Jolene and her husband are looking to purchase a house. The are looking to get a 15-year mortgage at a fixed annual interest rate of 3.75%. What is the maiximum home price they can afford if their budget allows them to make $1,875 monthly payments? Edwardo competes in triathalon's and is in need of a new bike. He finances a $2,350 bike over 2 years at an APR of 5.95%. How much will his monthly payment be on this bike? Billy took out $12,000 in student loans to pay for his schooling. If he must pay the loan back over 10 years at an annual interest rate of 4.25%, how much interest will he end up paying on this loan if he pays it off on time?
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Jolene and her husband are looking to purchase a house. The are looking to get a 15-year mortgage at a fixed annual interest rate of 3.75%. What is the maiximum home price they can afford if their budget allows them to make $1,875 monthly payments?
Edwardo competes in triathalon's and is in need of a new bike. He finances a $2,350 bike over 2 years at an APR of 5.95%. How much will his monthly payment be on this bike?
Billy took out $12,000 in student loans to pay for his schooling. If he must pay the loan back over 10 years at an annual interest rate of 4.25%, how much interest will he end up paying on this loan if he pays it off on time?
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
