You finance a $500 car repair completely on credit, you will just pay the minimum payment each month for the next three months. The APR is 18.99% and the minimum payment each month is 4% of the balance. Determine the finance charge carry-over balance, and minimum payment required for each of the next two months, and the starting balance for month 2 in the table below(round to the nearest cent) Minimum payment Month Carry-over balance Finance charge New balance $500

Q: You want to buy a $240,000 home. You plan to pay 15% as a down payment, and take out a 30 year fixed…

A: A= 220000 t= 30 years Do payment amount = 15100×220000= 15 × 2200  =33000 Amount for loan = 220000 -…

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A: Disclaimer: Since you have posted a question with multiple sub-parts, we will solve the first three…

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Q: On January 12, 2008 Best buy purchases a lot for $48000. The business made a partial payment of…

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Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $509,000 home…

A: The answer is given as follows:

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Q: pay

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Q: A credit card company offers a deferred payment option for the purchase of any appliance. Rose…

A: Given:    P = 4000    r = 10% = 10/100 = 0.1    t = 2  Compound Monthly :    t = 2*12 = 24      r =…

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Q: Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a…

A: We will find out the required value.

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Q: You want to buy a $217,000 home. You plan to pay 5% as a down payment and take out a 3.3% APR loan…

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Q: Jason loans $2000 to his sister, Rebecca, for 2 years at 3% simple interest. (a) How much interest…

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Q: You want to buy a $200,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan…

A: Given: Price of Home=$200,000 and Plan to pay 20% of down payment.

Q: Paul and Frank each borrow $1,191 for 6 months.  Paul's loan uses the simple discount model while…

A:

Q: Use PMT formula to determine the regular payment​ amount, rounded to the nearest dollar. The price…

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Q: Suppose you take out a loan for 180 days in the amount of $12,500 at 16% ordinary interest. After 40…

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A: Here, dealer financing is preferable.

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Q: You need to borrow $17,000, and receive three credit offers that use simple interest: Lender A: 5…

A: Given  Borrowed amount =$17000 and Lender A: 5 years at 6% interest Lender B: 4 years at 5% interest…

Q: Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a…

A: We will find out the required value.

Q: Suppose you obtain a 30-year mortgage loan of $191,000 at an annual interest rate of 8.5%. The…

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Q: Ashley lives in a condominium in downtown Toronto and works as a business analyst. He earns an…

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Q: Jean buys a $64,000 caravan by paying a deposit of $14,000. For the balance, she takes a loan and…

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A:

Q: If you finance the cost of your car ($60,000) at 7.65% APR for 6 years, determine the monthly cost:…

A: We can make it easier for you

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A: Total Amount: $2400 Down Payment: 20% of $2400 = 0.2 x $2400 = $480 Amount Financed: Total Amount -…

Q: Bill and Kim Johnson are purchasing a house for $316,000. Their bank requires them to pay a 10% down…

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Q: You have maxed out your credit card and owe $3,100. Its interest rate is 21%. Each month, you make…

A: Note: according to our guidelines we can answer only first three subparts   You have maxed out your…

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A: From the table, for 4.5% APR with 60 payments, finance charged will be 11.86

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