# Jim Tree borrowed $1,000 at 10 percent for one year. He paid a $45 processing fee and $100 in interest. He calculated the APR to the nearest tenth

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**Math**

Jim Tree borrowed $1,000 at 10 percent for one year. He paid a $45 processing fee and $100 in interest. He calculated the APR to the nearest tenth.

**math**

Karla borrowed $750 at 12 percent for one year. She paid a $20 processing fee. The interest paid will be $95.00, $92.50, or $90.00 Thus, the total finance charge (the interest plus the processing fee) will be? $115.00, $112.50, or $110.00 ? Therefore, to the nearest tenth, the...

**math**

Karla borrowed $750 at 12 percent for one year. She paid a $20 processing fee. The interest paid will be $95.00, $92.50, or $90.00 Thus, the total finance charge (the interest plus the processing fee) will be? $115.00, $112.50, or $110.00 ? Therefore, to the nearest tenth, the...

**math**

Carla Compra borrowed $800 at 14% for one year. She paid a $15 processing fee. The interest paid will be $. Thus, the total finance charge (the interest plus the processing fee) will be $ Therefore, to the nearest tenth, the APR = total finance charge ÷ amount borrowed = %.

**APR Problem**

Joshua borrowed $1,900 for one year and paid $95 in interest. The bank charged him a service charge of $22. If Joshua paid the $1,900 in 12 equal monthly payments, what is the APR? (Enter your answer as a percent rounded to 1 decimal place.) So, I got 117/1900= 6.2%, but it ...

**APR Problem**

After visiting several automobile dealerships, Richard selects the car he wants. He likes its $11,000 price, but financing through the dealer is no bargain. He has $2,200 cash for a down payment, so he needs an $8,800 loan. In shopping at several banks for an installment loan...

**algebra**

Mary bought a red convertible for $14,000. She paid $1,000 down and borrowed the rest on a one year note at 15% interest. How much will she owe at the end of one year

**Finance**

Joshua borrowed $2,300 for one year and paid $138 in interest. The bank charged him an $15 service charge. If Joshua paid the $2,300 in 12 equal monthly payments, what is the APR? (Round your answer to 1 decimal place

**math**

A newlywed couple bought a washer and dryer for $800. They paid 5% down and then paid 12 monthly payments of $65.41. Determine the APR of the loan to the nearest tenth of a percent.

**Math**

Suppose you borrowed $25,000 for a car at an APR of 8%, which you are paying off with monthly payments of $510 for 5 years. a) What’s the loan principal? b) What’s the annual interest rate? c) How many payments do you make in a year? d) What’s the loan term? e) What’s ...

**Math**

A park district paid their director $19,500 in 1960. In 2000 that same park district paid their director $40,000. Determine the average rate of increase per year to the nearest tenth of a percent This is my answer 40,000-19,500=20,500/100=205% is this correct?

**fin**

1. A financial institution has the following market value balance sheet structure: (LG 19-1) Assets Liabilities and Equity . Cash $ 1,000 Certificate of deposit $ 10,000 Bond 10,000 Equity 1,000 Total assets $11,000 Total liabilities and equity $ 11,000. a. The bond has a 10 ...

**Accounting**

During the year, Shor Company issued several series of bonds. For each bond, record the journal entry that must be made upon the issuance date. (Round to the nearest dollar; a calculator is needed for 2 and 3.) On January 20, a series of 15-year, $1,000 par value bonds with ...

**MATH**

Find the interest earned by an account with $1,200 of simple interest of 4% for 3 years. Find the percent markup. Round to the nearest whole percent. store's cost: $100 selling price: $160 Find the percent of increase. 50 to 70 Find the percent of decrease. Round your answer ...

**algebra**

an individual has two low interest loans, one at 4% interest and the other at 6% interest. The amount borrowed at 6% is $250 more than the amount borrowed at 4% If the total interest for one year is $165, how much money is borrowed at each rate

**math**

Sam Seller offers credit at 19% interest per year. To the nearest tenth, APR = ?

**College Accounting**

P2-1A Frontier Park was started on April 1 by C. J. Mendez and associates. The following selected events and transactions occurred during April. Apr. 1 Stockholders invested $40,000 cash in the business in exchange for common stock. 4 Purchased land costing $30,000 for cash. 8...

**College Accounting**

P2-1A Frontier Park was started on April 1 by C. J. Mendez and associates. The following selected events and transactions occurred during April. Apr. 1 Stockholders invested $40,000 cash in the business in exchange for common stock. 4 Purchased land costing $30,000 for cash. 8...

**Economics**

You have opened your own word-processing service. You bought a personal computer, and paid $5,000 for it. However, due to the cost changes in the computer industry, the current price of an equivalent machine is $2,500. You could sell any used machine for $1,000. If you were ...

**ECO 550**

1) You have opened your own word-processing service. You bought a personal computer, and paid $5,000 for it. However, due to the cost changes in the computer industry, the current price of an equivalent machine is $2,500. You could sell any used machine for $1,000. If you were...

**Business Analysis**

Barney Casey borrowed $40,000 from his parents for 2 years. He paid them a total of $45,000 at the end of the 2-year term of the simple interest loan. What rate of interest did he pay his parents?

**bond valuation**

Bond valuation The Garraty Company has two bond issues outstanding. Both bonds pay $100 annual interest plus $1,000 at maturity. Bondf L has a maturity of 15 years, and Bond S a maturity of 1 year. a. What will the value of each of these bonds when the going rate of interest ...

**bond valuation**

Bond valuation The Garraty Company has two bond issues outstanding. Both bonds pay $100 annual interest plus $1,000 at maturity. Bondf L has a maturity of 15 years, and Bond S a maturity of 1 year. a. What will the value of each of these bonds when the going rate of interest ...

**Finance**

Rancher Rick purchased an additional 80 acres of hay ground to produce hay for his Angus herd. He paid $700/acre. He paid $20,000 down and took out a 10 year loan with interest calculated using add-on interest for the rest of the cost of the land. Assume annual payments and 5...

**math**

A loan company charges $20 interest for a two-month loan of $325. Find the annual interest rate (APR) they are charging. Round your answer to the nearest tenth of a percent.

**math**

Say i have a mortgage of 200,000. One bank offers 5.oo%. The other offers 5.23% How do i calculate the interest paid over say 5 yrs. thanks You haven't given us enough information to calculate the interest. You need to know how much you're paying each year on your mortgage. ...

**economic**

Robert withdrew $100,000 from an account that paid 10 percent annual interest and used the funds to purchase real estate. After one year he sold the property for?

**Accounting**

Journalize the following transactions for Tammy Company: Sept. 1 Sold $3,500 of merchandise to Jim on account Oct. 1 Exchanged Jim’s account receivable for a fourmonth, 8% note for $3,500 Dec. 31 Recorded accrued interest on Jim’s note Feb. 1 Jim paid off his note with ...

**Economics**

You have opened your own word processing service. You have already bought a special computer needed for word processing and paid $5,000 for it. However, due to the cost changes in the computer industry, the current price of an equivalent machine is $2,500. You could sell any ...

**finance**

a $200 cash advance by using checks linked to to her credit card account.The bank charges a 2 % cash advance fee on the amount borrowed and offers no grace period on cah advances.Sidney paid the balance in full when the bill arrived.What was the cash advance fee? What was the ...

**Math**

. Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vice-president for finance decided to invest $2,000,000 in a 2-month investment that pays 11.5% simple interest. How much interest will the college earn on the...

**math115**

Steve was charged $75.00 interest for 1 month on a $3,000 credit card balance. What was the monthly interest rate? Give you answer as a percentage, round to the nearest tenth of a percent. 2.5% 2.If $5,600 is deposited into an account paying 5.325% interest compounded annually...

**algebra2**

Bill invested $15,000 in three accounts. The savings account paid 1% interest, the Mutual fund paid 10% interest, and the CD paid 2% interest. In one year, Bill earned $210 in interest. If Bill put four times as much in savings as he put in the CD, how much money did Bill put ...

**algebra2**

Bill invested $15,000 in three accounts. The savings account paid 1% interest, the Mutual fund paid 10% interest, and the CD paid 2% interest. In one year, Bill earned $210 in interest. If Bill put four times as much in savings as he put in the CD, how much money did Bill put ...

**Math Economics**

1. Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vice-president for finance decided to invest $2,000,000 in a 2-month investment that pays 11.5% simple interest. How much interest will the college earn on ...

**Math**

I have worked and reworked this problem, but I cannot seem to figure it out. Can anyone help? Jeffries & Sons is borrowing $95,000 for four years at an APR of 7.05 percent. The principal is to be repaid in equal annual payments over the life of the loan with interest paid ...

**math**

How do you find simple interest of something? I have a problem like this: JJ borrowed 21,000 dollars for a car, the finance company gave him an interest rate of 11.4% for 5 years how much will he pay over a 5 year period?? The problem here is that this is not simple interest...

**Survey of mathematics**

A homeowner installed a new swimming pool for $8500. He paid 8% down and then paid 36 monthly payments of $243.07. Determine the APR of the loan to the nearest one-half of a percent.

