You want to buy a car. The loan amount will be $32,000. The company is offering a 3% interest rate for 48 months (4 years). What will your monthly payments be?

Q: After 10 years, you have made 1/3 of the payments. Why isn't 1/3 of the loan balance paid off?

A: We can solve it mathematically and show that after 10 years only a partial principal amount is paid…

Q: The cost to purchase the house that Bainters are considering is $195,000 but the Bainters plan to…

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

Q: oe Clemente bought a stereo costing $600 with $200 down and 10% add-on interest to be paid in 18…

A:

Q: Andre takes out a student loan for his first year of civil engineering. The loan agreement states…

A: Given query is to find the loan amount.

Q: You want to buy a $17,000 car. The company is offering a 3% interest rate for 48 months (4 years).…

A: You want to buy a $17,000 car. The company is offering a 3% interest rate for 48 months (4 years).…

Q: You want to buy a $14,000 car. The company is offering a 2% interest rate for 48 months (4 years).…

A: We will find out the required value.

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) Finance $550,000…

A:

Q: Consider a 30-year fixed-rate home loan of $417,500 with an interest rate of 5.875%. What is the…

A: We will find the monthly payment as following.

Q: What Is the monthly payment for a $14,000 loan for 6 years with an annual interest rate of 3.8%?

A:

Q: In terms of paying less in​ interest, which is more economical for a ​$60,000 mortgage: a​ 30-year…

A: We need to identify which loan is more economical. Use the formula  PMT=Prn1-1+rn-nt    ...1

Q: Steven wants to buy a new couch priced at $558 and agrees to pay for it over two years with a…

A:

Q: Consider a 30-year fixed-rate home loan of $403,500 with an interest rate of 5.625%. What is the…

A: We have to find the monthly payment for the given loan.

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

A:

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

A:

Q: You want to buy a $21,000 car. The company is offering a 3% interest rate for 60 months (5 years).…

A:

Q: Jane needs to pay for car repairs and, to do so, decides to pawn her bicycle. The pawn broker…

A: The simple interest, I is calculated using the formula, I=Prt , where, P is the principal amount, r…

Q: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

A: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

Q: Steven wants to buy a new couch priced at $705 and agrees to pay for it over two years with a…

A:

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

A: Given interest rate is 10% and expected monthly income after retirement is $10,000 This monthly…

Q: Dr. Gupta is considering a 30-year mortgage at 6% interest. She can make payments of $3500 a month.…

A:

Q: Jonathan wishes to buy a used Chevy Malibu for $12,500. He only has $1,000 for a down payment so the…

A: Simple interest is given by I=PTR/100

Q: Alan decides to buy a home. He takes out a mortgage of $400,000 with an interest rate of 4.6%.…

A:

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: Gesky Industrial Products manufactures brushless blowers for boilers, food service equipment, kilns,…

A: Solution...

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: 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: Curtis bought a condominium for $319 000 and made a down payment of $64 000. The annual interest…

A:

Q: Larry invested $12,000 at an interest rate of 10.18% for 4 years. If the amortization schedule needs…

A:

Q: You have the option to take out a 30 year mortgage with an APR of 4.9% what will your monthly…

A:

Q: Gabriella wants to buy a house costing $95,000, and she has $12,000 for the down payment. She can…

A: NOTE: Refresh your page if you can't see any equations. . the cost of the house is $95000 and the…

Q: Marcel Thiessen purchased a home for $202,900 and obtained a 15-year, fixed-rate mortgage at 8%…

A: Given: The price of the home is $202,900. The loan period (t) is 15 years. The annual interest (r)…

Q: Find the monthly payment for the loan. Finance $500,000 for an apartment complex with a 12.3% 10…

A: Please rate and feel free to ask any query about any part of the question.

Q: You decided to buy a TV set on an installment basis. agree to pay 2, 999 every end of the month,…

A: To find: The amount of payments after 18 months. Given information: A person buy TV set on an…

Q: rt D: Home Depot sells a $1850 gas grill on the installment plan. The installment agreement includes…

A: The selling price of gas grill is $1850.  Installment agreement includes 20% down payment and 12…

Q: Jason takes out a car loan for $14,500 and is paying simple interest of 7%.  He finances the loan…

A:

Q: luis mahia purchases a porsche boxster for $45,600 and finances the entire amount at an annual…

A: Given Luis mahia purchases a porsche Boxster for  $45600 and finance the entire amount at an annual…

Q: Michael wants to buy some new exercise equipment for his home for 371,000 financed at an annual…

A: In the add-on method, we divide add the principal amount and the interest for the five years into…

Q: You will have a 350,000 mortgage for 30 years at the rate of 2.39%. What will your monthly payment…

A: We will find out the required monthly payment.

Q: You want to buy a $32,000 car. The company is offering a 5% interest rate for 60 months (5 years).…

A:

Q: The principal is $3,000,000. Mortgage payments are paid monthly. Compare the mortgage payments for a…

A: Since we know the principal value is 3000000, we can say that the present value for both the…

Q: How much can you barrow to buy a house if you agree to pay $1500 per month for 30 years at 4.5%…

A: In the given question we have to calculate the amount needed to be borrowed of which monthly payment…

Q: You want to buy a $231,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…

A: Given: down payment=5% and we take 30 year lone for the rest.

Q: Find the monthly payment of the loan. Purchase Price      Down Payment      Finance Charge   #of…

A:

Q: ABC Corp. recently obtained a 30-year (360-month), P250,000 mortgage with a 9 percent nominal…

A:

Q: Consider a 30-year fixed-rate home loan of $415,500 with an interest rate of 3.375%. What is the…

A: Given that  Fixed rate P=$415500 Rate of interest R=3.375% Time T=30 years let total amount after 30…

Q: a new car is to be purchased for Ş14 500. A car dealer computes the monthly payment to be $267 for…

A: PV=A[(1-(1/1+R)^n)/r^(P)] PV=initial amount A=regular withdrawal amount n=number of years/period…

Q: You want to buy a $229,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan…

A: Given that, the price of the home is $229,000. a) Obtain the loan amount. Loan amount=Price of the…

Q: Find the monthly payment for the loan. Finance $450000 for an apartment complex with a 8.5% 30 year…

A: Given   Amount =$45000      years=30    interest=8.5%  since we have the monthly payment for…

Q: Hot Tub Heaven wants to include financing terms in its advertising. If the price of a hot tub is…

A: Annual Percentage Rate: The annual percentage rate is the rate earned on the investment or paid on…