ntegrated Visual Technologies is offering anyone who purchases a television an annual interest rate of 9.5% for 4 years. If Andrea purchases a 50-inch television for $5995 from Integrated Visual Technologies, find her monthly payment. (answer in whole number)
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- A consumer faces the following decision. She can buy a computer for $1050 and pay $10 per month for Internet access for three years, or she can receive a $500 rebate on the computer (so that it's cost is $550) but agree to pay $25 per month for three years for Internet access. For simplication, assume that the consumer pays the access fees yearly. (i.e., $10 per month= $120 per year, at the beginning of each year). a. What should the consumer do if the interest rate is 6 percent? b. What if the interest rate is 13 percent? c. At what interest rate would the consumer be indifferent between the two options in percent?Kimberly Jensen of Storm Lake, Iowa, wants to buy some living room furniture for her new apartment. A local store offered credit at an APR of 16 percent, with a maximum term of four years. The furniture she wishes to purchase costs $3,600, with no down payment required. Using Table 7-2 or the Garman/Forgue companion website, make the following calculations (round all intermediate calculations to two decimal places): What is the amount of the monthly payment if she borrowed for four years? Round your answer to the nearest cent.A credit card company offers a deferred payment option for the purchase of any appliance. Rose plans to buy a smart television set with monthly payments of 4,000 for 2 years. The payment will start at the end of 3 months. How much is the cash price of the TV set if the interest rate is 10% compounded monthly?
- A credit card company offers a deferred payment option for the purchase of any appliance. Flora plans to buy a desktop computer with monthly payments of P2,000 for 2 years. The payments will start at the end of 4 months. How much is the cash price of the desktop if the interest rate is 7% compounded monthly.While buying a new car, Austin made a down payment of $1,000.00 and agreed to make month-end payments of $270.00 for the next 3 years and 4 months. If she was charged an interest rate of 5.00% compounded quarterly for the entire term, answer the following, rounding to the nearest cent. 1. What was the cost of the car when Austin purchased it? Round to the nearest cent 2. What was the total amount of interest paid over the term? Round to the nearest centTim smith is shopping for a used luxury car. He has found one priced at $27,000. The dealer has told Tim that if he can come up with a down payment of $4,800, the dealer will finance the balance of the price at a 8% annual rate over 3 years (36 months). Assuming that tim accepts the dealer's offer, what will his monthly ( end of month) payment amount be? What will Tim's monthly payment be if the dealer were willing ot finance the balance of the car price at an annual rate of 3.1%?
- Larry purchased a gnu combined that cost 210,500, minus a rebate of 5500, a trade-in of 6500, and a down payment of 9000. he takes out a loan for the balance at 8% APR over four years. Find the annual payment.(simplify your answer completely. Round your answer to the nearest cent.)While buying a new car, Thomas made a down payment of $1,000.00 and agreed to make month-end payments of $350.00 for the next 4 years and 7 months. If she was charged an interest rate of 3.00% compounded quarterly for the entire term, answer the following, rounding to the nearest cent. a. What was the cost of the car when Thomas purchased it? Round to the nearest cent b. What was the total amount of interest paid over the term?you are buying new television. from past experience you estimate future repair cost as P500 during the first year, P1800 during the second year, P2700 during the third year and P3700 during the fourth year. The dealer offers to sell you a four year repair contract for P7000. You require at least 6% interest rate on your investments. should you invest in the repair contract?
- Andrea is buying a house for $190,000. She plans to make a 18% down payment. Closing costs include $750 for 66 months of homeowners insurance, $1150$ for 66 months of property tax, $100 for the title fee, and $450 in transaction fees. Andrea also agreed to pay two points in exchange for a 0.5% reduction in interest rate. Determine the amount of money Andrea needs to cover closing costs. Round your answer to the nearest cent.While buying a new car, Alexander made a down payment of $1,100 and agreed to make month-end payments of $290 for the next 5 years and 7 months. She was charged an interest rate of 4% compounded semi-annually for the entire term.a. What was the purchase price of the car?Round to the nearest centb. What was the total amount of interest paid over the term?Davis is considering purchasing a new car fro $13,000. The dealer is offering 2 options on the purchase: Option 1: Receive $750 rebate on the price of the car and finance the balance over 5 years at 4% interest. Option 2. Finance the vehicle for 6 years at 0% interest but no interest. Question: What is the monthly payment of option 2?
