You want to buy a $25,000 car. You can make a 10% down payment, and will finance the balance with a 4% interest rate for 36 months (3 years). What will your monthly payments be?

Q: Salim wants to remodel his game room in 3 years. He estimates the cost to be $18559. Find the…

A:

Q: You have agreed to pay off an $8,000 car loan with 24 monthly payments of $400 each. Use the simple…

A: Formula used: To find the interest rate in simple interest:…

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: 14) Ben wants to buy a $95,000 house He plans to pay $15,000 down and make monthly payments for 25…

A: simple interest formula:S.I=pnr100 p=principal amountn=nummber of yearsr=rate of interest

Q: Tom is  considering purchasing a consol that promises annual payments of $4.  If the current…

A: Here, the annual payments of consol is $4 and the current interest rate is 5 %. Price of the consol…

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: Jane agrees to buy a car for a down payment of $2000 and payments of $220 per month for 3 years. If…

A: Given:

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: A sailboat costs $19,286. You pay 25% down and amortize the rest with equal monthly payments over a…

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

Q: Matthew wants to set up a sinking fund that will be worth $100,000 after 20 years of monthly…

A:

Q: If you lend $3800 to a friend for 15 months at 10% annual simple interest, find the future value of…

A: We know:- Simple interest = PRT ⇒P=initial amount ⇒R=Rate of interest⇒T=Time in years

Q: Although each payment is the same, with each successive payment the interest portion and the portion…

A:

Q: What are the monthly payments on a mortgage of $60,000 at 9% interest if the loan is to be repaid in…

A:

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

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: Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. b. How much will…

A: Given that, the loan amount is P=$175,000, interest rate r=4.5%, time n=30 years and due is monthly…

Q: If you lend $3300 to a friend for 15 months at 8% annual simple interest, find the future value of…

A: Given that, Present value, P = $3300 rate, r = 8% annually = 0.08 time, t = 15 months = 15/12 years…

Q: Penny makes deposits into two separate accounts for 2 years. Option A: $800; 6% annual simple…

A:

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: Mitchell has been given the option of either paying his $800 bill now or settling it for $812 after…

A:

Q: If you purchase a $600 item and pay for it with monthly installments for 2 years, the monthly…

A:

Q: Suppose you want to purchase a $160,00 house. If you put 20% down and finance the rest in a 20 year…

A: # Given: principal amount P=$16000 With 20% down payment  Interest rate r=0.04125 per year  With 20…

Q: Kiara is expected to settle a loan by paying $8,500. What amount should she pay if she decides to…

A: The given data is: To settle a loan by paying P=$8,500 Interest rate r=3.50% ( compounded monthly)…

Q: Suppose you want to purchase a $ 165000 house. If you put 20% down and finance the rest in a 25 year…

A: # Given: principal amount p=$165000 20% down payment  25 year mortgage  interest rate r=5.5%  then…

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: 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: Tom and Linda have been approved for an $185,000, 15-year mortgage with an APR of 5.35%. What will…

A: Since the given term is APR then we have to compute simple interest. The formula for simple interest…

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: You want to buy a $13,000 car. The company is offering a 4% interest rate for 48 months (4 years).…

A: Where,PVA = Present value of the annuityA = Monthly paymenti = Monthly interest rate in decimal…

Q: You want to buy a $33,000 car. The company is offering a 4% interest rate for 60 months (5 years).…

A: We have to find Monthly Payment.

Q: Steven Nolte owes his parents $47,000 for his college education. Find the required monthly payment…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: What is the maximum amount you can borrow with a 30-year mortgage if you can pay $725 a month and…

A: Note that, here the periodic payment PMT=$725, interest rate i=4.2%=4.212×100=0.0035, and the number…

Q: If Sandy can afford car payments of ​$430 per month for 7 ​years, what is the price of a car that…

A: We have to find the price of a car that Sandy can afford​ now.

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

A:

Q: You want to buy a $15,000.00 car. You can make a 10% down payment, and will finance the balance with…

A:

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

A:

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

A:

Q: Mitchell has been given the option of either paying his $800 bill now or settling it for $816 after…

A: There are 2 types of interest are there, simple interest and compound interest. Simple interest is…

Q: You want to buy a $157,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan…

A: # Given principal amount p=157000  Time =30 year & rate of interest r=5.55%  Then to find…

Q: A newspaper advertisement offers a 9000 car for nothing down and 36 easy monthly payments of 302.50…

A: Given ,  A newspaper advertisement offers a $ 9000 car for nothing down and 36 easy monthly payments…

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…

Q: Susan wants to purchase a new couch and loveseat for $1895.00 including taxes. If she puts it on a…

A: Given: Susan wants to purchase a new couch and loveseat for $1895 including taxes. She puts it on a…