A man receives 125,000.00 credit for his old car when buying a new model costing 375,000.00. What cash payment will be necessary so that the balance can be liquidated by payments of 12,500.00 at the end of each month for 18months when interest is charged at the rate of 6% compounded monthly?

Q: Jomai borrowed P6,666.00 to be paid after 2.5 years with interest at 15% compounded semiannually and…

A: Given: Jomai borrowed P 6666.00 for t=2.5 years and the interest rate 15%(compounded semiannually),…

Q: A student wants to save up to purchase a P105,000 property in cash at the end of 5 years. If he…

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Q: What amount must be set aside now to generate payments of $30,000 at the beginning of each year for…

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Q: A debt of $7000 is to be amortized with 8 equal semiannual payments. If the interest rate is 10%,…

A: The amortization formula is given by R=P i1-(1+i)-n where R is the periodic payment for the borrowed…

Q: The sale of a property provides for payments of $6,000 due at the beginning of every three months…

A: Quarterly payment =$6000 Quarterly rate =2.266917% The effective rate for 3 months 1+0.09123 Number…

Q: The terms of a single parent's will indicate that a child will receive an ordinary annuity of…

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Q: If Nerissa’s savings deposit yields 5%compounded quarterly, should shechange her investment to a…

A: According to the question we have to check the net multiplying factor.

Q: What interest rate was applied if a loan of P54, 300 will amount to P83, 000 after 2 years and 6…

A: We need to find the interest rate applied if a loan of P54, 300 will amount to P83, 000 after 2…

Q: Suppose you borrow $7,500 from a bank that charges 4% interest compounded monthly. How much will you…

A: From the given information, it is observed that the Principal is P = $7500, the rate of interest is…

Q: No payments were made on a $2,598 loan during its three-year term. What was the annually compounded…

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Q: How much should be deposited in an account paying 6% interest compounded monthly in order to have a…

A: For compound interest, we use this formula: A=P1+rnnt A is the final amount of money P is the…

Q: A business must raise $57,000 in 5 years. What should be the size of the owners’ quarterly payment…

A: ANSWER IS AS BELOW:

Q: A payment of $13,675 is due in 2 year, $16,500 is due in 5 years, and $8,200 is due in F years. What…

A:

Q: A landlord needs to update a rental house due to it's age, so it can be habitable again. If he has…

A: Given: Monthly payment PMT = $1,400.00 Rate of interest = r = 3% = 0.03 Number of years = t = 2…

Q: A debt of $9000 is to be amortized with 10 equal semiannual payments. If the interest rate is 5%,…

A: Note that, here P = $9000, r = 0.05, and t = 5 years (since 10 equal semiannual payments).…

Q: A man purchases a $2000 diamond ring for a down payment of $200 and monthly installments of $88 for…

A: Given: Cost price of diamond ring, P = $ 2000 Down payment amount = $ 200 Monthly installment = $88…

Q: Today, Lucia made a down payment of ₱125,000.00 for the purchase of a new automobile. If she is…

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Q: A payment of $2,870 was due three years ago, and a payment of $1,600 is due today. What single…

A:

Q: A debt of $9000 is to be amortized with 6 equal semiannual payments. If the interest rate is 7%,…

A: A debt of $9000 is to be amortized with 6 equal semiannual payments. If the interest rate is 7%,…

Q: Find the lump sum deposited today that will yield the same total amount as payments of $14,000 at…

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Q: A payment of $750 is due in 3 years, and $5,100 is due in 5 years. What single payment made today…

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Q: When must an obligation of P3,483 be made  to extinguish a loan of P3,000 which bears interest at 4%…

A: Let x be the number of days after which an obligation of P3,483 is to be made to extinguish a loan…

Q: A firm needs to replace most of its machinery in 4 years at a cost of $550,000. The company wishes…

A: Given - A firm needs to replace most of its machinery in 4 years at a cost of $550,000. The company…

Q: What lump sum must be invested at 10%, compounded monthly, for the investment to grow to $65,000 in…

A: We have to find a lump sum that must be invested at 10%, compounded monthly, for the investment to…

Q: If you take out a 5 year loan of $8000 at 6% interest compounded monthly, then what will be each…

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Q: An employee is entitled to a 10 yearly grant of 25,000 pesos each starting at the end of the…

A: In  the question it is given that an employee is entitled a 10 yearly grant of 25,000 pesos starting…

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: A debt of $8000 is to be amortized with 10 equal semiannual payments. If the interest rate is 9%,…

A: Given the debt amount $8,000. Number of payments is 10 equal payments (Semiannually). Rate of…

Q: A debt of $5000 is to be amortized with 6 equal semiannual payments. If the interest rate is 9%,…

A:

Q: What is the cash value of a lease requiring payments of $1,362.00at the beginning of every year for…

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Q: What lump sum do parents need to deposit in an account earning 12%, compounded monthly, so that it…

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Q: A payment of $14,575 is due in 1 year, $16,500 is due in 5 years, and $8,300 is due in 6 years. What…

A: Please refer to the image below

Q: A loan, amortized over 5 years, is repaid by making payments of $600 at the end of every month. If…

A: Loan payment formula: P=PMT[1-(1+rn)-ntrn] where,p=principaPMT=payment r=APR t=number of year…

Q: In order to have a fund of 1,000,000 at the end of 12 years, equal deposits every six months must be…

A:

Q: A company estimates that it will need $161,000 in 18 years to replace a computer. If it establishes…

A: Use formula of compound interest

Q: A debt of $8,800 is to be amortized with 8 equal semiannual payments of $1,417.12. If the annual…

A: SOLUTION-

Q: A couple believes they can afford a monthly house payment of $1,700 and would like a 30-year…

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Q: How much should a $10,000 facevalue, zero-coupon bond, maturing in 10 years, be sold for now if its…

A: Face value =$10000number of years, n=10rate of interest, r=8%=8100=0.08

Q: If a loan P120, 000.00 is to be amortized for 2 years at 12.5% interest compounded monthly, how much…

A: The monthly payment amount can be defined as follows:

Q: A payment of $31,000 is due today. What three equal payments, one in 2 years, one in 4 years, and…

A: We need to find payment.

Q: The managers of a pension fund have invested $1.5 million in U.S. government certificates of deposit…

A:

Q: A payment of $1,900 is due in 3 years, and $3,800 is due in 5 years. What single payment made today…

A: We want to find the amount he want to pay now

Q: Suppose a state lottery prize is worth 7 million is to be paid in 10 payments of $700,000 each at…

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Q: A corporation established a sinking fund to discharge a debt of $150,000 in 7 years. If deposits are…

A: Total debt to be paid = 1,50,000$ in 7 years  Interest = 5.2% compounded yearly Amount of each…

Q: A debt of $9000 is to be amortized with 8 equal semi-annual payments. If the interest rate is 8%,…

A: