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

Q: Miguel purchased a hot tub costing $5,010 by taking out an installment loan. He made a down payment…

A: Cost of hot tub=$5,010 Down payment=$1,300 hence the loan amount=$(5030-1300)=$3730 Payment each…

Q: Hannah has $33,292 in a savings account with simple interest. If she deposited $28,700 two years…

A: NOTE: Refresh your page if you can't see any equations. . here we have  A=33292 P=28700 t=2 years

Q: The cost to repair a car after a collision was $3,800. The automobile insurance policy paid the…

A:

Q: A trader gives a 5% discount for cash payments. What cash discount will he give on a bill of…

A: The expression: "p% of q" is same as p100×q.

Q: Twenty years after purchasing shares in a mutual fund for $5900, the shares are sold for 11,300. The…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Mark borrowed $18,742 to help pay for expenses. If the loan carries an annual interest rate of 3.9%…

A: From the given information we find the monthly payment.

Q: Margo borrows $2000, agreeing to pay it back with 2% annual interest after 8 months. How much…

A:

Q: Your roommate asks to borrow $500 and agrees to pay it in 45 days with interest rate of 4%. How much…

A: Given  : P = Principal value = $500 r = Interest rate = 4% =0.04 t = time in years = 45365

Q: Nina and Michael have been approved for a $300,000 30-year mortgage with an APR of 5.25%. How much…

A: Thanks for the question :)And your upvote will be really appreciable ;)

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: What was Yvette's monthly payment?

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

Q: Scott took out a 72 month loan for $35.000 to purchase a new boat. If Scott paid $8,925 in simple…

A:

Q: Nanette buys a $5000 20-year bond that has a coupon rate of 2.5%.If she keeps the bond to…

A: We have to find

Q: Moira borrowed $3,500 from her grandfather to pay for her first year of college.  Four years later,…

A:

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: Find the monthly payment for the loan. Used car financing for $600,000 for 25 months at 11.75%.…

A: here we have to find the monthly payment for the loan. PV (present value of car) = $600,000 n(number…

Q: The Habers purchase a $6500 living room set and take out a two-year loan for the entire amount at…

A: given  principal P=$6500 interest rate i=26% i=2612 =2.1666% =0.021667 time t=2 years number of…

Q: If you would like to make $1079 in 5 years, how much would you have to deposit in an account that…

A: Given that $1079 has to be made in 5 years and the simple interest rate is 7%. It is required to…

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: MIKE DEPOSITED ON MARCH 12, 2020 AT 10.5% SIMPLE INTEREST. ON SEPTEMBER 8, THE FUND ACCUMULATED TO…

A: Given- Mike deposited on March 12, 2020 at 10.5% simple interest. On September 8, the fund…

Q: Lindsay borrowed a certain amount of money for 4 years at an annual simple interest rate of 5.2%. If…

A: Given:   Lindsay borrowed a certain amount of money for 4 years at an annual simple interest rate of…

Q: Carolyn borrowed $38,500 to pay for college. If the interest rate is 3.2%, how much total will she…

A: A = P(1+r/100)n P = Principle A = amount r = interest rate n = number of years

Q: your total payment on a 2 year loan, which charged 9% annual interest, amounted to $40,260. how much…

A: Given data is: Future value is FV=$40,260 Annual interest r=9% Time t=2 year To find how much did…

Q: THe washingtons buy a studio apartment for $240,000.00, what percentage down payment is 12,000.00?…

A: topic - percentage

Q: Margo borrows $1900, agreeing to pay it back with 5% annual interest after 11 months. How much…

A: Given data, Borrowed amount (P) = $1900 Annual Interest (R) = 5% = 0.05 Time (T) = 16 months = 11/12…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $9070, r = 5.50%, t = 4 months…

A:

Q: The interest rate on an $859.50 debt was 104%. For how many months was the loan outstanding if it…

A: Given: The interest rate on an $859.50 debt was 1014%. Find for how many months was the loan…

Q: present value of the loan

A:

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: rett put a $410 item on layaway by making a down payment of 16% of the purchase price. How much does…

A: A down payment is an initial payment made by a buyer for the purchase of an item or service on…

