1. Ken is paying 2,500 every 3 months for the amount he borrowed at an interest rate of 8% compouneded quarterly. How much did he borrow if he agreed that the loan will be paid in 2 years and 6 months? 2.  A store advertises a motorcycle for 3,000 downpayments and 3,000 per month for 15 months. If the interest is 15% compounded monthly, what is the actual value of the motorcycle?

Q: How much more is a perpetuity of $2,000 worth than an annuity of the same amount for 10 years?…

A: Formula using here,  PV of perpetuity =Amountinterest rate =20004%=$50,000

Q: Suppose that a car that you want costs $11000. You make a down payment of $1000 and finance the…

A: Car cost: $11000.  Down payment: $1000 Time: 4 yearInterest: 1.9% p. a.

Q: Mr. Chua had a P50,000 business loan that is to be paid for 1 year. If the interest rate is 10%…

A: Solution :-

Q: Pesse Jinkman, a chemistry student at PCC, will be depositing $15,000 at the end of every quarter…

A:

Q: Manhattan Island is said to have been bought from the Indians by Peter Minuit in 1626 for 24…

A: we have to find the compound interest annually with the given formula A(t)=P1+RNNT Where, A = Amount…

Q: Jill borrowed $13,000 at 5.5% p.a. compounded semi-annually. If the loan is to be repaid in equal…

A:

Q: A borrower had a loan of $20,000.00 at 6% compounded annually, with 12 annual payments. Suppose the…

A: Given information Loan amount P=$20,000 Interest rate r=6% compounded annually ⇒r=6100=0.06 As loan…

Q: What size payments should occur when $8,000 is borrowed at 8% per year compounded quarterly and the…

A: Given: The present value of the loan, PV=$ 8,000           Number of payment periods, n=8…

Q: Rose has saved $160,000. If she decides to withdraw $2500 at the beginning of each month knowing the…

A: From the given, Amount (A) = $160,000 Principle amount (P) = $2500 Rate = 5% per annum Then R =0.052…

Q: A man wishes to have P1,400,000.00 when he retires 15 years from now. If he can expect to receive 4%…

A: We will find out the required value.

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

A: Use the formula I=Prt100, where P is principal, and r is the rate of interest, t is the time.,…

Q: Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Given that, the monthly payment towards a mortgage is $1130, the number of years is 30 years and the…

Q: When Maria Acosta bought a car  2 1/2  years ago,  she borrowed $11,000 for 48 months at 7.8%…

A: Step 1: Determine the total number of payments made so far.Maria has been making payments for 2 and…

Q: Suppose your friend,halima, who lives new york  received an unexpected inheritance of $1,000,000 and…

A:

Q: A major shipping company is planning to purchase new cargo ships. It wants to borrow $1100 million…

A: Here we use compound interest formula to find the interest that company have to pay quarterly.   So,…

Q: A father wants to set aside money for his son's future college education. Money can be deposited in…

A: Consider the yearly amount deposit=$x The rate of interest r=8.5%=0.085 The amount of money at the…

Q: u are considering taking out a loan of $20,000 that would be paid back over seven years with monthly…

A: Given: Loan amount = $ 20, 000 Monthly paid amount  = $ 289.30 over 7 years interest rate = 5.7%…

Q: How much is the original loan if semi-annual payments of $100,000 are used to repay it at 5%…

A: r= 5% A = amount to be paid =$100,000 P = original amount  t= 8 years

Q: Harry is 30 years old and plans to retire at age 70 years with $1,200,000 in his retirement account.…

A: We have given A=$1,200,000  ,r=2.75% t=70-30=40 years compounded quartly (n)=4we know the formula…