You can afford a $200 per month car payment. You've found a 5 year loan at 2% interest. How big of a loan can you afford? Submit Question %24

Q: You want to buy a $177,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…

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Q: Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings…

A: Adding the sales tax we get the amount of money borrowed is equal to  1598+5% of 1598 =1598(1+5/100)…

Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a…

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Q: Lynn needs to borrow $5500 for cosmetic surgery. She obtains a loan from her grandmother for 48…

A: Given: Lynn borrows a loan for cosmetic surgery of $5500 at simple interest rate 7.3% for 48 months.

Q: in order to start a small business a student takes out a simple interest loan for $4000 for nine…

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Q: Calculate the simple interest due on a 58-day loan of $3400 if the interest rate is 2%. (Round your…

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Q: You want to purchase a computer that has a price of $2206 plus 5% sales tax, and you decide to pay…

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Q: You can afford a $350 per month car payment. You've found a 3 year loan at 6% interest. How big of a…

A: Monthly payment is R= $350 Monthly interest rate is i=0.0612=0.005 Number of payments=n=12×3=36 The…

Q: You want to buy a $249,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…

A: Let's find.

Q: Jeffery Wei received a 6-year non-subsidized student loan of $32,000 at an annual interest rate of…

A: Consider the provide question, Given, P = $32,000 Annual interest rate = 5.3% We first find the…

Q: You can afford a $450 per month car payment. You've found a 3 year loan at 3% interest. How big of a…

A: Given, A person can afford a $450 per month car payment. He found a 3-year loan at 3% interest. Then…

Q: You want to buy a Car for $28,000 dollars. The bank gives you the option of 3% interest over 4 years…

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Q: You can afford a $450 per month car payment. You've found a 3 year loan at 2% interest. How big of a…

A: We have to find the total loan we can afford.

Q: A man used as a loan program for a small business to obtain a loan to help expand his vending…

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Q: You want to buy a Car for $20,535 dollars. The bank gives you the option of 3% interest over 4 years…

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Q: You take out a 50-day single-payment loan for $910 with an interest rate of 19%. Find the amount of…

A: using :- simple interest = P×R×T

Q: Dr. Grant borrowed money from his friend with simple interest of 12 %, find the present worth of P…

A: Future Amount (F) = P50,000 interest rate (i) =12% number of months (n)= 9 months

Q: A bank makes a car loan of $27,700, at 5.3% interest and with a loan period of 3 years. What is the…

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Q: loan

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Q: Determine the simple interest. p=587, r=0.045% per day, t=2 months

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Q: You borrow $625 for 90 days at a simple interest rate of 4.1%. what is the interest on the loan?

A: To calculate the simple interest under the given conditions

Q: You can afford a $350 per month car payment. You've found a 3 year loan at 3% interest. How big of a…

A: Given that  You can afford a $350 per month car payment. You've found a 3 year loan at 3% interest.…

Q: You want to buy a $28,000 car. The company is offering a 4% interest rate for 36 months (3 years).…

A: Solution is given below:

Q: Jolene's MasterCard statement shows an average daily balance of $680. Find the interest due if the…

A: Here, average daily balance= 680 rate=0.016

Q: You can afford a $300 per month car payment. You've found a 5 year loan at 4% interest. How big of a…

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Q: You can afford a $350 per month car payment. You've found a 5 year loan at 4% interest. How big of a…

A: Solution

Q: The cost of a home is financed with a $160,000, 30- year fixed-rate mortgage at 4.2%. The monthly…

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Q: A typical credit card charges 18.99%. Find the interest owed on a credit card with a balance of $372…

A: We will use simple interest formula to solve this

Q: You want to buy a $160,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan…

A: First, we have to find the total loan amount, and then we can proceed further.

Q: Your friend buys a $16,000 car. Your friend is financing the purchase with a loan at 3.6% with…

A: Given: PV=$16,000r=3.6%=0.036n=12t=5 years To determine: The interest paid over the course of the…

Q: deposits $10,000 into an account paying 9 (a number bet 6, rounded to the tenths place) % interest,…

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Q: Ana nec a loan of Pnp120. 000.00 for 15 montns ana paia Pnp360.00 interest. What was the simple…

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Q: You can afford a $350 per month car payment. You've found a 5 year loan at 2% interest. How big of a…

A: Given data- We have to find the future value.

Q: Divya has a 30-year mortgage for $248,000 with a 3.8% fixed annual interest rate. What is the total…

A: Basic simple interest problem of algebra. Here option (C) is correct the solution is provided below

Q: Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings…

A: Given: Price of refrigrator = $1538 + 5% sales tax, Rate of interest = 14%, Number of years = 3…

Q: 4. A student took out a simple interest loan for $2800 for two years at a rate of 6% to purchase a…

A: The simple interest formula is: A=P(1+rt)

Q: You take out a 7 month, $2,000 loan at 8% annual simple interest. How much would you owe at the end…

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Q: You can afford a $400 per month car payment. You've found a 4 year loan at 6% interest. How big of a…

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Q: Your friend buys a $15,000 car. Your friend is financing the purchase with a loan at 3.6% with…

A: According to the question, The principal amount P=$15000. The rate of interest r=3.6% The time taken…

Q: You have $2,000 .on a credit card that charges a 21% interest rate. If you want to pay off the…

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Q: You can afford a $250 per month car payment. You've found a 3 year loan at 3% interest. How big of a…

A: Given: You afford $250 per month for a car. The interest rate is 3%  and repay the loan in 3 years.…

Q: You can afford a $350 per month car payment. You've found a 4 year loan at 7% interest. How big of a…

A: Given, you can afford a $350 per month car payment. You've found a 4-year loan at 7% interest.

Q: You want to buy a $241,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan…

A: The total price of the home is $241,000. The down payment will be 15% among the total price.  Rest…

Q: You can afford a $200 per month car payment. You've found a 5 year loan at 5% interest. How big of a…

A: Given, you can afford a $200 per month and you've found a 5 year loan at 5% interest Let the loan…

Q: Jack borrowed a $35,000.00 loan with a simple annual interest of 4.50%, what is the total amount he…

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Q: Ryan bought a $255,000.00 house, paying 10% down, and financing the rest at 7% interest for 15…

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Q: Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings…

A: Given : Sears offers them an installment loan at 13% (add-on rate). If the refrigerator at Sears…

Q: You want to take out a $125,000 mortgage. The interest rate on the mortgage is 5%, and the loan is…

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Q: You want to be able to withdraw $20,000 from your account each year for 15 years after you retire.…

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