You decide to quit using your credit card and want to pay off the balance of $13,300 in 2 years. Your interest rate is 21.35% compounded monthly. What will your monthly payments be? $ LA How much interest do you pay? $ LA

Q: Suppose you purchase a refrigerator for $1,275 and make payments of $59.91 per month for 2 years.…

A: We can solve this as follows:

Q: Pim borrows $200 at 11% per annum compounded quarterly for 6 years. Determine the interest due on…

A: Given Jim borrows $200 at the rate of 11% compounded quarterly for 6 years.

Q: You want to be able to withdraw $20,000 from your account each year for 20 years after you retire.…

A: Given: Withdrawable amount= $20,000 for 20 years. Expected retirement=3 years. interest rate 4%.…

Q: Henry deposits $7500 in an account earning 2.75% interest compounded monthly. What is the balance in…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

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: Find the monthly payment (in $) and the total interest (in $) for a mortgage of $42,000 at 52% for…

A:

Q: You owe $3545 on you credit card. Your minimum payment is 3% of that. The APR is 14.99% Using that…

A:

Q: Find the simple interest on a $2000 investment made for 2 years at an interest rate of 9%/year. What…

A: Formula for finding Simple interest (S.I)  is S.I=prtwhere p= principal amount,            r=rate of…

Q: you pay $6200 for a municipal bond. When it matures after 16 years, you receive $11,800. a. The…

A: (a)The future value FV=$11,800Present value PV=$6,200r= rate of return per annumn= number of…

Q: Find the simple interest. Principal   Rate   Time $4000   9%   1 year

A: Introduction :-  Here we want to calculate simple interest for the given situation.  Given :-…

Q: You make a payment of $300 at the beginning of each month into an account that 3.6%annual interest.…

A:

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

A:

Q: A savings account that has 850$ deposited on march 1st earns 0.4% annual interest compounded daily.…

A: