Riley and Sue paid \( 30 \% \) down for a house valued at \( \$ 135,000 \) in 2013 . By 2017 , they have paid off \( \$ 20,000 \) of the loan. If they sell the house in 2017 for \( \$ 140,000 \), what will the value of their equity be?

The principal \( P \) is borrowed at simple interest rate \( r \) for a period of time \( t \). Find the loan's future value, \( A \), or the total amount due at time \( t \). \( P=\$ 28,000, r=7.5 \%, t=5 \) years

years ago, Hazel won some money in the lottery and put it in a bank account that earns \( 4 \% \) interest compounded quarterly. If Hazel currently has \( \$ 1,000.00 \) in the bank account, now much interest has she earned? Round your answer to the nearest cent.

Using the interest formula \( A=P(1+r) \), solve for the indicated variable. Solve for \( t \).

Determine the present value \( P \) that must be invested to have the future value \( A \) at simple interest rate \( r \) after time \( t \). \( A=\$ 7000, r=4.5 \%, t=4 \) years

The principal \( P \) is borrowed at a simple interest rate \( r \) for a period of time \( t \). Find the simple interest owed for the use of the money. Assume 365 days in a year. \( P=\$ 2000, r=5 \%, t=1 \) year