**Please help! Urgent**

A homeowner installed a new swimming pool for $8500. He paid 8% down and then paid 36 monthly payments of $243.07. Determine the APR of the loan to the nearest one-half of a percent.

**Math**

With the stars (*) next 2 the #'s are my answers! ! ! 1) Find the percent of increase. ~ 50 to 70 20% 30% 40% ***** 50% 2) Find the percent of decrease. Round your answer to the nearest tenth of a percent where necessary. ~ 75 to 60 20% 30% 40% 50% ****** 3) Find the percent ...

**Math, are they all right?**

1. A student raises her grade average from a 75 to a 90. What was the percent of increase in the student’s grade average? Round your answer to the nearest tenth of a percent, if necessary. A: 20% B: 16.7% C: 8.3% D: 15% *** 2. Beanbag chairs that normally sell for $36.50 are...

**Finance**

A mortgage broker is offering a $225,000 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 2.5 percent APR interest rate. After the second year, the mortgage interest rate charged increases to 8.5 percent...

**Maths**

Solve the problem. Assume that simple interest is being calculated. Round your answer to the nearest cent. Susie borrowed $7500. from a bank for 18 months with interest of 5% per year. Find the total amount she repaid on the due date of the loan. (Use: I=prt)

**Finance**

11. Loan Payments You wish to buy a $30,000 car. The dealer offers you a 4-year loan with a 6 percent APR. What are the monthly payments? How would the payment differ if you paid interest only? What would the consequences of such a decision be?

**Urgent math**

A couple needs a mortgage of $300,000. Their mortgage broker presents them with two options: a 30-year mortgage at 8 1/2% interest or a 15-year mortgage at 7 3/4% interest. (Round your answers to the nearest cent.) (a) Find the monthly payment on the 30-year mortgage and on ...

**Math**

Lisa borrowed 8,000 on an 8% , 60 day note after 15 days she paid 2,000 on the note on day 45 she paid 1,000 on the note what is the total interest and ending balance due by the us rule of ordinary interest.

**Algebra**

Please Help. How long, to the nearest tenth of a year, will it take $12,500 to grow to $20,000 at 6.5% annual interest compounded quartely? (Use the formula for compound interest with n compoundings per year to solve for t.)

**Financial maths year 9**

Sophie borrowed $2000 at a simple interest rate of 15% for 3 years to repay the loan and has $900 in interest. If Sophie's interest was calculated at the same rate on the balance owing, how much would she have owed after 6 months if she repaid $40 per month? Give your answer ...

**Interest**

Jim opens a savings account with a deposit of $10,000. If the account has an annual interest rate of 6%, compounded quarterly, how much is in the account after one year? (Assume that he does not make any withdrawals. Round only your final answer to the nearest cent.)

**accounting**

Part 5 Cash Budgeting Landis Company has the following sales forecasts for the selected three-month period in the current year: Month Sales April $12,000 May 7,000 June 8,000 Seventy percent of sales are collected in the month of the sale, and the remaining balance is ...

**pre-algebra**

Shannon put $ 7,000 in a 5 year CD that paid 8% interest per year. Malcolm put $6,000 in a 5 year CD that paid 10% interest. What was the balance of each person's account at the end of the 5 years? Who made more money and how much more did they make? (Use I= PRT Where I= ...

**Consumer Math**

Marta borrowed $1,380 for 15 months at 13 percent APR. How much will she pay in interest?

**Finance**

annual net cost Monthly fee $4, check processing fee of 20 cents, average 23 checks written per month. annual interest of 1.5 percent paid if balance exceeds $750, $8 monthly fee if account falls below minimum balance, average monthly balance $815, account falls below $750 ...

**health care finance**

Your firm is considering the following three alternative bank loans for $1,000,000: a) 10 percent loan paid at year end with no compensating balance b) 9 percent loan paid at year end with a 20 percent compensating balance c) 6 percent loan that is discounted with a 20 percent...

**math apr**

A car with a sticker price of $42,650 with factory and dealer rebates of $5,100 (a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.) (b) Find the monthly payment if financed at 2.5% add-on interest for 60 months. (Round ...

**algebra**

The principal P is borrowed and the loan's future value, A, at time t is given. Determine the loan's simple interest rate, r, to the nearest tenth of a percent. P=$130, A=171.60, T=4 years

**Finance**

Your firm is considering the following three alternative bank loans for $1,000,000: a) 10 percent loan paid at year end with no compensating balance b) 9 percent loan paid at year end with a 20 percent compensating balance c) 6 percent loan that is discounted with a 20 percent...

