Sylvie borrows $550 for a new smartphone. Her 2-year loan has 1.4% annual interest compounded monthly. What is the total cost of Sylvie's loan after she makes all the payments? $599.52 $553.92 $565.61 $558.00

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: Bastian takes out a $3,500 personal loan with 5.6% fixed annual interest compounded monthly to pay…

A: This is a compound interest problem. The correct option here is option (B) Solution provided below

Q: Jose has $4,800 to invest in a saving account. He receives a steady interest rate of 3.35% compunded…

A: Given Jose has $4800 to invest in a saving account . he receives a steady rate of 3.35% compounded…

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: James wants to buy a car that costs $14,550. The dealership will finance the car for 5 years, at…

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Q: Manjot Singh bought a new car for $14 888 and financed it at 8% compounded seni-annually. He wants…

A: Given price of new car is P=$14,888 Interest rate r=8% compounded semi annually ⇒r=8100=0.08 Pay…

Q: Find the amount due if $600 is borrowed for 9 months at 8% simple interest. Amount = $ %3D

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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: Local officials are analyzing the data for the tiger gar and bluegill populations in 2021. According…

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Q: much is the monthly payment?

A: To find the monthly payment.

Q: You have $300,000 saved for retirement. Your account earns 7% interest. How much will you be able to…

A: It is given that the present value in the is $300,000, rate of interest is 7% and the number of…

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…