Student Loans: A college student has two student loans totaling $12,000. One of the loans is at 6.5% simple interest and the other at 7.2%. After one year, the student owed $811.50 in interest. What is the amount of each loan

Q: Jeremy gets a 4-year simple interest loan from the local bank. If the loan is for $8,938 and the…

A: Given: Jeremy gets a 4-year simple interest loan from the local bank. The loan amount is $8,938 and…

Q: Kathy started a new job, and her salary for the first year is $52,490. If her salary increases by 4%…

A: Salary for the first year is : Salary increase at a rate of  each year

Q: Mr. Thorbes bought a new journal for his poetry.  If the journal normally cost $22 but was on sale…

A: Given: Mr. Thorbes bought a new journal for his poetry. The journal normally cost $22 but was on…

Q: A man bought his girlfriend a new necklace for $259. Instead of paying cash, he paid $19 down,…

A: Cost of necklace = $259 Down Payment = $19 Amount left to be paid = Cost of necklace - Down Payment…

Q: the cost of a loan repayment is $4950 a month.what is the total cost for 12 months

A: given that the cost of loan repayment is $4950 a month. there are 12 months in a year.

Q: Mary borrowed $28,500 to start her business. The bank charges 4.5% annual simple interest and…

A: Mary borrowed $28,500 to start her business. The bank charges 4.5% annual simple interest and…

Q: $350 is borrowed at a rate of 2.5% simple interest for 3 years. How much interest will be paid?

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Q: Bella Sandino made a $600 loan to her friend, Sadie, at 11%. Sadie paid back the loan with interest…

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Q: Margo borrows $100, agreeing to pay it back with 6% annual interest after 16 months. How much…

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Q: Joaquin pawns his favorite watch for a loan of​ $120. After 30​ days, he buys his watch back for​…

A: Given P = $120, A = $140 and T = 30.

Q: simple

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Q: A man wants to set up a 529 college savings account for his granddaughter. How much would he need to…

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Q: Carlos deposits $600 into an account that pays simple interest at a rate of 2% per year. How much…

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Q: Nathan owes $42,650 on two bank loans. The interest rate on the car loan is 7.5% and the interest…

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Q: A man needed money for college. He borrowed ​$7,000 at 16​% simple interest per year. If he paid…

A: Let, duration of the loan is t months.  Now, here the amount borrowed is $7000. So, P = $7000. Rate…

Q: Jefferson borrowed $4000 for his college tuition at an annual simple interest rate of 5.5%. When he…

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Q: The total intrest that she paid on the loan was $270.

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Q: Ari borrowed $20000 and paid it back over 6 years. The simple interest rate was 15% annually. How…

A: The principal amount, P = $20000 Interest rate, r = 15 % Time, t = 6 years

Q: Joe invested 7,000 into a mutual fund to save for a new car. The mutual fund compounds quarterly…

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Q: A family purchased a washer for $496. If they paid 25% down and agreed to pay the remainder in…

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Q: Connor bought a house for $215,000.00, paying 10% down, financing the rest at 7% interest for 25…

A: The objective is to find monthly payment and interest over the life of loan.

Q: Elle borrowed $15,000 for 4 years at an annual simple interest rate of 2.5%. Find the total amount…

A: The objective of this question is to calculate the total amount due on a loan. The total amount due…

Q: You purchase a car for $12000 and agreed to pay it off in 48 monthly payments of $365 each. What…

A: Given Information: You purchase a car for $12000 and agreed to pay it off in 48 monthly payments of…