A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the homeowner borrow for 4 years at 9%, compounded monthly, and still stay within the budget?

Q: You decides to buy a car by making a deposit of 20% and R2500 every month for 3 years. If the…

A: periodic monthly car payment =R2500 calculating the loan amount of car using the PV of annuity…

Q: If you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: Here I am attaching image so that you understand each and every step.

Q: John and Rosamond Want to retire in six years and can save $190 every three months. They plan to…

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Q: A man buys a car for $20,000. If the interest rate on his loan is 12% compounded monthly, and if he…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=500 t=36 months…

Q: Jaspreet set up a fund that would pay his family $4,500 at the beginning of every month, in…

A: We can evaluate the following as follows

Q: A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the…

A: Given:

Q: The Jones want to save $86,000.00 in 3 years for a down payment on a house. If they make monthly…

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Q: If you borrow $29,000 at 8.4% annual simple interest for 11 years, how much must you repay at the…

A: use formula written below

Q: If you deposit P5,500 in a bank at an annual simple interest rate of 0.5%, how much money will you…

A: Given  Principle(P) = 5500 Rate(R) = 0.5 Time(T) = 12   By the formula SI = PRT100 = 5500×0.5×12100…

Q: A homeowner planning a kitchen remodeling can afford a $900 monthly payment. How much can the…

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Q: How much will you need to invest today in an account paying 7% compounding quarterly to have $10,000…

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Q: A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can the homeowner…

A: Given that  A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can…

Q: After putting down 20% of $110,000 on a house and paying an interest rate of 3.5% compounded…

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Q: The cost of a four-year private college education (after financial aid) has been estimated to be…

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Q: The Jones want to save $51,000.00 in 2 years for a down payment on a house. If they make monthly…

A: FV=PMT1+rnnt-1rn FV=51000 t=2 years r=3%=0.03 n=12 for a monthly payment

Q: A woman wants to borrow $12,000 to buy a car. She wants to repay the loan by monthly installments…

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Q: A homeowner planning a kitchen remodeling can afford a $200 monthly payment. How much can the…

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Q: If you finance $15,000 for 3 years at 6% compounded monthly, the monthly payments will be…

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Q: A television set is for sale at P13, 499 in cash or in installment terms, P2,500 each month for the…

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Q: The cost of a four-year private college education (after financial aid) has been estimated to be…

A:

Q: A homeowner planning a kitchen remodeling can afford a $400 monthly payment. How much can the…

A:

Q: If 49900 dollars is invested at an interest rate of 9 percent per year, find the value of the…

A: Formula for Compound Interest A=P1+rnnt where A= Accumulated amount P= Principal r= Rate of interest…

Q: A homeowner planning a kitchen remodeling can afford a $800 monthly payment. How much can the…

A: Let's use the annuity formula   We need to calculate the PV

Q: If you borrow $600 for 18 months at 8% annual simple interest how much must you repay at the end of…

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Q: An item at a department store is priced at $189.99 and can be bought by making 20 payments of…

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Q: Leo needs $30,000 to cover

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Q: What monthly payments should Angela pay to save $93,000 in 19 years if money can earn 4.8%…

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Q: A man buys a motor vehicle for $50,000.  if the interest rate on the loan is 12% compounded monthly…

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Q: An insurance settlement of $1 million must replace Trixie Eden's income for the next 40 years. What…

A: Consider the given: Presentvalue=$1millionTime=40yearsInterest=7.4%=0.074 As, we know that:…

Q: Beth has a $12 000 student loan that she needs to repay. Payments are made monthly for the next 2…

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Q: Suppose you want to borrow $20,000 for a new car. You can borrow at 6% per year, compounded every…

A: P = monthly payment PV = loan amount r = rate of interest n = number of periods

Q: A man is disabled in an accident and wants to receive an insurance payment that will provide him…

A: Use the formula for the present value is given below A=P1−1+rn−ntrn...….(1) Here, P=$2500 Rate of…

Q: A homeowner planning a kitchen remodeling can afford a $100 monthly payment. How much can the…

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Q: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: Given:  P=$1,000,000r=6.7%=0.067n=2t=12 year To determine: The amount that can be withdrawn from…

Q: A collector mae a $10,000 down payment for a classic car and agreed to make 18 additional quarterly…

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Q: A homeowner planning a kitchen remodeling can afford a $700 monthly payment. How much can the…

A: The compound interest formula is defined as follows. A=P1+rnnt   where, A is the final amount P is…

Q: Erin would like to buy a $350,000 apartment when she retires in 10 years. How much should she…

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Q: For her​ daughter's education, Georgina Harcourt has invested an inheritance in a fund paying 7.4​%…

A: Given: PMT=$146 Number of years = 9 Total number of months n=9 x 12 =108 Interest=7.4% annually…

Q: Ken is paying off a loan by making a $50 down payment and then $50 payments at the end of every…

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Q: To help pay for Arthur's estimated $33,000 in college expenses, Ryann and Austin make a deposit into…

A: Let, Ptincipal(P)= Semi-annual deposit (R)= x Given, Amount (A)=$ 33000 Rate of interest (i)= 8%…

Q: How many months would it take you to repay a $ 5225 loan by making payments of $ 57 at the end of…

A: The formula for computing the number of years required to pay off a loan when payment is made at the…

Q: A furniture set worth of 40000 is purchased with a down payment of 15000 then followed by equal…

A: we have to find compound interest here

Q: What is the purchase price on a car that has a $350 monthly payment for five years, financed at 6%…

A: Given query is to find the purchase price of the car.

Q: Suppose you make a down payment of 20% of $27,600 and finance the rest at 1.5% compounded monthly…

A: Let  L, c and n denote the loan amount, the rate of interest per payment and the number of payments.…

Q: How much should you invest into an account with 3.2% interest compounded quarterly if you want to…

A: According to the question, we have the data set: Interest rate= 3.2 % = 0.032  n= 4 (amount is…

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

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Q: As a new engineer, you wanted to earn and availed an investment insurance. Every month you are going…

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Q: Suppose on your 21st birthday you begin making bi-weekly payments of $500 into an account that pays…

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