# Mr. Cruz

Mr. Cruz borrowed 21,600 euros for 3 years at 16 2⁄3% compounded annually. While Mr. Santos borrowed the same Amount at Simple Interest for the same period and at the same rate of interest. Who Pays more and how much?

### Correct answer:

Tips for related online calculators

Need help with mixed numbers? Try our mixed-number calculator.

Our percentage calculator will help you quickly calculate various typical tasks with percentages.

Our percentage calculator will help you quickly calculate various typical tasks with percentages.

#### You need to know the following knowledge to solve this word math problem:

**algebra**- geometric progression
**arithmetic**- exponentiation
- comparing
**basic functions**- percentages
**numbers**- mixed numbers

#### Units of physical quantities:

#### Themes, topics:

#### Grade of the word problem:

## Related math problems and questions:

- You take

You take out Php 20 000 loan at 5% interest rate. If the interest is compounded annually, a. Give an exponential model for the situation b. How much Will you owe after 10 years? - Loan 4

Mr. Santos borrowed Php.18,000 at 1.5% interest for one year. What was the total amount he paid for the end of the 1-year term? - Annual interest

A loan of 10 000 euro is to be repaid in annual payments over 10 years. Assuming a fixed 10% annual interest rate compounded annually, calculate: (a) the amount of each annual repayment (b) the total interest paid. - An account

Seth has $9,399 in an account. The interest rate is 4 17/20% compounded annually. To the nearest cent, how much will he have in 2 years? - Borrowed 42101

Zuza borrowed a certain amount from the bank, with the proviso that she would return 15,000 euros a year. The annual interest rate was set at 4.5%. How much did Zuza borrow? - Interest 6043

Mr. Vysoky took out a mortgage on the house. He borrowed a total of 2 million for ten years. The interest rate was 2.3%. How much will Mr. Vysoky pay in total if the interest rate does not change? - Future value

Suppose you invested $1000 per quarter over a 15 years period. If money earns an annual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earned? - Interest compounded annually

If you deposit $4500 at 5% annual interest compounded annually, how much money will be in the account after 10 years? - Two years

Roy deposited 50,000.00 into his account paying 4% annual interest compounded semi annually. How much is the interest after 2 years? - Annual pension

Calculate the amount of money generating an annual pension of EUR 1000, payable at the end of the year and for a period of 10 years, shall be inserted into the bank to account with an annual interest rate of 2% - Interest 8369

Mr. Novák borrowed € 3,500 from the bank with an annual interest rate of 14%. He repaid the loan after a year. How much did he pay to the bank? - Monthly payments 2

Suppose you have selected a new car to purchase for $19,500. If the car can be financed over a period of 4 years at an annual rate of 6.9% compounded monthly, how much will your monthly payments be? - Saving for education

Suppose that a couple invested Php 50 000 in an account when their child was born, to prepare for the child's college education. If the average interest rate is 4.4% compounded annually, a, Give an exponential model for the situation b, Will the money be - Edmond

Edmond Santos borrowed USD 20,000 for 18 months at 6 1/2 % per year. Find the APR (Annual Percentage Rate) if the loan was repaid monthly. The answer is: Note: APR is expressed as a percentage that represents the actual yearly cost of funds over the term - Savings

The depositor regularly wants to invest the same amount of money in the financial institution at the beginning of the year and wants to save 10,000 euros at the end of the tenth year. What amount should he deposit if the annual interest rate for the annua - Five years

Nakato Nobuki, a Japanese artist, wants to have $24,000.00 in his savings account at the end of five years. Mr. Nobuki deposits $1,500.00 annually into savings and has a balance of $8,000.00 today. What must the interest rate on the savings account be for - Interest

Calculate how much you earn for 10 years 43000 deposit if the interest rate is 1.3% and the interest period is a quarter.