Sarah is shopping for a car, and she has $2,000 to make a down payment. She finds a car that she likes for $13,500. Her bank is willing to finance the purchase at an interest rate of 7.5 percent per year for a maximum of 5 years. Find the total of her payments (principal and interest) over the term of the loan. (answer in whole number)

Q: Marcel Thiessen purchased a home for $208,200 and obtained a 15-year, fixed-rate mortgage at 7%…

A: Marcel Thiessen purchased a home for $208,200 and obtained a 15-year, fixed-rate mortgage at 7%…

Q: You have agreed to pay off an $8,000 car loan with 24 monthly payments of $400 each. Use the simple…

A: Formula used: To find the interest rate in simple interest:…

Q: Martin wants to buy a new bedroom set that costs $1,829 including tax. Unfortunately, he doesn’t…

A: Martin wants to buy a new bedroom set that costs $1,829 including tax. Unfortunately, he doesn’t…

Q: oe Clemente bought a stereo costing $600 with $200 down and 10% add-on interest to be paid in 18…

A:

Q: 14) Ben wants to buy a $95,000 house He plans to pay $15,000 down and make monthly payments for 25…

A: simple interest formula:S.I=pnr100 p=principal amountn=nummber of yearsr=rate of interest

Q: The ordinary simple interest charged after 130 days on a loan of P 10,200 is P575. Find the interest…

A: Given: P=10,200I=575R=?T=130  days

Q: Tom is  considering purchasing a consol that promises annual payments of $4.  If the current…

A: Here, the annual payments of consol is $4 and the current interest rate is 5 %. Price of the consol…

Q: Callie calculates the monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate. With…

A: Given : The monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate.

Q: PMT is Maximum Monthly Payment = 3,504 i = 3/1200 n = 360

A:

Q: Michael wants to buy some exercise equipment for his home for $336000 financed at an annual rate of…

A: Amount Micheal has to pay per month is calculated as shown below

Q: In 2016, Donald Trump admitted he received a small loan of 1 million dollars from his father. If he…

A: Given, Principle = $ 10,00,000 time period T P = 32 years                              =32×12…

Q: In terms of paying less in​ interest, which is more economical for a ​$60,000 mortgage: a​ 30-year…

A: We need to identify which loan is more economical. Use the formula  PMT=Prn1-1+rn-nt    ...1

Q: A student loan of R25000 is to be repaid by regular monthly installments over 60 months. If the…

A:

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

A:

Q: The father has just donated $25,000 to a church. His son would like to donate an equivalent amount,…

A: Given;  Principal =$ 25000 Time = 5 years  Rate = 8.2%.

Q: Consider a 30-year fixed-rate home loan of $411,500 with an interest rate of 4.375%. What is the…

A:

Q: 3. Mocca Blanca invested P45, 000 for 2 years and 8 months and earn P12,450 interest. What was the…

A: Mocca Blanca invested P45, 000  for 2 years and 8 months and earn P12,450 interest . We have to find…

Q: Trevor plans on getting a $222,000 loan for 30 years to purchase a home lender a offers him a 5%…

A:

Q: Jane needs to pay for car repairs and, to do so, decides to pawn her bicycle. The pawn broker…

A: The simple interest, I is calculated using the formula, I=Prt , where, P is the principal amount, r…

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 businessman needs P50,000 for his operations. One financial institution is willing to lend him the…

A: Interest problem

Q: Mychael wants to buy some new exercise equipment for his home gym for 377,000 financed and in annual…

A:

Q: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

A: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

Q: 4. Joe buys a new laptop for $675 and pays for it over two years with 3.% simple annual interest.…

A:

Q: Salim wants to remodel his game room in 8 years. He estimates the cost to be $15238. Find the…

A: Consider the given information, The future value is FV=$15238, the time is 8 years and the rate is…

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

A:

Q: Tom and Linda have been approved for an $185,000, 15-year mortgage with an APR of 5.35%. What will…

A: Since the given term is APR then we have to compute simple interest. The formula for simple interest…

Q: b.) Loren barrowed P150,000for 5 years and 5 months and paid P21,000 interest. What was the simple…

A: If, P= principal t = time ( in years) r= rate of interest Then , Interest I= (P × t × r)÷100.

Q: Gabriella wants to buy a house costing $95,000, and she has $12,000 for the down payment. She can…

A: NOTE: Refresh your page if you can't see any equations. . the cost of the house is $95000 and the…

Q: Marcel Thiessen purchased a home for $204,300 and obtained a 15-year, fixed-rate mortgage at 8%…

A: Solve the following

Q: Find the monthly payment for the loan. Finance $500,000 for an apartment complex with a 12.3% 10…

A: Please rate and feel free to ask any query about any part of the question.

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: Olivia wants to pay her student tuition and fee in four annual payments: 6,000TL, 8,000 TL and…

A: Olivia wants to pay her student tuition and fee in four annual payments: 6,000TL, 8,000 TL and…

Q: Pandemic Bank charges 4% for discounting loans. If Super Tekla agrees to repay 3,000 in 6 months,…

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

Q: How much is the cash value of the car if the interest used is 12% monthly?

A: Given:monthly payment =17,000 Interest rate=12% Formula used: PV annuity=P×1-1+I-nI

Q: Jason takes out a car loan for $14,500 and is paying simple interest of 7%.  He finances the loan…

A:

Q: 5. Ahmed borrowed $450 from his credit union to buy a copier. If the interest rate is 9.9% and he…

A: Interest= p×r×t100, where p is the principal amount, r is rate of interest and t is time in years,…

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 will have a 350,000 mortgage for 30 years at the rate of 2.39%. What will your monthly payment…

A: We will find out the required monthly payment.

Q: The principal is $3,000,000. Mortgage payments are paid monthly. Compare the mortgage payments for a…

A: Since we know the principal value is 3000000, we can say that the present value for both the…

Q: Violet is planning to make 30 semiannual loan payments of 1300 dollars each. If her bank charges…

A: How much principal is in the 22nd payment?

Q: Jacqueline took out a $30,000 student loan with a fixed interest rate to pay for college. Jacqueline…

A: The amount of loan she took P1 =  $30,000  The current loan amount balance P2 = $56,000   Percentage…

Q: A new furniture set costs $2500. If you make a down payment of $500 and finance the rest at a rate…

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: A newspaper advertisement offers a 9000 car for nothing down and 36 easy monthly payments of 302.50…

A: Given ,  A newspaper advertisement offers a $ 9000 car for nothing down and 36 easy monthly payments…

Q: Hot Tub Heaven wants to include financing terms in its advertising. If the price of a hot tub is…

A: Annual Percentage Rate: The annual percentage rate is the rate earned on the investment or paid on…

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…

Q: Scott is taking out a mortgage for $258,000 to buy a new house and is deciding between the offers…

A: Given that, Scott is taking out a mortgage for $258,000 to buy a new house and is deciding between…

Q: Vic bought a new plasma TV for $1800. He made a down payment of ​$500 and then financed the balance…

A: Given,           Vic bought a new plasma TV for $1800. He made a down payment of ​$500 and then…