You borrow some money on a mortgage loan. Your monthly payments are $750 to start with, on a loan with a 30-year amortization and monthly payments. Your rate is 4% per year, compounded monthly. How much money did you borrow on this loan? O $138,750 O $187,500 O $123,766 O $157,096 O $225,000

Q: Find the future value of an ordinary annuity of $600 paid at the end of each year for 7 years, if…

A: To find the future value

Q: Find the future value of the following annuity due. Assume that interest is compounded annually,…

A: Future value of Annuity Due = P1+rn-11+rr ; where P- Periodic payment ; r - rate per period and…

Q: iv) Use your formula to determine the monthly payments at the beginning of each month on a $15 000…

A: Given: Loan Amount, P = $15000 Interest rate, r = 3% = 0.03 Number of years, t = 3 Number of period,…

Q: sailboat costs $21,385. You pay 15% down and amortize the rest with equal monthly payments over a 8…

A:

Q: Katrina borrowed an amount from Karina. She agrees to pay the principal plus interest by paying…

A: Since you have posted a multiple question according to guildlines I will solve first question for…

Q: Stacey purchased a car for $58,300; she paid 5% of the cost as a down payment and financed the…

A:

Q: You want to buy a new car. You can afford payments of $475 per month and can borrow the money at an…

A: Given information Payment=$475 per month Interest rate r=6.7% Since, interest id compounded monthly…

Q: The price of a new car is $36,000. Assume that an individual makes a down payment of 25% toward the…

A: Given, Principal = 36000 Down payment = 25%  So, the amount after the downpayment =  36000 -…

Q: Thomas received 50,000 php from his parents during his 33rd birthday. He invested his money in a…

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: A sailboat costs $19,818. You pay 20% down and amortize the rest with equal monthly payments over a…

A:

Q: A man buys a house for $390,000. He makes a $150,000 down payment and amortizes the rest of the…

A: price of the house is $39000 down payment is $150000 so the loan amount is

Q: You decide to start a new business and need to take out a business loan for $77,000.00 for 26 years…

A: Here I am attaching image so that you understand each and every step.

Q: - DISASTER RELIEF After a terrible cyclone in Bangladesh, an international disaster relief…

A: Given information Amount at end of each=$25,000 Payment at end of each quarter Time=5 years Rate of…

Q: the end of each month for the 6 years? Present Value of Ordinary Simple 6)What is the present value…

A:

Q: A new employee charged $6700 on his credit card to relocate for his first job. After noticing that…

A:

Q: A man is disabled in an accident and wants to receive an insurance payment that will provide him…

A: In this question, we will find the seek payment.

Q: You want to buy a new car. You can afford payments of $500 per month and can borrow the money at an…

A: From the given data,A=$500 per month.Interest rate of 5.7% compounded monthly for 5 years.

Q: A lottery prize is $600 million. If interest rate is 3 % nominal annual compounded annually, answer…

A: Let P be the principal amount and r be the interest rate compounded annually  then the equal…

Q: The price of a new car is $32,000. Assume that an individual makes a down payment of 25% toward the…

A:

Q: Annuities Find the 10-year future value of an ordinary annuity with a contribution of $1500 at the…

A: Formula to be used: Future value of an ordinary annuity, FV= PMT(1+r)n-1r Where,              PMT:…

Q: A recent graduate's student loans total $16,000. I these loans are at 5%, compounded quarterly, for…

A:

Q: Thomas received 50,000 php from his parents during his 33rd birthday. He invested his money in a…

A: Solution..

Q: 20. Jeremy has purchases a car and has taken a loan. The car is valued at $12,500. The loan carries…

A:

Q: Suppose you want to borrow $200,000 from the bank to buy a home and agree to repay the loan in 360…

A:

Q: You want to buy a $19,000 car. The company is offering a 3% interest rate compounded monthly for 60…

A: Given that you want to buy a $19,000 car. The company is offering a 3% interest rate compounded…

Q: The price of a new car is $20,000 . Assume that an individual makes a down payment of 25 % toward…

A:

Q: OHaganBooks.com is seeking a $260,000 loan to finance its continuing losses. One of the best deals…

A: Given, Loan amountP=$260000 Rater=9.5% Timen=10 years. The formula for finding the total payment is,…

Q: Suppose you want to borrow $200,000 from the bank to buy a home and agree to repay the loan in 360…

A:

Q: iii) Use your formula to determine the present value of a loan, with $200 payments at the beginning…

A:

Q: you want to buy a $14,000 car. The company is offering a 5% interest compounded monthly for 60…

A: Write the loan formula and put the all given information and simply solve for the monthly payment.

Q: Sarah secured a bank loan of $190,000 for the purchase of a house. The mortgage is to be amortized…

A:

Q: b) Suppose $50 is placed in a savings account at the end of each month for four years, If no further…

A:

Q: 9. FINANCING COLLEGE EXPENSES Mrs. Lorez wants all of her grandchildren to go to college and decides…

A: Given,  Amount after 18 years = A = $ 10,000  Time period = t = 18 years  Interest rate = r = 6 %…

Q: To offer scholarships to children of employees, a company invests $10,000 at the end of every three…

A: (a) It is given that, P = $10,000, r = 0.09, n = 4 and t = 10. Substitute P = $10,000, r = 0.09, n =…

Q: You have taken a loan of $7,000.00 for 4 years at 3.1% compounded monthly. Fill in the table below…

A: Solution of the problem as follows

Q: You want to buy a new car. You can afford payments of $275 per month and can borrow the money at an…

A: Here, I am solving 1st part only and please post the 2nd part of the question againGiven,…

Q: You purchase a home for $238,000, by making a down payment of 15% and financing the remaining amount…

A: Cost of the Home = $ 238000 Down payment = 15 % of cost Time period (n) = 30 years = 360 months…

Q: The price of a new car is $40,000. Assume that an individual makes a down payment of 25% toward the…

A: Here, original price= $40,000Down payment= 25%Rate= 6% per year

Q: (b) Tom and Annie are buying a house and have taken out a 20 year, $250,000 mortgage at 6% interest,…

A: We have to find the monthly payment and interest.

Q: Thomas received 50,000 php from his parents during his 33rd birthday. He invested his money in a…

A:

Q: The price of a new car is $40,000. Assume that an individual makes a down payment of 25% toward the…

A: The price of the car is $40,000. Down payment = 25% ⇒25100×40,000=$10,000 The individual paid…

Q: You borrow $450,000 from a bank to buy a house, at a rate of 2.25%, for 30 years. How much will your…

A: In the given problem,  P=450,000 $r=2.25% compounded monthlyt=30 years Here, interest is compounded…

Q: Suppose that you earned a bachelor's degree and now you're teaching high school.The school district…

A: Principal =$ 5000 interest=4.5% time =5 years n=1 (annually) formula used: Total A=P+Iwhere…

Q: Angelica received a 12 year non subsidized loan of 17,000 at an annual interest of 5.5 % compounded…

A: Loan amount=$17,000Rate of interestr=5.5%=0.055Monthly rate of…

Q: Suppose that you earned a bachelor's degree and now you're teaching middle school. The school…

A: The formula for future value of an annuity is…

Q: Sean Lee purchases $20,000 worth of supplies for his restaurant by making a $3,000 down payment and…

A: According to the given information: debt is of $20,000, down payment=$3000, time period=6 years,…

Q: 3. A developer sells a small lot that he had owned for 320,000. He deposited the money into an…

A: The formula we need to use here is Amount = P1+rnnt, where P is the principal, t is the number of…

Q: 3. You put $2000 into an account that earns 3.5% APR compounded monthly. a. How much will you have…

A:

Q: The price of a new car is $12,000. Assume that an individual makes a down payment of 25% toward the…

A: Given: The price of new car = $12000 Down payment = 25%