154 Answered Questions for the topic Interest

#### A tractor is purchased for $80 000 and depreciates by $5000 each year.

a) Use the straight-line depreciation method to find the value of the tractor after 5 years.b) When will the tractor be worth half its purchase price?

11/25/21

#### FINDING THE MISSING VALUE OF SIMPLE INTEREST

1 . GIVEN:Principal = 25,000 dollarsRate = ?Time = 4 years and 5 monthsInterest = ?Maturity Value = 19,000 dollars2 . GIVENPrincipal = 50,000 dollarsRate = 0.005%Time = ?Interest = 2750Maturity...
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#### Sam borrows $28 000 to buy a new car at a flat interest rate of 9% per annum over 3 years.

How much will sam need to budget per week to cover the cost of the loan repayments?

#### Audrey earned $1125 from an investment of $6000 over 5 years.

What was the annual simple interest rate applied to this investment?

#### Calculate the simple interest earned on an investment of

Of $25 000 at 8.5% per annum for 2 years

#### The local hardware store has a discount sale. Articles are offered for sale at 25% off the recommended retail price.

Employees can also claim a further 10% price reduction on the sale price of all goods. During this sale an employee buys an article with a recommended retail price of $200.-what price will the...
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12/14/20

#### Pre calculus compounding interest questions

You have received a large inheritance your goal is to double it. How long will it have to remain on each of the following investments to reach your goala) compounded monthly at an APR of 18.55%b)...
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10/21/20

#### A total of 8000 was invested into accounts at 5 percent and 3 point 5 percent. How much was invested into each account if the total interest for the year was $327.50.

A total of 8000 was invested into accounts at 5 percent and 3 point 5 percent. How muchwas invested into each account if the total interest for the year was $327.50.

#### You want to buy a $168,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan at 7% annual interest compounded monthly for the rest.

a) How much is the loan amount going to be?b) What will your monthly payments be?c) How much total interest do you pay?d) Suppose you want to pay off the loan in 15 years rather than 30. What will...
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Interest Algebra 2

04/07/20

#### How long do they need to wait before being able to pay for the trip?

Kenji and Carmen Deposit $800 into a savings account which earns 1% interest compounded continuously. They want to use the money in the account to go on a trip that costs $1300. How long will they...
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03/31/20

#### Theodore invests a total of $10,500 in two accounts. The first account earned a rate of return of 13% (after a year). However, the second account suffered a 9% loss in the same time period.

Theodore invests a total of $10,500 in two accounts. The first account earned a rate of return of 13% (after a year). However, the second account suffered a 9% loss in the same time period. At the...
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12/02/19

#### Need help with this problem

Samantha invests a total of $28,500 in two accounts. The first account earned a rate of return of 11% (after one year). However, the second account suffered a 10% LOSS in the same time period. At...
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11/23/19

#### I had a 10 question practice worksheet before a test, and I am completely stumped on these last two questions. Please help?

1) Jennifer wants to invest some money now to buy a new tractor in the future. If she wants to have 350,000 available in 4 years, how much does she need to invest now in a CD paying 4.25%...
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10/13/19

#### If you invest $1,000,000 at 6% compounded continuously, how much interest is earned in 1 hour?

08/01/19

#### Compound Interest

Michael wishes to give his son a savings bond that will mature in 8 years. He would like the value of the savings bond to be $5,000 at maturity. If he can invest in a bond that has an annual...
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07/13/19

#### How to determine interest and payment sizes?

Jennifer borrowed $3000 from the bank in order to buy a new jacuzzi. She will pay it off by equal payments at the end of each week for 4 years. The annual interest rate is 8.05%. Determine the...
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#### Interest and Annuity

A man starts working a day after he celebrates his 23rd birthday. He wants to have a fund that could, from the date of his retirement at age 58, give him a benefit payment of $6000 at the end of...
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05/17/19

#### Determine the periodic deposit and how much of the financial goal comes from deposits and how much comes from interests

periodic deposit: $? At the end of every 3 months4.5% compound quarterly Time: 6 yearsFinancial goal: $15,000

04/30/19

#### Miley borrowed a certain amount of money at an annual simple interest rate of 3.7%. If she returned $5013 after 238 weeks, how much interest did she pay?

Please include work if possible

04/04/19

#### Interest rate problem

What interest rate compound monthly will yield an effective interest rate of 8%?

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