Solve the problem. Assume that simple interest is being calculated in each case. Round the answer to the nearest cent
unless otherwise indicated.
-Allan borrowed $3900 from his father to buy a car. He repaid him after 9 months with interest of 7% per year. Find the total amount he repaid.
A) $4104.75
B) $4173.00
C) $4082.00
D) $204.75
Correct Answer:
Verified
Q12: $900 at 3% for 1 year
A)$27
B)$270
C)$3.00
D)$2.70
Q13:
Q14: $2950 at 4% for 1 years
A)$118.00
B)$11,800.00
C)$11.80
D)$737.50
Q15:
Q16: Find the future value of the deposit
Q18: $800 at 8% for 8 years
A)$800.00
B)$512.00
C)$51.20
D)$12.50
Q19: Solve the problem. Assume that simple interest
Q20: Find the future value of the deposit
Q21: Use the compound interest formula to compute
Q22: Find the compound interest earned by
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