The monthly payment on a $300,000 30 year mortgage at 6% annual interest rate is$1798.65. What is the interest payment for the first month?

Work the following applied problem.

Which of these 20-year zero-coupon bonds will be worth more at maturity: one that sells for $4510, with a 6.1% interest rate, or one that sells for$5809, with a 4.8% interest rate?

Suppose an amount P is invested at an interest rate r and A is the amount after t years.

(a) Write an expression for A if the interest is compounded n times per year.

(b) Write an expression for A if the interest is compounded continuously.

Suppose that $20,000 is invested at continuous rate r and grows to$81,104 in 28 years. Find the interest rate r.

Find the time required for a $1000 investment to (a) double at interest rate r, compounded continuously, and (b) triple at interest rate r, compounded continuously. Round your results to two decimal places.$r = 2.5%$

A company issued bonds with a $100,000 face value, a 5-year term, a stated rate of 6%, and a market rate of 7%. Interest is paid annually. What is the amount of interest the bondholders will receive at the end of the year?

Find the simple interest paid to the nearest cent for each loan amount, interest rate, and time. $1,000, 7%, 2 years

Suppose an amount P is invested at an interest rate r and A is the amount after t years.

(a) Write an expression for $A$ if the interest is compounded $n$ times per year.

(b) Write an expression for $A$ if the interest is compounded continuously.

Find the time required for a $1000 investment to (a) double at interest rate r, compounded continuously, and (b) triple at interest rate r, compounded continuously. Round your results to two decimal places.$r = 7 %$

Find the compound amount and compound interest if $4000 is invested for six years and interest is compounded continuously at the given annual rate. 9%

Bill Rich signed a 180-day note for $1,250. He repaid the loan when due with interest at an annual rate of 12 % using a banker's year.

Kelly Bullock borrowed$4,800 for 6 months and paid $264 interest. What rate of interest did she pay?

Find the time required for a $1000 investment to (a) double at interest rate r, compounded continuously, and (b) triple at interest rate r, compounded continuously. Round your results to two decimal places.$r = 6%$

Bill Rich signed a 180-day note for $1,250. He repaid the loan when due with interest at an annual rate of 12 % using a banker's year.

Tony Colito paid$19.50 in interest on a loan of $2,600 for 1 month. What rate of interest did he pay?

Use the compound interest formula, $A(t)=P\left(1+\frac{r}{n}\right)^{n t}$.

Use properties of rational exponents to solve the compound interest formula for the interest rate, $r$.