the annual mortgage rate

Q: What was the interest rate on a 2-year loan of $500 if the simple interest paid was $120 type your…

A: In this question we are given with principal and interest paid for 2 years and we have to find the…

Q: You think you need $1.5 million and your retirement advisor thinks you will average 6% a year on…

A: NOTE: Refresh your page if you can't see any equations. . here we have FV=1.5million=1500000 n=1 for…

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: Johnny Rockefeller had a bad credit rating and went to a local cash center. He took out a $100.00…

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Q: d 500 as a monthly payment for a new car. Your bank offers car loans at 4.5% APR for 3 years. How…

A: Introduction: The formula for the monthly payment is given by, M=Pr1+rn1+rn-1 Where P is amount of…

Q: deposited ​$7,000 into a savings account 5 years ago. The simple interest rate is 2​%. How much…

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Q: Your parents bought a car six years ago for $21,000. It depreciated at a rate of 15% per year. How…

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Q: An account invested in a money market fund grew from $31,865.17 to $31,925.09 in a month. What was…

A: Answer FV =31925.09PV =31865.17

Q: Paul Peters received a statement from the ABC Department Store showing a previous balance of $90. If…

A: Interest = (Rate of interest × Amount× Time)/100 Amount = $90 ROI = 2.5% Time = 1 Month

Q: Leona Jefferson purchased a home and obtained a 25-year loan of $438,000 at an annual interest rate…

A: Given that Leona Jefferson purchased a home and obtained a 25-year loan of $438,000 at an annual…

Q: Jeremy has a credit card with an unpaid balance of $1,210. If he is charged an interest rate of…

A: The objective of this question is to calculate the finance charge for the month on Jeremy's credit…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: Nicolas Cage borrowed $3,456 from his nephew to fund his new movie. Eight months later, he paid back…

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Q: My car depreciates 8.4% per year. Its original value was $20,000. Find its value 8 years later.…

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Q: If $1900 earned simple interest of $38.95 in 6 months, what was the simple interest rate? The simple…

A: I = 38.95 P = 1900 t = 6months=   (1/2) = 0.5

Q: You put a $4,500 dining set on layaway and put down a 10% deposit. What is the balance?

A: Answer

Q: A loan for ​$3,500 with a simple annual interest rate of 8​% was made on June 26 and was due on…

A: From the given data,  The principal, P=$3,500 Rate of interest, R=8% Time, number of days from 26th…

Q: Acme Shoes marked up a pair of shoes from the $43.00 cost to $75.00. To the nearest 0.01%, what is…

A: We have given that Mark up price = $43.00 Cost price = $75.00