9.) Ray Flagg took out a 60-month installment loan of $12000 to open a new pet store. He paid not money down and began making monthly payments of $221. Ray's business does better than expected and instead of making his 36th payment, Ray wishes to repay his loan in full. a.) Determine the APR of the installment loan. b.) How much interest will Ray save by paying off his loan early? c.) What is the total amount due to pay off his loan?

Q: Nina buys a new sport utility vehicle for $31,000. She trades in her old truck and receives…

A: Amount=$31,000-$10,000Amount(P)=$21,000 Annual Percentage Rater=4% Payments made in a yearn=12…

Q: If Tanya purchased a $1,700 set of golf clubs on a 9-month layaway plan and had to pay a monthly…

A: Given that $17000 set of golf clubs is purchased. Monthly payment is $201 and number of months is 9.…

Q: Castle has just finished his thirty-second year with his company and is getting ready to retire.…

A:

Q: The following Venn diagram shows the 2012 population of students in a high school. T = {Students in…

A:

Q: Anna's employer covers 80% of the cost of a $5700-per-year health insurance plan, and her share of…

A:

Q: Ransford and Alda Mariano own a home recently appraised for $428,500. The balance on their existing…

A: The appraised value of the home is $428,500.

Q: Chris Gaalwantsto purchases a car that costs $12,667including all fees, taxes, etc. He has to make a…

A:

Q: Chris Gaal wants to purchase a car that costs $12,667 including all fees, taxes, etc. He has to make…

A: The expression: x% of y is same as the expression: x100×y. It is provided that the cost of the car…

Q: OC Motor Supply had beginning-year net fixed assets of $479 and ending-year net fixed assets of…

A: Given data:- The given beginning year net fixed assets of, =$479 The given ending-year net fixed…

Q: Austin's investment in his savings account matured to $4,438.35 at the end of 70 days. If the…

A: We will find the solution in the following step.

Q: You want to buy a $136,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan…

A: a) Given that, the down payment is 20% of $136,000. That is,DP=$136,000×20100.…

Q: Gina buys her first house for $250,000 at 5% APR with a 30-year mortgage.a. Find her monthly…

A: a) It is given that, Gina buys house for $250000 at 5% APR with a 30-year mortgage. Here Principal…

Q: You want to buy a $216,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…

A:

Q: Jane recelved $875 from her graduation party. She put the money in a bank with a 4% simple interest…

A: We need to find interest earned by Jane. We will use formula for calculating simple interest.

Q: Travis Thompson uses his credit card to obtain a cash advance of​ $600 to pay for his textbooks in…

A: Given thatTravis Thompson uses his credit card to obtain a cash advance of​ $600 to pay for his…

Q: Stock Bonds and Mutual Funds/ Compound Ammount Formula/ Credit Card and Consumer Loan/APR 1. Mr.…

A: Given:      Loan amount d=980       Annual interest rate r=15%…

Q: Kris borrows some money in her senior year to buy a new car. The car dealership allows her to defer…

A: Given information: Purchase price =$28,000 I= 6% N1=12  N2=48 Estimate the monthly payment: Loan…

Q: Bernardo Alicea founded an insurance company. For office expenses, he asked the bank for a loan of $…

A: In the given question we have to find total amount which should be paid by Bernardo Alicea. Bernardo…

Q: Ransford and Alda Mariano own a home recently appraised for $426,500. The balance on their existing…

A:

Q: Veronica took out a 48 month loan of $5,500 to make some home improvements. At a simple interest…

A: Loan amount P=$5500 Rate of interest r=3.25% Time t=48 month

Q: Todd and Nate want to buy a $257,000 home. They plan to pay 5% as a down payment, and take out a 30…

A: Since you have posted a multi subparts question according to guildlines I will solve first three…

Q: For a home mortgage of $150,000 at 6% interest for 30 years, find the followin a. Monthly payment.…

A: Given principal (p)= $150,000 Rate of interest (r)= 6%  Time in years (t)= 30 30 years = 30 × 12=…

Q: balance

A: Given Maryam borrowed OMR 4200 from Bank Muscat. If she had paid 3/7 of the loan. To find the…

Q: A computer store sells for  $2,200,000 . The buyer made a  30%  down payment and secured a  20…

A: Given that, A computer store sells for $2,200,000. The buyer made a 30% down payment and secured a…

Q: You want to buy a $185,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan…

A: Note: We are entitled to solve only one question at a time and up to 3 sub-parts only. As the…