Suppose that Anna needs to borrow $8,000. She has two possible loans from which to choose: The first possible loan is at 4.5% per year as simple interest for 6 years. How much total in- terest would Anna pay for this loan? (Round your answer to the nearest cent). The second possible loan is at 4.25% annual interest rate, compounded continuously, for 6 years. How much total interest would Anna pay for this loan? (Round your answer to the nearest cent).

Q: Rose has saved $160,000. If she decides to withdraw $2500 at the beginning of each month knowing the…

A: From the given, Amount (A) = $160,000 Principle amount (P) = $2500 Rate = 5% per annum Then R =0.052…

Q: A borrower had loan of $5500 at 5.1% compounded semiannually, with 18 semiannual payments. Suppose…

A:

Q: Rosa Burnett needs $7,000 in three years to make the down payment on a new car. How much must she…

A: Given information Future value=$7,000 Rate of interest r=0.5% compounded annually ⇒r=0.5100=0.005…

Q: Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Given that, the monthly payment towards a mortgage is $1130, the number of years is 30 years and the…

Q: Izan and Meng plan to send their daughter to university. To pay for this they will contribute equal…

A:

Q: major airline is plannin

A: Given that a major airline is planning to purchase new airplanes. It wants to borrow $800 million by…

Q: How much will need to be paid in full on a loan of $2200, at a rate of 4.2% simple interest for 6…

A: