O The total simple interest owed on a loan of $8,000 after 60 months is $1,280. What is the yearly interest rate on the loan? Show your work.

Q: Calculate the amount of interest you'll have at the end of the indicated period. You invest $7000 in…

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Q: $ 9000 loan is to be paid in 3 years at 3.6% compound interest per year, the accrued interest and…

A: =>Total amount of money to pay off the loan = Total payment at the end of first year +Total…

Q: Find the interest on the following loan. $5386 at 6%; loan made on August 11 and due December 16 The…

A: We have to Find the interest on the following plan $5386 at 6%,loan made on August 11 and due on…

Q: Consider a student loan of $15,000 at a fixed APR of 6% for 15 years. a. Calculate the monthly…

A: 1) a) Amount borrowed = $67,000, Annual Interest rate = 4%, the number of payments per year is 12…

Q: Estimate the annual percentage rate for the add on loan using the given number of payments and…

A: Given n=42 and r=5.9% We have to estimate the annual percentage rate for the add on loan by using…

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A: This installment loan is being paid off early, and it is our task to calculate the rebate fraction,…

Q: Find the cost of purchasing an annuity that pays $25,000 per year for 20 years. The interest rate is…

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Q: Find the amount (in $) of interest on the loan. Principal Rate (%) $50,000 Alw 5- Time 6 months $…

A: Interest = (Principal * Interest Rate * Time) / 100Given:Principal = $50,000Interest Rate = 23/4% =…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

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Q: Over the previous period, your company had accounts receivable of $95,800 and credit sales of…

A: Given accounts receivable=$95,800 credit sales= $573,229.51 to find out: average collection period=?…

Q: Find APR (rounded to the nearest tenth of a percent) for the loan. Purchase a living room set for…

A: We know,  APR = 2Nr/N-1

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: The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's…

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Q: You take out a 7-yr car loan for $25,000 with a 7.5% APR. The fixed monthly payment is $383.46. How…

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Q: A farmer purchased 285 acres of land for $4,300/acre. He paid 25% down and obtained a loan for the…

A: Formula for the loan amortization is where A is periodic payment, P is loan to be amortized, i is…

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.