The total interest earned for both loans was $1,510.00. H

Q: Corey would like to purchase a new car for $28,000.  How much will his monthly payments be if he…

A: Given that: Principal amount of loan, P=$28000TIme period of loan = 5 yearsRate of interest, r=5.75%

Q: Find the interest paid on a loan of ​$2300 for   two years at a simple interest rate of 10​% per…

A: Formula used: Simple interest formula: The formula for calculating the simple interest is I = Prt.…

Q: The total of the monthly payments for a 5-year loan is $10,692. The APR is 7%. How much money was…

A: Total payment is At=$10,692. The rate of interest is r=7%. Number of years is n=5. The formula for…

Q: A farmer purchased 275 acres of land for $4,500/acre. He paid 25% down and obtained a loan for the…

A: Find the annual payment from the given conditions

Q: The ordinary simple interest charged after 130 days on a loan of P 10,200 is P575. Find the interest…

A: Given: P=10,200I=575R=?T=130  days

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A: NOTE: Refresh your page if you can't see any equations. . the down payment is 30% of the price so…

Q: Find the refund fraction on a 48​-month loan with interest of ​$2,803 if the loan is paid in full…

A: Refund fraction is the percentage of refund you will get when you complete the loan before the…

Q: Ben and Jane have been approved for a $320,000 loan, 30-year mortgage with an APR of 4.75%. What…

A:

Q: What was Yvette's monthly payment?

A: Balance after 36th payment = 6521.43 Balance after 37th payment = 6151.8 For monthly payments…

Q: The monthly invested payment is $. (Round up to the nearest cent.)

A: We have to find the monthly payment value of given sinking fund.

Q: Consider a 30-year fixed-rate home loan of $555,500 with an interest rate of 5.75%. What is the…

A:

Q: Austin received a job offer at a large mining company which will pay her a gross salary of $68,800…

A:

Q: Find the total interest paid of the loan if the amount borrowed is OMR 25,000 at 5% interest for 8…

A: I am using Simple Interest formula for this. S.I.=(25,000*5*8)/100 S.I.=OMR 10,000

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Calculate the amount of money that was loaned at 5.00% per annum for 2 years if the simple interest…

A:

Q: Gina buys her first house for $250,000 at 5% APR with a 30-year mortgage.a. Find her monthly…

A: a) It is given that, Gina buys house for $250000 at 5% APR with a 30-year mortgage. Here Principal…

Q: To pay for his debt at 10% compounded semi-annually, рay Marcus committed for 10 quarterly payments…

A: To determine the amount of money Marcus borrowed.

Q: Find the amount of simple interest earned for depositing the given principle in an account. P=…

A:

Q: ind the interest on the following loan $1050 at 5.5% for 3 months

A:

Q: Find the monthly payment (before the balloon payment) for a 25-year, interest-only balloon mortgage…

A: Given that:  P = amount of loan = $300,000  r = APR = 7% =0.07  n = length of the loan = 25 yr

Q: Adam leases a car with an upfront payment of $1,629 and monthly payments of $197. Assuming there are…

A:

Q: A loan of $2000 was made at 5.5% for four months.

A: Introduction: The FV formula assumes a gradual rate of growth and one direct payment that continues…

Q: Imelda took a loan of Php950,000 from a financial institution to purchase a TV set. If the the…

A: Formula of compound interest: A=P1+rnnt where, A= Final amount P= Initial amount r= rate of interest…

Q: Jonathan wishes to buy a used Chevy Malibu for $12,500. He only has $1,000 for a down payment so the…

A: Simple interest is given by I=PTR/100

Q: find the total amount due and the amount of simple interest earned. round to the nearest cent…

A:

Q: Margo borrows $1700, agreeing to pa annual interest after 14 months. Hov she pay?

A: Explanation and solutions is given below....

Q: Ransford and Alda Mariano own a home recently appraised for $422,500. The balance on their existing…

A:

Q: Sofia obtained a house of 25-year mortgage for Php2,150,000. If his monthly payment is Php 15,500,…

A: Given that: Sofia obtained a house of 25-year mortgage for Php2,150,000. His monthly payment is Php…

Q: Ransford and Alda Mariano own a home recently appraised for $422,500. The balance on their existing…

A: Given that Ransford and Alda Mariano own a home recently appraised for $422,500. The balance on…

Q: Tom and Linda have been approved for an $185,000, 15-year mortgage with an APR of 5.35%. What will…

A: Since the given term is APR then we have to compute simple interest. The formula for simple interest…

Q: Colleen has an offer to buy a car with a sticker price of $25,900 by paying $460 a month for 72…

A:

Q: Find the monthly payment for the loan. Finance $500,000 for an apartment complex with a 12.3% 10…

A: Please rate and feel free to ask any query about any part of the question.

Q: Mr. Cruz obtained a 16-year mortgagee for 3,592,974. If this monthly payment is 17,520 how much is…

A:

Q: Find the monthly payment for the loan. Used car financing of $100,000 for 20 months at 8.75%.

A: The formula for monthly payment is A=P·i1-(1+i)-n where A= monthly payment amount  P=loan amount…

Q: Consider a 30-year fixed-rate home loan of $525,500 with an interest rate of 3.75%. What is the…

A: We have to find the interest of given amount. The solution is following.

Q: Maria paid ₱9,300 on a loan made 6 months before at 14% simple interest. Find the interest…

A:

Q: a $2,900 reclining chair on What was the deposit?

A: Layaway is a system of paying a deposit to secure an article for later purchase.

Q: Adam leases a car with an upfront payment of $1,873 and monthly payments of $182. Assuming there are…

A: We have to solve above question and find what will be the total cost of a two-year lease

Q: Mr. Smith borrowed $26,000 to purchase stock for his baseball card shop. He repaid the simple…

A:

Q: Your total payment on a 7 year loan, which charged 6% annual simple interesr , amounted to $60,860.…

A: Given information -  Time period of the loan = 7 year. Rate of simple interest = 6% Total amount…

Q: Find the interest and the amount to pay back on the following simple interest loans $875 at 8.7% for…

A: We have given principal amount  , rate of interest and time period and we have to find out interest…

Q: Patty took out a payday loan for $700 due in 2 weeks that charged a $140 fee. What is the periodic…

A: We can find the annual  rate of interest as follows

Q: Maddy Brown needed​ start-up money for her landscape service. She borrowed $11,000 for 42 months and…

A:

Q: Find the annual simple interest rate of a loan, where $600 is borrowed and where $666 is repaid at…

A: Given data: Principle  = $600 Amount = $666 Time period = 15 months To find: Annual simple interest…

Q: If I purchased an appliance for $2500 , paid $800 as a down payment and financed the remainder over…

A: Given that loan is of 'add-on interest' typeAdd on interest = Principal *Rate of interest…

Q: Find the amount due on a loan of $6500 at 8% simple interest at the end of 4 vear

A: Given P=$6500Rate= 8%Time = 4 yearsWe know that I=PTR100

Q: Find the amount of monthly payment necessary for the deposit to a sinking fund. A equals $50,000, N…

A: equals $50,000, N = Semiannually, r=14%, t=10

Q: Find the monthly payment for the loan. Finance $450000 for an apartment complex with a 8.5% 30 year…

A: Given   Amount =$45000      years=30    interest=8.5%  since we have the monthly payment for…

Q: Sammy wants to buy a new stereo priced at $403. He enters into an agreement to pay $21 a month for…

A: Sammy wants to buy a new stereo priced at $403. He enters into an agreement to pay $21 a month for…