You owe $3545 on you credit card. Your minimum payment is 3% of that. The APR is 14.99% Using that information, how long will it take you to pay off that credit card?

Q: what is the 2%interest rate over 5 years

A: here given    carlos has 3000 to open a bank account p =3000 R =2% N = 5 years  I =PRN100

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

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Q: You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

A: It is given that,      r= annual interest rate=8%=0.08      k=monthly compounding=12      N=number…

Q: You owe $7200 on a credit card, your company says the minimum payment is 3% of what you owe. What is…

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Q: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

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Q: a car costs $12500 and youre offered a loan that requires $800 down and a monthly payment of 228.29…

A: Monthly payments of 228.29 for 66 months contribute to 228.29*66 = 15067.14   And 800 down payment.…

Q: Sergio applied for a job with a starting pay rate of $8.00 per hour. The manager who hired him said…

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Q: Suppose you want to have $700,000 for retirement in 25 years. Your account earns 9% interest. How…

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Q: You have $400,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

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Q: You take out a 7-yr car loan for $25,000 with a 7.5% APR. The fixed monthly payment is $383.46. How…

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

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Q: You put $399 per month in an investment plan that pays an ApR 6%. How much money will you have after…

A: Given: PMT=$399 APR=6% money after 15 years =?

Q: You borrowed money and need to pay interest on the loan. You must pay 5% of the $6500 loan to remain…

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Q: The number of orders received daily by an online vendor of used CDs is normally distributed with…

A: From the information, given thatLet X denotes the number of orders received daily by an online…

Q: You deposit $1000 each year into an account earning 6.1% interest. How much will you have in the…

A: Given Information :  Amount $1000 deposit each year into an account earning 6.1% interest.  Let,  P…

Q: You purchase a eight year bond with an APR of 4.75%. The face value of the bond is $6210. Find the…

A: Given that purchasing a eight bond with an APR of 4.75%. The face value of the bond is $6210. To…

Q: How much is the interest earned at the end of 4th deposit for the regular deposit of Php1500? Money…

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Q: You want to buy a 2020 Honda CRV, those run $20,050. You are going to put $2000 down. How much would…

A: Given, Price of Honda = $20,050 Down payment = $2000 We will find how much amount to be paid by…