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Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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Janet’s payments on her $12,500 car are $420 a month for 3 years. Assuming that interest is compounded monthly, what interest rate is she paying on the car loan?
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- Mary and Kevin buy a vacation home for $350,000 down and take out a 15- year mortgage for the remainder. If their annual interest rate is 6%, how much will their monthly mortgage payment be?arrow_forwardFind the interest paid on a loan of $2,100 for three years at a simple interest rate of 12% per year.arrow_forwardMitchell has been given the option of either paying his $800 bill now or settling it for $816 after 1 month (30 days). If he chooses to pay after 1 month, find the simple interest rate at which he would be charged.arrow_forward
- Find the time needed in years to make $ 50,000 from $ 30,000 if the simple interest rate available is 17%.arrow_forwardIf you pay $1,277 each month on your home mortgage for 20 years, how much will you pay in total for the home?arrow_forwardFind the amount of simple interest on a loan of $3,500 at 9 1/2% interest for 14 years.arrow_forward
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