For the best terms on a loan or credit card, you need a credit score above 700. To achieve this, start establishing credit now. Pay all of your bills on time. In addition, use only one-third of your available credit limit and pay off your revolving balance(s) each month.  Abby has excellent credit. She wants to purchase a piece of equipment for her business and was offered 6% for

Q: Having maxed out one credit card, the consumer is tempted by an offer of a second credit card (from…

A: A loan is a debt amount that represents funds borrowed by one person from another person at a…

Q: You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing.…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: E-Loan, an online lending​ service, recently offered 48​-month auto loans at 4.2% compounded monthly…

A: A loan is an agreement between two parties where one party borrows a sum of money in return for a…

Q: You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing.…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: An account executive at Santander branch CETYS, receives a deposit from an important client-student,…

A: The future value of a deposit is the value that a deposit has after it has earned interest for a…

Q: (a) A savings and loan association has offered her a 10-year small business loan at an annual…

A: Loan amortization refers to a schedule which is prepared to shows the periodic loan payments, amount…

Q: A small business is paying off a machine loan to the bank. Knowing that the installment is R$ 2,000…

A:

Q: 2. A local bank is offering a promotional deal where if you open a bank account for at least $1000,…

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

Q: Solve the following problems by showing your formula and computation: 1. what is the simple…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Data given: 31 day billing cycle 10/1 Previous balance    $ 1,177.00 10/3 Credit $ 66     cr…

Q: lie has a credit card with an APR of 27.99% and a current balance of $9,325.65. She wants to pay it…

A: Given information : Annual percentage rate 27.99% Current balance $9,325.65 Time period…

Q: Hamad is saving to establish a small business. He deposits a fixed amount of money every month in a…

A: Annuity refers to series of equalized payments that are made either at start or end of specific…

Q: ou need a new car and the dealer has offered you a price of $20,000​, with the following payment​…

A: Option A - pay cash and receive a $2000 rebate. Cash to be paid = $20,000 - $2000 = $18,000 Option…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Interest Rate = 6% APR Previous Balance = $1,173 Calculation of Number of days between is as follow:…

Q: You are the accounting manager for Kool Ragz, Inc., a manufacturer of men's and women's clothing.…

A: We need to calculate interest for each offer and calculate the rate of interest charged in the part…

Q: A student has a job that leaves her with $300 per month in disposable income. She decides that she…

A: Present value factor or present value interest factor is widely utilized to forecast the present or…

Q: Answer the following questions and show all working using a financial calculator. Do NOT use excel:…

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

Q: Brandon has reached his credit card limit of $5000.00. Using an online calculator, Brandon…

A: When an investor borrowing money for the purpose of meet the obligations then, the cost that charged…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Here, APR is 9%

Q: Mohammed got a $500 cash advance using his credit card, which charges 21.9%, compounded daily. He…

A: Credit card is one of the loan source through which a person can spend money without actually having…

Q: 1. Glen received a $2,250 loan from the bank. After six months, he paid back an additional of $145…

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

Q: Otis Hopkins recently graduated from college and is evaluating two credit cards. Card A has an…

A: The selection of a credit card depends on the two factors, the type of spender whether big or small…

Q: You just received your first credit card and decided to purchase a new Apple iPad. Youcharged the…

A:

Q: Lokalalo has plenty of customers, who because of the nature and price of the work these customers…

A: Lokalalo has plenty of customers, who because of the nature and price of the work these customers…

Q: Which is the answer? show steps with your formulas. Thank you

A: Effective interest rate for Saul would be the total amount above the loan amount he is paying…

Q: Julie has a low credit rating, plus she was furloughed from her job 2 months ago. She has a  new job…

A: The nominal interest rate is the rate of interest before taking inflation into consideration.

Q: Today the average undergraduate student is responsible for paying off a $3,500 balance on his/her…

A: APR on credit card: It is the rate that converts the credit card charge into a daily periodic rate.

Q: • • If you are saving money in a bank, which of the following is better for you? Bank A, which…

A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…

Q: E-Loan, an online lending service, recently offered 36-month auto loans at 3.9% compounded monthly…

A: Using excel PV function

Q: Karen Wilson thinks that she needs to borrow $7,600 for 2 years. She doesn’t have a very good credit…

A: The interest paid to the lender can be calculated with the help of future value of annuity function.…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: The amount due at month-end: The amount due at month-end can be computed by adding all the charges…

Q: To help open up a wine bar, Yoko borrowed money from her credit union. She took out a personal,…

A: 1) Fixed Monthly Payment = ( P x r)  x ( 1+ r)n/ [ ( 1+ r)n - 1 ] R = 6.25%/ 12 = 0.516% = ( 40500 x…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Finance Charge is the amount of interest being charged on the borrowed amount from the lenders.

Q: Problem 5: An account executive at Santander branch CETYS, receives a deposit from an important…

A: The future value is the accumulated value of a deposit along with interest. Annual deposits are the…

Q: Use this information for questions 9 to 12: You are put in charge of starting a credit card business…

A: “Since you have posted multiple questions, we will solve the first question for you. To get the…

Q: In order to start a small business, a student takes out a simple interest loan for $9000.00 for 9…

A: To determine the simple interest and the future value of the loan.

Q: You need a quick loan and decide to use the local "payday" loan office. The loan is for $800 and you…

A: FV = PV*(1+r)^n, Where, Given that Loan obtained (PV) = $ 800 Loan amount paid (FV) = $ 1025…

Q: You need a new car and the dealer has offered you a price of $20,000​, with the following payment​…

A: The net present value is a method of discounting cash flows and adding them to find the value of the…

Q: Jennifer Kaufman bought a used Toyota Prius for $16,500. She made a $4,500 down payment and is…

A: First of all we will need to find the loan balance. Loan amount = Car price - Down payment = $16,500…

Q: A new engineering graduate who started a business borrowed money for 1 year. The amount of the loan…

A: When a person is in a need of short-term borrowings he can take the amount short term borrowing by…

Q: Alex decided to purchase a laptop amounting Php 44, 999.00 using home credit. The agents told him to…

A: Down payment is the initial amount that the buyer is ready to give to the seller as a portion of the…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Given: APR = 6%   Formula for finance charges= (Previous Balance - Credit + Charges - Payment)  x…

Q: You plan on purchasing a car for $28,500. The car dealer tells you that if you finance it through…

A: Here,

Q: In order to start a small​ business, a student takes out a simple interest loan for ​$2000.00 for 6…

A: Future Value = Present Value (1+ rt) Present value of loan =  $2000 Rate of interest = 7% T = 6…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Given:

Q: Clark and Lana take a 30-year home mortgage of $122,000 at 7.4%, compounded monthly. They make their…

A: Loans are to be paid by the monthly payment that carry the payment for interest and also payment of…

Q: Jennifer Kaufman bought a used Toyota Prius for $17,500. She made a $2,500 down payment and is…

A: Price of Toyota Prius = $ 17,500 Down payment = $ 2,500 Loan amount (PV) = 17500-2500 = $ 15,000…

Q: The Patel Company has several financial issues to solve. As the company’s Financial Analyst you have…

A: Effective annual rate It is referred to as the real return on any interest paying investment…