Suppose that you decide to buy a car for $28,635, including taxes and license fees. You saved $7000 for a down A [¹-₁97 payment and can get a three-year car loan at 6.25%. Use PMT= the total interest for the loan. The monthly payment is s (Round to the nearest cent as needed.) P nt to find the monthly payment and

Q: You have agreed to pay off an $8,000 car loan with 24 monthly payments of $400 each. Use the simple…

A: Formula used: To find the interest rate in simple interest:…

Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: Tristan and Bella borrowed $1,700 to buy a dog at 7.5% interest on March 10. They plan to repay the…

A: To calculate the repayment amount for a loan with 7.5% interest over a specific period, you can use…

Q: The simple interest due on a 2.5-year loan of $8,500 is $1,062.50. Find the monthly payments on the…

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Q: Lynn needs to borrow $5500 for cosmetic surgery. She obtains a loan from her grandmother for 48…

A: Given: Lynn borrows a loan for cosmetic surgery of $5500 at simple interest rate 7.3% for 48 months.

Q: y borrows $79,500 for

A: Introduction: The formula of the simple interest rate is given by, S.I.=P×R×T100 Where P is the…

Q: Matt bought a boat for $15,000. This is a simple interest loan at 5.5% for 10 years. What is the…

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Q: Morgan loaned $3,100 to Rolf at a simple interest rate of 0.65% per month. What was the  term of the…

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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: Jackie took out a $9000.00 personal loan with a 4.5% interest rate that she will pay back in 3…

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Q: Jennifer earned $ 42.55 interest over the period of 146 days on a term deposit that pays 5.75 % per…

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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: interest

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

Q: Jenn borrowed $900 from her sister at a simple interest rate of 1.5%. If Jenn will pay back her loan…

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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%…

A: The objective of this question is to calculate the simple interest Jolie owes on a 2-year loan for…

Q: The price of a car is $25,000. You have saved 25% of the price as a down payment. After the down…

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Q: A loan is used to purchase a new truck. the total price of the truck

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Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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Q: a repa

A: Kara makes a monthly payment of = $175