To purchase s11,700 worth of lab equipment for her business, Jenny made a down payment of s1600 and took out a business loan for the rest. After 2 years of paying monthly payments of s447.65, she finally paid off the loan. (a) What was the total amount Jenny ended up paying for the equipment (including the down payment and monthly payments)? ? (b) How much interest did Jenny pay on the loan?
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- To purchase $14,300 worth of restaurant equipment for her business, Kala made a down payment of $1700 and took out a business loan for the rest. After 3 years of paying monthly payments of $383.33, she finally paid off the loan. 1. What was the total amount Kala ended up paying for the equipment (including the down payment and monthly payments)? 2. How much interest did Kala pay on the loan?In December 2016, Marcus purchased a car at RM 60,000 from Toyota UMW Sdn. Bhd. through a hire purchase agreement. He paid RM 20,000 down payment with 20 monthly instalments of RM2,266.67 each. After nine months of payment defaults, the car was legally repossessed and sold for RM 20,000. Find the amount of refund that she would receive from the company or the amount that of money that she would have to pay to the company.To pay for a $22,300 truck, Jina made a down payment of $4900 and took out a loan for the rest. On the loan, she paid monthly payments of $312.67 for 5 years. (a) What was the total amount Jina ended up paying for the truck (including the down payment and monthly payments)? $ (b) How much interest did Jina pay on the loan?
- a man purchased a car with a cash price of 350,000.00 He was able to negotiate with the seller to allow him to pay only a down payment of 20% and the balance payable in equal 48 end of the month. On the day he paid the 20th installement, he decided to pay the remaining balance. How much is the monthly payment? what is the remaining balance that he paid?Accounting "Gabriella bought a house for $997,000 and paid $179,000 as a down payment. If the interest rate is 10.2% for 15 years, what is the total cost of the house?Shantel purchased a car for $22,000; she paid $2200 as a down payment and financed the balance amount at 2.9% compounded monthly for 4 years. a) What is the size of payment made at the end of every month to settle the loan? b) What was the amount of interest charged for the entire loan? c) If Shantel pays an additional $200 per month, how many periods will it take to payoff the load? d) If Shantel pays an additional $200 per month, how much interest will be saved?
- A young engineer purchased a new car on an instalment basis with an amount of P 275, 000 as down payment. Remaining balance will be paid by a P 15, 000 equal-end of a monthly payment for a period of two years. However, the first monthly payment happens six months after the purchased. If money is worth 14% effective, find:a) the cash price of the car. b) the single amount to be paid by the engineer after a year of monthly payments if he decided to fulfil his complete obligation to the seller.Peggy made a down payment of $400 toward the purchase of new furniture. To pay the balance of the purchase price, she has secured a loan from her bank at 6%/year compounded monthly. Under the terms of her finance agreement, she is required to make payments of $75.32 at the end of each month for 24 months. What was the purchase price of the furnitureGg Ali borrowed $21,500 at 5.00% p.a. from his parents to start a business. In 3 months he repaid $4,500 towards the loan, and in 10 months he repaid $4,200. How much would he have to repay his parents at the end of 15 months to clear the outstanding balance? Use the declining balance method to calculate the last payment.
- On march 4 she spent $20 on a lottery ticket, on mrach 7 she won $ 265000 in the lottery. on march 10 she deposited $80000 in a business chequing account, on march 14 she made a down payment of $150000 from her personal funds plus a home mortgage of $240000. on march 15 she signed a rental agreement for her office for $2000 per month starting march 15, she paid 1st month rent and rest on 15th of every month. on march 19, she hired a receptionist for $725 a week starting march 24, she bought office equipement for $8000. on march 21, she purchased $225 of supplies on account. on march 24 she purchased $6700 of equipment for $3000 plus a $3700 note payable due in 6 months. On march 31 she performed $3700 of legal services on account . On march 31 she received $2500 cash for legal services to be provided in april. On march 31 she paid her receptionist $725 for the week , On march 31 she paid $225 for the supplies purchased on march 21. prepare a tabular analysis of the effects of above…An engineer who was in the business of customizing software for small construction companies repaid a loan that she got 3 years ago at 7% per year simple interest. If the amount she repaid was $35,000, what was the principal amount of the loan?Matt purchased a car for 22,000 he paid 4400 as a down payment and financed the balance at 3.7% compounded monthly for 5 years, A. What is the size of payment made at the end of every month? B. What was the amount of interest for the entire loan?