Suppose you signed into an 8-year loan which is compounded annually at 7%. How much will you pay if you borrowed  $20,000.00.

Q: Jayden just graduated from college and owes $19,400 on his student loans. The bank charges an annual…

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Q: Suppose you deposited ​$40 per month into a savings plan for 5 years and at the end of that period…

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Q: Janet’s payments on her $12,500 car are $420 a month for 3 years. Assuming that interest is…

A: Janet’s payments on her $12,500 car are $420 a month for 3 years. P = $12,500, t = 3 years & n =…

Q: To help pay for college expenses, Julie Davis borrowed $10,000 at 7% interest compounded…

A: Given data, Principal P=$10,000 Rate r=7%=0.07 Time t=8 years Compounded semi-annually n=6

Q: Jim financed the purchase of a new car. If the loan had an annual rate of 3.25% compounded annually…

A: By using formula we solve the given problem as follows :

Q: Frank Cronin must make a balloon pay- ment of $20,000 in 4 years. Find the present value of the…

A: Given data, Principal Amount P=20000 Time t=4 years Interest is compounded monthly so n=12

Q: A company is planning to manufacture snowboards. The fixed costs are $136 per day and the total…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Find the time needed in years to make $ 50,000 from $ 30,000 if the simple interest rate available…

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Q: After making the thirtieth payment of $582.48 on your car loan, you wanted to find out how much is…

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