Reuben took out a loan for 146 days and was charged simple interest at an annual rate of 12.5% . The total interest he paid on the loan was $245 . How much money did Reuben borrow? Assume that there are 365 days in a year, and do not round any intermediate computations. If necessary, refer to the list of financial formulas . $

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 9% interest. How…

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Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: Raina took out a loan for  11  months and was charged simple interest at an annual rate of  2.4% .…

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Q: How much interest (to the nearest dollar) would be saved on the following loan if the home were…

A: We will find out the required value.

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A: Principal amount is $2,000Rate of simple interest is 3% per year, andTime is 6 months, that is 0.5…

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A: Consider that the combined price of the two items is, $2800 down payment is  $700 Therefore, the…

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Q: You promise your niece that you will give her $2 on her first birthday and double that amount every…

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Q: Use the formula or a calculator application to find the total interest paid for the home mortgage of…

A: Total mortgage amount: Monthly payment: Time period : years

Q: Jane took out a loan for $5200 and was charged simple interest at an annual rate of 10.2%. The total…

A:

Q: Wayne Pinski wishes to buy a stove and a refrigerator from an appliance dealer. The cost of the two…

A: Total cost of stove and refrigerator is $2800 down payment is $600. So remaining cost to be paid is…

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

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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%…

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Q: Suppose you want to have $500,000 for retirement in 30 years. Your account earns 6% interest. How…

A: Suppose you want to have $500,000 for retirement in 30 years.  Future ValueFV= $500000Time t=30…

Q: A principal amount of $365 is placed in a savings account with an annual rate of 2.08% simple…

A: The formula for final value V of the simple interest of principal amount P with rate of interest r%…

Q: How much interest is owed on a 9-month, $5550 loan borrowed at 7.25% simple interest?

A: Given the Principal amount P= $5550 Rate of interest =7.25% =0.0725  Time, t=9 months = 912=0.75…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

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Q: Tom wishes to purchase a property that's been valued at $300,000. He has 25% of this amount…

A: We will find out the required value.