A car dealer will sell you a used car for $6,498 with $798 down and payments of $162.51 per month for 48 months. What is the simple interest rate? (Round your answer to the nearest tenth of a percent.)

Q: You have agreed to pay off an $8,000 car loan with 24 monthly payments of $400 each. Use the simple…

A: Formula used: To find the interest rate in simple interest:…

Q: You want to buy a $24,000 car. The company is offering a 2% interest rate for 36 months (3 years).…

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Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: Lynn needs to borrow $5500 for cosmetic surgery. She obtains a loan from her grandmother for 48…

A: Given: Lynn borrows a loan for cosmetic surgery of $5500 at simple interest rate 7.3% for 48 months.

Q: A man made a loan of $102 to be repaid with $129 at the end of 5 months. What was the annual…

A: Ans-In this question we have to find the simple interest rate . Simple Interest=P×R×T100

Q: amanda is taking a 16,655, 5 1/2 year car loan. with an APR of 4.45%. how much will amanda pay in…

A: We are asked to find the interest amount of the loan.

Q: The father has just donated $25,000 to a church. His son would like to donate an equivalent amount,…

A: Given;  Principal =$ 25000 Time = 5 years  Rate = 8.2%.

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Suppose that you decide to buy a car for $32,635, including taxes and license fees. You saved $9000…

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Q: You want to buy a $21,000 car. The company is offering a 3% interest rate for 60 months (5 years).…

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Q: Calculate the simple interest due on a 66-day loan of $3700 if the interest rate is 4%. (Round your…

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Q: Use simple interest to find the ending balance: $6,400 at 3.9% for 5 years Show your work.

A: The given problem is to find the ending balance when $6400 at 3.9% for 5years by using simple…

Q: Three years ago, Pete took out a loan of $55,000.  The loan was taken out for 10 years with an…

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Q: interest

A: we know that simple interest formula simple interest =P×R×T100where P is principal amountR is…

Q: Jeremy has a credit card with an unpaid balance of $1,210. If he is charged an interest rate of…

A: The objective of this question is to calculate the finance charge for the month on Jeremy's credit…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: Your electric bill is $128. You are charged 12% simple interest for late payments. How much do you…

A: Solution-: Given: Amount of  electric bill is $128. Rate of simple interest =12% . How much do you…

Q: If you sign a discount note for $9,500 at a bank discount rate of 7% for 3 months, what is the…

A: Given information Principal P=$9,500 Rate of interest r=7% ⇒r=7100=0.07 Time t=3 months Hence, t=312…

Q: Perry took out a payday loan for $1350 that charged a $55 fee. If the loan matures in 1 week, what…

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Q: Mr. Smith buys a television that is listed for $1500. He pays $500 down and pays the balance in 12…

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Q: Find the monthly payments (just PMT) on a 20-year mortgage for $191,888 if the annual interest rate…

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Q: You want to buy a $13,000 car. The company is offering a 4% interest rate for 48 months (4 years).…

A: Where,PVA = Present value of the annuityA = Monthly paymenti = Monthly interest rate in decimal…