You are considering buying a car for $5,000.00. You put $1,000.00 down and are thinking about taking out a 60-month loan at 8.375% simple interest to pay for the rest. Round all answers to the nearest penny, if needed, unless otherwise directed. How much will your principal be? At the end of 5 years, how much will you have to pay back? If you made monthly payments, how much would they be?

Q: Suppose you want to purchase a home for $375,000 with a 30-year mortgage at 5.94% interest. Suppose…

A: Given query is to find monthly payment and total amount paid.

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Q: Suppose you want to purchase a home for $475,000 with a 30-year mortgage at 4.54% interest. Suppose…

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Q: If Tanya's husband were to die, she and her children could live on $60,400 per year. Tanya makes…

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Q: You are considering buying a car for $14,000.00. You put $2,800.00 down and are thinking about…

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

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Q: Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 40…

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

A: Use the formula I=Prt100, where P is principal, and r is the rate of interest, t is the time.,…

Q: Michelle wants to have a $16,000 down payment when she buys a new car in 6 years. How much money…

A: Find the attchment for the solution.

Q: Consider a 30-year fixed-rate home loan of $411,500 with an interest rate of 4.375%. What is the…

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Q: Nabras borrows OMR 4800 for 10 months at a simple interest rate of 8% per year. Determine the…

A: Given data: The amount is P= OMR 4800. The interest is R=8%. Time is T=10 months.

Q: A lending company advertises that for a fee of P10, you can immediately borrow up to P200 for one…

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Q: A house costs $350,000. You pay a 15% down payment and amortise the rest with equal monthly payments…

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Q: Suppose you take out a loan for 160 days in the amount of $12,000 at 7% ordinary interest. After 40…

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Q: Trevor plans on getting a $222,000 loan for 30 years to purchase a home lender a offers him a 5%…

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Q: The price of a new car is $16,000. Assume an individual makes a down payment of 25% toward the…

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Q: 2. Donald wishes to borrow $250,000, and he qualifies for a rate of 3.29%. Find the monthly loan…

A: The compound interest formula is given by; CA=P1+r100t Where; CA→Compounded amountP→Principel…

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Q: Kira borrowed $8000 at a rate of 7%, compounded annually. Assuming she makes no payments, how much…

A: kira borrowed $8000 at a rate of 7%, compounded annually.how much money after 7 years.

Q: When Maria Acosta bought a car 2 1/2 years ago, she borrowed $16,000 for 48 months at 6.6%…

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Q: 2. Emma availed of a cash loan that gave her an option to pay P10,000 monthly for 1 year. The first…

A: We will find out the required value.

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

A: John wants to retire with $10,000 per month.Interest rate is 3%.To calculate:- principal that…

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

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Q: A recent college graduate moves back in with their parents and invests their entire first year…

A: Given  formula, A=P1+rnnt where, A = the future value of the investment, including interest P = the…

Q: Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 40…

A: givenAmount(A)=$14000R=7%n1=40 days=40365 yearn2=60 days=60365 yearn3=160-40-60=60days=60365 year

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: Suppose you want to purchase a home for $375,000 with a 30-year mortgage at 4.54% interest. Suppose…

A: The price of the home = $375000 It s given that 30% of the total price of the home is paid as a down…

Q: 4. A different car loan is advertised with a 3.25% APR for $23,000 a car. What is the monthly rate?

A: given that  there is a 3.25% APR for $23000 a car. total amount for a year will be…

Q: You want to buy a 5 year bond with a maturity value of $7,000, and you wish to get a return of 5.5%…

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Q: Marcel Thiessen purchased a home for $204,300 and obtained a 15-year, fixed-rate mortgage at 8%…

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Q: Consider a 30-year fixed-rate home loan of $515,500 with an interest rate of 3.75%. What is the…

A: Let  L, c and n denote the loan amount, the rate of interest per payment and the number of payments.…

Q: Suppose you buy a home and finance $275,000 at $2,233.17 per month for 30 years. What is the amount…

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Q: Mark and Natalie want to buy a house selling for $120,000. They will put $20,000 down  as a down…

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Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $512,000 home…

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Q: John Roe, an employee of The Gap, loans $3,000 to another employee at the store.  He will be repaid…

A: Since there are 4 quarters in a year so final amount is:  A=P1+R/4100t×4   =30001+8/41004×4…

Q: Just before his first attempt at bungee jumping, John decides to buy a life insurance policy. His…

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Q: Consider a 30-year fixed-rate home loan of $535,500 with an interest rate of 5.25%. What is the…

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Q: Melissa agrees to contribute $500 to the alumni fund at the end of each year for the next 4 years.…

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Q: A man bought a lot worth P1.2M if paid in cash. On the installment basis, he paid a down payment of…

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Q: You are currently making $70,000 a year after taxes and are interested in maintaining your current…

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Q: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…

A: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…