You want to buy a $256,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan for the rest. a) How much is the loan amount going to be? b) What will your monthly payments be if the interest rate is 5%? $4 c) What will your monthly payments be if the interest rate is 6%?

Q: Suppose you want to have $600,000 for retirement in 30 years. Your account earns 10% interest. Using…

A: We will use recurring method of Banking to find solution to the chapter .

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Q: 13. Calculate the simple interest on a bank loan of $200,000 for a month, with a quoted rate of 6%…

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Q: The Mendez family is considering a mortgage loan of $349,000 at an annual interest rate of 6.95%.…

A: The Mendez family is considering a mortgage loan of $349,000 at an annual interest rate of 6.95%.a…

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Q: Answer the following questions completely.  Mboi sells his house through a real estate agent whose…

A: Let x be the selling price of x.

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Q: Joshua’s computer loan statement said that he would pay $1,244.34 in simple interest for a 3-year…

A: Given that, Joshua's computer lean statement said h would pay $1244.34 in simple interest for a 3…

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A: Given that, A major shipping company is planning to purchase new cargo ships. It wants to borrow…

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: A house sells for  $155,000  and a  20%  down payment is made. A mortgage was secured at  3%  for…

A:

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

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Q: The purchase price of a product is RO 16,000 and the down payment is OMR 2,000. What is the amount…

A: As our company policy,we are supposed to answer only one question.Kindly repost other questions.

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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: rate

A:

Q: ) You would like to take a housing loan with amount equal to JD 110,000, the bank annual rate on…

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Q: What is the amount owed for an installment loan to Finance Plan Product kitchen appliances $6000.00…

A: Given:-                           Finance plan product kitchen appliances price $ 6000…

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A:

Q: Juan De Mesa borrowed P50k at 2% per month payable in 36 equal end the month payments. a. How…

A: Juan De Mesa borrowed 50,000 at a interest rate of 2% payable in 36 equal end of the month payments.…

Q: Camba family was able to buy a house and lot worth Php4,250,000 which would be financed through…

A: As per our guidelines we are supposed to answer only one question.Kindly repost other question as…

Q: A tricycle costs ₱ 120,000.00. A young engineer availed one but by installment payments. If the…

A: given PV=120,000 PMT=3000 monthly payment i=1.5 % i=1.5100×12 =0.00125 claim- find the number of…

Q: 5. The Remicks want to finance a cruise to Alaska for $2,800. The offer is for no money down with…

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Q: A loan of 28,900 is obtained for 5 months at 8 3/5 %. How much is the simple interest?

A: Given that : a loan of 28,900 is obtained for 5 months at 8 3/5 %. We find the simple interest.

Q: 2. Camba Family was able to buy a house and lot worth Php4,250,000 which would be financed through…

A: worth of house = Php4,250,000   discount provided = Php100,000.   a) Net price of house for Camba =…

Q: 1. Faith availed of a cash loan from Home Credit that gave her an option to pay 10,000 monthly for 1…

A: Solution: Interest rate per month (r) = (12% / 12) = 1% Monthly payment (P) = 10,000 n = 12 Monthly…

Q: 2.Consider a student loan of $18,000 with an APR of 6% for 8 years. Find: a) the monthly payment;…

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Q: The new balance of a charge account is $145.00. The minimum payment is $30.00. If the interest rate…

A: Step:-1 Given new balance is $145.00 Minimum payment is $30.00 Left balance to be paid =…

Q: A loan officer at a bank has PhP1,000,000.00 to lend and is required to obtain an average return of…

A: Here we will find the required amount to lend by 16% rate,

Q: 4. Jessica makes $24,000 a year, but receives weekly paychecks. If 12% of her check is withheld for…

A: As per policy only first question is answered. Ques 4. Annual Income of Jessica = $24,000 Federal…

Q: 4. A different car loan is advertised with a 3.25% APR for $23,000 a car. What is the monthly rate?

A: given that  there is a 3.25% APR for $23000 a car. total amount for a year will be…

Q: b.) Loren barrowed P150,000for 5 years and 5 months and paid P21,000 interest. What was the simple…

A: If, P= principal t = time ( in years) r= rate of interest Then , Interest I= (P × t × r)÷100.

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: How much is the cash value of the car if the interest used is 12% monthly?

A: Given:monthly payment =17,000 Interest rate=12% Formula used: PV annuity=P×1-1+I-nI

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

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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: Use the ordinary interest method to find the rate of interest that Valley Mountain Vineyards pays on…

A: Given information Principal amount P=$5,600 Time t=235 days ⇒t=235360 years Amount of interest…

Q: 1. Mr. Cruz borrowed P110,000 at 5% simple interest to pay as down payment for a house and lot. If…

A: Solution

Q: Caitlin borrowed a certain amount of money for 6 years at an annual simple interest rate of 5.2%. If…

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Q: Violet is planning to make 30 semiannual loan payments of 1300 dollars each. If her bank charges…

A: How much principal is in the 22nd payment?

Q: 1. If you want to have $60,000 in 8 years, how much do you need to deposit in the bank today if the…

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Q: A loan of PhP 75,000 with level payments to be made at the end of every month for 24 months with…

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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: 2. Sammy borrowed $10,000 to purchase a new car at an annual interest rate of 11%. She is to pay it…

A:

Q: 3.4.1 If you buy a computer directly from the manufacturer for $2500 and agree to repay it in 48…

A: Please see the attachment

Q: 2. Mr. Ablan borrowed P25, 000 to start a market stall, at 14% simple interest. If he paid P10,000…

A: Given that Mr.Ablan borrows P25,000 at 14%S.I. and pays back P10,000 after every six months. (a)…