If you borrowed $200,000 to buy a house at 6% interest per year, compounded annually, and paid back the principal and interest at the end of 30 years, how much would you pay back? (Fill in the blank below and round your answer to 2 decimal places.) You would pay back $______.

Q: You invest $ 20.000 in a bank account to buy a house at annual interest rate 15 per year, compounded…

A: Given information: Present value is $20,000 Interest rate is 15% per year compounded monthly Number…

Q: You are investing $1,000 at 4% for thirty years. Over those thirty years, how much "extra" will you…

A: Simple Interest total maturity amount  = Principle * (1 + rate * Time)   Compound interest maturity…

Q: Suppose that 10 years ago you bought a home for $150,000, paying 10% as a down payment, and…

A: Given:

Q: Suppose that 10 years ago you bought a home for $170,000, paying 10% as a down payment, and…

A: Computation as follows:

Q: You invest $ 1.000 in a bank account to buy a house at annual interest rate 14 per year, compounded…

A: Present Value (Investment in bank)= $1,000 Annual Interest rate (r)= 14% per year compounded monthly…

Q: What is the total amount paid for principal and interest? (Round your answer to the nearest cent.) $…

A: Information Provided: Price = $475,000 Term = 30 years Interest = 5.54% Down payment = 25%

Q: You invest 10.000 dolar in a bank account to buy a house at annual interest rate 14 per year,…

A: Given: Investment = 10,000 Interest rate = 14% Years = 10

Q: You decide to buy a house costing $6,000,000. You pay $1,000,000 down, and the remainder will be…

A: Here, Value of House is $6,000,000 Down Payment is $1,000,000 Therefore, Loan Amount (PV) is:…

Q: suppose that 10 years ago you bought a home for $150,000, paying 10% as a down payment, and…

A: When a buyer buys goods from a seller and is not able to pay the entire amount at the time of…

Q: Suppose you buy a $40,000 car and you 'put down' $5,000 and finance the rest for 72 months at 3.75%…

A: Solution:- When a loan is taken, the amount can be repaid as a lump sum payment or in instalments.…

Q: Suppose you invest $190 a month for 6 years into an account earning 8% compounded monthly. After 6…

A: The following formula will be used:

Q: 1. A man has a loan of 50,000 in a bank that gives 12% simple interest. How much is the interest if…

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

Q: A businessman wants to have P500, 000 four years from now. What amount should he invest now if it…

A: Given information : Expected amount 500000 Interest rate for first two years 6% Interest rate…

Q: You bought a home for $150,000 and put down 10% and got a mortagage at an interest rate of 4.35% per…

A: We will make use of the PMT function in Microsoft Excel to determine the monthly payment on the…

Q: 4. You wish to purchase a house that costs $294,000, and the bank requires you to have 12% of the…

A: A down payment is an early stage payment made for a particular good purchased through financing.

Q: You decide to buy a house costing $400,000. You pay $100,000 down, and the remainder will be paid in…

A: Loans are a way through which individual finance their big expenditures. These types of loans help…

Q: will your hotel have at the end of the 10th year ($)?

A: Future value refers to the amount of a current cash flow at some future date based on the given…

Q: suppose that 10 years ago you bought a home for $150,000, paying 10% as a down payment, and…

A: The computation of down payment as follows: Hence, the down payment is $15,000.

Q: cial position, and you can pay off the loan in 240 equal monthly payments. Answer the following…

A: A loan is a type of debt that an individual or other entity incurs. The lender, who is typically a…

Q: You buy a $225,000 house and take out a loan that covers that amount which charges 4.5%, compounded…

A: Given data; Loan amount = $225,000 interest rate = 4.5% frequency of compounding = monthly Life of…

Q: You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: If I lend $40,000 to my friend at 8% per year simple interest, what compound interest rate would…

A: Given: Amount = $40,000 Interest rate = 8% Years = 10

Q: uppose you buy a home and finance $285,000 at $2,233.17 per month for 30 years. What is the amount…

