Suppose you wish to borrow $800 for five weeks and the amount of interest you must pay is $20 per $100 borrowed. What is the APR at which you are borrowing money?

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: If you invest $30,000 at 4.76% interest paid quarterly, how long would it take you to double your…

A: PrincipalP=30,000 Rate of interest r=4.76%=0.0476 Double the principal A=60,000 To find: time t…

Q: Suppose your one month balance (debt) on your credit card is $2000. If the monthly interest rate for…

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Q: The figure shows estimated medical costs versus what a user actually pays for three health insurance…

A: Observe the graph clearly you can see that at 3000 estimated cost Value for 1000 deduction is around…

Q: Lupe Gonzalez has $15000 in her retirement account. Find the interest rate required for the fund to…

A: We will find out the required value of rate of interest.

Q: You are paid time-and-a-half for each hour worked over 40 hours a week. Last week you worked 50…

A: Given You are paid time-and-a-half for each hour worked over 40 hours a week

Q: Suppose your balance (debt) on your credit card is $2000. You spend $150 in a month using your…

A:

Q: . Find the simple interest (I = Prt) of $10,000 invested for 6 years at an annual simple interest…

A: Definition: simple interest If an amount of money,  P , the principal, is invested for a period of…

Q: If you start working with a savings account with a $.25 in it and your boss double it each day for 3…

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Q: Suppose you wish to borrow $800 for five weeks and the amount of interest you must pay is $25 per…

A: The objective of this question is to calculate the Annual Percentage Rate (APR) for a loan of $800…

Q: If $600 is borrowed and the interest after 24 months is $120, what is the annual interest rate for a…

A: Solution

Q: Use PMT= to determine the regular payment amount, rounded to the nearest dollar. In terms of paying…

A: PMT =P(rn)[1-(1+rn)-nt] Here,          Principle P=$210,000Interest r=8.5 % =0.085Monthly payment n…

Q: Suppose your have no balance (debt) on your credit card.  If you spend $150 in a month and paid…

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Q: An investment of $1500 paid interest of $120. How much interest would $2000 invested at the same…

A: Let x represents the interest paid for the investment $2000. Given that, the interest paid for the…

Q: If $1000 is deposited in an account that pays interest quarterly, and if the money grows to $1150…

A:

Q: what is the rate of return when 25 shares of stock a, purchased for 30/share, are sold for $825? The…

A:

Q: Suppose a company offers you a job which will last only 100 days. The job pays $110 the first day…

A: First term= a1= 110 Common difference=d= 2.50 Number of terms = n = 100 a) My earning on the 100 th…

Q: f. Now suppose that Lynn contributes nothing to her retirement fund for eight years and then begins…

A: Given:-           Now suppose that Lynn contributes nothing to her retirement fund for eight years…