A vehicle purchased for $29800 depreciates at a constant rate of 5%. Determine the approximate value of the vehicle 11 years after purchase.

Q: Calculate the simple interest earned. Round to the nearest cent. P = $5000, r = 3.3%, t = 22 days

A:

Q: sted is compounded monthly rather than compounded annually?

A: We cannot add funds to the present account so annuity will cover the present worth but cannot be…

Q: Find the effective annual yield to the nearest hundredth of a percent for an account paying 2%…

A: For compounded monthly, n=12

Q: Determine the rate that represents the better deal. 6% compounded quarterly or 6 (1/4) , compounded…

A: The first rate of interest, r1=6% compounded quarterly. Then, the number of terms for r1 is n1=4.…

Q: Carl placed $3,200 in a savings account that compounds interest annually at a rate of 1.0%. How much…

A:

Q: Assume a 6 month CD purchase for 5,000 pays simple interest at an annual rate of 9.5. How much…

A:

Q: Find the effective rate of the interest that is equivalent to an 9% rate compounded monthly.

A: Effective rate of interest :   The Effective Annual Interest Rate (EAR) is the interest rate that is…

Q: Calculate the compound amount for P = $1500 , r = 6.25% , compounded quarterly for 5 years.

A:

Q: What is the rate on an investment that doubles $9916 in 20 years? Interest is compounded quarterly.

A:

Q: A vehicle purchased for $20,700 depreciates at a constant rate of 8%. Determine the approximate…

A: Vehicle purchased for $20,700 Rate of depreciation is 8% Time = 11 years To determine the value of…

Q: An account is compounded monthly for 5 years with an APR of 9%. For the principle amount of $15,000.…

A:

Q: What nominal rate of interest, compounded monthly, corresponds to an  effective rate of 4.5% ?

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: A bank account uses simple interest. If 10,000 is deposited at a rate of 4% interest, how much money…

A:

Q: A vehicle purchased for $25,000 depreciates at a constant rate of 9% per year. Determine the…

A: To find : Approximate value of the vehicle 12 years after purchase .

Q: A vehicle purchased for $32,500 depreciates at a constant rate of 7%. Determine the approximate…

A:

Q: A vehicle purchased for $29,800 depreciates at a constant rate of 9%. Determine the approximate…

A: Here we have to find the depreciation in the value of the vehicle

Q: 2. At an interest rate of 2% per month, the money will double in value in how many months?

A: The compound interest formula for an amount P compounded per month at a rate of r% for n months is…

Q: how much will a invesment of $500 be worth after 7 years if it earned a yearly rate of 7.2%…

A:

Q: Mr. Reyes borrowed P125,000 at 5% rate of interest for 4 years. What percent greater is the amount…

A: Solution

Q: f you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: In this question, the concept of compounded interest is applied. Compounded Interest  Compound…

Q: Francine currently has $70,000 in her 401k account at work, and plans to contribute $6,000 each year…

A:

Q: the per age. (R your earest cel $800,000 borrowed at 7% for 2 years, with quarterly payments

A: Use formula of periodic payment

Q: An insurance company pays claims for bills from a physical therapist as follows: They take the…

A: Given  Actual bill is reduced by 10% Percentage paid of the remaining amount =35%

Q: A car is purchased for $38,500. If it is sold 7 years later for a price of $22,000. At what yearly…

A: Consider the provided question, Given, Principal (P) = $38,500 Amount(A) after 7 years = $22,000…

Q: Calculate the simple interest rate when P=$3,600, I=$160 and t=4 months. Round to the nearest…

A: The simple interest, I is calculated using the formula: I=Prt, where P is the principal amount, r is…

Q: On a balance of $25,000 the finance company charged simple interest of $4,000 for 2 years. Find the…

A:

Q: What is the simple interest rate on a $2100 investment paying $771.75 interest in 10.5 years?…

A:

Q: If a bank advertises "triple your money in 12 years", what simple rate of interest is it offering?

A: We need to calculate the simple interest that the bank offers. The bank says "triple your money in…

Q: 3600 dollars is placed in an account with an annual interest rate of 9%. How much will be in the…

A: Given that $3600 is placed in account with an annual interest rate of 9%.

Q: A car was bought for $85,000. It was sold 10 years later for $20,500. At what yearly rate did it…

A:

Q: How much interest will Roxanne have to pay if she borrows $2000 for 2 yr at a simple interest rate…

A:

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

A:

Q: How much interest will Roxanne have to pay if she borrows $1000 for 2 yr at a simple interest rate…

A:

Q: Anibal invests $4,250 at 6% loterest, compounded quarterly for 1 year. Calculate the effective…

A: Consider the given information.

Q: Melissa has an offer from a credit card issuer for 0% APR for the first 60 days and 28.49% APR…

A:

Q: A loan company charges $50 interest for a one month loan of $1000. Find the annual interest rate…

A:

Q: An item has a new selling price of P200.00 and markdown of P30.00. Find its original sel and…

A: Given that: New selling price = P200Markdown = P30.00

Q: A vehicle purchased for $29,800 depreciates at a constant rate of 6%. Determine the approximate…

A: Given, The original value of the vehicle, P = $29,800, Rate of depreciation, r = 6% = 0.06 Time, t =…

Q: A $40,000 investment in a mutual fund doubled to $80,000 in 5 years. What was the investment’s…

A:

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

A:

Q: Calculate the simple interest earned. Round to the nearest cent. P = $5000, r = 6%, t = 1 year

A: Consider the given values, P = $5000, r = 6%, t = 1 year The simple interest formula is defined as,…

Q: find the effective rate for a nominal rate of 6% compunded monthly. write your answer as a percent…

A:

Q: A vehicle purchased for $32,500 depreciates at a constant rate of 4%. Determine the approximate…

A: Depreciation on a vehicle can be determined by the formula v = c ( 1-r)t ---- [ I] where V is the…

Q: For a sum of P8000.00 to double itself in 12 years and 9 months, what must be the rate of interest…

A:

Q: Calculate the simple interest earned. Round to the nearest cent. P = $8000, r = 9%, t = 1 year

A:

Q: nd the savings plan balance after 3 years with an APR of 4% and monthly deposits of $400

A: Given that: Monthly deposit = $400 Time = 3 years APR = 4% To determine the balance after 3 years.

Q: Calculate the simple interest earned. Round to the nearest cent. P = $3000, r = 4.8%, t = 19 days

A: P = $3000  r = 4.8%,  t = 19 days t=19365=0.052 year simple interest=I I=prt…

Q: A bank deposit paying simple interest at the rate of 8% per year grew to a sum of $1200 in 10…

A: The formula for Simple Interest is given by S.I=PRT100 where P is the principle, R is the rate and T…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $2600, r = 8%, t = 1 year

A: