A sailboat costs 24195. You pay 15% down and amortize the rest with equal monthly payments over a ​12 year period. If you must pay 6.9% compounded​ monthly, what is your monthly​ payment? How much interest will you​ pay?

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Q: After 10 years, you have made 1/3 of the payments. Why isn't 1/3 of the loan balance paid off?

A: We can solve it mathematically and show that after 10 years only a partial principal amount is paid…

Q: What is the amount of interest of a loan 20,000 at 6% compound interest for 3 years?

A: We will find out the required value.

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Q: A newly married couple bought a house for P175,000. They paid 20% down and amortized the rest at…

A: A newly married couple bought a house for P175,000. They paid 20% down payment and amortized the…

Q: A loan of 51000 dollars at 7.8 percent interest compounded annually is amortized with 11 equal…

A: We will find out the required value of equal size of payment.

Q: to have that amouni WiieTL I3 10. Berna borrowed from a cooperative Php 180 000 to be paid in 2 and…

A: Solution:

Q: Basim borrows OMR 3580 for 4 months at a simple interest rate of 6% per year.Determine proceeds. a.…

A: Consider the provided question, Basim borrows OMR 3580 for 4 months at a simple interest rate of 6%…

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A: Using formula A=P+T

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Q: The father has just donated $25,000 to a church. His son would like to donate an equivalent amount,…

A: Given;  Principal =$ 25000 Time = 5 years  Rate = 8.2%.

Q: The interest rate on a GIC is 4.50% compounded quarterly. What is the purchase price of the GIC if…

A: Find purchase price of GIC

Q: A house costs $350,000. You pay a 15% down payment and amortise the rest with equal monthly payments…

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Q: 12. Miko borrowed P25,000 at 10% annual simple interest rate. How much should he pay after 3 years…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: A) if you deposit 4000$ into an account paying 6% annual compound interest monthly, how much will be…

A: As per the company guidelines i am solving the first question please resubmit the question for…

Q: A ripped motorcycle can be purchase for P10,000 cash or an installment basis with P2000 down payment…

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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 sailboat costs $27,434. You pay 15% down and amortize the rest with equal monthly payments over a…

A:

Q: Suppose you buy a home and finance $285,000 at $2,293.17 per month for 30 years. What is the amount…

A: Given that you buy a home and finance $ 285,000 at $ 2293.17 per month for 30 years. We have to find…

Q: Calculate the simple interest due (in dollars) on a 60-day loan of $1,600 if the annual interest…

A: Given

Q: . Find the simple interest (I = Prt) of $10,000 invested for 6 years at an annual simple interest…

A: Definition: simple interest If an amount of money,  P , the principal, is invested for a period of…

Q: A person borrowed 500,000 pesos at an interest rate of 18% compounded monthly. Monthly payments of…

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Q: If you purchase a $600 item and pay for it with monthly installments for 2 years, the monthly…

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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: What interest would be charged on a loan of $3000 at 4% interest for 1 ½ years?

A: Given information,

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Q: What cash payment is equivalent to making payments of ​$1536.00 at the end of every six months for 8…

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Q: If you deposit 4000$ into an account paying 6% annual compound interest monthly, how much will be in…

A: NOTE: Refresh your page if you can't see any equations. . P=4000 r=6%=0.06 n=12 for monthly compound…

Q: A bond with a face value of $6000 and a 4.4% coupon has a 5 year maturity.  Find the annual interest…

A: image is attached

Q: Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 9%…

A: Principal (Loan Amount) = $500 Rate of interest = 9% Amount (Loan repaid) = $537.5 We have to…

Q: Suppose you make a single deposit of $8000. Calculate the amount of money you will have in the…

A: Given query is to find the amount after 5 years.

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Q: Mary has agreed to loan Karen $1,125.37 for 5 years at 7%% simple interest. How much will Karen…

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Q: A mutual fund pays a yearly interest of 3.4%. If you invested $7,000 for 5 years, what is the value…

A: Given, Invested amount=7000$ rate of interest= 3.4% No of years=5  Investment after 5 years =?

Q: Suppose that you borrow $2000.00 from a friend and promise to pay back $4150.00 in 5 years. What…

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Q: payday loan store charges $50 for a one-month loan of $180. What annual interest rate is this…

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Q: if a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much should…

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Q: If you owe $2000 on a credit card with 18% annual interest compounded monthly, how i) much money…

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Q: What is the present value of an annuity that pays ? per month for 10 years, where ?= 2055 if money…

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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 new roof on a house will cost $10,000. It will be installed in 20 years. If the interest rate is…

A: Given data: The cost of a new roof will be $10,000. The new roof will be installed in 20 years. The…

Q: If $5,700 is loaned for 16 months at a 12% annual rate, how much interest is earned?

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Q: If $1000 is borrowed and the interest after 24 months is $300, what is the annual interest rate for…

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Q: A recent graduates student loan total $15,000. If these loans are at 4.6%, compounded quarterly, for…

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Q: If a bank pays 16% compounded quarterly, how much should be deposited now to have $1200 in 6 years…

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Q: 1. At 10% interest rate, how much should you invest today to be able to withdraw Php10,000.00…

A: Given Future value=10000 Yearly invest rate (r) =10%=0.10 Total number of years (n) =10

Q: A college student receives an interestfreeloan of $8250 from a relative. The student will repay$125…

A: A college student receives an interest free loan of $8250 from a relative. The student will repay…

Q: A loan of P 50,000 is-to be amortized by paying quarterly in 1 year. If money is worth 10%…

A: Since you have posted multiple questions and we can answer one question. So, answered question…

Q: Find the length of the loan in months, if $200 is borrowed with an annual simple interest rate of 9%…

A: Given, $200 is borrowed with an annual simple interest rate of 9% and with $212 repaid at the end of…