Gabriella wants to buy a house costing $95,000, and she has $12,000 for the down payment. She can arrange a 25-year mortgage at 6½% interest with monthly payments. 1. What is the unpaid balance after the fifth year?

Q: A teenager receives $50 for his birthday, and his sister wants to borrow it from him for 15 weeks.…

A: The formula for simple interest is I= Prt Where I= Interest earned, P=Principal amount, r=rate of…

Q: Martin wants to buy a new bedroom set that costs $1,829 including tax. Unfortunately, he doesn’t…

A: Martin wants to buy a new bedroom set that costs $1,829 including tax. Unfortunately, he doesn’t…

Q: oe Clemente bought a stereo costing $600 with $200 down and 10% add-on interest to be paid in 18…

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Q: 14) Ben wants to buy a $95,000 house He plans to pay $15,000 down and make monthly payments for 25…

A: simple interest formula:S.I=pnr100 p=principal amountn=nummber of yearsr=rate of interest

Q: Ann and Tom wants to establish a fund for their grandson's college education. What lump sum must…

A: let they deposit    $ Po P=Po1+rnntP= final amount Po= initial Amount r= intrest raten=number of…

Q: Andre takes out a student loan for his first year of civil engineering. The loan agreement states…

A: Given query is to find the loan amount.

Q: Find the mortgage payment for a 15 year loan of 224,900$ at an annual interest rate of 8.05%. Round…

A: Given Pmt=Mortgage payment P=loan amounts=$224900 r=rate per period=0.0805 n=number of payment=15

Q: Peggy made a down payment of $400 toward the purchase of new furniture. To pay the balance of the…

A: Step-by-step solution Step 1  We have to find the purchase price of the furniture (P=?)…

Q: What are the monthly payments on a mortgage of $60,000 at 9% interest if the loan is to be repaid in…

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Q: Nathan and Haley Scott are buying a $300,000 house and putting 20% down. The bank is offering a…

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Q: Jeffery Wei received a 7-year non-subsidized student loan of $31,000 at an annual interest rate of…

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Q: Trevor plans on getting a $222,000 loan for 30 years to purchase a home lender a offers him a 5%…

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Q: 2. Donald wishes to borrow $250,000, and he qualifies for a rate of 3.29%. Find the monthly loan…

A: The compound interest formula is given by; CA=P1+r100t Where; CA→Compounded amountP→Principel…

Q: Jane needs to pay for car repairs and, to do so, decides to pawn her bicycle. The pawn broker…

A: The simple interest, I is calculated using the formula, I=Prt , where, P is the principal amount, r…

Q: 14. Miguel Salto signed a simple discount note for $4500 for 240 days at a rate of 11%. Find (a) the…

A: Please see the explanation below

Q: Mychael wants to buy some new exercise equipment for his home gym for 377,000 financed and in annual…

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Q: Three years ago, Pete took out a loan of $55,000.  The loan was taken out for 10 years with an…

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Q: 4. Joe buys a new laptop for $675 and pays for it over two years with 3.% simple annual interest.…

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Q: Steven wants to buy a new couch priced at $705 and agrees to pay for it over two years with a…

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Q: If John wants to retire with $10,000 per month, how much principal is necessary to generate this…

A: Given interest rate is 10% and expected monthly income after retirement is $10,000 This monthly…

Q: Salim wants to remodel his game room in 3 years. He estimates the cost to be $19317. Find the…

A: Use sinking fund formula.

Q: Dr. Gupta is considering a 30-year mortgage at 6% interest. She can make payments of $3500 a month.…

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Q: Mr. Wong’s daughter needs to borrow $1000 from him to buy her textbooks. He agrees  to the loan and…

A: This is a question related to simple interest concept. Based on the formula of simple interest we…

Q: Gary buys a house for $212,500. He puts 20% down and obtains a simple interest amortizied loan for…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Toni Torres wants to save $1,200 in the next two years to use as a down payment on a new car. If her…

A: Amount = $1200 Interest = 9% 2 years = 24 months

Q: Lily purchased a car for $52,400; she paid 20% of the cost as a down payment and financed the…

A: The compound interest formula for a principal amount of P for an interest rate of r% for t years…

Q: Using the formula A=P+I, calculate the maturity value of a simple interest, 125 day loan of $8650 if…

A: We we have to find out the value

Q: Jonathan wishes to buy a used Chevy Malibu for $12,500. He only has $1,000 for a down payment so the…

A: Simple interest is given by I=PTR/100

Q: Alan decides to buy a home. He takes out a mortgage of $400,000 with an interest rate of 4.6%.…

A:

Q: Salim wants to remodel his game room in 5 years. He estimates the cost to be $16166. Find the…

A: Given data set: Rate of interest = 3% Time period = Annuity term= 5 years Type of annuity= Ordinary…

Q: Gesky Industrial Products manufactures brushless blowers for boilers, food service equipment, kilns,…

A: Solution...

Q: Curtis bought a condominium for $319 000 and made a down payment of $64 000. The annual interest…

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Q: Larry invested $12,000 at an interest rate of 10.18% for 4 years. If the amortization schedule needs…

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Q: 2. The Smiths took out a $130,000, 30-year mortgage at an APR of 3.4%. The monthly payment was…

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Q: Marcel Thiessen purchased a home for $204,300 and obtained a 15-year, fixed-rate mortgage at 8%…

A: Solve the following

Q: Suppose you obtain a 25-year mortgage loan of $195,000 at an annual interest rate of 8.2%. The…

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Q: rt D: Home Depot sells a $1850 gas grill on the installment plan. The installment agreement includes…

A: The selling price of gas grill is $1850.  Installment agreement includes 20% down payment and 12…

Q: Jason takes out a car loan for $14,500 and is paying simple interest of 7%.  He finances the loan…

A:

Q: luis mahia purchases a porsche boxster for $45,600 and finances the entire amount at an annual…

A: Given Luis mahia purchases a porsche Boxster for  $45600 and finance the entire amount at an annual…

Q: Sandra buys a new car for $18,600. She puts 15% down and obtains a simple interest amortized loan…

A: Here, Car price= $18,600 Down payment=0.15 Annual rate= 6.25% Number of months= 5*12= 60 months

Q: Use the ordinary interest method to find the rate of interest that Valley Mountain Vineyards pays on…

A: Given information Principal amount P=$5,600 Time t=235 days ⇒t=235360 years Amount of interest…

Q: Janice paid the bank $1,200.00 interest for a 9-month loan at 3.35%, so how much did she borrow…

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Q: Aamon is buying a Honda car and takes out a 4-year simple interest car loan for $15000 at a 3%…

A: Given:- Aamon is buying a Honda car and takes out a 4-year simple interest car loan for $15000 at a…

Q: Jeffery Wei received a 7-year non-subsidized student loan of $30,000 at an annual interest rate of…

A: Given: Loan Amount=$30,000 Annual interest rate=i=5.4%=0.054 Finance period=7 years Loan is non…

Q: (a) What is the rebate fraction of a 36 month loan paid off after the 15th payment ? (b) what is…

A: (a) Consider that a loan for 36-month is paid off after the 15th-payment. Compute the remaining…

Q: Jeffery Wei received a 6-year non-subsidized student loan of $30,000 at an annual interest rate of…

A: Given problem Given that   Jeffery Wei received a 6-year non- subsidized student loan of $30,000…

Q: ABC Corp. recently obtained a 30-year (360-month), P250,000 mortgage with a 9 percent nominal…

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

A: