A debt of P 1000 is to be paid off in 5 equal yearly payments, each combining an amortization installment and interest at 4% on the previously unpaid balance of the debt. What should be the amount of each payment? P 224.62 P 242.61 P 222.50 P 220.50

Q: Locust Inc. owes $17,000.00 to be repaid by monthly payments of $490.00. Interest is 11% compounded…

A:

Q: iv) Use your formula to determine the monthly payments at the beginning of each month on a $15 000…

A: Given: Loan Amount, P = $15000 Interest rate, r = 3% = 0.03 Number of years, t = 3 Number of period,…

Q: The price of a new car is $36,000. Assume that an individual makes a down payment of 25% toward the…

A: Given, Principal = 36000 Down payment = 25%  So, the amount after the downpayment =  36000 -…

Q: A loan of 51000 dollars at 7.8 percent interest compounded annually is amortized with 11 equal…

A: We will find out the required value of equal size of payment.

Q: A design studio received a loan of $260,000 at 3.6% compounded monthly to use as working capital for…

A:

Q: An annuity pays 8100 dollars on January 1 of each year, starting on January 1, 2000. If 21 payments…

A:

Q: Suppose that your unsubsidized Stafford loans plus accumulated interest total $20,000 at the time…

A: Given, Suppose that your unsubsidized Stafford loans plus accumulated interest total $20,000 at the…

Q: Calculate

A:

Q: Q1. You currently owe $125,000 on a 5.75% mortgage. How much interest will be due on your next…

A: To find - You currently owe $125,000 on a 5.75% mortgage. How much interest will be due on your…

Q: Mr. Eugenio bought a house and lot at a cash value of 12,000,000.00 php. He made a down payment of…

A: Solution: 12,000,000 -2,000,000 = 10,000,000 Loan Amount 10000000 Number of years 20 Interest…

Q: A couple secures a 30-year loan of $100,000 at 9 3/4% per year, compounded monthly, to buy a…

A:

Q: Gregory Mines Corporation wishes to purchase a new piece of equipment in 4 years. The estimated…

A: it is known that  number of compounding factor = lengths of time ×4 given length of time = 4 years…

Q: A family purchased a new home for $150,000. They made a down payment of 12% of the purchase price…

A: Given that the total purchasing price for a new home is $150000. The down payment made is 12% of the…

Q: Tan Company purchased a large server for $20,000. The company paid 35% of the value as a…

A: Solution:

Q: Thomas received 50,000 php from his parents during his 33rd birthday. He invested his money in a…

A: Solution..

Q: Salim wants to remodel his game room in 3 years. He estimates the cost to be $19317. Find the…

A: Use sinking fund formula.

Q: Shaun Murie wants to expand his pharmacy. To do this, he takes out a bank loan of $49,275 and agrees…

A: Solution:Given    P=$49,275     r=12.2%=0.122n=48 months=4 yearTo find the amount of each payment…

Q: J-ALLEN TECH is offering a television set for $9,000.00 on Hire Purchase. It can be bought by making…

A: The given is price of television set is $9000. It can be bought by making 10% down payment and with…

Q: Find the amount of the payment to be made into a sinking fund so that enough will be present to…

A:

Q: You want to buy a $33,000 car. You can make a 10% down payment, and will finance the balance with a…

A: The purchasing price of the car is $33,000. I have paid 10% payment on cash. Then the remaining…

Q: Salim wants to remodel his game room in 5 years. He estimates the cost to be $16166. Find the…

A: Given data set: Rate of interest = 3% Time period = Annuity term= 5 years Type of annuity= Ordinary…

Q: An $82,000 business can be purchased by making a down payment of $17,000 and financing the balance…

A:

Q: I will invest P15,000 per quarter for my retirement at 7.3% compounding quarterly for 10 years. I…

A: Here,  Pmt=15,000r=7.3%n=4t=10

Q: You want to buy a $25,000 car. You can make a 10% down payment, and will finance the balance with a…

A: To find the monthly payments

Q: Gallant takes out a 15-year mortgage for $250,000 at 3.6% compounded monthly .a) What are his…

A: given, Gallant takes out a 15-years mortgage for $250,000 at  3.6% compounded monthly. We know that,…

Q: You have $2,000 on a credit card that charges a 23% interest rate. If you want to pay off the credit…

A: Given data is: $2,000 on a credit card P=$2,000 r=23%=0.23 Number of years N=4 years The total month…

Q: Larry invested $12,000 at an interest rate of 10.18% for 4 years. If the amortization schedule needs…

A:

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $505,000 home…

A:

Q: Philip borrowed a loan of $12,000 for 29 years and financed it by 15 level payments payable at the…

A:

Q: A condominium unit is being amortized with a quarterly payment of P56,000 for 5 years at 3%…

A: Solution :  Given that  quarterly payment = P 56000 Interest rate r = 3% Compounded quarterly , n =…

Q: A car on sale costs P2,850,000.00 and requires a 10% down payment if purchased on an installment…

A: There is no such introduction for the solution.I have explained it within the solution.Please go…

Q: You want to buy a $15,000.00 car. You can make a 10% down payment, and will finance the balance with…

A:

Q: Sandra buys a new car for $18,600. She puts 15% down and obtains a simple interest amortized loan…

A: Here, Car price= $18,600 Down payment=0.15 Annual rate= 6.25% Number of months= 5*12= 60 months

Q: Joe secured a loan of $10,000 three years ago from a bank for use toward his college expenses. The…

A: We know that  PV=P1+rmmt PV is the present value of loan. P is Principal amount taken rm is interest…

Q: Linda and Casey have a $126 000 mortgage at 5.15% per year on their two-bedroom house. Determine the…

A:

Q: by using tables Table 12-1 and Table 12-2. Jennifer Kaufman bought a used Toyota Prius for $18,500.…

A:

Q: 3. A company offers a deferred payment option for the purchase of any furniture. Gladys plans to buy…

A: Given that, the monthly payment is R=4000, interest rate is r=10%, time t=2 years and period m=12.…

Q: J-ALLEN TECH is offering a television set for $9,000.00 on Hire Purchase. It can be bought by making…

A:

Q: abriella wants to buy a house costing $95,000, and she has $12,000 for the down payment. She can…

A: NOTE: Refresh your page if you can't see any equations. . the cost of the house is $95000 and the…

Q: Planning to give his son a car as a gift when he graduates from college 2 years from now, Adam…

A: From the question we know the time(t) is 2 years, n is 12 ( compounded monthly) and rate(r) is…

Q: 4. If a 5-year ordinary annuity has a present value of $1,000, and if the interest rate is 10…

A: Formula: The formula to find the amount of annuity payment is A = V × r1 - (1 + r)-n , where V is…

Q: Willie deposits a fixed monthly amount into an annuity account for his child’s college fund. He…

A: We have to find monthly deposits and interest earned.

Q: r. and Mrs. Smith have just purchased a $1,200,000 home and made 20% down payment. The balance can…

A: Given that  Mr. and Mrs. Smith have just purchased a $1,200,000 home  Down payment made = 20% of…

Q: A group of private investors purchased a condominium complex for $4 million. They made an initial…

A: Given that the total payment of the complex is $4 million. Since 1 million = 1000000, $4 million =…

Q: A company offers a deferred payment option for the purchase of any furniture. Gladys plans to buy a…

A: We have to find how much is the cash price of the dining set if the company will give 10% compounded…

Q: Q. 4. If you sell your car to someone for OMR 9500 and agree to finance it at 15 % compounded…

A:

Q: 26.A man paid 10% down payment of P250,000 for a house and lot and agreed to pay the 90% on monthly…

A: Monthly intrest formula C=Pr[1+(r)]n/ [(1+r)n-1] For n is no of times compounded in year n- no of…