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A: Given, Purchase price = $1,000 Sale price = $1,700 No. of months = 1
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Q: An individual intends to invest $3,000 monthly for two years in a financial asset that pays the…
A: Here, Monthly investment = $3,000 Time period = 2 years Nominal Interest rate = 9% per year…
Q: A farmer purchased 245 acres of land for $4,900/acre. He paid 25% down and obtained a loan for the…
A: Loan amortization is the process of reimbursement of loan periodically by the borrower of the loan…
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A: Mortgage is the value of the lender asked in terms of loan given. These could be based on the paying…
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A: Given: Present value =$100,000 Return = 10% Years =10
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A: Future value refers to the sum total value of an investment account at a specified future period…
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A: Amount financed = Car price - down payment
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A: The future value is the future worth of the amount that will be paid or received in the future.
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A: Data given:: Purchase price of home= $61,158 Time= 11 years ago Down payment= 10% Mortgage…
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A: Required :Determine the amount in the account after 18 years.
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A: Given: Particulars Amount Cost of house 188686 Down payment 36866 Years 15 Interest rate…
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A: Installment of loan: When we say "installment loan," we're referring to the vast majority of…
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A: Monthly payments also known as EMI, as annuity payments of loan borrowed. Formula for EMI,
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A: Formula for compound interest final payment = P1+rnnt Where: p = principal amount r = rate of…
Q: Allen purchased a home for RO 108,000. He put down 20% and obtained a mortgage for 20 years at 11%…
A: Price of Home purchased by Allen = RO 108,000 Downpayment Made = 20% Mortgage Obtained for 20years…
Q: A couple wishes to borrow money using the equity in their home for collateral. A loan company will…
A: Here,
Q: urchased a house for $475,000. He made a downpayment of 20% of the value of the house and received a…
A: The loans are paid by the monthly payments that carry the payment for interest and payment for…
Q: what is the cash price of the property?
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A: Calculate the depreciation expense for 4 years:
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A: Insurance payment = Furniture cost - [(Furniture cost/Estimated life) * Furniture age]
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A: Computation:
Q: What amount would a person with actual cash value coverage receive for two-year-old furniture…
A: Furniture cost = $2,000 Age of furniture = 2 years Estimated life = 5 years
Q: Bruno deposited $7,500 into an investment account and seven years later, the balance in the account…
A: The rate of return earned on the account can be computed by using the concept of time value of money
Q: three years ago , the Kennedys purchased a house and took out a mortgage of $ 1,000,000 from the…
A: Mortgage: It is the loan that is granted by the lender to the borrower for purchasing a real estate…
Q: A family borrowed $84,000 to buy a house. The loan was at 6.7% and for 15 years. The monthly…
A: The net payment is the total amount paid for principal over the life of a loan, interest assuming…
Q: Ten years ago the Jacksons bought a house, taking out a 30 year mortgage for $170,000 at 5.75%. This…
A: Note: “Since you have posted a question with multiple sub-parts, we will solve the first three…
Q: Carl borrowed P101,466 from his friend to pay for remodeling work on his house. He repaid the loan…
A: Loan amount (L) = P 101466 Duration (n) = 20 months 12 days = 20.4 months Simple interest rate (r) =…
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A: In this question we need to compute the interest rate from following details : Present value of…
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Q: Helen purchased a house for $350,000. She made a downpayment of 15% of the value of the house and…
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Q: The Colemans bought a s234,000 house. They made a down payment of $41,000 and took out a mortgage…
A: Mortgage: A mortgage could be a contract between you and a lender that gives the lender the proper…
Q: Using the replacement cost method, calculate the actual cash value of a roof that was destroyed 15…
A: depreciation = replacement cost ×percentage of life span used actual cost = replacement cost -…
Q: This year 10 years after you first took out the loan, you check your loan balance. Only part of your…
A: Value of house today is sum of loan and interest to paid So interest plus loan is value of house…
Q: You took out a mortgage on a new house 13 years ago. You bought the house for $300,000; the…
A: Loan Amount = $164,000 Time Period = 30 Years Monthly Payment = $782.96
Q: Mr. Bill purchased a new house for 110,000. He paid 20,000 down and agreed to pay the rest over the…
A: An individual can take a loan to finance the purchase of an expensive item, such as a house,…
A homeowner purchased a house 30 years ago by $85,000, today the house value is $140,000. What compounded annual interest rate was recover by the owner of the house?
