A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the homeowner borrow for 3 years at 9%, compounded monthly, and still stay within the budget? (Round your answer to the nearest cent.)
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A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the homeowner borrow for 3 years at 9%, compounded monthly, and still stay within the budget? (Round your answer to the nearest cent.)
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- A homeowner planning a kitchen remodeling can afford a $500 monthly payment. How much can the homeowner borrow for 4years at 3%, compounded monthly, and still stay within the budget? (Round your answer to the nearest cent.) $A couple purchasing a home budget $1400 per month for their loan payment. If they have $25,000 available for a down payment and are considering a 25 year loan, how much can they spent on the home at the following rate 7.1% compounded monthly? ______A couple purchasing a home budget $1800 per month for their loan payment. If they have $16,000 available for a down payment and are considering a 25-year loan, how much can they spend on the home at each of the following rates? (Round your answers to the nearest cent.) (a) 6.3% compounded monthly(b) 7.1% compounded monthly
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- Rudy Anne wants to buy new farm equipment costing P350,000 making a down payment of P50,000. The remainder is to be paid at the end of each month for five years at 15% compounded monthly. Find the amount needed for monthly payments.The manger of a technology store wants to save $40,000 in 3 years to make a down payment on a condominium. How much (in dollars) does the manager need to invest at the beginning of each week into an account that earns 9.75% interest compounded weekly? Round your answer to the nearest cent.)Based on their budget, Bryce and Sylvia have determined they can afford up to $2,500 per month for their mortgage. They have been pre-approved for a 20-year loan at 3.875% and they have $50,000 saved for a down payment. The PMI rate is 0.5% and homeowner's insurance will be $100 per month. If they purchase a $400,000 home, they will be (under/over) ??? their monthly maximum by ??? (note: property taxes are not included in the $2,500 max)