Q: Nicolas Cage borrowed $3,456 from his nephew to fund his new movie. Eight months later, he paid back…

A:

Q: Jenn borrowed $900 from her sister at a simple interest rate of 1.5%. If Jenn will pay back her loan…

A:

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

A: Loan amount = 264,000 x (70%) = 184,800 Let's assume the monthly payments (EMIs) are made to pay…

Q: Find the simple interest rate of the principal of Php. 15,000 with simple interest of Php. 30,000…

A: Given Principal (P)= Php15000 Simple interest (SI)= Php30000 Time (T) = 5 years

Q: Calculate the simple interest earned. Round to the nearest cent. P = $9070, r = 4.25%, t = 6 months

A:

Q: Yu-Feng Liang bought a used car for $8000. He made a down payment of $1000 and paid off the balance…

A: Value of Down Payment = $1000 Monthly payment of $202 for 48 months Total Payment made by Yu-Feng…

Q: The new balance of a charge account is $145.00. The minimum payment is $30.00. If the interest rate…

A: Step:-1 Given new balance is $145.00 Minimum payment is $30.00 Left balance to be paid =…

Q: Zayn buys a new phone for $600 and pays for it over two years with 6.% simple annual interest. What…

A:

Q: a man buys a car for 34,000 if the interest rate on the loan is 12% compund monthly and if he wants…

A: Given that  a man buys a car for 34,000 if the interest rate on the loan is 12% compund monthly and…

Q: The simple interest on a $710 three-year loan amounted to $276.  What was the annual interest rate…

A:

Q: Connor bought a house for $215,000.00, paying 10% down, financing the rest at 7% interest for 25…

A: The objective is to find monthly payment and interest over the life of loan.

Q: Jake borrows $2,500 at an interest rate of 15% a year. If he repays the loan in 2 years, how much…

A: Assuming the simple interest, Interest = PRT/100 Where P= principal R = rate T = time

Q: Dobby borrowed $5,000 to start a foundation for recently freed house elves. If he pays the money…

A:

Q: Daniel paid $825 simple interest on a $1,400 loan for 5 years. What was the interest rate?

A: Here we have to find the interest rate i.e 'r'.

Q: A loan company charges $50 interest for a one month loan of $1000. Find the annual interest rate…

A:

Q: You borrow $710 from your brother and agree to pay back $770 in 3 months. What simple interest rate…

A:

Q: The finance charge that a student pays on his credit card is 18.4% APR (annual percentage rate).…

A: As per given by the question, there are average balance for the year is $5000 with 18.4%ARP. Now,…

Q: Bailey received a loan of $13,690 from her friend. If she was charged the interest amount of $965 at…

A:

Q: If you borrow 1800 dollars from a lending agent for 65 weeks and in the end you have to pay 270…

A:

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

A:

Q: An auto dealer advertised a down payment of $1,400 on a Mustang valued at $18,200. What is the…

A:

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

A:

Q: A payday loan is made for five weeks, where the amount of interest owed per $⁢100 borrowed is $⁢20.…

A:

Q: Dave purchased a $22,000 life insurance policy at the price of $26 per $1000 of coverage. If he pays…

A: Dave purchased a $22,000 life insurance policy at the price of $26 per $1000 of coverage. If he pays…

Q: How much will you pay on interest if you buy a $217k home on 3.5% interest with monthly payments on…

A:

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: Jacqueline took out a $30,000 student loan with a fixed interest rate to pay for college. Jacqueline…

A: The amount of loan she took P1 =  $30,000  The current loan amount balance P2 = $56,000   Percentage…

Q: Park bought a house 15 years ago, taking out a $140,000 mortgage at 6% interest for 30 years, making…

A:

Q: Adrianna has a term loan that she still owes $6,799.14. The annual interest rate on this loan is…

A: Topic - loan and interest payments

Q: Jill has a loan of $1600 . If she is charged 2% simple interest per month, how much interest is she…

A: The formula to calculate the amount on simple interest is given below: A=P(1+rt) where, A is the…

Statements and Logic

Logic is the analysis of general patterns of thoughts without regard to any specific sense of context.