subject
Mathematics, 16.06.2020 22:57 hinsri

Your cousin Vinny wants to borrow $23750. He’s willing to pay you back over 8 years with simple interest. Your alternative is to invest in the $23750 into an account paying 7.75% compounded monthly. A) How much interest would you earn in your investment if you deposit $23750 into an investment account for 8 years? Round to nearest cent. B) What annual interest rate to you charge Vinny in order to make the same amount of interest on his loan as your investment account? Round to nearest hundredth of a percent.

ansver
Answers: 3

Another question on Mathematics

question
Mathematics, 21.06.2019 19:30
Jada has a meal in a restaurant she adds up the prices listed on the menu for everything they ordered and gets a subtotal of $42.00. after tax the total is 45.99. what percentage of the subtotal is the total?
Answers: 2
question
Mathematics, 21.06.2019 21:30
The price of a dozen eggs was $1.63. suppose the price increases m dollars per dozen and then the price decreases $0.12 per dozen. which expression represents the current price of eggs after the two price changes?
Answers: 1
question
Mathematics, 21.06.2019 22:20
Which graph has figures that can undergo a similarity transformation to justify that they are similar? (obviously not the third one)
Answers: 2
question
Mathematics, 22.06.2019 02:40
On which number line are -3 and its opposite shown
Answers: 3
You know the right answer?
Your cousin Vinny wants to borrow $23750. He’s willing to pay you back over 8 years with simple inte...
Questions
question
Mathematics, 15.10.2019 03:00
question
Biology, 15.10.2019 03:00