OK simply a few more question..i call for give support to pretty please. MATH HELP!?
can some one explain to me how to do each problem?Tom borrowed $35,000 to remodel his house. At the cease of the 5 year load, he have repaid a total of $46,375. At what simple interest?
Eliza deposits $8500 ina college fund. If the fund earns an anual simple interest rate of 6.5%, how long must the money be contained by the fund to earn $9392.50 in interest?
Premier ridge loaned a construction company repaid the bank $350,625. WHat be the interest rate on the loan?
Answers: 1. 46,375 less $35,000= $11,375 interest,
divided by $35,000, after divide by 5 years =
6.5% simple interest per year.
2. Eliza - 17 years.
$8500 x 6.5% = $552.50 for 1 year
$9,392.50/ $552.50 = 17 years.
3. Premier bank - not sufficiently expert to solve because you neglected the rest of the facts to answer.
You neglected to state the inital amount borrowed, and the number of years.
GOD bless us always.
MBA-Boston Univ.
CPA-retired
1. Tom have a 5 Year loan for $35,000 and the TOTAL payments were $46,375, or $772.92 per month. You necessitate to find the interest rate on the loan.
2. Eliza has $8500 invested at 6.5%. You necessitate to determine how many years it will run before it is worth $$17892.50 ($8500 + $9392.50).
3. You are missing partly the question, but is appears to work matching as 1.
I am certain within are PV (present value) and FV (future value) tables and formulas surrounded by the chapter you are supposed to be learning. They will provide the answers you entail.
To: May I Help You?: Please DON'T do peoples homework for them. That will only allow them to olden the class without knowing what they are supposed to revise. Then you will end up doing their JOB contained by the future.
Transfer my business chain of credit?
I started a company with another human being and he asked me to apply for business line of credits for the company to use. He after max-ed out the money on the credits. I'm now no longer near the company, but that person is not responding to my requests of him taking over the procession of credits responsibility. What I can do? ThanksAnswers: You can TRY to get the guard to release you. Assuming the line of credit is surrounded by the BUSINESS name, you own a shot at that. In the very possible chance they won't release you, your ONLY substitute is to pay bad the existing balance and sue him for repayment. You CAN inform the edge you will not be liable for any FUTURE borrowing against the line. If they allow your partner to hang on to using the line, they must pursue HIM for those amounts.
Credit card?
hello,i owe someone $20000 that i have to return after 4 months from immediately,and i also owe credit card $13500 and my credit available is$ 5100,i have invested $11500 that provide me a monthly profits of $1100,in supplement to $1900 monthly salary from my regulurlar assignment,so in total my monthly income is 3000my quetionis:which is the best selection i could do,should i continue investing those 11500 for more 4 months and afterwards withdraw them next to credit avaliable at that time and pay the individual back or is it better to repeal the invested money(11500) and pay my credit debt contained by hope that after 4 months my credit line will increase because i payed backbone a large amount of money to the credit card company adjectives at once and maybe i might hold extra money to invest again
Answers: How much interest did you get on your credit card this month? Less than the $1100 profit, I'm sure! You will definetely enjoy enough if you set out the profit in within too, that's 11500 invested + 4400 profit + 5100 available credit = $21,000. You don't know if your credit line will be increased to $20k. You can probably live rotten $1900 a month, just craft your budget and stick to it!
What is this investment - can the amount go down? That anyone said, you have put yourself contained by a very doomed to failure predicament. Your debt side has far exceeded your plus side. And you dolefully think that you are "earning" on someone elses money. What going on for money to live on?
Credit is something not to play with. Credit score are not games. I would pay past its sell-by date the 20k, not invest using credit card money. The interest rate you are paying on your card is far more than you can earn so in authenticity, you are losing. You need credit counseling.
I would income back adjectives the money and only invest next to EARNED money. If you invest with money on a credit card - it is a loss from the start.