Sammy wants to buy a new stereo priced at $436. He enters into an agreement to pay $21 a month for 24 months. How much will the finance charge be for this purchase?

Q: Corey would like to purchase a new car for $28,000.  How much will his monthly payments be if he…

A: Given that: Principal amount of loan, P=$28000TIme period of loan = 5 yearsRate of interest, r=5.75%

Q: Find the interest paid on a loan of ​$2300 for   two years at a simple interest rate of 10​% per…

A: Formula used: Simple interest formula: The formula for calculating the simple interest is I = Prt.…

Q: If Tanya purchased a $1,700 set of golf clubs on a 9-month layaway plan and had to pay a monthly…

A: Given that $17000 set of golf clubs is purchased. Monthly payment is $201 and number of months is 9.…

Q: Castle has just finished his thirty-second year with his company and is getting ready to retire.…

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Q: What was Yvette's monthly payment?

A: Balance after 36th payment = 6521.43 Balance after 37th payment = 6151.8 For monthly payments…

Q: A man bought his girlfriend a new necklace for $259. Instead of paying cash, he paid $19 down,…

A: Cost of necklace = $259 Down Payment = $19 Amount left to be paid = Cost of necklace - Down Payment…

Q: What is her monthly payment on a 2005 Jeep priced at $7000 with a 13% interest rate for a 10 year…

A: Given Initial price of jeep P=$7,000Total time t=10 years Monthly interest i=13%

Q: How much money does Nora have for her car down-payment if she invests $750 at a monthly interest…

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Q: How much will you pay on interest if you buy a $213,000 home on 4.6% interest with monthly payments…

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Q: karen and wayne need to buy a refrigerator because theirs just broke. unfortunately, their savings…

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Q: If you can afford to make payments of $350 per month for four years. What is the largest amount of a…

A: Given Monthly payment(P)=$350Annual Percentage Rate(APR)=5%n=4 years=48  monthsNow use the…

Q: If you finance the cost of your car ($200,000) at 6.9% APR for 3 years, determine the monthly cost:…

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Q: Steven wants to buy a new couch priced at $558 and agrees to pay for it over two years with a…

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Q: Sammy wants to buy a new stereo price at $443 he enters into agreement to pay $22 a month for 24…

A: Cost of New Stereo = $443 He will pay $22 a month for 24 months to buy the sterio. Calculating the…

Q: To pay for his debt at 10% compounded semi-annually, рay Marcus committed for 10 quarterly payments…

A: To determine the amount of money Marcus borrowed.

Q: Jane Doe has a job in Detroit, MI, that pays $45,550 per year.  How much can she afford to spend…

A: Given that. Salary per year =  $45,550 Set budget = 15% of monthly take home pay.

Q: Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately,their savings…

A: Given: Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their…

Q: A payday loan company charges a $90 fee for a $600 payday loan that will be repaid in 20 days.…

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Q: Alan borrowed $30,000 from Janet due in five years at 10% monthly. Two years after the debt is…

A: Present value = future value/(1+r/m)^(m*n) Given  Future value =$30000 r=10%  n=5 years m=12

Q: your total payment on a 2 year loan, which charged 9% annual interest, amounted to $40,260. how much…

A: Given data is: Future value is FV=$40,260 Annual interest r=9% Time t=2 year To find how much did…

Q: a car costs $12500 and youre offered a loan that requires $800 down and a monthly payment of 228.29…

A: Monthly payments of 228.29 for 66 months contribute to 228.29*66 = 15067.14   And 800 down payment.…

Q: Kanye wants to save $16,000 in 6 years by making monthly payments into an ordinary annuity for a…

A: Given Kanye wants to save $16,000 in 6 years by making monthly payments into an ordinary annuity…

Q: Sammy wants to buy a new stereo priced at $413. He enters into an agreement to pay $20 a month for…

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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: Jenn borrowed $900 from her sister at a simple interest rate of 1.5%. If Jenn will pay back her loan…

A:

Q: A man bought his girlfriend a new necklace for $259. Instead of paying cash, he paid $19 down,…

A: Given,       the cost price of the necklace is $259       the discount given on the necklace is $19

Q: If a car priced  at $17,305 is offered for nothing down with 60 monthly payments of $397.63, what is…

A: Given Information -  Cost of the car = $17,305 Monthly payments to clear the debt = $397.63 Number…

Q: Ruth availed of a cash loan that gave her an option to pay P5,000 monthly for 1 year. The first…

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Q: A couple can afford to make a monthly mortgage payment of $650. If the mortgage rate is 9% and the…

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Q: Pamela Mello is paid on an incremental commission schedule. She is paid 2.9% on the first $60,000…

A:

Q: You buy a house for $280,000 and pay $25,000 down.  The rest is financed for 30 years at 6.5%…

A: Here, Value of House is $280,000 Down Payment is $25,000 Loan Amount (PV) is: Interest Rate (Rate)…

Q: Daniel paid $825 simple interest on a $1,400 loan for 5 years. What was the interest rate?

A: Here we have to find the interest rate i.e 'r'.

Q: What is her monthly payment on a 2010 Honda Civic priced at $4500 with a 15% interest rate for a 10…

A: formula for EMI is as below :

Q: An investor purchased a 93-day, Government of Canada T-bill that had a simple interest rate of 4.50%…

A: Given problem:- An investor purchased a 93-day, Government of Canada T-bill that had a simple…

Q: How much should be the Engineer borrow from a bank that charges 10% simple discount for 6 months if…

A:

Q: While buying a new car, David made a d payment of $1,100 and agreed to make end payments of $230 for…

A: Given- Down payment = $1,100 End payments of $230 for the next 4 years and 4 months. Interest rate…

Q: Jim financed the purchase of a new car. If the loan had an annual rate of 3.25% compounded annually…

A: By using formula we solve the given problem as follows :

Q: A car dealer will sell you the $16,150 car of your dreams for $3,290 down and payments of $338.97…

A: Let the APR (annual interest rate ) be r . r is determined in the following steps

Q: Michael wants to buy some new exercise equipment for his home for 371,000 financed at an annual…

A: In the add-on method, we divide add the principal amount and the interest for the five years into…

Q: You purchase a car for $12000 and agreed to pay it off in 48 monthly payments of $365 each. What…

A: Given Information: You purchase a car for $12000 and agreed to pay it off in 48 monthly payments of…

Q: Kyle took out a loan at a simple interest rate of 6% for 10 years. He ended up having to pay $12,000…

A:

Q: Mary and Kevin buy a vacation home for $350,000 down and take out a 15- year mortgage for the…

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Q: Jackie has a saving account that promises to increase her balance by 1.5% per year. If she deposits…

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Q: A laptop can be purchased for RO 400 for 50 RO down with a payment of 12 RO per month for 36 months.…

A: A laptop can be purchased for RO 400 for 50 RO down payment and 12 RO per month for 36 months

Q: Morgan loaned $3100 to Rolf at a simple interest rate of 0.65% per month. What was the term of the…

A: Here I am using simple interest formula.

Q: Maddy Brown needed​ start-up money for her landscape service. She borrowed $11,000 for 42 months and…

A:

Q: You want to make monthly payments of $440, but you don't want a car loan over your head for more…

A: Let the loan amount is P. it is given that monthly payment M is 440. the interest rate is 0.015…

Q: Sammy wants to buy a new stereo priced at $403. He enters into an agreement to pay $21 a month for…

A: Sammy wants to buy a new stereo priced at $403. He enters into an agreement to pay $21 a month for…

Q: Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings…

A: Given: Cost of refrigerator is $1500+5%sales tax. Interest rate of installment loan offered by…