Your parents lent you $932 to pay your rent 2 months ago. You just paid them back today and gave them $60 extra for interest. What is the annual percentage rate (APR)?
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Your parents lent you $932 to pay your rent 2 months ago. You just paid them back today and gave them $60 extra for interest. What is the annual percentage rate (APR)?
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- You borrow $5000 from a family member and agree to pay it back in 5 months. Because you are part of the family, you are only being charged an interest at the rate of 0.5% per month. How much will you owe after 6 months? How much is the interest? What is the effective interest rate? What is the corresponding nominal 1. rate?A family is saving for their child's education. They want to have $80,000 eighteen years from now . a.) How much do they need to deposit each month into an account earning 7.2% interest compounded monthly? b.) What is the interest earned on the account?You borrow $500 from a family member and agree to pay it back in six months. Because you are part of the family, you are only being charged simple interest at the rate of 0.5% per month. How much will you owe after six months? How much is the interest? The interest is $ (Round to the nearest dollar.) C
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- You are working at Grey Company. You purchased a house in 2020. Gray Company gave you a housing loan on May 1, 2020 for $80,000 at a rate of 2 percent interest. You pay the interest on the loan every month. The 2020 prescribed interest rates are as follows: First quarter Second quarter Third quarter Fourth quarter What is your taxable benefit on the above loan for 2020? A) Nil. B) $267.40. C) $670.68. D) $1,073.97. E) $2,147.95. F) $667.40. 5% 4% 3% 3%Tabitha had to pay her friend $1,200, 3 months ago and he has to pay $510 in 4 months. If her friend was charging her an interest rate of 0.80% per month, what single payment would settle both payments today? $0.00Your parents agree to give you an allowance of $20 at the beginning of each week. The allowance increases each week by 2%, however. How much total allowance will you have been paid at the end of one year (1st and 52nd years beginning deposits are included, and total 52 weeks )? 1900 2220 1700 1800
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