The purchase price of a condominium is 121,000$. A down payment of 26% is made. The bank charges 715$ in fees plus 3 1/2 points. Find the total of the down payment and the closing cost. (Round answer to nearest cent)
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The purchase price of a condominium is 121,000$. A down payment of 26% is made. The bank charges 715$ in fees plus 3 1/2 points. Find the total of the down payment and the closing cost. (Round answer to nearest cent)
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- A car dealership sells a car to a customer for $35,000. The customer makes a 10% down payment, and the dealership finances the remaining 90% in-house. How much will the car dealership record in Accounts Receivable for this customer? A. $31,500 B. $19,250 C. $8,750 D. $7,000The purchase price of a condominium is $122,000. A down payment of 22% is made. The bank charges $730 in fees plus 3.5 points. Find the total of the down payment and the closing costs. (Round your answer to the nearest cent.)A house has been sold for $180,000. The mortgage company requires a 25% down payment and charges a loan origination fee of 2.5 points in addition to $800 in other fees. Find the total of the down payment and the closing costs. Round your answer to the nearest cent.
- A customer bought a used car for $24,650. The customer’s down payment was $6,000 and the repayment will be $414 per month, for 48 months. What are the following: (Show your calculations) a) Amount financed?b) Total installment price? c) Finance charge?A washer-dryer combination can be purchased from a department store by making monthly credit card payments of $56.86 for two-and-a-halfyears. The first payment is due on the date of sale and interest is 22% compounded monthly. (a) What is the purchase price? (b) How much will be paid in installments? (c) How much is the cost of financing? (d) If an additional $9.00 per month is added to cover a service contract, what is the value of the entire contract on the date of sale?Lush Gardens Co. bought a new truck for $60,000 of this amount 6,000 was paid as a down payment and the balance financed at 5.75% compounded semi annually. If the company makes payments of 1,700 at the end of every month, how long will it take to settle the loan?
- Lush Gardens Co. bought a new truck for $50,000. It paid $5,000 of this amount as a down payment and financed the balance at 5.75% compounded semi-annually. If the company makes payments of $1,900 at the end of every month, how long will it take to settle the loan?General Computers Inc. purchased a computer server for $60,500. It paid 45.00% of the value as a down payment and received a loan for the balance at 9.00% compounded semi-annually. It made payments of $2,100.12 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? Round up to the next paymentA pottery factory purchases a continuous belt conveyor kiln for $68,000. A 6.3% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $765.22, over what term is this loan being paid?
- An apartment unit in a rural area that sells for P1,800,000 can be purchased under terms requiring 200 monthly payments. Assume that the first payment begins now and the interest is 12% compounded monthly. What is the size of the monthly payment?You are going to buy new machinery worth$36,200. The dealer computes your monthly paymentto be $735.25 for 72 months of financing. What is thedealer’s effective rate of return on this loan transaction?Cook Security Systems has a $37,500 line of credit, which charges an annual percentage rate of prime rate plus 4%. The starting balance on October 1 was $9,300. On October 4 they made a payment of $1,800. On October 13 the business borrowed $2,100, and on October 19 they borrowed $4,800. If the current prime rate is 8%, what is the new balance (in $)? (Round your answer to the nearest cent.) $
