You work for a furniture store. You normally sell a living room set for OMR 4,000 and finance the full purchase price for 24 monthly payments at 24% APR compounded monthly. You are planning to run a zero-interest financing sale during which you will finance the set over 24 months at 0% interest. How much do you need to charge for the bedroom set during the sale in order to earn your usual combined return on the sale and the financing?

Q: Your second financing option for the SUV is the dealership will take $500 off the original $22,510…

A: Monthly payment The minimum amount needs to be paid by the person in an account every month.

Q: For the car loan described, give the following information. A car dealer will sell you the $30,950…

A: The annual interest rate that is charged by the lenders or at which the investors earn additional…

Q: f $30 each week from this customer. Assuming the shopper visits the store all 52 weeks of the​ year,…

A: The Profit yields per year can be determined using the expression below; P=pxn where; P=annual…

Q: You want to buy a new sports coupe for $81,500, and the finance office at the dealership has quoted…

A: i= 0.0525 (6.3%/12) n = 60

Q: A guitar manufacturer is making 50 guitars, at $350 each, for a music store.  To pay the bill, the…

A: A loan is an external source of funds that is acquired at a certain rate of interest and for a…

Q: how much can they spend on the home at each of the following rates? (

A: Time value of money (TVM) means that the amount of money received in the present period will have…

Q: You finance a $500 car repair completely on credit, you will just pay the minimum payment each month…

A: Given: Finance amount = $500 Minimum payment rate = 4% APR (Annual percentage rate) = 18.99%…

Q: After deciding to acquire a new car, you can either lease the car or purchase it with a three-year…

A: Lease is a way to get the asset for a fixed time period by paying periodicals payments to other…

Q: You wish to buy a $10,000 dining room set.  The furniture store offers you a three-year loan with an…

A: Given information: Present value or principal value is $10,000 Number of years of loan is 3 Interest…

Q: A small businessman is about to acquire a machine whose price is $ 15,000 with VAT included. If the…

A: A. Payment in cash Cash payment = $15000(1-15%) = $ 12750   B. Installment to pay on credit Initial…

Q: You purchase an RV by making a down payment of 2.56%, compounded monthly, and require you to make 36…

A: Down payment = $10,700 Monthly payment (P) = $1498.75 Interest rate = 2.56% Monthly interest rate…

Q: You are looking to purchase a Tesla Model X sport utility vehicle. The price of the vehicle is…

A:

Q: You decide to buy a $ 1,500 piece of furniture at a local furniture store. The furniture store asks…

A: Annual rate (r) = 25% Number of compounding per year (m) = 12

Q: You want to buy a new sports coupe for $132,500, and the finance office at the dealership has quoted…

A: The effective annual rate is the effective interest rate applicable on the loan after taking into…

Q: Suppose that you have decided to buy a certain car that costs $28,950, including taxes and license…

A: Monthly Payment refers to the payment that is to be paid monthly for a specific period of time to…

Q: Lisa would like to buy some furniture for the new home. Good Home Furniture offered her the maximum…

A: The maximum furniture that Lisa can afford is equal to the present value of the maximum credit…

Q: You want to buy a Ford SUV with a list price of $48,000. Dealer A offers to sell it for a discount…

A: PMT is the periodic payment.

Q: Suppose you have graduated from college and want to purchase a house. Your take-home pay is $4560…

A: To Find: Total Cost of House for 15-year mortgage. Maximum i can afford with a 30 -year mortgage.

