Question

Capital Credit has offered Jackson a credit card loan of $5000 at an interest rate of 13.9%. If he was repay this loan in 3 years how much interest will he pay? Use the simple interest formula.

6143.40
2085.00
695
170.65

Adam borrowed $500 from Precise Payday Loans and will repay the loan in three months ( .25 years) . Precise Payday Loans charges a $25 application fee and 22% simple interest. What is the total amount of the loan principle, interest, and fees Adam will pay for this loan?

The Rodriguez family has taken out a loan of $6750 to purchase a new ski boat. The loan has an compound interest rate of 8.25% and a term of 4 years. Use an online calculator.


Thomas deposited $800 into two different accounts.

- He deposited $450 into an account that pays 4.5% simple interest.

- He deposited $350 into an account that pays 4.25% compounded annually.

If Thomas does not deposit additional money into the accounts and he doesn't withdraw any money from the accounts, which is closest to the total balance he will have in the accounts at the end of 2 years?

$1,220.88
$870.88
$820.38
$871.79

Gerald deposited $950 into two different accounts.

- He deposited $450 into an account that pays 4.5% interest compounded annually.

- He deposited $500 into an account that pays 4.25% simple interest.

If Gerald does not deposit additional money into the accounts and he doesn't withdraw any money from the accounts, which is closest to the amount of interest he will have earned in these accounts at the end of 4 years?

$1,121.63
$177.20
$171.63
$1,116.00

Answer 1

Answer: I am glad I get to help you today. So, I hope this helps you. And Have a great day!!!!!

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