Nick wants to buy a secondhand tricycle worth P40,000. He can pay a down payment of P5.000 and the balance payable at the end of every month for 2 years. Find how much must Nick pay monthly at 3 1/2% compounded monthly?

Q: Jamie plan to make payments of $9000 into a account on the last day of this and every year until his…

A: Consider the given information.

Q: what is the 2%interest rate over 5 years

A: here given    carlos has 3000 to open a bank account p =3000 R =2% N = 5 years  I =PRN100

Q: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to make…

A: Given: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to…

Q: Mark deposits $1000 at the end of every 6 months in his bank account. If the bank pays 6% compounded…

A: Given, Mark deposits $1000 at the end of every 6 months in his bank account. If the bank pays 6%…

Q: Towed $3000 from his brother Dave. He agreed to repay the money at the end of 2 year the money had…

A: In this question, the concept of compound interest is applied. Compound Interest Compound interest…

Q: placed in a savings account at 3% per annum compounded annually. How much is in the account in…

A: Topic = Algebra

Q: Suppose that you borrow $17,000 for four years at 6 ​%  toward the purchase of a car. Use PMT equals…

A:

Q: Calculate the simple interest earned in 1 year on a deposit of $1900 if the interest rate is 8%.

A: *** This is the problem related to financial mathematics and we are Advanced math expert and have…

Q: You invest $10,000 in the Big Delta mutual fund. Over 5 years, your investment grows in value to…

A: According to the given data Initial investment is $10000 After 5 years it becomes $17320 That means…

Q: If you purchase a $600 item and pay for it with monthly installments for 2 years, the monthly…

A:

Q: Suppose that you borrow $13,000 for four years at 6% toward the purchase of a car. Find the monthly…

A:

Q: present value of the loan

A:

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

A:

Q: Manjot Singh bought a new car for $14 888 and financed it at 8% compounded seni-annually. He wants…

A: Given price of new car is P=$14,888 Interest rate r=8% compounded semi annually ⇒r=8100=0.08 Pay…

Q: Kelly purchased her first new car last week for $20 406, taxes included. The loan representative at…

A: The depreciation equation for an amount P whose value is decreasing at  a rate of r% per year for n…

Q: Find the simple interest of $1,000 borrowed at 6% for 4 years.

A: Given: The principal amount = $1000. The rate of interest = 6%. The time =4 years.

Q: find simple interest on $1250 for 10 months at 12%

A: To find simple interest on $1250 for 10 months at 12%

Q: Find the principal if $245 in interest is due after 10 months at 7%

A: By using formula of simple interest.

Q: How much will Lee receive at the end of 4 years?

A: Principle, P = $18,400 Annual interest rate, r = 8% = 0.08 No. of times interest compounded per…

Q: Patty took out a payday loan for $700 due in 2 weeks that charged a $140 fee. What is the periodic…

A: We can find the annual  rate of interest as follows

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given:  you borrow $10,000 for four years at 8% toward the purchase of a car To determine; The…

Q: determine the simple interest that pia catriona needed to pay if she borrowed 2345 at 3 1/5%for 10…

A: Given Principle (P) = 2345 Rate (R) = 315% Hence R = 165% Time (T) = 10 months Hence T = 1012years

Q: Determine the interest earned if $5000 is invested at 4.3% simple interest for 9 years.

A: We have direct formula for simple interest.