Jarvis is buying a boat that costs $6,000. He has $500 for a down payment. He is deciding between a 2-year loan and a 3-year loan. Use the rates in the table to determine how much money he will save if he chooses the 2-year loan instead of the 3-year loan. Round to the nearest cent.   Time (years)  Simple Interest     Rate (%) 1 1.5 2 2.25 3 3.0

Ashley lives in a condominium in downtown Toronto and works as a business analyst. He earns an annual take-home salary of $61,200, and every month he spends $1,500 on rent, $500 on car expenses, $200 on a line-of-credit interest payment, $400 on miscellaneous expenses, and saves $2,500. a. What percent of his monthly take-home salary are his monthly expenses? %= Round to two decimal places. b. His financial advisor suggested he invest 27% of his take-home salary in a mutual fund. What percent of his current savings would this amount be? %E Round to two decimal places.

Tony's Towing borrows $17,250, at 7.5% interest, for 320 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent.) O $718.75 $1,134.00 O $1,134.25 O $1,293.75

Use PMT = . Round to the nearest dollar. Suppose that you borrow $10,000 for four years at 7% toward the purchase of a car. Find the monthly payments and the total interest for the loan.   A.$281; $13,488 B.$239; $1472 C.$624; $19,952 D.$239; $11,472