A: Interest paid = total payment - financed amount

Q: Suppose you buy a home and finance $295,000 at $2,233.17 per month for 30 years. What is the amount…

A: Financing is the method through which an individual lowers the payable costs and expenses on a…

Q: Suppose you buy a home and finance $285,000 at $2,223.17 per month for 30 years. What is the amount…

A: Loan amount = $ 285,000 Monthly payment = $ 2223.17 Period = 30  Years Number of monthly payments =…

Q: Please use formula in solving.   You are interested in buying a house worth P1,200,000. You paid…

A: Since you have asked a question with multiple parts, we will solve the first 3 parts for you. Please…

Q: To buy an $180,000 condominium, you put down $30,000 and take out a mortgage for $150,000 at an APR…

A: The calculation is:

Q: Suppose you invest $180 a month for 6 years into an account earning 10% compounded monthly. After 6…

A: When the money is deposited or collected at a regular interval of time with the given interest rate,…

Q: Exercises in compound interest, no income taxes. To be sure that you understand how to use the…

A: Note: We’ll answer the first question since the exact one isn’t specified. Please submit a new…

Q: Suppose you invest $130 a month for 8 years into an account earning 10% compounded monthly. After 8…

A: Future value of annuity is the recurring payment at regular interval compounded at specified rate to…

Q: Suppose you loaned P200,000 from a local bank to be paid back uniformly in five years. How much will…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: ow $ 150,000 for a house with 10% down payment at 8% compound annual interest rate for 30 years,…

A: The given problem can be solved using PMT function in excel. PMT function computes installment…

Q: f you borrow 5000 USD at 5% simple interest annually for 8 years, how much will you have to repay at…

A: Interest means the extra amount which we received because of investment made and will be paid in…

Q: The buyer of a lot pays $50,000.00 cash and $10,000.00 every month for 10 years. If money is 8%…

A: Given:

Q: Suppose that 10 years ago you bought a home for $170,000, paying 10% as a down payment, and…

A: Down payment: Hence, the down payment is $17000. Mortgage loan: Hence, the mortgage loan is…

Q: The annual income from a rented house is $26,400. The annual expenses are $7200. If the house can be…

A: Present Value: It refers to the amount of money received today is having more worth than the same…

Q: You were able to sell a car worth 2,100,000, which would be financed by a bank. You told your buyer…

A: Interest rate charged is calculated by RATE function in excel. Commission from car dealer is paid on…

Q: Suppose that you borrowed $20k for 36 months to buy a car last year at an annual interest rate of 5%…

A: Monthly payment is the fixed amount of monthly payment made by the borrower against the loan. The…

Q: Suppose you invest $120 a month for 5 years into an account earning 8% compounded monthly. After 5…

A: The future value is an estimation of value received in future on the basis of periodic cash deposits…

Q: You borrowed $100,000 for a period of 30 years at fixed APR of 5.5% to buy an apartment.  What is…

A: Formula: Monthly payment = ( Present value of loan ) / [  ( 1 - ( 1 + r )-NT ) / r / n ] R =…

Q: You are buying a house for $200,000.00 with a downpayment of $40,000.00. The loan will be paid back…

A: An amortization table is a table that helps to compute the periodic payment, interest paid,…

Q: Suppose you buy a home and finance $265,000 at $2,223.17 per month for 30 years. What is the amount…

A: Cost of home= $265,000 Financing pattern= $2,223.17 per month for 30 years Amount of Interest=?

Q: What root did you have to use to solve this

A: using information we get n= 4*12=48 1000= 250(1+r)^48 1000= 250(1+r)^48 (1+r)^48= 4 48log(1+r)= log4…

Q: A man wants to buy a $33,000 car.  He will put 20 % down and finance the rest over 5 years.  How…

A: Given information: Purchase price = $33,000 Loan = $33,000 -20%×$33,000 = $26,400 Term = 5 years…