A motorcycle costs ₱ 120,000.00. A young architect availed one but by installment payments. If the agreed interest is 1.5% per month. In how many months will the young engineer finish the contract is he pays ₱ 3,000.00 a month?
Q: A house is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…
A: Price of house $1,00,000 Less: Down payment $30,000 Loan Amount $70,000…
Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…
A: The number of months required to pay the amount can be calculated with the help of NPER function of…
Q: A house costs $141,000. It is to be paid off in exactly ten years, with monthly payments of…
A: An amount of annual percentage which is charged from borrowers of the loan and paid to the…
Q: Dale Cooper just signed an annual contract for $100 a month parking garage (twelve payments of…
A: The present value of the contract can be calculated as:
Q: You want to buy a new sports car from Muscle Motors for $84,000. The contract is in the form of a…
A: Present Value = P + P * [ { 1 - ( 1 + r )-(n-1) } / r ] P = Periodic Payment r = rate per period n…
Q: Citra expects to receive RM50,000 in 2 years. Her opportunity cost is 10% compounded monthly. What…
A: The present value is the value of the sum received at time 0 or the current period. It is the value…
Q: You want to buy a new sports car from Muscle Motors for $71,000. The contract is in the form of a…
A: Cost of Sports Car (PV) is $71,000 Time Period is 72 months Annuity Due Interest Rate is 6.9%…
Q: Miguel purchased a hot tub costing $5,030 by taking out an installment loan. He made a down payment…
A: Amount of loan = Purchase cost - Down payment = $5,030 - $1300 = $3730
Q: You want to buy a new sports car from Muscle Motors for $46,000. The contract is in the form of an…
A:
Q: A house costs $144,000. It is to be paid off in exactly ten years, with monthly payments of…
A: The Annual Percentage Rate(APR) of the loan can be calculated using the RATE function in Excel.
Q: house costs $350,000. You pay a 15% down payment and mortise the rest with equal monthly payments…
A: Given: Cost of house = $350,000 Down payment = 15% Years = 20 years Interest rate = 8.4%
Q: A $40,000 new car loan is taken out with the terms 12% APR for 48 months. How much are monthly…
A: New car loan = $40,000 APR = 12% Time period = 48 Months
Q: An Engineer promised to pay P 400,000 at the end of 120 days. He was offered a 12.5% discount if he…
A: In this we have to calculate the discount on both and from that we can get the simple interest…
Q: Miguel purchased a hot tub costing $5,090 by taking out an installment loan. He made a down payment…
A: The formula for the calculation of APR is as follows: APR=Fees+InterestPrincipalTime period×12
Q: Your company agreed to pay a maintenance contractor $ 3.677 as the first payment at the end of the…
A: Annuity refers to series of equalized payments that are either made start or end of definite period…
Q: TA Corp. has a consulting contract with a firm that states that he will receive annual payments of…
A: We need to use present value of annuity due(payment due at beginning of year) formula for…
Q: If the duration is 4 month and the interest rate is 1 percent per month. The retainage is for the…
A: Time value tells that money received today has more value than that of receiving the exact value…
Q: A ten-bagger concrete mixer can be purchased with a down payment of P18,000 and equal installments…
A: Value of loan is nothing but the present value of annuity, where the cashflows are the payments of…
Q: A car can be purchased with monthly installments of 8,500 and a down-payment of 115,000 for 48…
A: Monthly installment (M) = 8500 Down payment (D) = 115000 n = 48 months r = 12% per annum = 1% per…
Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…
A: The number of Monthly Payments required can be calculated with the help of NPER function of Excel.…
Q: A ten-bagger concrete mixer can be purchased with a down payment of P18,000 and equal installments…
A: The equivalent cash price of mixer is the sum of down payment and present value of annuity.
Q: If you buy a computer directly from the manufacturer for $2,509 and agree to repay it in 60 equal…
A: This is the case of present value of annuity. Annuity is equal stream of cashflow at regular…
Q: A new furniture set costs $ 2900. If you make a down payment of $ 400 and finance the rest at a rate…
A: Cost of furniture = $ 2900 Down payment = $ 400 Mortgage amount (PV) = 2900-400 = $ 2500 Interest…
Q: Michael had to make a payment of $2,750 in 10 months and $2,300 in 20 months, to a raw material…
A: Payment in 10 months (P1) = $2750 Payment in 20 months (P2) = $2300 Let the settlement payment in 4…
Q: You want to buy a new sports car from Muscle Motors for $44,000. The contract is in the form of an…
A: The monthly payment can be calculated with the help of present value of annuity due function.
Q: A new furniture set costs $ 2100. If you make a down payment of $ 300 and finance the rest at a rate…
A: In this question the monthly payment is to be find for the loan. Loan can be calculated by deducting…
Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…
A: The number of months required to pay off the amount can be calculated with the help of NPER function…
Q: You want to buy a new sports car from Muscle Motors for $79,000. The contract is in the form of a…
A: Price of a new sports car is $79,000 Time period is 48 months Interest rate is 7.3% To Find:…
Q: A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…
A: The number of months required to pay for the building can be calculated with the help of NPER…
Q: The cash price of a motorcycle is Php325,000. A fixed amount is to be paid at every end of the…
A: Cash price (PV) = Php 325,000 Interest rate = 9% Monthly interest rate (r) = 9%/12 = 0.75% Period =…
Q: The price for a deluxe bunkbed is $6,176.00, with $215.00 for shipping. I have the option to pay…
A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…
Q: Dave Krug finances a new automobile by paying $6,500 cash and agreeing to make 40 monthly payments…
A: Present value: It refers to today’s value of the money that will be received by an investor at some…
Q: A car costs $19,900. Alternatively, the car can be leased for 6 years by making payments of $251 at…
A: Lease monthly payment (L) = $251 Lease final payment (F) = $5692 Interest rate = 6% semiannually…
Q: A house costs $142,000, It is to be paid off in exactly ten years, with monthly payments of…
A: The annual interest rate that is charged by the lenders or at which the investors earn additional…
Q: The length of his lease is 5 years. If the average charge for each car repair by his shop is P1,000.…
A: Answer with all calculation are as follows:
Q: You decide to buy a car for $16,000.00 and decide to make payments of $700 each month. If the loan…
A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…
Q: Engr. Dimaamin bought a concrete mixer costing P2,000,000 with a down payment of P600,000. He paid…
A: Here it is pertinent to note that the present value of all the payments made in order to purchase…
Q: You are considering purchasing a piece of industrial equipment from the U.S.A. that costs S30,000.…
A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…
Q: A contract will pay $2,000 at the end of each year for three years and the appropriate discount rate…
A: As per the time value of money, a dollar is worth more today than the same dollar in the future.…
Q: Chris Svenson is trying to decide whether to lease or purchase a new car costing $18,000. If he…
A: Using the analysis form as below, cost of leasing and purchase has been derived.
Q: 2. A lathe for a machine shop costs 600,000 if paid in cash. On the installment plan, Engr. Dela…
A: A deferred annuity is the annuity plan under which payment is accumulated for a certain period and…
Q: An engineering practitioner can lease a fully equipped computer and color printer system for $800…
A: Lease means get the right to use the particular asset for a definite time period by paying…
Q: A house costs $148,000. It is to be paid off in exactly ten years, with monthly payments of…
A: Following details are given in the question: Cost of House (Present Value) = $148000 Monthly payment…
Q: A machine can be bought with an initial payment of $7,000 and equal installments of $500 each paid…
A: The question gives the following information: Installment 500 Period 12 Rate 11%
Q: You want to buy a new sports car from Muscle Motors for $87,000. The contract is in the form of a…
A: Here, To Find: Monthly payment =?
Q: The price for a building was $ 125,000. How many months will it take to pay for the building if $…
A: given, price of building=$125000 advance=$25000 A=$1000 per month rate=9% m=12
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- The president of a growing engineering firm wishes to give each of 20 employees a holiday bonus. How much needs to be deposited each monthfor a year at a 12% nominal rate, compounded monthly, so that each employee will receive a $2,500 bonus? a. $2,070 b. $3,840 c. $3,940 d. $4,170.A construction firm wishes to give each 80 employees a holiday bonus. How much is needed to invest monthly for a year at 12% nominal interest rate, compounded monthly, so that each employee will receive a P5,000.00 bonus?An employee is earning P 18,511 a month and he can only afford to purchase a car which will require a down payment of P 85,000 and a monthly amortization of 30% of his monthly salary. What would be the maximum cash value of a car he can purchase if the seller will agree to a down payment of P 82,000 and the balance payable in four years at 18% per year payable in monthly basis. The first payment will be due at the beginning of the first month.
- A building is priced at $250,000. If a down payment of $25,000 is made and a payment of $5000 every month thereafter is required, how many months will it take to pay for the building? Interest is charged at a rate of 9% compounded monthlyA ten-bagger concrete mixer can be purchased with a down payment of P18,000 and equal installments of P1200 each paid at the end of the month for the next 14 months. If money is worth 15% compounded monthly, determine the equivalent cash price of the mixer.An employee is earning P 18,000 a month and he can only afford to purchase a car which will require a down payment of P 85,000 and a monthly amortization of 30% of his monthly salary. What would be the maximum cash value of a car he can purchase if the seller will agree to a down payment of P 85,000 and the balance payable in four years at 18% per year payable in monthly basis. The first payment will be due at the end of the first month.
- The price for a building was $ 125,000. How many months will it take to pay for the building if $ 25,000 is paid in advance and then $ 1,000 each month? Consider the compound interest rate of 9% per month.A project contractor needs P500,000 for his operation. One financial institution is willing to lend him the money for one year at 12.5% interest per annum (discounted). Another lender is charging 14%, with the principal and interest payable at the end of one year. A third financier is willing to lend him P500,000 payable in 12 equal monthly installments of P46,000. Which offer is best for him?Dale Cooper just signed an annual contract for $100 a month parking garage (twelve payments of $100). He considers his opportunity cost of money to be 12% annually for discounting. What is the present value of the parking contract?
- Rudy Anne wants to buy new farm equipment costing P350,000 making a down payment of P50,000. The remainder is to be paid at the end of each month for five years at 15% compounded monthly. Find the amount needed for monthly payments.You want to buy a new sports car from Muscle Motors for $84,000. The contract is in the form of a 60-month annuity due at an APR of 7.55 percent. What will your monthly payment be?A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every month thereafter is required, how many months will it take to pay for the building? Interest is charged at a rate of 12% compounded monthly A. 100 B. 70 C. 142 D. 121