You have $3,500 on a credit card that charges a 15% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?

Q: Joe Borowski invested $10,500 in a mutual fund one year ago. During the year, his fund increased in…

A: Given data: The amount invested by Joe in a mutual fund is P=$10,500. The interest gained by Joe is…

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

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Q: You borrowed $120,000 for a house and will have to pay $1,090 a month for 15 years. True or False:…

A: We can say it true or false with reason as below.

Q: How much money does Nora have for her car down-payment if she invests $750 at a monthly interest…

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Q: You know you will have $25,000,000 in your account when you retire. You want to be able to take…

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Q: Mr. Nelson had to borrow $1500 to purchase a new water heater after the snowpacalypse. The loan had…

A: Question is related to interest.

Q: You deposit $200 monthly in a saving plan with APR of 6% for 10 years.  How much would your…

A: The APR stands for annual percentage rate which represents the rate at which the amount will…

Q: Hector's second option for purchasing his $24,000 car is a loan with 4.5% interest over four years.…

A: Hector purchasing his car is a loan with  interest over four years.The aim is to find out how much…

Q: You can afford a $200 per month car payment. You've found a 3 year loan at 4% interest. How big of a…

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Q: Penny makes deposits into two separate accounts for 2 years. Option A: $800; 6% annual simple…

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Q: Kachina Caron invested $1800 in a simple interest account and earned $36 in 3 months, what is the…

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Q: You invest $10,000 in the Big Delta mutual fund. Over 5 years, your investment grows in value to…

A: According to the given data Initial investment is $10000 After 5 years it becomes $17320 That means…

Q: You can afford a $250 per month car payment. You've found a 5 year loan at 2% interest. How big of a…

A: We have to solve given Questions.

Q: What interest will be charged on a $1200 loan for 9 months if the rate is 12%simple interest

A: In the given question we have to calculate the simple interest on $1200 loan for 9 months at the…

Q: Ernie Rolph borrowed $5100 at 6% annual simple interest. If exactly 1 year later he was able to…

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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: Jessica deposits $2435 at the beginning of each semiannual period for 8 years in an account paying…

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Q: John buys a stereo system for $640. He agrees to pay $32 a month for 2 years. Assuming that interest…

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Q: You can afford a $250 per month car payment. You've found a 3 year loan at 4% interest. How big of a…

A: The objective of this question is to find out the total loan amount that can be afforded with a…