a man buys a car for 34,000 if the interest rate on the loan is 12% compund monthly and if he wants to make monthly payments of 600$ for 48 months , how much must he put down ?  answer is 11,215.62

Q: The total of the monthly payments for a 5-year loan is $10,692. The APR is 7%. How much money was…

A: Total payment is At=$10,692. The rate of interest is r=7%. Number of years is n=5. The formula for…

Q: 1. Abby placed $4000 into her bank account at a simple interest rate of 4.5% per year for 4 months.…

A: Principal (P) = $ 4000 Rate (R) = 4.5 % per annum Time (t) =4 months = 412 years = 0.33 yr As,  12…

Q: Vermae borrowed PhP 5,500 to her friend and agrees to repay it in 90 days with 5% annual rate. If…

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Q: se a truck for his mobile welding service, jerry arranged a 36-month loan of 45,000 at 4.75% annual…

A: Conversion of annual payment interest to monthly interest: Use the formula I divided by "n," or…

Q: you need a home loan of $85,000 after your down payment. how much will your monthly house payment be…

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Q: Callie calculates the monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate. With…

A: Given : The monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate.

Q: Michael needs Php 10,000 for the renovation of their house. If he will apply for a discounted one…

A: Simple interest(I) of principal amount P, with rate of interest r% for t years is given by, I=…

Q: Madi is looking to buy a used car that will cost her $10,000. She will make a down payment of $5,000…

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Q: Iris Chung has a 15-year mortgage loan at an annual interest rate of 7.5%. After making payments of…

A: To determine the loan payoff value.

Q: Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,700 and financed…

A: Given data is : Price of small sailboat is $8350 and made a down payment of $1700 Monthly payment of…

Q: Find the monthly payment for the loan. Used car financing for $600,000 for 25 months at 11.75%.…

A: here we have to find the monthly payment for the loan. PV (present value of car) = $600,000 n(number…

Q: Joshua’s computer loan statement said that he would pay $1,244.34 in simple interest for a 3-year…

A: Given that, Joshua's computer lean statement said h would pay $1244.34 in simple interest for a 3…

Q: Monique buys a $5,127 air conditioning system using an installment plan that requires 12.5% down.…

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Q: Abigail purchased furniture for $4,500.00 and received an invoice dated June 2, 2013 with terms 4/10…

A: In this question, concept of Discount is applied. Discount When a seller sells items to a buyer, the…

Q: Gina buys her first house for $250,000 at 5% APR with a 30-year mortgage.a. Find her monthly…

A: a) It is given that, Gina buys house for $250000 at 5% APR with a 30-year mortgage. Here Principal…

Q: MIKE DEPOSITED ON MARCH 12, 2020 AT 10.5% SIMPLE INTEREST. ON SEPTEMBER 8, THE FUND ACCUMULATED TO…

A: Given- Mike deposited on March 12, 2020 at 10.5% simple interest. On September 8, the fund…

Q: Georgia purchased a new laptop, which was advertised for $950. She bought it on the installment plan…

A: Given : Price of laptop  = $950, Payment at the time of purchase = $60 Interest rate  = 12% Time  =…

Q: Bob Rohrman is offering a 2016 Toyota Camry for $29,000. If you have a $5,000 down payment and are…

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Q: Lindsay borrowed a certain amount of money for 4 years at an annual simple interest rate of 5.2%. If…

A: Given:   Lindsay borrowed a certain amount of money for 4 years at an annual simple interest rate of…

Q: Melissa Hernandez received an 8-year subsidized student loan of $29,000 at an annual interest rate…

A: It is given that Melissa received an 8-year loan of $29,000 at an annual interest rate of 4.5%.

Q: Ann borrowed $2,239 for 3 months. If the loan's annual simple discount rate was 47.5%, what was the…

A:

Q: lisa borrowed $6,300 from the bank, If she has already paid 2/7 of the loan, what is the remaining…

A: Given: lisa borrowed $6,300 from the bank and she has already paid 2/7 of the loan.

Q: You need a home loan of 95000 after your down payment.how much will your monthly house payment be if…

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Q: Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in…

A:

Q: A loan of $2000 was made at 5.5% for four months.

A: Introduction: The FV formula assumes a gradual rate of growth and one direct payment that continues…

Q: Nicolas Cage borrowed $3,456 from his nephew to fund his new movie. Eight months later, he paid back…

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Q: Yu-Feng Liang bought a used car for $8000. He made a down payment of $1000 and paid off the balance…

A: Value of Down Payment = $1000 Monthly payment of $202 for 48 months Total Payment made by Yu-Feng…

Q: Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the bank uses the ordinary…

A:

Q: Alicia borrowed $7,500 at 6% ordinary interest for 180 days. After 50 days, she made a partial…

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Q: Mike deposited on March 12, 2020 at 10.5% simple interest. On September 8, 2020, the fund…

A:

Q: Colleen has an offer to buy a car with a sticker price of $25,900 by paying $460 a month for 72…

A:

Q: Reina borrowed 1,200,000Php for the purchase of the car. If her monthly payment is 31,000Php or a…

A:

Q: Mr. Sun borrowed $15,600 for 54 months at simple interest to pay for a new swimming pool. If Mr. Sun…

A: Given, P=$15600 T=54/12=4.5yrs Rate=R

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: Sutton needs to replace the windows in her home. Installed they will cost her $2,500 cash. She plans…

A: Given data is : Cost of installation is $2500 Down payment is $1000 Monthly payment is $95  for 19…

Q: Your credit union offers to finance a $6000 conventional loan at 4% to be repaid in four years of…

A: Here we have,  The loan amount = $6000 rate r=4%12=412×100=0.0033 Time t = 4 years  Number of the…

Q: 5. Ahmed borrowed $450 from his credit union to buy a copier. If the interest rate is 9.9% and he…

A: Interest= p×r×t100, where p is the principal amount, r is rate of interest and t is time in years,…

Q: Harry had an unpaid balance of $2481.23 on his credit card statement at the beginning of April. He…

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Q: You will have a 350,000 mortgage for 30 years at the rate of 2.39%. What will your monthly payment…

A: We will find out the required monthly payment.

Q: Mr. Smith borrowed $26,000 to purchase stock for his baseball card shop. He repaid the simple…

A:

Q: Adrianna has a term loan that she still owes $6,799.14. The annual interest rate on this loan is…

A: Topic - loan and interest payments

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A: image is attached

Q: To buy a laptop, Jihyo borrowed Php 38,000 at 8% simple interest. How much does she have to pay back…

A: When the interest is simple, then the formula used is A=P(1+rt) , where, A is the final amount, P is…

Q: Gabrielle purchased furniture for $3,500.00 and received an invoice dated May 5, 2011 with terms…

A: We know that, Cash discount refer to an incentive that a seller offers to a buyer in return for…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A:

Q: Melissa Hernandez received an 8-year subsidized student loan of $28,000 at an annual interest rate…

A:

Q: A homeowner has a mortgage payment of $995.60, an annual property tax bill of $589, and an annual…

A: The given data is: A homeowner has a mortgage payment of $995.60 The annual property bill is $589 An…

Q: A graduating college student owes $41,866 for a student loan. The loan charges an APR of 4.2%. What…

A:

Q: Mary took out a loan for $46,000 for her daughter's wedding. She can borrow the money from a bank…

A: To determine the monthly payment if the loan amount is $46000 and interest rate is 6.25% and the…