A man bought a Ford vintage car for P210,000 on installment basis at the rate of 12% per year compounded quarterly on the unpaid balance. If he paid a down payment of P80,000 in cash and proposes to pay the balance in 20 quarterly payments, what should this payment be?   A. 8,633 B. 15,452 C. 17, 404 D. 8738

Q: A house is purchased for $368,000 with a 20% down payment. A mortgage is secured at 6% for 20 years.…

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Q: Marcel Thiessen purchased a home for $208,200 and obtained a 15-year, fixed-rate mortgage at 7%…

A: Marcel Thiessen purchased a home for $208,200 and obtained a 15-year, fixed-rate mortgage at 7%…

Q: A bond has a $11,000 face value, an 8-year maturity, and a 2.75% coupon. Find the total of the…

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Q: Andre takes out a student loan for his first year of civil engineering. The loan agreement states…

A: Given query is to find the loan amount.

Q: If vou buy a computer directly from the manufacturer for $2,835 and agree to repay it in 36 equal…

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Q: A business must pay an annuity of $ 20,000 quarterly with j4 = 5%. Calculate the semester payment to…

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Q: Jungkook purchased a new car under these terms: 800,000 php downpayment and 17,500 php each month…

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Q: A bond has a $14,000 face value, a 9-year maturity, and a 2.95% coupon. Find the total of the…

A: Given Principal = $14000 time = 9 rate r = 2.95%

Q: A contract calls for a payment of P 1,200 at the beginning of each month for 12 months. At what rate…

A: We will use basic knowledge of the compound interest formula to answer this question.

Q: A man bought a lot worth P2026862 if paid in cash. By installment, he paid a down payment of…

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Q: What are the monthly payments on a mortgage of $60,000 at 9% interest if the loan is to be repaid in…

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Q: If you buy a computer directly from the manufacturer for $2571 and agree to repay it in 4 years (48…

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Q: Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. b. How much will…

A: Given that, the loan amount is P=$175,000, interest rate r=4.5%, time n=30 years and due is monthly…

Q: If you buy a computer directly from the manufacturer for $2,436 and agree to repay it in 48 equal…

A:

Q: A mortgage of $100,050 is repaid in 240 monthly payments of $900. Determine the monthly rate of…

A: A mortgage of $100,050 is repaid in 240 monthly payments of $900. Therefore the total amount of…

Q: c) After making a down payment of GH¢4000 for an automobile, the municipality paid GH¢400 per month…

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Q: A bond has a $11,000 face value, a 6-year maturity, and a 2.9% coupon. Find the total of the…

A: solutionGiven principle(p)=$11,000Rate=2.9%=0.029timet=6

Q: Find the monthly payment (before the balloon payment) for a 25-year, interest-only balloon mortgage…

A: Given that:  P = amount of loan = $300,000  r = APR = 7% =0.07  n = length of the loan = 25 yr

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: A contractor boughtba concrete mixer at $3200, if paid in cash. The mixer may also be purchased by…

A: Given P=3200 n=5 i=8% =0.08

Q: Jessica had a loan of $142,000 and made payments of $4,000 at the end of every month to settle it.…

A: In this question, we will use the compound interest formula.

Q: In order to purchase a home, a family borrows $45,000 at an annual interest rate of 12%, to be paid…

A: In order to purchase a home a family borrows $45,000 at an annual interest rate of 12% to be paid…

Q: If you buy a computer directly from the manufacturer for $3,192 and agree to repay it in 36 equal…

A: Image is attached with detailed solution.

Q: balance on the loan at the end of year 4?

A: We have to find out the balance on the loan at the end of year 4. Loan amount is $495,000 and the…

Q: Mr. and Mrs. Onez bought a house and lot with a down payment of P1,000,000.00 and a yearly payment…

A: Given down payment =106, yearly payment =2×105

Q: Marcel Thiessen purchased a home for $204,300 and obtained a 15-year, fixed-rate mortgage at 8%…

A: Solve the following

Q: Danielle wants to purchase a new TV for $1215.00 including taxes. If she puts it on a line of credit…

A: We have to calculate the final amount after 2 years of time period. This problem can be solved using…

Q: You have taken a loan of $54,000.00 for 37 years at 5.8%o

A: I have provided this answer with full description in step-2.

Q: The payment on a 15 year loan at 9.36% compounded weekly is $180. Calculate the amount of the loan.

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Q: Suppose you obtain a 25-year mortgage loan of $195,000 at an annual interest rate of 8.2%. The…

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Q: How much is the cash value of the car if the interest used is 12% monthly?

A: Given:monthly payment =17,000 Interest rate=12% Formula used: PV annuity=P×1-1+I-nI

Q: After paying his down payment, Leo takes out a $320,000 mortgage at 3.6% compounded monthly for 30…

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Q: Mr.  Allen purchased an annuity that pays 19% compouned annually. If the yearly payment is $3,500,…

A: With the help of compound interest formula we can solve this problem easily- The formula for…

Q: 1. Mr. Cruz borrowed P110,000 at 5% simple interest to pay as down payment for a house and lot. If…

A: Solution

Q: The principal is $3,000,000. Mortgage payments are paid monthly. Compare the mortgage payments for a…

A: Since we know the principal value is 3000000, we can say that the present value for both the…

Q: Jack borrowed a $35,000.00 loan with a simple annual interest of 4.50%, what is the total amount he…

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

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Q: A man bought a lot worth P1.2M if paid in cash. On the installment basis, he paid a down payment of…

A: In this question, we have to calculate simple interest of last 2 year. As given on this question.

Q: Charlotte wants $30,000 in eight years by making monthly payments into an annuity that pays 4 1/2 %.…

A: Charlotte wants $30,000 in eight years by making monthly payments into an annuity that pays 412%

Q: A man pays P 129,254  every end of six (6) months for a car bought on installment terms. If the man…

A:

Q: A bond has a $14,000 face value, a 9-year maturity, and a 2.85% coupon. Find the total of the…

A: Topic - interest payment on bond Interest Payment = face value × r ×t

Q: If you borrow $4,000 for 4 years at an interest rate of 3%, how much TOTAL will you pay? * O $8000 O…

A: Given that P = 4000 R = 3% = 0.03 T = 4 Since We know that SI = PRT

Q: Louie has $825,000 in a retirement annuity that pays 2% compounded quarterly. How much can he…

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Q: Susan wants to purchase a new couch and loveseat for $1895.00 including taxes. If she puts it on a…

A: Given: Susan wants to purchase a new couch and loveseat for $1895 including taxes. She puts it on a…

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: Compound Ammount Formula

A: Given, P= 26000 r= 8% n= 4(quarterly) t= 3 years

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…