Amy recently opened a new credit card. In her first month, expenditures totaled $500 and she was not charged any interest. Amy paid $80 from her first month's bill. The second month, Amy spent another $60 on her credit card. This time, she was charged 5% interest on her total unpaid balance. How much interest was Amy charged?

Amy recently opened a new credit card. In her first month, expenditures totaled $500 and she was not charged any interest. Amy paid $80 from her first month's bill. The second month, Amy spent another $60 on her credit card. This time, she was charged 5% interest on her total unpaid balance. How much interest was Amy charged?

What interest is expected to be paid on a loan for $55,000 with 3% interest compounded annually over a period of 6 years?

What interest is expected to be paid on a loan for $55,000 with 3% interest compounded annually over a period of 6 years?

Ben and Sam are starting a furniture design business. In order to build their shop, they borrow $150,000 from their neighborhood bank. The interest rate on the loan is 6%. How much interest do they have to pay?

Ben and Sam are starting a furniture design business. In order to build their shop, they borrow $150,000 from their neighborhood bank. The interest rate on the loan is 6%. How much interest do they have to pay?

The equation can be used to calculate simple interest, where is the total interest, is the principal amount, is the rate of interest expressed as a decimal and is the amount of times interest is added.

Grant takes out a personal loan to buy a car. He pays in interest before the loan is repaid. If the interest rate is compounded annually and it took Grant years to repay the loan, what amount was the original loan for?

The equation can be used to calculate simple interest, where is the total interest, is the principal amount, is the rate of interest expressed as a decimal and is the amount of times interest is added.

Grant takes out a personal loan to buy a car. He pays in interest before the loan is repaid. If the interest rate is compounded annually and it took Grant years to repay the loan, what amount was the original loan for?

Ella loaned Frances $10,000 to start a business. They agreed that the loan would be paid back in five years, with a simple interest rate of 9%. When the loan is paid back in full, what will be the total amount that Ella collects?

The equation can be used to calculate simple interest, where is the total interest, is the principal amount, is the rate of interest expressed as a decimal and is the amount of times interest is added.

Ashley wants to take out a loan for some home improvements. She knows that her simple interest rate will be monthly, and that she will need to borrow . If she wants to pay no more than in interest over the life of the loan, what is the longest amount of time in months she has to pay off the loan?