Vincent had to make payments of $1,125 every 6 months to settle a $23,000 loan that he received at 5.12% compounded semi-annually. a. How long did it take to settle the loan? years months

Q: Moe takes out a conventional loan to purchase a car. The interest rate is 8.3% compounded monthly,…

A: amount of the loan is  $12000 monthly interest rate=8.3% compounded monthly

Q: A loan of $14400 is to be repaid in end of quarter payments of $600. How many payments are required…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: A student pays back a loan (principal + interest) of $12 344. If it compounded weekly for 4 years,…

A: A=P1+rnnt

Q: Jenny invests $9,000 at 8% compounded annually in an annuity. How long until Jenny has $18,000

A:

Q: ou can afford monthly deposits of $190 into an account that pays 4.2% compounded monthly. How long…

A: Given information -  Monthly deposits = $190 Rate of interest = 4.2% The interest is compounded…

Q: Cassandra received a loan of $7,700 at 4.25% compounded monthly. She settled the loan by making…

A: To determine the size of the periodic payment.

Q: Rosa Burnett needs $7,000 in three years to make the down payment on a new car. How much must she…

A: Given information Future value=$7,000 Rate of interest r=0.5% compounded annually ⇒r=0.5100=0.005…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A:

Q: Courtney obtained a loan of $25,000 at 5.8% compounded monthly. How long (rounded up to the next…

A:

Q: Sallie wants to buy a new home.  She will borrow $400,000 at 3% compounded monthly for 30 years.

A: Given, Initial amount: Interest rate: Interest rate for compounded monthly: Number of years:…

Q: Alexander loaned $70,000 to a small business at 4.18% compounded monthly for 1 year and 6 months.…

A: Alexander loaned  to a small business at  compounded monthly for  year and  months.We have to find…

Q: David plans to purchase a motorcycle. He needs to borrow $7500 and interest is 8% per annum…

A:

Q: . Find the size of the payments if money earns 3% compounding quarterly.

A: Given: Helen has borrowed $4000, and agreed to pay it back in two equal payments to be made in 6…

Q: Jodie deposited $10,000 into an account paying 6.5% interest, compounded quarterly.  She needs to…

A: Let's say it will take t years to make the down payment

Q: If $800 is borrowed and the interest after 6 months is $72, what is the annual interest rate for a…

A:

Q: Find the amount of money owed at the end of 5 years if $60,000 is borrowed at 7% per year compounded…

A: Here we have to find amount of money at the end of 5 years if money borrowed is $60, 000 at 7% rate…

Q: How much money could you withdraw each quarter of a year for 4 years if you deposited $50,000 into…

A: To Find: How much money we could withdra each quarter if the account pays 4% interest compound…

Q: What is the interest due if $500 is borrowed for 6 months at asimple interest rate of 6% per annum?

A: Given:     Principal (P) = $500     Interest rate (r) = 6 %     Time (t) = 6 month =612 year Simple…

Q: Determine the amount to be paid back if $6500 is borrowed for 9 years at 2.5% compounded annually.

A: We have direct formula for compound maturity amount, i have used that.

Q: Laurie took out a business loan of $82,000 earning an annual interest of 8.2% compounded quarterly.…

A: We have to find how much Laurie need to pay towards the loan every quarter in order to pay off the…

Q: How much will need to be paid in full on a loan of $2200, at a rate of 4.2% simple interest for 6…

A:

Q: Courtney received a loan of $51,000 from the bank at 4.00% compounded monthly. If she had to repay…

A: To calculate the principal balance at the end of 3 years, use the following formula:A = P(1 +…

Q: A loan of 18,000 is made at 4.5% interest, compound annually. After how many years will the amount…

A: Given, Principal = p = 18,000Rate of interest = r = 4.5%  compounded annually Amount = A  ≥24, 000…