What is the present value of a mortgage that costs $2400 per month for 5 years at an annual interest rate of 6%? What is the future value of a mortgage that costs $2400 per month for 5 years at an annual interest rate of 6%

Q: How much more is a perpetuity of $2,000 worth than an annuity of the same amount for 10 years?…

A: Formula using here,  PV of perpetuity =Amountinterest rate =20004%=$50,000

Q: What is the amount of interest of a loan 20,000 at 6% compound interest for 3 years?

A: We will find out the required value.

Q: 5. A car may be purchased with a $3500 down payment now and 72 monthly payments of $480. If the…

A: Monthly payment of the loan is A=$480 and number of monthly payments is 72  Monthly rate of interest…

Q: 1. Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the…

A:

Q: If you lend $4000 to a friend for 15 months at 8% annual simple interest, find the future value of…

A: Given: P=4000r=0.08n=1512 The formula for future value: FV=PV1+rn

Q: What is the size of the payments that must be deposited at the beginning of each 6-month period in…

A:

Q: A loan of 51000 dollars at 7.8 percent interest compounded annually is amortized with 11 equal…

A: We will find out the required value of equal size of payment.

Q: Consider a 30-year mortgage for $356,901 at an annual interest rate of 4%. What is the remaining…

A: in this question, we have  principal balance = $356901 total mortgage time = 30 years  we have asked…

Q: A company plans to purchase a large piece of machinery with $2401 semi-annual payments for 23…

A: Given:- Semi-annual payment of machinery =$2401             semi-annual payments for time =23 months…

Q: A sailboat costs $19,286. You pay 25% down and amortize the rest with equal monthly payments over a…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Suppose you see a car with a price of $12,000 that is advertised at $300 per month for 5 years. What…

A: Given: Price of the car=$12000, Payment=$300 per month, time=5 years.

Q: Suppose you purchase a car and you are going to finance $14,000 for 48 months at an APR of 6.6%…

A: Given:  Finance amount (P)=$14,000             Time (t)= 48 months= 4 years             Interest…

Q: A child’s grandparents are considering buying a $40,000 face-value, zero-coupon bond at birth so…

A: A child’s grandparents are considering buying a $40,000 face-value, zero-coupon bond at birth so…

Q: 14. Jeanine plans to deposit $875 quarterly for 3 years, into an account. With an interest rate of…

A:

Q: You have just won $1,500,000 in a state lottery. You will be paid an annuity of $60,000 a year for…

A: We have to find the present value of the income in dollars.

Q: What payment is required at the end of each month for 10 years to repay a $200,000 mortgage if…

A:

Q: If you lend $3300 to a friend for 15 months at 8% annual simple interest, find the future value of…

A: Given that, Present value, P = $3300 rate, r = 8% annually = 0.08 time, t = 15 months = 15/12 years…

Q: A man purchases a $2000 diamond ring for a down payment of $200 and monthly installments of $88 for…

A: Given: Cost price of diamond ring, P = $ 2000 Down payment amount = $ 200 Monthly installment = $88…

Q: Ann and Tom want to establish a fund for their​ grandson's college education. What lump sum must…

A:

Q: Find the future value in 8 years of a $10,000 payment today, if the interest rate is 3% per year…

A: We have PV = $10,000 r = 3% = 0.03 n = 8 years

Q: What is the present value of $2,000 paid at the end of each of the next 85 years if the interest…

A: n =85 rate = i  = 5% annuity value = 2000

Q: Suppose you want to accumulate $100,000 for a down payment on a house in 6 years. You make a single…

A: Solution is given below:

Q: If John wants to retire with $10,000 per month, how much principal is necessary to generate this…

A:

Q: A furniture set is purchased with a downpayment of 75,000 php, and the balance at 10,000 php a month…

A: Let's find.

Q: Find the present value of $52500 at a simple interest rate of 7 1/2% in 8 months.

A:

Q: How much could you save for retirement if you chose to invest the money you spend on Starbucks…

A:

Q: Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. c. If you pay…

A: Given that, loan amount P=$175,000, monthly payment PMT= $975, Interest rate r=4.5% and frequency of…

Q: You want to buy a $33,000 car. You can make a 10% down payment, and will finance the balance with a…

A: The purchasing price of the car is $33,000. I have paid 10% payment on cash. Then the remaining…

Q: How much interest will you owe if you borrow $2700 for 3 years at a simple interest rate of 7%…

A: Given that  principal amount=P=$2700Time =T=3yearsrate of interest=R=7%find interest

Q: You want to buy a $25,000 car. You can make a 10% down payment, and will finance the balance with a…

A: To find the monthly payments

Q: If you lend $3100 to a friend for 15 months at 8% annual simple interest, find the future value of…

A: P=$3100r=8%⇒r=8100=0.08t =15 months⇒t=1512=1.25  in years   formula: I=Prt

Q: Janet’s payments on her $12,500 car are $420 a month for 3 years. Assuming that interest is…

A: Janet’s payments on her $12,500 car are $420 a month for 3 years. P = $12,500, t = 3 years & n =…

Q: Suppose you want a $22,000 car right now, but cannot afford it so you instead get a loan. The loan…

A: Given Suppose you want a $22,000 car right now, but cannot afford it so you instead get a loan. The…

Q: Municipal Hydro offers to acquire a right-of-way from a property owner who receives annual lease…

A:

Q: Ava purchased a boat valued at $25,000 on an installment plan requiring equal monthly payment for…

A: Ava purchased a boat valued at $25,000 on an installment plan.The monthly payment is equal for four…

Q: Find the size of periodic payments to be made at the end of each month for 15 years to repay a…

A:

Q: Steven Nolte owes his parents $47,000 for his college education. Find the required monthly payment…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Suppose you make a single deposit of $8000. Calculate the amount of money you will have in the…

A: Given query is to find the amount after 5 years.

Q: Suppose that Juanita borrows $500 for 6 months at the simple interest rate of 9% per annum. What is…

A: Given :- Suppose that Juanita borrows $500 for 6 months at the simple interest rate of 9% per annum.…

Q: What is the maximum amount you can borrow with a 30-year mortgage if you can pay $725 a month and…

A: Note that, here the periodic payment PMT=$725, interest rate i=4.2%=4.212×100=0.0035, and the number…

Q: What is the present value of an annuity that pays ? per month for 10 years, where ?= 2055 if money…

A:

Q: Mustafa purchases an annuity due paying 8% quarterly. If his payment is $4511, how much will its…

A:

Q: A 3-year term insurance policy has an annual premium of $300, and at the end of 3 years, all…

A: Here we will use the formula  P0 = C*[1 -(1 +r)-n ]/rWhereP0 = Lump sum depositC= Annual deposit…

Q: Meg's pension plan is an annuity with a guaranteed return of 7.5% per year compounded quarterly. She…

A: First we calculate present value using formula of present value then obtained present value will…

Q: What is the future value of $12,000 invested in an account that pays 4.25% compounded quarterly for…

A:

Q: Rich buys a car for $28,000 and has two options for financing. The dealership offers either…

A: Solution:-. calculate the principal by compounded monthly.

Q: Find the future value of an ordinary annuity of $8000 paid quarterly for 3 years, if the interest…

A: Given  Paid value (PV) = $8000time period (n)   = 3 yearsintrest rate (i) = 8%=0.08Future value (FV)…