A contractor bought a new computer system for 520,000 pesos. After making a down payment of 130,000 ​pesos, he agreed to payments of 18,627 pesos per month for 24 months. Find the total installment cost and the annual percentage rate using the APR table. Click here to view page 1 of the APR Table for Monthly Payment Plans. The total installment cost

Q: An installment contract for the purchase of a car requires payments of $311.25 at the end of each…

A: The amount financed for the car is approximately $16,900.60. The total interest cost over the 5…

Q: an electrical engineer desires to set up fund by making uniform monthly end of period deposits for a…

A: first calculate the value at the end of the decade FV = 0, N = 3, PMT = 250,000, rate = (1+6%/12)12…

Q: You have a new 10 year Student loan for $20,000.00 that charges an interest rate of 6.45% compounded…

A: Amortization: It is the systematic writing-off of premium or discount on bonds issued. If the market…

Q: Given Period of Defferal Number of Payments 1) Monthly payments of P2500 for 3 years that will start…

A: NOTE : As per BARTLEBY guidelines, when multiple independent questions are given, then first…

Q: Lukas Center acquired a new Laser Machine worth ₱580,000.00. The center plans to pay 35% advance…

A: Given Loan Amount = 580,000 The required solutions for the question above are highlighted in the…

Q: A hospital equipment is selling for 93,863.9 downpayment plus 26,184.6 semiannual payment for 4…

A: Down payment=93,863.9 Semi annual payments=26,184.6 time=4 years Interest rate=5.1% compounded…

Q: You own the right to receive a sequence of payments. The first payment is $4000 and is received…

A: A stream of cash flows in perpetuity has been provided. The present value needs to be determined.…

Q: monthly payment amount be

A: An annuity is the regular payment of an amount at an equal interval. It is a payment of a fixed…

Q: An apartment unit in a rural area that sells for P1,800,000 can be purchased under terms requiring…

A: Price of  apartment (PV) = P1,800,000 Number of monthly payments (n) = 200 Interest rate = 12%…

Q: Banes Co. wants to borrow $300,000 on an add-on basis at a simple rate of 12.00% to be paid in nine…

A: Interest is the cost of borrowing payable at regular or flexible intervals. The simple rate of…

Q: Consider a loan of $98,000 at 7% compounded annually, with 12 annual payments. Find the following.…

A: Loan amortization can be defined as the procedure of amortizing the loan in such a way that the loan…

Q: machine selling for $10000 may be purchase by paying a $1000 deposit and the balance in equal…

A: in this problem we have to calculate present value FACTOR and from that we can get monthly payments.

Q: For a student loan of $20,700 at 2.75% for 20 years, complete the following. (a) Calculate the…

A: Loan amount = $20,700Interest rate = 2.75%Number of years = 20 years

Q: Robert bought a photocopying machine on an installment basis with 15, 103 downpayment and 84 monthly…

A: Present Value(PV) is current value of any future amount. It is calculated by discounting that future…

Q: An insurance policy provides a benefit of $21,500 twenty two years from now. Alternatively, the…

A: Amount to received after 22 years 21,500 Payment per year is $590

Q: Installment Note. On January 1, 20x1, agree to buy equipment in exchange for six payments of $2,000…

A: The note can be defined as the promissory note issued by the borrower making promise that the…

Q: A building is priced at $250,000. If a down payment of $25,000 is made and a payment of $5000 every…

A: The time value of money (TVM) is a financial concept that recognizes the idea that a sum of money…

Q: Your company agreed to pay a maintenance contractor $ 3.677 as the first payment at the end of the…

A: Annuity refers to series of equalized payments that are either made start or end of definite period…

Q: An installment contract for the purchase of a car requires payments of ​$217.43 at the end of each…

A: Interest expenses The amount that the borrower pays for the funds borrowed is called the interest…

Q: TA Corp. has a consulting contract with a firm that states that he will receive annual payments of…

A: We need to use present value of annuity due(payment due at beginning of year) formula for…

Q: n financing a new shopping center, the owner receives a loan of P1M at the beginning of each 6…

A: Deferred annuity refers to a contract payment wherein the account holder is promised to receive a…

Q: An annuity providing a rate of return of 6.4% compounded monthly was purchased for $61,000. The…

A: An Annuity is a payment made regularly for a fixed period of time at a fixed interest rate. This is…

Q: FIND THE MONTHLY AMORTIZATION(A) FOR PERIOD 1, THE INTEREST(B) FOR PERIOD 5, THE PRINCIPAL(C) FOR…

A: Loan amount = Price of the house  - down payment = 2,200,000 - 15% of 2,200,000 = 2,200,000 -…

Q: The total maintenance expense of a certain machine is 15,845 and can be disbursed by paying 3,458 at…

A: Annual equivalent cost is that is equivalent to the cost today considering the interest rate and…

Q: You just obtained a loan of $13,384 with monthly payments for four years at 8.4 percent interest,…

A: The concept of time value of money can be used here. As per the concept of time value of money the…

Q: A personal account earmarked as a retirement supplement contains $292,200. Suppose $250,000 is used…

A: An annuity is a financial term that depicts a stream of cash flows of an equivalent periodic amount…

Q: An installment contract for the purchase of a car requires payments of ​$217.43 at the end of each…

A: The loan can be repaid by making periodic payments which can be monthly or annual etc. These…

Q: contractor agrees to pay 150,000 pesos for a new computer system. This amount will be repaid in 3…

A: In the given case the value of computer system is 150,000. However, the same will be paid in 6…

Q: Find the cost if the project is paid full before it starts.

A: Present value illustrates the current value of a sum of money that will be received or paid in the…

Q: How long will it take an RESP to grow to $200,000, if the plan owner contributes $250 at the end of…

A: The payment flow which continues for a definite time period and terminates after lapse of time…

Q: y at the beginning of each month for Php 1,500.00. On the third year onwards, how much are you…

A: First year there was ordinary payment of Php 1000.00 If the payment of each month is - PHP 15000 for…

Q: Maria is considering purchase of a new machine. The purchase price of the machine is $12,000.  The…

A: Price of Machine =$12,000 Interest rate (r) = 15%/4 = 3.75 % per quarter Years =4 Terms(n) = 4*4 =16…

Q: A house costs $147,000. It is to be paid off in exactly ten​ years, with monthly payments of…

A: Given information: Cost of house is $147,000 Monthly payment is $1,783.52 Number of years is 10

Q: An instalment contract for the purchase of a car requires payments of $280.49 at the end of each…

A: Solution:- When a loan is taken, it is to be repaid in lump sum or in installments. If it is paid in…

Q: A man paid 10% down payment of P1,500,000 for a house and lot this month of January. The rate of…

A: Here, Interest Rate is 15% Compounding Period (C) is Semi- Annual i.e 2 Payment Period (K) is…

Q: You have taken out a 60-month, $26,000 car loan with an APR of 8%, compounded monthly. The monthly…

A: A loan refers to a contract between two parties where money is forwarded by one party to the other…

Q: An installment contract for the purchase of a car requires payments of ​$206.33 at the end of each…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…