**finance**

Your firm is considering the following three alternative bank loans for $1,000,000: a) 10 percent loan paid at year end with no compensating balance b) 9 percent loan paid at year end with a 20 percent compensating balance c) 6 percent loan that is discounted with a 20 percent...

**FINANCE**

Crimini Foods is offered a $400,000 line of credit for six months at an APR of 10%. This loan has a loan origination fee of 2%. What is the actual six-month interest rate paid, expressed as an EAR

**Finance**

Crimini Foods is offered a $400,000 line of credit for six months at an APR of 10%. This loan has a loan origination fee of 2%. What is the actual six-month interest rate paid, expressed as an EAR

**math**

Determine the annual net cost of these checking accounts: a. Monthly fee $ 4, check- processing fee of 20 cents, average of 23 checks written per month b. Annual interest of 2.5 percent paid if balance exceeds $ 750, $ 8 monthly fee if account falls below minimum balance, ...

**math**

If you paid 2,000 a month or 24,000 a year on 200,000 dollars at 5.00% what formula would you use to calculate the interest paid? Thanks The first year you'd pay $10,000 (.05 x $200,000) in interest. The remaining $14,000 of your payment would be applied to the principle. So...

**Simple Interest**

Last year, Ivan had $20,000 to invest. He invested some of it in an acount that paid 9% simple interest per year, and he invested the rest in an account that paid 7% simple interest per year. After one year, he received a total of $1780 in interest. How much did he invest into...

**Math**

So I have some math questions I'd like for some one to check :) 1. Rename 4/7 as a percent. Round to the nearest tenth of a percent if necessary. A. 47% B. 1.8% C. 57.1% D. 28% 2. Rename .709 as a percent. A. 709% B. 70.9% C. 79% D. 7.09% 3. Alice plays basketball. In one she ...

**Kennedy king finance**

10. Compute the present value of $3,000 paid in four years using the following discount rates: 3 percent in year 1, 4 percent in year 2, 5 percent in year 3, and 6 percent in year 4.

**Finance**

10. Compute the present value of $3,000 paid in four years using the following discount rates: 3 percent in year 1, 4 percent in year 2, 5 percent in year 3, and 6 percent in year 4.

**Math**

Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month equal to the interest owed. Can you figure...

**math**

Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $42,100 with factory and dealer rebates of $5,100 (a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.) $ 1 (b) ...

**math**

Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $42,100 with factory and dealer rebates of $5,100 (a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.) $ 1 (b) ...

**Math for Ms. Sue Or Steve**

Use an equation to solve the problem. 1. What is 57% of 11? a. 11 = 0.57 • n; 19.3 b. n = 57 • 11; 627 c. n = 0.57 • 11; 6.27*** d. 11 = 57 • n; 0.19 2. 224 is 25% of what number? a. 224 • 0.25 = w; 560 b. 224 = 0.25 • w; 896 c. 224 • 0.25 = w; 56*** d. 224 = 0....

**Math**

The Garraty company has two bond issues outstanding. Both bonds pa $100 annual interest plus $1,000 at maturity. Bond L has a maturity of 15 years and Bond S a maturity of 1 year. A). What will be the value of each of these bonds when the going rate of inters is (1) 5 percent...

**business finance**

Lisa Kane borrowed $8,000 on an 8%, 60-day note. After 15 days, Lisa paid $2,000 on the note. On day 45, Lisa paid $1,000 on the note. What is the total interest and ending balance due by the U.S. rule? Use ordinary interest.

**Finance**

Jim Bob is a stock picking genius. Every year, based on his system, he has the ability to invest $100 (only) in a security that is expected to earn a 20% return over the next year. That security always has a beta of one. Assume that the risk free rate is 4%, and the market ...

**math**

a city had 310 days of sunshine one year and 250 the next year (find the percent of increase or decrease to the nearest tenth of a percent.

**math**

Compute the rate for the following loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Do not enter the percent symbol in your answer. Principal Rate (%) Time Interest $5,000 % 3 years $1,200

**finance**

which of the following investments paid the highest rate of return? (a) a corporate bond that paid $72 per year in interest and that cost $600 to purchase (b) a money market fund that paid 8 percent interest (c) a corporate stock that cost $40 to buy and that paid dividends of...

**Math 0098**

Last year, Deon had $20,000 to invest. He invested some of it in an account that paid 6% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year. After one year, he received a total of $1880 in interest. How much did he invest in...

**ALGEBRA**

Find the APR for the following loan (monthly payments). (Round your answer to the nearest full percent.) Purchase a refrigerator for $2,100 at 20% add-on interest for 3 years.

