Find the simple interest on $31,200 at 5.25% for 107 days. Assume 360 days in a year and 30 days in a month. The simple interest on $31,200 at 5.25% for 107 days is $. (Round to the nearest cent.)

Q: Find the compound interest on a $3,500 investment at 0.5% compounded daily for 16 days. E Click the…

A: Compound Interest(CI) is method to provide interest where Interest is added to Principal for…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $5000, r = 6.8%, t = 25 days

A: Simple interest: As the name indicates it is a simple interest computed on the amount of principal.…

Q: What is the present value of an $800 perpetuity if the interest rate is 8%? If interest rates…

A: Present value of perpetual cash flows is computed by following formula:-PV = wherePV = Present value…

Q: Suppose you invest $1,500 in an account paying 6% interest per year. How much of this balance…

A: Interest earned refers to the profit over the investment earned by the investors at a specified rate…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $2600, r = 5.9%, t = 6 months

A: Simple interest is the return which only the principal amount of the investment earns. There is no…

Q: Find the principal P that corresponds to the future value F = $10,000 under r = 5.2% interest…

A: To calculate principal P, we need to use time value of money formulae.

Q: Compute the simple interest INT for the specified length of time and the future value FV at the end…

A: Simple interest is the formula for determining interest with respect to the principal amount, time,…

Q: Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t…

A: Principal amount (P) = $43,000 Interest rate (r) = 9 3/4% = 9.75% Period (t) = 9 Years Compounding…

Q: nk will lend you $4,000 for 45 days at a cost of $50 interest. What is your effective rate of…

A: Effective interest rate is the interest rate after considering the impact of compounding on interest…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $7,000, r = 6.2%, t = 8 monthS

A: First, converting R percent to r a decimalr = R/100 =  = 0.062 per year,Total no. of years = =…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $3900, r = 5.3%, t = 6 months

A: P = $3900 r = 5.3% t = 6 monnths

Q: Calculate the simple interest earned. Round to the nearest cent. P = $3800, r = 5.9%, t = 6 months

A: Simple interest: As the name indicates it is a simple interest computed on the amount of principal.…

Q: COMPOUND INTEREST (a) Find the simple interest on 60,000 for one year at 10%. (b) Find the compound…

A: a) Simple Interest = Principal * Interest rate * Time period = 60,000 * 10% * 1 year = 6,000

Q: Find the simple interest. Assume a​ 360-day year. ​$5566.49 at 3.1​% for 65 days the simple interst…

A: Simple interest is very simple and there is no interest on interest and there is no compounding of…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $5000, r = 9.5%, t = 20 days

A: Simple Interest = P * r * t where, P = $5000, r = 9.5%, t = 20/365

Q: If you were to use the TVM Solver to determine how much money would be in an account (that earns…

A: Future value(FV) is value of current amount at future date that is computed by compounding current…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $3600, r = 5.3%, t = 6 months

A: The effective annual rate of interest is the actual or the real rate of interest paid or received…

Q: In one year you will receive 1800. In two yeara you will receive 1, 900. The discount rate is 4%.…

A: PV = FV / (1 + r)nWhere:PV is the present valueFV is the future valuer is the discount rate (here,…

Q: If $27895 is borrowed for 5 months and P688 is paid, then the annual simple interest rate is…

A: Simple interest is one of the form of interest in which interest is charged on original investment…

Q: Assume that $30,000 is due in 3 years at the given rate of interest. (Use a 365-day year.) 3%/year…

A: Interest rate = r = 3% Compound = m = quarterly = 4 Time = t = 3 years Number of compounded period =…

Q: onsider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using…

A: Equated Monthly Installments are one part of the equally divided monthly outgoes to clear off an…

Q: Use the compound interest formula A=P (1+(r)/(n))^(nt) to compute the total amount after $2000 is…

A: An interest method in which current interest is computed by multiplying the interest rate by the sum…

Q: Find the present value of the given future amount. $43,000 for 3 months at 9% simple interest What…

A: Lets understand the basics. Present value is a value of any future amount into present. For…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $2250, r = 4.00% monthly, t =…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: Find the interest. Round to the nearest cent. 1) $600 at 2% for 6 years

A: To find the simple interest, you can use the formula:Simple Interest=P×r×twhere:P is the principal…

Q: Calculate the simple interest rate when P=$3600 , I=_160 and t=4 months. Round to the nearest…

A: Compounding is the interest charged on interest. When any investment is made for certain years, the…

Q: For the following exercise, use the compound interest formula, A(t) = = P(1 + 1)^², Submit Answer ,…

A: Future value refers to the worth of amount in an account after years of compounding of interest.…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $9080, r = 5.25%, t = 4 months

A: Simple interest means that the borrower only needs to calculate interest each year on the principal…

Q: Assume that a one-year CD purchased for $1000 pays an APR of 6% that is compounded semi-annually.…

A: Here, Value of CD is $1,000 Time Duration is one year Interest Rate is 6% Compounding period is…

Q: Use the continuous compound interest formula to find the indicated value. P= $2,000; r = 4.65%; t =…

A: Principal = $2000 r = 4.65% T =9 years  A = P * e^(r*t) where e =2.71828

Q: Fill in the table below when P= $10,000, S= $2,000 (at the end of four years), and i=15% per year.…

A: The opportunity cost of interest = Investment at the beginning of the year * Interest rateCapital…

Q: Consider a borrowing of $400,000, with monthly payments to be made over 15 years with a 15% add-on…

A: Borrowing = $400,000Number of years for which monthly payments are to be made = 15 yearsAdd- on…

Q: Find the accumulated value of an investment of $10,000 for 3 years at an interest rate of 5.5% if…

A: Future value =Present value *(1+rateper period)^n

Q: Calculate the simple interest earned. Round to the nearest cent. P = $9070, r = 6.50%, t = 8 months

A: Simple Interest = P * r * t where, P = $9070, r = 6.50%, t = 8 /12

Q: Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t…

A: Future Value is that value which depend upon the present value and rate of interest which is earned…

Q: The principal P is invested at the interest rate of r/year for t years. (Use a 365-day year.) P =…

A: Compound interest rate refers to the rate at which interest is calculated and added to the principal…

Q: Find the value of a $3000 cettificate in 2 yrs, if the interest rate is 10% compounded anually.…

A: Present Value = $3,000 Time Period = 2 Years Interest rate = 10%