professional mechanics who specializes in truck engines paid $50,000 for equipment that will have a $2000 salvage value after 6 years. The costs with each usage amount to $75 per day. The income is $270 per day for his services, how many days per year must he be worked in order to break even at an interest rate of 8% per year?

Q: mr. and mrs lkan deposite $15,000 into college saving account with an annual compound interest rate…

A: Given that Mr. and Mrs. Ikan deposited $15,000 into college saving account with an annual compound…

Q: 4.- Acme Annuities recently offered an annuity that pays 7.8% compounded monthly. What equal monthly…

A: Given data,  Interest rate = 7.8% = (7.8/12)% monthly  => Interest rate = 0.0052 monthly Final…

Q: e is a first year university student who is trying to understand his financial situation. Mike…

A: Given: Number of years = 3 Total number of savings done in 3 years  = 3×12…

Q: You want to buy a $17,000 car. The company is offering a 3% interest rate for 48 months (4 years).…

A: You want to buy a $17,000 car. The company is offering a 3% interest rate for 48 months (4 years).…

Q: You want to buy a $14,000 car. The company is offering a 2% interest rate for 48 months (4 years).…

A: We will find out the required value.

Q: A reverse mortgage is a way to use the equity in your house to pay for living expenses. Paul is…

A: Solution

Q: A man buys a house for $390,000. He makes a $150,000 down payment and amortizes the rest of the…

A: price of the house is $39000 down payment is $150000 so the loan amount is

Q: The major Airline is planning to purchase new airplanes. It wants to borrow $800 million by issuing…

A: The information given for the first question is: Principal Amount = $800 million Time = 10 years…

Q: Q1. You currently owe $125,000 on a 5.75% mortgage. How much interest will be due on your next…

A: To find - You currently owe $125,000 on a 5.75% mortgage. How much interest will be due on your…

Q: 4. The price of a house is 400000. Then, you make a down payment of 130000 and take a 30-year…

A:

Q: Lonnie needs extra money to buy a truck to start up a delivery service. He takes out a simple…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: Tan Company purchased a large server for $20,000. The company paid 35% of the value as a…

A: Solution:

Q: . Mr. J. Reyes borrowed money from a bank, He received from the bank 1, 842 Php and promise to repay…

A: We will answer the first question as you didn't mention any. Please resubmit the other question…

Q: Thomas received 50,000 php from his parents during his 33rd birthday. He invested his money in a…

A: Solution..

Q: "Winners of lotteries receive the jack-pot distributed over a period of years, usually 20 or 25…

A:

Q: When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate…

A: Given annual payment=  $12000intrest rate= 6%

Q: A new employee charged $4130 on his credit card to relocate for his first job. After noticing that…

A:

Q: Luis has $110,000 in his retirement account at his present company. Because he is assuming a…

A: answer  Total sum will be = $ 3081959.75 detailed explanation is given below

Q: 6 Adam bought a $500 tablet on hire-purchase plan, consisting of a deposit, then monthly payments.…

A:

Q: 5. Andy plans to have a fixed amount from his paycheck directly deposited into an account that pays…

A: Present value = R× future value/ {1-(1+R) -n } Where, R= rate per month n= number of month

Q: Suppose you want to borrow $200,000 from the bank to buy a home and agree to repay the loan in 360…

A:

Q: How much could you save for retirement if you chose to invest the money you spend on Starbucks…

A: Cost of 1 cup of coffee is $4.35. Therefore, the total cost of coffee = $4.35×50=$217.5. This is the…

Q: A T-bill is a type of bond that is sold at a discount over the face value. For example, suppose you…

A: Please refer the attached image for complete solution.