**ALGEBRA**

Find the APR for the following loan (monthly payments). (Round your answer to the nearest full percent.) Purchase a refrigerator for $2,100 at 20% add-on interest for 3 years.

**algebra**

Last year, Susan had 30,000 to invest. She invested some of it in an account that paid 8% simple interest per year, and she invested the rest in an account that paid 7% simple interest per year. After one year, she received a total of $2150 in interest. How much did she invest...

**Algebra**

Last year, Deon had $10,000 to invest. He invested some of it in an account that paid 6%simple interest per year, and he invested the rest in an account that paid 9% simple interest per year. After one year, he received a total of $810 in interest. How much did he invest in ...

**Personal Finance**

Suppose you buy a two-year CD for $10,000 from First Command Bank. Assume monthly compounding. Use the APR from the below Table 4.1 and the compound interest formula to determine how much interest the CD earns for you at maturity. The Table says APR is 3.84%

**Math**

A customer purchased a car and financed $16,000. The customer borrowed part of the money from a bank charging 10% annual interest and the rest from a credit union at 8% annual interest. If the total interest for the year was $1,390 how much was borrowed from the bank and how ...

**Financial Management**

Lansing Inc. has decided to expand. During the last year the company borrowed $5 million for a term of 30 years to finance a new factory, and sold 60,000 shares of stock at $51 per share to pay for new equipment. Lansing also made a payment of $500,000 on an old long-term loan...

**MAT115**

if the electricity bill increased from $10,000 to $13,000 in a year, to the nearest whole percent, what was the rate of increase? I need to see how to work this one. I divided 3,000 by 10,000 and got.3 What is that in percent and is this even the right way?

**Math**

You deposit $10,000 at 5% per year. What is the balance at the end of one year if the interest paid is (a) simple interest (b) compounded monthly

**ACCT**

The question is: In the journal provided, prepare year- end adjustments for the following situations. Omit explanations. a. accrued interest on notes receivable is $105 b. of the $12,000 received in advance of earning a service, one third was still unearned by year end. c. ...

**Accounting**

Journalize the following transactions and omit the explanations. A. ABC Corporation purchased $15,000 of office furniture by putting $7,000 down in cash and the rest on account on April 8. B. The corporation paid $60,000 for a two-year lease on April 19. C. The corporation had...

**Math**

Zoey has invested $30 000 in a registered education savings plan (RESP). She wants her investment to grow to at least $50 000, so that her newborn can go to university at age 18. What interest rate, compounded annually, will result in a future value of $50 000? Round to the ...

**math**

An amount of $27,000 is borrowed for 6 years at 8.25% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

**Finance**

Suppose that five years ago Cisco Systems sold a 15-year bond issue that had a $1,000 par value and a 7 percent coupon rate. Interest is paid semiannually. a. If the going interest rate has risen to 10 percent, at what price would the bonds be selling today? b. Suppose that ...

**income tax preparation**

jim johnson has 40% interest in Richards and Johnson, LLP. The partnership has the following activity for the year sales 180,0000 cost of goods 105,000 guaranted payment richard 25,000 depreciation 11,000 interest expense 1000 tax exempt income 1500 healthe insurance premium ...

**accounting**

18. Balance sheet and income statement data indicate the following: Bonds payable, 6% (issued 2000, due 2020) $1,200,000 Preferred 8% stock, $100 par (no change during the year) 200,000 Common stock, $50 par (no change during the year) 1,000,000 Income before income tax for ...

**Math**

Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $42,200 with factory and dealer rebates of $5,100 (a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.) (b) Find ...

**algebra**

Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $42,500 with factory and dealer rebates of $5,100 (a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.) (b) Find ...

**Algebra**

Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $42,900 with factory and dealer rebates of $5,100 (a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.) $ (b) Find ...

**Accounting HELPPPP**

Jim Johnson has 40% interest in Richards and Johnson, LLP. The partnership has the following activity for the year: Sales $180,000 Cost of Goods Sold 105,000 Guaranteed Payment to Ron Richards 25,000 Depreciation 11,000 Interest Expense 1,000 Tax-Exempt Income 1,500 Health ...

**math- algebra 2**

An amount of $20,000 is borrowed for 13 years at 5% interest, compounded annually. If the loan is paid in full at the end of that period, how much must be paid back?

**math - APR**

Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $42,650 with factory and dealer rebates of $5,100 a-Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent. b-Find the ...

**Accounting**

On April 1, 2013, Ringo Company borrowed $20,000 from its bank by using a 9%, 12 month note, with the interest to be paid on the maturity date. I need to find the interest paid on the maturity date, prepare a journal for it, and then make a reversing entry.