uppose you want to buy a new car that costs you 11993 OMR by a loan from bank Muscat for 6 years. the bank charges you 4.004 percent on your loan. what is the annual payment should you pay to the bank every year on your loan? Select one:

Q: A commercial bank will loan you $20,000 for four years to buy a car. The loan must be repaid in 60…

A: Loan = $20,000 No.of Monthly payments = 60 Annual interest rate = 6%

Q: Mr. James is going to buy a car for $12,000. He can finance with the car dealer for 3 years at 12%…

A: Loan is a contract between lender and borrower where lender provide funds to borrower for definite…

Q: suppose you want to buy a new car that costs you 15584 OMR by a loan from bank Muscat for 6 years.…

A: PMT is the periodic installment

Q: suppose you are planning to buy a home in 8 years from now that costs you 52387 OMR,  How much…

A: PMT signifies the periodic payment.

Q: You need to have OMR 15000 in five years to payoff a home loan. You can invest in an account that…

A: Given:

Q: A commercial bank will loan you $27,000 for five years to buy a car. The loan must be repaid in 60…

A: EMI or equated monthly installment is referred to as an amount payable, which is paid in each and…

Q: Suppose you want to buy a car. You have surveyed the dealers' newspaper advertisements, and the one…

A: the question is based on calculation of amortized loan . The loan will be repaid in equal…

Q: Suppose a man can afford monthly car payments of $380 per month, and his bank is offering a…

A: We need to use loan amortization  formula to calculate amount of loan that can be afford Loan…

Q: You decide to borrow $250,000 to build a new home. The bank charges an interest rate of 8%…

A: Mortgage/ Borrowings:  Borrowings are the loan which is taken by the individual to meet its…

Q: suppose you want to buy a new car that costs you 15514 OMR by a loan from bank Muscat for 6 years.…

A: Bank charges are the charges which are charged by bank for providing loan to the customer and other…

Q: I need a process .i have underlined the answer  You want to buy a house that costs $245,000. You…

A: Given information in the question Cost of house = $245,000 Down payment = $24,500 (10% of $245,000)…

Q: You borrow $10,000 to buy a car. You agree to pay $207.58. If your APR is 9%, how many years will it…

A: Given information: Cost of car is $10,000 Monthly payment is $207.58 APR is 9%

Q: suppose you are planning to buy a home in 8 years from now that costs you 48854 OMR,  How much…

A: Annual payments or saving refers to the periodic payment that can be made towards repayment of a…

Q: You want to borrow $65,000 from your local bank to buy a new sailboat. You can afford to make…

A: APR or Annual Percentage Rate implies for interest rate applicable on borrowed amount for each year…

Q: You bought a house exactly 16 years ago.  You borrowed money under a 30 year mortgage from Wintrust…

A: In the given question we require to calculate the amount we require to pay today to repay the loan…

Q: suppose you are planning to buy a home in 8 years from now that costs you 59933 OMR, How much should…

A: An investment is a financial term that represents a fund or a series of funds invested to accumulate…

Q: suppose you are planning to buy a home in 8 years from now that costs you 52387 OMR,  How much…

A: Given:

Q: 360 days To complete the sale of a house, the you accept a 240-day note for $9,000 at 7% simple…

A: Note for 240 days  Value of Note = $9,000 Interest rate = 7% Third party note = $9,108 Time period…

Q: If you deposit OMR 5000 in your account in a bank; if your bank pays 9.05% interest, how much will…

A: future value = present value *(1+rate)^n future value = 5000 * 1.090515

Q: suppose you want to buy a new car that costs you 11284 OMR by a loan from bank Muscat for 6 years.…

A: Payment on a normal loan is considered as an annuity on which the loan value gradually decreases and…

Q: Jenny puts $200 into a savings account today, the account pays an annual interest rate of 5%, but…

A: Invested amount = $ 200 Annual interest rate = 5% Semi annual interest rate = 5%/2 = 2.50%…

Q: To purchase a new car, you borrow $20,000. The bank offers a 6-year loan at an interest rate of…

A: The future value is the future worth of the amount that has to be paid or received in the present.