Q: 7. Laura borrows $5000 for 5 years at an annual simple interests rate of 5% per year. a) What is the…

A:

Q: Bernadette needs to borrow P2,000 in order to buy furniture. She's approved for two different loans.…

A: For loan 1 , principle is 2000 and after one year, the amount will also be 2000 For loan 2 ,…

Q: Lonnie needs extra money to buy a truck to start up a delivery service. He takes out a simple…

A:

Q: Suppose you want to borrow $200,000 from the bank to buy a home and agree to repay the loan in 360…

A:

Q: Gallant takes out a 15-year mortgage for $250,000 at 3.6% compounded monthly .a) What are his…

A: given, Gallant takes out a 15-years mortgage for $250,000 at  3.6% compounded monthly. We know that,…

Q: A road building contractor has received a major highway construction contract that will require…

A: find the solution below

Q: Theadre Adams wants to open an accounting firm once she gets out of college in 4 years. She has…

A: Future value of annuity is the value of stream of recurring cashflow compounded to future date at…

Q: You have $2,000 on a credit card that charges a 23% interest rate. If you want to pay off the credit…

A: Given data is: $2,000 on a credit card P=$2,000 r=23%=0.23 Number of years N=4 years The total month…

Q: Chau borrowed money from an online lending company to invest in the stock market. He took out a…

A:

Q: Year Interest Accrued for Year 2. 3. 4 7. 8. Total Interest %24 %24 %24 %24 %24 %24 %24 %24 (0

A: Loan Amount = $5000 Annual interest Rate = 10% Year 1,…

Q: 21. A consumer loan of P35,000 is to be paid in 36 months at 10% compounded monthly. What isthe…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Parents agree to invest $400 (at 8%, compounded semiannually) for their son on the December 31 or…

A:

Q: Rob wants to purchase a $5,000 drum set. The music store offers him a 2-year installment agreement…

A: Given that Rob wants to purchase a $5,000 drum set. The music store offers him a 2-year installment…

Q: Ten years ago the Jacksons bought a house, taking out a 30 year mortgage for $250,000 at 6.5%. This…

A:

Q: Insurance Payment A man is disabled in an accident and wants to receive an insurance paymentthat…

A: Given Insurance payment=$3000For 30 years and pays 9% compounded monthly

Q: You decide to buy a 2020 blue Rolls-Royce Phantom for $455,000. Use the simple interest formula to…

A:

Q: $2,000 is invested for 8 months at an annual simple interest rate of 12%. (a) How much interest…

A: Recall the following. I=PnrI is the simple interest obtainedP is the principal amountn is the number…

Q: (b) Tom and Annie are buying a house and have taken out a 20 year, $250,000 mortgage at 6% interest,…

A: We have to find the monthly payment and interest.

Q: Rich buys a car for $28,000 and has two options for financing. The dealership offers either…

A: Solution:-. calculate the principal by compounded monthly.

Q: In order to start a small business, a student takes out a simple interest loan for 8000.00 for 3…

A: The objective is to find the interest and future value.

Q: A Pawn Loan: Jeffrey Kowalski wants to take his mother out for dinner on her birthday, but until the…

A: This question can be solved using the concept of simple interest.

Q: Two plans are available for a company to obtain automobiles for its salesmen. Plan A: Lease the…

A: Given are, Option A, Pay P15 per Km Option B, Buy Car for 500000 with salvage 120000 :- cost per km…

Q: Sean Lee purchases $20,000 worth of supplies for his restaurant by making a $3,000 down payment and…

A: According to the given information: debt is of $20,000, down payment=$3000, time period=6 years,…

Q: 3. A developer sells a small lot that he had owned for 320,000. He deposited the money into an…

A: The formula we need to use here is Amount = P1+rnnt, where P is the principal, t is the number of…

Q: eeds extra money to buy a truck to start up a delivery service. He takes out a simple interest loan…

A: Simple Interest: Simple interest is a method for calculating the amount of interest charged on a sum…

Q: r. and Mrs. Smith have just purchased a $1,200,000 home and made 20% down payment. The balance can…

A: Given that  Mr. and Mrs. Smith have just purchased a $1,200,000 home  Down payment made = 20% of…

Q: Meadow Company wants to invest its net profits of $123,000 for 6 years in either a credit union or a…

A: