Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly payments and the total interest for the loan. $286; $13,728 $244; $11,712 O $244; $1712 $698; $23,504

Q: Find the refund fraction on a 48​-month loan with interest of ​$2,803 if the loan is paid in full…

A: Refund fraction is the percentage of refund you will get when you complete the loan before the…

Q: Determine the monthly payment if you take out a loan for $ 190000 with an annual interest rate of…

A: Given : Loan Amount  = $ 190,000 Interest rate    = 6.25% Time              = 20 years The formula…

Q: Steve borrowed $300 for 2 months at a simple interest rate of 6% per annum. How much interest does…

A: Simple interest =( principal × rate × time)/100

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

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

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Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Find the exact interest on a loan of ​$6,000 at 8​% annually for 70 days.

A: Given, a loan of $6,000 at 8​% annually for 70 days.To find the exact interest on a loan.

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

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: interest

A: we know that simple interest formula simple interest =P×R×T100where P is principal amountR is…

Q: A person owes $1000 on a credit card that charges an interest rate of 2% per month. Complete this…

A: solutionGivenInterest rate=2% per monthowes=1000$

Q: A recent high school graduate is taking out a 2,500$ loan to pay for a technical education program.…

A: A recent high school graduate is taking out a 2,500$ loan to pay for a technical education program.…

Q: Calculate the time necessary to achieve an investment goal. Give your answer to the nearest day. Use…

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Q: An individual borrowed ​$78,000 at an APR of 3​%, which will be paid off with monthly payments of…

A: HERE GIVEN MONTHLY PAYMENT IS MADE FOR 22 YEARS IT MEANS 12 PAYMENTS PER YEAR. AND OTHER DETAILS ARE…

Q: 36,000 is invested at 5.5% compounded annually for 8 years. a. Find the final amount b. Find the…

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Q: You can afford a monthly payment of $375 for a new car loan.  You want the loan to last for 5 years…

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Q: Compute the monthly payments for each add-on interest loan. The amount of the loan is $1300. The…

A: Addon interest also known as simple interest formula is given by the equation; A=P1+rt100 Where A is…

Q: The new balance of a charge account is $145.00. The minimum payment is $30.00. If the interest rate…

A: Step:-1 Given new balance is $145.00 Minimum payment is $30.00 Left balance to be paid =…

Q: If the interest on a loan amount $3500 for 1 years is $132. Then the rate of interest is O 2.65%…

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