previous balance of $90. If…

A: Interest = (Rate of interest × Amount× Time)/100 Amount = $90 ROI = 2.5% Time = 1 Month

Q: Hui purchased a 91-day T-Bill that has a face value of $1000 and an interest rate of 4.00% p.a. a.…

A: Given, Interest Rate R=4.00%=0.04 Face Value = $1000 91 days T-bill

Q: Your total payment on a 4-year loan, which charged 8.5% simple interest, amounted to $70,160. How…

A: The objective of this question is to find out the original amount borrowed given the total payment…

Q: A mortgage of $100,050 is repaid in 240 monthly payments of $900. Determine the monthly rate of…

A: A mortgage of $100,050 is repaid in 240 monthly payments of $900. Therefore the total amount of…

Q: Your total payment on a 4-year loan, which charged 8.5% simple interest, amounted to $70,160. How…

A: The objective of this question is to find out the original amount borrowed for a loan, given the…

Q: Ann borrowed $2,239 for 3 months. If the loan's annual simple discount rate was 47.5%, what was the…

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Q: Steven wants to buy a new couch priced at $705 and agrees to pay for it over two years with a…

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Q: THe washingtons buy a studio apartment for $240,000.00, what percentage down payment is 12,000.00?…

A: topic - percentage

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: Find the simple interest Jolie owes on a 2-year loan for $8,000 to buy a used car at the rate of 9%…

A: The objective of this question is to calculate the simple interest Jolie owes on a 2-year loan for…

Q: Sofia obtained a house of 25-year mortgage for Php2,150,000. If his monthly payment is Php 15,500,…

A: Given that: Sofia obtained a house of 25-year mortgage for Php2,150,000. His monthly payment is Php…

Q: interest and agreed to pay it off over a 2 year period, how much would your monthly payment be?

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Q: Mary has agreed to loan Karen $1,125.37 for 5 years at 7%% simple interest. How much will Karen…

A: # Mary will receive the amount when loan is repaid as Mary has agreed to give loan to Karen The…

Q: Jake bought a new washer and dryer for $1439. He made a 15% down payment and financed the rest of…

A: The following formulae are used to find the required result. Monthly Payment=P0rn1-1+rn-ntFinance…