Mathematics

Mathematics, 23.06.2019 00:00, lunamoon1

Jose borrowed $20,000 to buy a new speed boat. the interest rate on his loan is 5%. he will pay it back in 3 years. what will be the total amount he'll pay for the boat, including interest?

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Mathematics, 03.08.2019 23:00, MaxHunter8377

Jose borrowed $20,000 to buy a new speed boat. the interest rate on his loan is 5%. he will pay it back in 3 years. how much interest will he pay? what will be the total amount he’ll pay for the boat, including interest?

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Mathematics, 21.08.2019 18:00, james8781

12 points! math needed i did the first part, i hope i did it right. a) the shoe store manager borrowed $17,000.00 from the bank to purchase 1000 pairs of shoes. the bank charges a simple interest rate of 5% per year on a loan to a business. if it takes 3 years to pay back the loan and interest, what is the total amount of interest that the shoe store will pay? i = p*r*t or i=prt so 17000*0.05*3= the interest meaning that the interest is: $2550.00 so: the total amount that the shoe store will pay back to the bank is $2550. question # 2 b) what is the total amount, including interest, which the shoe store must pay on the loan? question # 3 c) how could you use estimation to determine if your answer is reasonable? explain.

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Business, 09.10.2019 20:00, scholar345

After visiting several automobile dealerships, richard selects the car he wants. he likes its $11,500 price, but financing through the dealer is no bargain. he has $2,300 cash for a down payment, so he needs a loan of $9,200. in shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. that is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. richard borrowed $9,200 for a period of two years at an add-on interest rate of 10 percent. a. what is the total interest on richard’s loan

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Mathematics, 01.11.2019 01:31, miguelturner

Lenders such as banks, credit unions, and mortgage companies make loans. the person receiving the loan usually pays the loan off in small payments over a long period of time. the lender earns money by charging interest, which is based on a percentage of the amount that is borrowed. there are different types of interest. car loans are usually calculated using the formula for simple interest. the total amount repaid is based on the interest and the value of the original loan, called the principal. the formula for the total dollars needed to repay the loan, with interest, is found using the formula a=p+pxrxt a is the amount (total principal plus interest) required to repay the loan, p is the amount borrowed, the principal, r is the annual interest rate, quoted as a percent, but used as a decimal in the formula. t is the time, in years, taken to repay the loan (six months would be 1/2 year). suppose you get a loan of $5,000 at an annual interest rate of 4.25%. a. use the given information to write the formula for the total amount to be repaid in (t) years. express the interest rate as a decimal. b. complete the table of values that shows the payoff amount after certain amounts of time. t (years) a ($) 0: 4 mo: 1/3 6 mo: 1 yr: 3 yr: 6 yr: estimate the maximum time allowed to repay the loan if you want the total payoff to be less than $7,000. , i've been stuck on this question forever.

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