Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600

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5 You have a credit card with a balance of $11,500 and an APR of 17.3 percent compounded monthly. You have been making monthly payments of $225 per month, but you have received a substantial raise and will increase your monthly payments to $275 per month. How many months quicker will you be able to pay off the account? Multiple Choice 28.75 months 25.88 months 24.64 months 9.29 months 26.83 months

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Finance Question

Given:account balance:$5,000;account APR=17%   please help with 5-8 5. what is the dollar amount paid in interest if the balance is pid off in 24 months,ceteris paribus? 6. how much more will you pay in interest if you make a fixed payment of 4% of the original balnce than if you make the payment required to pay the balance off in 24 months? 7. if the minimum payment is 4% of the oustanding blanace, how many months will it take to pay off the wntire balance if only the minimum oayment is made each month, ceteris paribus? 8. what is the dollar amount paid in interest if the minimum payment ka made each month to pay off the entore balance,ceteris pribus?