A firefighter for the National Park Service has a 5-year car loan for which the monthly payment is $680.46 with an annual interest rate of 3.75% compounded irefighter decides to trade in the car for a new car. Calculate the amount (in dollars) the firefighter still owes on the car. (Round your answer to the nearest cer

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: If $5,000 is borrowed at a simple interest rate of 3.70% p.a., calculate the interest charged for 10…

A: Simple Interest: Simple interest is a method of calculating interest on a loan or investment based…

Q: Find the minimum payment on an unpaid balance of $1,416.02. Assume that the minimum payment on a…

A: Solution: Given, Unpaid balance = $1,416.02 The minimum payment on a credit card is the greater of…

Q: If $5,000 is borrowed at a simple interest rate of 4.55% p.a., calculate the interest charged for 10…

A: Given principal amount=$5000. Simple interest rate of 4.55% p.a.time=10 months.simple interest=where…

Q: Consider a student loan of $15,000 at a fixed APR of 6% for 15 years. a. Calculate the monthly…

A: 1) a) Amount borrowed = $67,000, Annual Interest rate = 4%, the number of payments per year is 12…

Q: Find the mortgage payment for a 15 year loan of 224,900$ at an annual interest rate of 8.05%. Round…

A: Given Pmt=Mortgage payment P=loan amounts=$224900 r=rate per period=0.0805 n=number of payment=15

Q: Diana secured a 6-year car lease at 5.60% compounded annually that required her to make payments of…

A: Rate of interest 5.60 % p. a.Monthly payment, PMT $881.65Downpaymsnt $1500

Q: at payment on January 31, 2014 will settle an invoice for $3,400 dated January 27, 4 and payment…

A:

Q: Determine the monthly principal and interest payment for a 20-year mortgage when the amount financed…

A: To calculate the monthly principal and interest payment for a mortgage,  using the standard formula…

Q: accumulate enough money for a down payment on a house, a couple deposits $597 per month into an…

A: We will find out the required value.

Q: what lump sum do parents need to deposit in an account earning 7% compound monthly so that it will…

A: Here r=7%=0.07, n=12 ,A=$100000, t=15. Let parents need to deposit the lump sum $P We find P.…

Q: xander received a $22,950 loan from a bank that was charging interest at 4.25% compounded…

A: The loan amortization formula iswhere A is the period payment, P is the loan amount, i is the…

Q: Find APR (rounded to the nearest tenth of a percent) for the loan. Purchase a living room set for…

A: We know,  APR = 2Nr/N-1

Q: Calculate the simple intrest for $2400 borrowed for 2 years at 4% per annum

A:

Q: Hank made payments of $105 per month at the end of each month for 30 years to purchase a piece of…

A: given payment $105 per month FV=$98310 t=30 years  =30×12 month  =360 month claim- (1) find the…

Q: For her daughter's education, Georgina Harcourt has invested an inheritance in a fund paying 3.7%…

A: Given,PMT  Number of years  Interest  compunded annually

Q: Solve for Compound Interest and Amount.......6 month.....Principal $15,000........Rate…

A: The given principal amount at the rate  for months compounded semi-annually.The objective is to…

Q: Toby takes a one year loan from the bank for $50,000. The bank charges a nominal interest rate of…

A: Given,

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…

A:

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products. 

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.