Joe Borowski invested $10,500 in a mutual fund one year ago. During the year, his fund increased in value by $525. What interest rate has Joe's invested earned?

Q: A principal of P86, 000 will amount to how much when invested 2 years and 6 months at 11.25%…

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Q: If a nine-month term deposit at a bank earns a simple interest of 9% per annum, how much will have…

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

Q: You have $5000 on a credit card that charges 18% interest rate. If you want to pay off the credit…

A: It is given that, PVA=$5000, i=0.18, n=4, a=12

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

A: Here I am attaching image so that you understand each and every step.

Q: A recent college graduate moves back in with their parents and invests their entire first-year…

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Q: If you want to earn 14% annual simple interest on an investment, how much should you pay for a note…

A: We Have Interest= Principal * rate * time(in years). Interest = 6200 Rate=14/100 and time= 6 months…

Q: Melissa Blum deposits $7500 of lottery winnings in an account paying 6% interest compounded monthly.…

A: Effective rate for compound interest: If r is the annual stated rate if interest and m is the number…

Q: If you were investing money in an account and the interest rate was the same either way, would you…

A: If the same amount of money is deposited and the same rate of interest is applied then: Simple…

Q: A math teacher won a lottery that pays $1,000 per month for the next 20 years. But, he prefers to…

A: To find out the amount that the teacher will accept now.

Q: A retiree invests $8,000 in a savings plan that pays 6% per year. What will the account balance be…

A: Given  invested amount  =  $ 8,000 intrest rate  = 6% per year

Q: If the simple interest on $3,000 for 7 years is $1,050, then what is the interest rate? The rate is…

A: We need to solve it by the basic formula of simple interest.First we need to specify the given…

Q: If you deposit P5,500 in a bank at an annual simple interest rate of 0.5%, how much money will you…

A: Given  Principle(P) = 5500 Rate(R) = 0.5 Time(T) = 12   By the formula SI = PRT100 = 5500×0.5×12100…

Q: On January 1, 2009, Molly owed $7,388 to her friend Juan, who was kind enough not to charge Molly…

A: Given, The amount of money Molly owed to Juan on Jan 1 2009 is =$7388 The amount of money Molly owed…

Q: 3. Mocca Blanca invested P45, 000 for 2 years and 8 months and earn P12,450 interest. What was the…

A: Mocca Blanca invested P45, 000  for 2 years and 8 months and earn P12,450 interest . We have to find…

Q: You owe $5,000 on your credit card, and you plan to pay it off through monthly payments of $100. If…

A: We use formulas: Simple Interest(SI) = (PRT)/100, where P = Principal Amount, R = Rate and T = Time…

Q: A debt of P20, 000 is due on December 1, 2020. What was the value of this debt on December 1, 2018…

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Q: You have $2,500 on a credit card that charges a 14% interest rate. If you want to pay off the credit…

A:

Q: A bank loaned out $600,000, a part of it at the rate of 12% per year and the rest at a rate of 6%…

A: Let the amount loaned at 12% be: x Let the amount loaned at 6% be: y Total amount loaned out is: $…

Q: You have $3,500 on a credit card that charges a 19% interest rate. If you want to pay off the credit…

A: We have to calculate monthly amount.

Q: You have $2,000 on a credit card that charges a 18% interest rate. If you want to pay off the credit…

A:

Q: How much should Allyson put into 6% saving account in order to have Php. 100,000.00 in 5 years?

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Q: If you make $400 in simple interest on an investment at 8% for 5 years, what is the amount of the…

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Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How much money will be…

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Q: If you had the choice of 5% simple interest or 5% compound interest for a savings account, which one…

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Q: A bond was purchased on January 1, 2016 for $750. If its value increases by 8.2 % every year, how…

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Q: What simple interest rate will convert a $200 investment into $220 in one year?

A: we know the formula: simple interest (SI)=P×r×t100 where P is the principle(investment) amount, r is…

Q: A friend lends you $860, which you agree to repay with 2% simple interest. How much will you have to…

A: Other

Q: The pawnbroker charged Elisa a simple interest rate of % (Round to the nearest whole number as…

A: We have to find the simple interest  rate.

Q: You have $2,000 on a credit card that charges a 23% interest rate. If you want to pay off the credit…

A: Given: Credit card amount due (PV) = $2000 Annual interest rate (r) = 23% Number of months (t) = 5…

Q: 7

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Q: if $3500 earned simple interest of $153.13 in 7 months, what was the simple interest rate

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Q: Wanda took out a payday loan with an effective interest rate of 19,300%. If she had $460 to invest…

A: Use the formula Interest=Principal×Rate×Time100 to calculate the interest.

Q: if $120 double in approximately 11 years, what is the interest rate

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Q: If I have $500 in my account after 4 years of investing at 2.5% per year, how much money did I start…

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Q: If you made $3,000 a year in contributions to your retirement account starting at the age of 25,…

A: NOTE: Refresh your page if you can't see any equations.   . here we have PMT=3000 n=1 for yearly…

Q: Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of…

A: From the given information, the principal investment is P=$4000, interest rate r=0.045, and n=1 and…

Q: An account that yields 6% simple interest annually has $2,000. How much will be in the account after…

A:

Q: On April 2014, you could buy a 3030-year U.S. Treasury note for $20,000 that pays 4.174.17% simple…

A: Given information P=$20,000r=4.17%t=30 years Formula used:-  Simple interest=P×r×t100

Q: Jackie has a saving account that promises to increase her balance by 1.5% per year. If she deposits…

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Q: What interest will be charged on a $1200 loan for 9 months if the rate is 12% simple interest?

A:

Q: If the simple interest on $1,000 for 10 years is $600, then what is the interest rate? The rate is…

A:

Q: With 1500.00 I opened a savings account in a bank that offered me a monthly interest rate of 0.5%.…

A: Given: P = $1500.00, r = 0.5% p.m., n = 12

Q: You have $3,000 on a credit card that charges a 13% interest rate. If you want to pay off the credit…

A: Given data Loan amount = $3000 Interest rate(r) = 13% = 0.13 Period = 5 years => t = 5 × 12 = 60…

Q: if you decide to invest $2500 at 5% annual interest rate every year, how much would you have in your…

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Q: "On his tax return this year, Steve reports $575 income from interest. Assuming an interest rate of…

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Q: If $5000 is loaned for 5 months at a 5% annual rate, how much interest is earned?

A: Given: principal amountp=$5000, rate of interestr=5% per year and timet=5 months we know that simple…

Q: On May 28, 2020, Amy purchased a Government of Canada T-bill that matures on August 4, 2020. How…

A: Future value is $10,000 Rate of interest 1.35%

Q: The simple interest on a $7,600 loan at 7% per year amounted to $4,788. When did the loan mature?

A: To Determine: The simple interset on a $7600 loan at 7% per year amounted to $4788. When did the…

Q: You have $2,000 on a credit card that charges a 22% interest rate. If you want to pay off the credit…

A: Given:

Q: You have $5.000 on a credit card that charges a 19% interest rate. If you want to pay off the credit…

A: Here we will calculate monthly payment to pay off the credit card in 5 years,