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please solve all questions. 6. How many years will it take Jack to pay off his debt of $5,700 at a simple rate of 8.5%
please solve all questions.
6. How many years will it take Jack to pay off his debt of $5,700 at a simple rate of 8.5% and pay a total interest of $1,090? 7. Find the principal of a loan taken at 8% for 3 years when the total interest is $516. 8. What is the current value of a loan taken at 3% for 4 years if the interest paid is $1,350? 9. What is the current value of a loan taken at 7% for 5 years if the borrower has to pay a total of $11,500? 10. If you deposit $600 at a bank paying 44% simple interest, how much will you collect after 11 months? 11. If you want your balance to be $8,000 in 4 years and if you deposit your money at a bank paying 62%, how much is the initial deposit? 12. Find the amount of money that $700 would grow to if you leave it for 6 years at a bank paying 112% simple interest? 13. What is the rate of interest for Linda, who saved $2,500 in her havings account and collected $2,590 after 20 months Step by Step Solution
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