Q: You want to buy a $202,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan…

A: A loan is a facility provided by a lender to the borrower under which the borrower can take a lump…

Q: nnis Lamenti wants to buy a new car that costs $15,326.72. He has two possible loans in mind. One…

A: In this question, we have to find out the interest paid on loan by dealer and by bank

Q: You want to buy a car and therefore you need $10,000. You can borrow from a bank today for 6 years.…

A: Purchase Price of Car = 10,000 Time Period (N) = 6 years i.e. 72 months Down Payment = 10% Loan =…

Q: You want to buy a $202,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan…

A: The monthly payment will depend upon the interest rates, the time period and the amount of loan.

Q: f you took a home mortgage loan of $150,000 for 30 years at 8.4%, compounded monthly, your monthly…

A: Computing the unpaid balance at the end of two years: The unpaid balance is the present value of…

Q: Finding n Anna borrowed 100,000 from a local. bank which charges them an intrest bank rate of the…

A: Given that the initial principal amount of loan is $100000. Annual interest rate is 7%. Annual…

Q: 43. You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year…

A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…

Q: ou want to buy a $140000 home. You plan to pay $14000 as a down payment, and take out a 20 year loan…

A:

Q: suppose you are planning to buy a home in 8 years from now that costs you 55980 OMR, How much should…

A: The annuity term is a financial term that reflects a stream of equivalent periodic cash flows over a…

Q: You want to buy a car and therefore you borrowed $10,000 from a bank today for 6 years. The nominal…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: You have just borrowed $100,000 to buy a condo. You will repay the loan in equal monthly payments of…

A: a. Calculate the monthly interest rate as follows: Monthly interest rate is 0.75%

Q: You need $20,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an…

A: Loan :— Loan is the lending of money by one or more individuals, organizations, or other entities to…

Q: Suppose you decide to buy a car for $25,485, including taxes and licensing fees. You saved $10,000…

A: PV is the current worth of cash flows that are expected to happen in the future

Q: Charlotte wants to get a loan for $598000 to buy a house. The bank charges an annual interest rate…

A: In the given question we require to calculate the amount of monthly mortgage payment from following…

Q: Phil can efford $170 a month for 5 years for a car loan. If the annual interest rate is 3.9 percent…

A: Present Value of annuity refers to the present value of all the future payments of and series of…

Q: To purchase a new car, you borrow $20,000. The bank offers a 6-year loan at an interest rate of…

A: Answer-  Option(C) SPCAF- Single payment compound amount factor. It means payment is done at one go…

Q: Your friend has agreed to give you an interest free loan of $5,000 in 2 years' time for a down…

A: Working note:

Q: You are financing a car worth $27594.57 including tax. The interest rate is 5.19% compounded daily.…

A: IN CASE OF COMPUNDING, TOTAL PAYMENT WILL BE CALCULATED AS: TOTAL AMOUNT TO BE PAID = DOWN PAYMENT +…

Q: How much monthly installment will be offered by bank?

A: Time value of means (TVM) means that the amount of money received in the present period will have…

Q: suppose you are planning to buy a home in 8 years from now that costs you 47114 OMR, How much should…

A: Here, Future Value of home is OMR 47114 Time Period is 8 years Interest Rate is 6.012%

Q: suppose you want to buy a new car that costs you 15514 OMR by a loan from bank Muscat for 6 years.…

A: Given: Loan = OMR 15,514 Interest rate = 4.004% Year = 6

Q: You want to purchase a car with a sticker price of $25,000.The car dealer offers you a $2,000…

A: Note: I am supposed to provide the solution to the first question only. Please repost question no…

Q: You need to have $20,000 for a down payment on a house 4 in years. If you can earn an annual…

A: We need to use the concept of time value of money to solve the question. According to the concept of…

Q: You want to buy a $280000 home. You plan to pay $56000 as a down payment, and take out a 15 year…

A: A mortgage is the type of loan that a person is required to buy a house. It is the loan in which a…

Q: How much monthly installment will be offered by bank?

A: Time value of money(TVM) means that the amount of money received in the present period will have…