You have $2,500 on a credit card that charges a 14% interest rate. If you want to pay off the credit card in 4 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?

Q: An account with an initial balance of 1500 earns 7% interest for 1.5 years. What is the ending…

A: Given:   Initial Amount P = 1500   Interest rate r = 7%   Time = 1.5 years   Find ending balance A…

Q: Joe Borowski invested $10,500 in a mutual fund one year ago. During the year, his fund increased in…

A: Given data: The amount invested by Joe in a mutual fund is P=$10,500. The interest gained by Joe is…

Q: ou have $5,000 on a credit card that charges 16% interest rate. If you want to pay off the credit…

A: To calculate the amount need to pay each month to repay the amount.

Q: You have $3,500 on a credit card that charges a 15% interest rate. If you want to pay off the credit…

A: Given Information:Present value in the credit card is .Rate of interest is .Number of years is 5…

Q: You know you will have $1,000,000 in your account when you retire. You want to be able to take…

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Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

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Q: The future dollars of an investment at the end of 8 years is $ 132,000. Its today’s dollars is $…

A: INTEREST PAID BY BANK AT THE END OF 8YEAR=$132000-$76825=$55175 REAL RSTE OF INTEREST OF…

Q: Suppose you’d like to save enough money to pay cash for your next used car. The goal is to save an…

A: Given that, to save an extra $8000 over the next three years.To find the amount of monthly payments…

Q: You have $3,500 on a credit card that charges a 13% interest rate. If you want to pay off the credit…

A: Credit amount Rate of interest Time period  year

Q: Carlos takes out a loan for $10,300, at 8% ordinary interest. If the amount of interest is $329.60,…

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Q: You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

A: It is given that,      r= annual interest rate=8%=0.08      k=monthly compounding=12      N=number…

Q: How much should Winona deposit in his savings account so that he will be able to withdraw ₱580,450…

A: We will find out the required value.

Q: borrows $6,500, at  6 1 2%  interest, for 150 days. If the bank uses the ordinary interest method,…

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Q: Penny makes deposits into two separate accounts for 2 years. Option A: $800; 6% annual simple…

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Q: If you purchase a $600 item and pay for it with monthly installments for 2 years, the monthly…

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Q: A loan of 750000 needs to be paid in annual installments by the end of every year. The interest rate…

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Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 9% interest. How…

A: Given, Future value (FV) = $800,000 Rate of interest (r) = 9% Time (t) = 30 years n = 12 ( months)…

Q: You have 300,000 saved for retirement. Your account earns 4% interest. How much will you be able to…

A: Given that, You have 300,000 saved for retirement. Your account earns 4% interest. We need to find…

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

A: In the given question we have to calculate the simple interest on $1200 loan for 9 months at the…

Q: You owe $2300 on a credit card with 21% APR if you want to pay it off in 18 months, how much would…

A: Loan amortization formula is  A=Pi1+in1+in-1 Where A is periodic payment amount, P is loan amount,…

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: You just received a new Visa credit card with a $5,000 limit and a 19% interest rate. You then…

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Q: Suzy put some money into an accout paying 5.5% interest compuunded continuously for 12 years. She…

A: Given,   Interest rate = 5.5 %   Total amount she has after 12 years = A = $18,900   And it is…

Q: You have $2,000 on a credit card that charges a 21% interest rate. If you want to pay off the credit…

A: The objective of this question is to calculate the monthly payment required to pay off a credit card…