A machine is purchased for $70,000. It had a $8,000 cash discount by the dealer, and had a $2,000 sales tax. Annual insurance on the machine is $1,000. She also bought new tires for the machine, costing $3,500. How much will the machine increase account by?
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A machine is purchased for $70,000. It had a $8,000 cash discount by the dealer, and had a $2,000 sales tax. Annual insurance on the machine is $1,000. She also bought new tires for the machine, costing $3,500. How much will the machine increase account by?
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- Oakwood Plowing Company purchased two new plows for the upcoming winter. In 200 days, Oakwood must make a single payment of $23,200 to pay for the plows. As of today, Oakwood has $22,500. Assume the Oakwood puts the money in a bank today, what rate of interest will it need to pay off the plows in 200 days?A company purchased a new machine for $70,000. They borrowed the money to buy the machine from their bank at an interest rate of 4% per month. They will make 24 equal, monthly payments. How much will the company’s monthly payments be?Acme Steamer purchased a new pump for $75,000. They borrowed the money for the pump from the bank at an interest rate of 0.5% per month and will make a total of 24 equal, monthly payments. How much will Acme’s monthly payments be?
- a man purchased a car with a cash price of 350,000.00 He was able to negotiate with the seller to allow him to pay only a down payment of 20% and the balance payable in equal 48 end of the month. On the day he paid the 20th installement, he decided to pay the remaining balance. How much is the monthly payment? what is the remaining balance that he paid?Polly purchased a car. She paid ₱250,000 as down payment, and ₱15,000 payable at the beginning of each month for 48 months. If money is worth 12% compounded monthly, what is the equivalent cash price of the car?Panpan purchased a car. She paid ₱250,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. Compute the periodic rate, how many payments should be made? and what is the equivalent cash price of the car?
- Panpan purchased a car. She paid ₱150,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. What is the equivalent cash price of the car?Polly purchased a car. She paid ₱150,000.00 as down payment, and₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly.a.) What is the periodic rate?b.) How many payments must be made?c.) What is the equivalent cash price of the car?Panpan purchased a car. She paid 250,000 as down payment, and 5,500 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. 1. What is the equivalent cash price of the car? 2. What is the periodic rate?
- Lush Gardens Co. bought a new truck for $50,000. It paid $5,000 of this amount as a down payment and financed the balance at 5.75% compounded semi-annually. If the company makes payments of $1,900 at the end of every month, how long will it take to settle the loan?A young engineer purchased a new car on an instalment basis with an amount of P 275, 000 as down payment. Remaining balance will be paid by a P 15, 000 equal-end of a monthly payment for a period of two years. However, the first monthly payment happens six months after the purchased. If money is worth 14% effective, find:a) the cash price of the car. b) the single amount to be paid by the engineer after a year of monthly payments if he decided to fulfil his complete obligation to the seller.To purchase $14,300 worth of restaurant equipment for her business, Kala made a down payment of $1700 and took out a business loan for the rest. After 3 years of paying monthly payments of $383.33, she finally paid off the loan. 1. What was the total amount Kala ended up paying for the equipment (including the down payment and monthly payments)? 2. How much interest did Kala pay on the loan?