You want to buy a new car. You can afford payments of $500 per month and can borrow the money at an interest rate of 5.7% compounded monthly for 5 years.  How much are you able to borrow? How much interest do you pay?

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: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: You decide to quit using your credit card and want to pay off the balance of $2,400 in 3 years. Your…

A:

Q: You have $500,000 saved for retirement. Your account earns 5% interest. How much will you be able to…

A:

Q: 4. Rayanna's father plans to give her monthly payments for the next 4 years as she attends…

A: To find the monthly payment of Rayanna.

Q: You borrow $4500 at 5% interested compounded quarterly. How much will you owe after 7 years?

A:

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: You know you will have $25,000,000 in your account when you retire. You want to be able to take…

A:

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: After retiring, Delaney wants to be able to withdraw $4,000.00 every month from her account for 25…

A: We will find out the required value .

Q: You take out a loan to purchase a car for $7600. The bank offers you 3.8%, compounded monthly for 4…

A: Interest = $ 26525.22

Q: How much will you pay for the interest if you will borrow an amount P24.000 at 4% simple interest…

A:

Q: You purchase a new car for $19,500.             If you borrow $19,500 for 5 years with an interest…

A:

Q: You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay…

A: The monthly payment is calculated using the formula: Monthly Payment=Loan amount×i1-(1+i)-n. Here, i…

Q: You make a payment of $300 at the beginning of each month into an account that 3.6%annual interest.…

A:

Q: You wish to purchase a new house 20 years from today. You currently have $25,000 debt you need to…

A: The annual payment on a loan is given by the formula AP=Pr1-1+r-n. Given data:…

Q: you deposit $300 each month into an account earning 2% interest compounded monthly. How much will…

A:

Q: Sam begins saving for a down payment on a house using an investment account. The account earns…

A: Let's find.