Molly wants to buy a camping time share for $12 500. She can borrow the money at 9.6%/a compounded monthly for 5 years. What will Molly pay per month? a. $163.13 C. $638.31 b. $263.13 d. $2560.32

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A: Solution:

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

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A: Here is the Answer and Explanation

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A: Given  the principal amount P=$6000Interest rate r =4.5%=4.5100=0.045Time t=4 months          t= 412…

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A: You can calculate Interest on your loans and investments by using the following formula for…

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A:

Q: You deposit $500 in an account earning 4% interest compounded annually. How much will you have in…

A: The continuous compounding formula is, Pt=P0ert In the formula, P0 is original principle sum, r be…

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A: P=Principle=$3000t=time=15 yearsr=interest rate=8%=0.08A=final amount=?n=number of times compounded…

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A: We use definitions of polynomial function and degree of the polynomial to answer the given question.

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A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: Subject = Discrete Structures In a group of 9 people is it possible for each person to have exactly…

A: It is not possible,  Imagine constructing an acquaintance graph in which each of the 9 people are…

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Q: An amount of $1500 is deposited semi-annually for two years into a fun 10.5% per year, compounded…

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Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: Find the interest for a principal of $8883, rate 9.3% and 5 years.

A: According to the question,  We have: Principal = P = $8883 Rate of Interest = R= 9.3% Time period =…