1.)raymond is taking out a $30,000 loan to purchase a camper. his bank offers him a 5-year loan at a 9% annual interest rate.
what is the monthly interest rate on the loan?
0.09
0.0009
0.75
0.0075

You borrow $25,000 to buy a boat. the simple interest rate is 4%. you pay the loan off after 10 years. what is the total amount you paid for the loan?

Abank manager wants to encourage new customers to open accounts with principals of at least $2 comma 500. he decides to make a poster advertising a simple interest rate of 3%. what must the principal be if the bank manager also wants to advertise that one can earn $10 the first month? can the poster correctly say, "open an account of $2 comma 500 and earn at least $10 interest in 1 month! "?

The length of time for one individual to be erved at a cafeteria is a random variable having an ex- ponential distribution with a mean of 4 minutes. what is the probability that a person will be served in less than/3 minutes on at least 4 of the next 6 days?