Q: You have a friend who runs up a balance on hiscredit card by buying new furniture to replace…

A: A credit card is a narrow rectangular plastics or metal provided by a bank or financial services…

Q: Your friend Zoe is planning to buy an outdoor patio set from a furniture store. The MSR the marked…

A: Given information : Marked price : $12,000 Zero interest financing plan : $500 for 24 months One…

Q: You want to buy a new sports coupe for $74,900, and the finance office at the dealership has quoted…

A: Loan amount (PV) = $ 74,900 Annual interest rate = 7.3% Monthly interest rate (r) = 7.3%/12 =…

Q: Kyle Parker of Concord, New Hampshire, has been shopping for a new car for several weeks. He has…

A: APR or Annual Percentage Rate is defined as the annual interest, which are generated through sum…

Q: mberly Jensen of Storm Lake, Iowa, wants to buy some living room furniture for her new apartment. A…

A: The loans are paid by the monthly payments and these are equal monthly payments and they carry the…

Q: Assume that you are going to buy a new car worth $28,000. You will be able to make a down payment of…

A: Annual rate of return for dealer is the nominal annual interest rate that is charged by the dealer…

Q: Assume that a customer shops at a local grocery store spending an average of $300 a week, resulting…

A: The amount this customer yields per year in profits for this retailer=The amount this customer…

Q: You want to buy a new car, but you can make an initial payment of only $1,300 and can afford monthly…

A: Monthly interest = APR /Number of months Monthly interest =  9%/12 Monthly interest = 0.75%

Q: Suppose you buy an appliance costing ​$2350 at a store charging 13​% ​add-on interest, you make a…

A: Computation of principal amount:

Q: You have saved $3,000 for a down payment on a new car. The largest monthly payment you can afford is…

A: Computation of the value of car:Hence, the value of car if financed for 48 months is $22,161.14 and…

Q: If a dealer offers you a car at $275 monthly payment for 5 years plus $5,000 down. If you can get a…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Kelly Robins is considering purchasing a usedautomobile. The price including the title and taxes…

A: A concept through which it is studied that the current worth of money is higher than its future…

Q: A new furniture set costs $ 2700. If you make a down payment of $ 300 and finance the rest at a rate…

A: The amount of repayment is the number of installments multiply by the installment amount. and the…

Q: Anh decided to buy a new car that costs $35,500. She knows that she can get a 6-year loan at 3.8%…

A: 1. Calculate the present value of the monthly payments that the individual can afford by using EXCEL…

Q: You are interested in buying a brand new jalopy and expect the purchase price to be $19,000. The car…

A: Purchase Price = $19,000Down Payment = $1,000 Calculation of Loan Amount (PV):

Q: What is your monthly payment if you choose 0% financing for 48 months?  $                     .…

A: Mortgage amortization refers to a schedule which is prepared to shows the periodic loan payments,…

Q: You want to buy a new sports coupe for $74,700 , and the finance office at the dealership has quoted…

A: The monthly payments is calculated by using fallowing formula       Present value P = Present value…

Q: Chrissy is looking to buy a new bed delivery fee. She is considering the following two credit…

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

Q: Lola's Furniture is offering a "houseful of furniture" for $9,999. Furthermore, if you make a down…

A: First, we will calculate the present value of the amount then we will add the downpayment so as to…

Q: An auto dealer has designed a marketing gimmick. They are asking their customers tinky only $109 at…

A: The monthly payment is the lowest amount which an investor needed to save to get the required amount…

Q: Suppose you are in the market for a new car worth $18,000. You are offered a deal to make a $1,800…

A: Loan amortization schedule refers to the presentation of complete loan payments over the period of…

Q: The manager of Steve’s Audio has approved Daisy’s application for 24 months of credit at maximum…

A: To open the "PV function" window - MS-Excel --> Formulas --> Financials --> PV.

Q: You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted…

A: Given information : Price of car : $84,500 APR : 4.7% Time period : 60 months

Q: restaurant manager has the option of a 30-year loan of $412,000 at an annual interest rate of 3.95%…

A: Required: The monthly payment for both loans. The savings by using the 15-year  loan. Is the…

Q: If you are financing a new car with a loan that requires 15% interest compounded monthly over a 4…

A: Present value of annuity concept is required to use in this case. Present value of annuity is the…

Q: A new furniture set costs $ 2100. If you make a down payment of $ 700 and finance the rest at a rate…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…