A man borrows 2,500 for 2 years at 8 1/4%. How much interest will be charged and what will be the amount at the end of the term? b. If 350 becomes 10,800 in 1 year and 6 months, what simple interest is applied? c. Joana loans 18,700 at 4 1/8% simple interest. How long will it take her to get 1800 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: Suppose you purchase a car for a total price of $32,740, including taxes and license fee, and…

A:

Q: What is the monthly payment for a home costing $425,000 with a 10% down payment and the balance…

A:

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

A:

Q: Consider a 30-year mortgage for $356,901 at an annual interest rate of 4%. What is the remaining…

A: in this question, we have  principal balance = $356901 total mortgage time = 30 years  we have asked…

Q: Your business requests a 3-month loan for 550,000. What will be the interest paid at the d of the…

A: Given query is to find the interest paid

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

A:

Q: 1. How much is your loan amount today if you are going to repay using 80 equal monthly payments of…

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

Q: Use the Saving for Retirement information above to answer this question. If your monthly payments…

A:

Q: Consider a 30-year fixed-rate home loan of $555,500 with an interest rate of 5.75%. What is the…

A:

Q: 5. Penny makes deposits into two separate accounts for 5 years: • Option A: $800; 6% annual simple…

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: Suppose that your parents have enough money to buy a car and a house. The car that they want to buy…

A: Cost of the car at buying time is =P 800,000 . Depreciation rate is 15%. It means that cost of the…

Q: 2. Emma availed of a cash loan that gave her an option to pay P10,000 monthly for 1 year. The first…

A: We will find out the required value.

Q: Suppose that you decide to borrow $15,000 for a new car. You can select one of the following loans,…

A:

Q: minimum

A: The mortgage formula is given by: M=P.r1+rn1+rn-1, where it is given that P=$175,000, r=0.04512 and…

Q: Suppose you have budgeted $ 1025 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Let x be the mortgage amount that offered.

Q: You buy a house for $250,000, make a 20% down payment, and take out at 30-year mortgage at an annual…

A: Here, House price= $250,000 Down payment= 20% Effective interest rate= 4%

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: What nomnal rate of discount of interest convertible once every four years is equivalent to a…

A: We need to determine, what nominal rate of discount of interest convertible once every four years is…

Q: Please draw cashflow diagram) What amount of money invested today at 15% interest rate compounded…

A: Given that the interest rate is 15% and its compounded quarterly and P30,000 at the end of each year…

Q: You want to be able to withdraw $35,000 from your account each year for 15 years after you retire.…

A: We have to find how much will we need to deposit each year until retirement to achieve our…

Q: Ruqaiya borrows $1917 at a simple-interest rate of 7% for 3 months. Then the Discount will be: O…

A:

Q: Ruqaiya borrows $1929 at a simple-interest rate of 6% for 6 months. Then the Discount will be: O…

A:

Q: If you borrow $600 for 18 months at 8% annual simple interest how much must you repay at the end of…

A:

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

A:

Q: You

A:

Q: Consider a 30-year fixed-rate home loan of $515,500 with an interest rate of 5.75%. What is the…

A: Given: P=  $515,500 ,           r=5.75% =0.0575 ,                        t=30 year

Q: Has a credit plan which charges her an interest rate of 36% compounded bimonthly. What is the…

A: Here, the formula used is: i=1+rmm-1...(1)

Q: 15.) Find the APR to the nearest half-percent on a $3700 loan that is repaid at 7% add-on interest…

A: answer is in next step

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: If you buy a 26 week T-bill with a maturity value of $1800 that sells for $1725.50, what is the…

A: We have to find annual simple interest rate when maturity value $1800 that sells for $1725.50 for 26…

Q: payday loan store charges $50 for a one-month loan of $180. What annual interest rate is this…

A:

Q: Consider a 30-year fixed-rate home loan of $515,500 with an interest rate of 3.75%. What is the…

A: Let  L, c and n denote the loan amount, the rate of interest per payment and the number of payments.…

Q: Consider a 30-year fixed-rate home loan of $525,500 with an interest rate of 3.75%. What is the…

A: We have to find the interest of given amount. The solution is following.

Q: If you purchase $28,000 in U.S. Treasury Bills with a discount rate of 4.3% for a period of 26…

A: Consider the given information.

Q: Consider a 30-year fixed-rate home loan of $595,500 with an interest rate of 3.25%. What is the…

A:

Q: If you borrow 1500 dollars from a lending agent for 13 weeks and in the end you have to pay back…

A: Formula r = (1/t)(A/P - 1) r = simple interest rate = ? P = principal amount =1500 A = P+ I  = 1650…

Q: You need a 30-year, fixed-rate mortgage to buy a new home for $250,000. Your mortgage bank will lend…

A: The payment made by the investor for the mortgage loan The purchase rate of house worth $250,000 and…

Q: Suppose a one-year discount bond offers to pay $1000 in one year and currently sells for…

A: Given Face value =$1000 Sell Price =$950 we know that                Price of bond=Face Value(1+r)n…

Q: Suppose Billy is carrying forward a $1900 tuition balance from the previous month. His annual…

A: Billy is carrying forward a$1900 tution balance from the previous month. Annual interest rate of…

Q: If $1000 is borrowed and the interest after 24 months is $300, what is the annual interest rate for…

A:

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: Consider a 30-year fixed-rate home loan of $535,500 with an interest rate of 5.25%. What is the…

A:

Q: How much is the effective cost if you need to borrow $350,000 for one year with 9% single payment…

A:

Q: A student loan of $50,000 at a fixed APR of 6% for 20 years has a monthly loan payment of $4,359.23,…

A: Given, A student loan of $50,000 at a fixed APR of 6% for 20 years has a monthly loan payment of…

Q: Jamie and Alice Newmark have a combined monthly gross income of $9,604 and monthly financial…

A: a.  House expense ratio =monthaly housing expense (PITI)Monthaly gross income…

Q: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…

A: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…

Q: If the interest rate on a $5,000 loan is 10%, what is the total amount due (principal and compound…

A: Principal  =  $5000  Rate  =  10%  =  0.1     Final amount to be paid    =  5000 × ( 1 + (10/100) )3…

Q: Suppose your salary in 2012 is $70,000. If the annual inflation rate is 5%, what salary do you need…

A: