Suppose that you borrow $20,000 for four years at 6% toward the purchase of a car. Find the monthly payments and the total interest for the loan. O $470; $22,560 $470; $2560 $1106; $33,088 $553; $26,544

Q: Mr. oniel borrows $750 for 4 months at 6% interest how much interest does he pay.

A: Given,            Mr. oniel borrows $750 for 4 months at 6% interest.To find : How much interest…

Q: You borrow $950 from your brother and agree to pay back $1000 in 19 months. What simple interest…

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Q: The monthly payment is ​$    enter your response here. ​(Round to the nearest cent as​ needed.) The…

A: The formula used to calculate monthly payment is- PMT = (P*(R/n))/(1-((1+(r/n))^(-nt))) where,P =…

Q: Find the simple interest I of the given loan amount. (Round your answer to the nearest cent.) $460…

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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: The price of a condominium is $146,000. The bank requires a 5% down payment and one point at the…

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Q: Suppose that you borrow $17,000 for four years at 6 ​%  toward the purchase of a car. Use PMT equals…

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Q: Find the simple interest (in dollars) due on a 31-day loan of $950 if the annual simple interest…

A: The provided information is as follows:The principal amount is .The total number of days is .The…

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: 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 total amount in Mr. G’s account, if he invests $9000 for 5 years at a 6% interest rate.  A.…

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Q: Find the amount due if $400 is borrowed for 14 months at 17% simple interest. Amount = $

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Q: Use PMT = . Round to the nearest dollar. Suppose that you borrow $10,000 for four years at 7%…

A: To Find: The monthly payments and the total interest for the loan.

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given:  you borrow $10,000 for four years at 8% toward the purchase of a car To determine; The…

Q: if you borrow $1200 at an add on rate of 5% for 4 years how much is the monthly payment

A: Given that: Principle(P) is $1200, rate of interest(r) is 5% and time(t) is 4 years. The amount can…

Q: Find the annual simple interest rate of a loan, where $600 is borrowed and where $666 is repaid at…

A: Given data: Principle  = $600 Amount = $666 Time period = 15 months To find: Annual simple interest…

Q: Find the simple interest on the loan of​ $2500 for 2 years at​ 5%.

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Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given information Loan amount=$10,000 n=4 years For monthly payment, n=12×4=48 And r=8% ⇒r=8100=0.08…

Q: A loan worth $5600 collect simple interest each year for 12 years. At the end of the time, a total…

A: The full form of APR is annual percentage rate which is annual rate of interest charged on loan.