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- A couple purchased a home 20 years ago for $200,000. The home was financed by paying 10% down andsigning a 30-year mortgage at 12% compounded monthly on the unpaid balance. The net market value of thehome is now $2,500,000, and the couple wishes to sell the house.(a) How much was the monthly loan payment?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?Fifteen years ago, the Budai family bought a home and financed $150,000 with a 30-year mortgage at 8.2%. (a) Find their monthly payment, the total amount of their payments, and the total amount of interest they will pay over the life of this loan. (b) The Budais made payments for 15 years. Estimate the unpaid balance using the formulay =R( 1-(1+i)n-x-1/i)
- A couple purchased a home 20 years ago for $200,000. The home was financed by paying 10% down andsigning a 30-year mortgage at 12% compounded monthly on the unpaid balance. The net market value of thehome is now $2,500,000, and the couple wishes to sell the house.(c) How much equity does the couple have in the house after making 24 years of payments?The purchase price for a new home was $325,000. The buyer put down 20% and the balance was a mortgage for 80% of the purchase price. value at the time of closing was $339,000 and the assessed value was $342,000. What will the buyer pay for one year's property taxes if the A. $8,125 B. $6,500 C. $8,550 D. $8,480A couple purchased a home 20 years ago for $200,000. The home was financed by paying 10% down andsigning a 30-year mortgage at 12% compounded monthly on the unpaid balance. The net market value of thehome is now $2,500,000, and the couple wishes to sell the house.(b) Construct an amortization schedule for the first two payments
- Mr. Mogi borrowed $9000 for 10 years to make home improvements. If he repaid a total of $20,000 at what interest rate did he borrow the money? Give typing answer with explanation and conclusionA car is purchased at $18,000. The car depreciates by $800 each year. When would the car be worth $10,000?A holiday trailer depreciates in value between 10% to 15% per year. If your family purchases a holiday trailer for $29,000.00 and they plan on selling it in 4 year, what is the most that they could expect to sell it for if these depreciation percentages are correct?
- Ten years ago the Jacksons bought a house, taking out a 30 year mortgage for $170,000 at 5.75%. This year (exactly 10 years later) they refinanced the house, taking out a new 30 year mortgage for the remaining balance at 4.375%. What was the monthly payment on the original 5.75% mortgage? What was the remaining balance after 10 years (the amount they then refinanced)? How much interest did they pay during those first 10 years? What is the monthly payment on the refinance 4.375% mortgage? How much interest will they pay over the 30 year term of the refinance? How much total interest will they pay over the full 40 years the Jacksons have a loan for the house? Make sure your work shows how you are solving the problems, but feel free to use your calculator extensively - you don't need to show detailed steps of the formula evaluation.ten years ago, Amanda Cortez invested $20,000 in an account paying an annual interest rate of 5%. What is the value of the investment today? What is the interest on interest earned on this investment?Ten years ago the Jacksons bought a house, taking out a 30 year mortgage for $160,000 at 5.75%. This year (exactly 10 years later) they refinanced the house, taking out a new 30 year mortgage for the remaining balance at 3.625%. What was the monthly payment on the original 5.75% mortgage? What was the remaining balance after 10 years (the amount they then refinanced)? How much interest did they pay during those first 10 years? What is the monthly payment on the refinance 3.625% mortgage? How much interest will they pay over the 30 year term of the refinance? How much total interest will they pay over the full 40 years the Jacksons have a loan for the house?
