a man purchased a car with a cash price of 350,000.00 He was able to negotiate with the seller to allow him to pay only a down payment of 20% and the balance payable in equal 48 end of the month. On the day he paid the 20th installement, he decided to pay the remaining balance. How much is the monthly payment? what is the remaining balance that he paid?

Q: Your roommate paid your half of the rent this month. Your half of the rent is $500 and you told her…

A: APR is the the annual percentage rate and that is the rate without compounding and is nominal rate.

Q: evin bought a washer and dryer for $1050 but only had a down payment of $150.00. He financed the…

A: In add on method we simply add interest for given period and add to that with principal amount.

Q: A young executive is going to purchase a vacation property for investment purposes. She needs to…

A: Present value = pv =$84,000 Total Installments =28*12 = 336 months Interest rate = r = 5.7/12 =…

Q: A young executive is going to purchase a vacation property for investment purposes. She needs to…

A: Present value = pv =$126000Total Installments =29*12 = 348 monthsInterest rate = r = 5.3/12 =…

Q: A purchased a small condominium. He paid P350,000 as a down payment and agreed to pay P35,000 every…

A: Down payment = P350,000 Quarterly payment = P35000 Interest rate = 12% Quarterly interest rate =…

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A:

Q: Lee purchased a laptop and promised to pay P2500 every month for 2 years, beginning on the date of…

A: Purchase of Assets on Loan Monthly payment Need to calculate prepayment price to close the liability

Q: A refrigerator sold for $500. The store financed the refrigerator by charging 0.5% monthly interest…

A: Given information:Selling price of refrigerator=$500Interest rate=0.5%No. of installments=30a)…

Q: Mr. Anton received two offers for the old equipment he is selling. Mr. Brando will pay P6,500 in…

A: Payment by Mr Brando P 6,500 Down payment by Mr Castilla P 1,000 Monthly payments by Mr.…

Q: A new employee charged $6740 on his credit card to relocate for his first job. After noticing that…

A: Monthly payments refer to the amount that is paid every month for the repayment of the loan amount…

Q: Steven is beginning a new job but has not yet been paid. He needs $700 to pay his rent this month.…

A: Effective Annual Interest Rate (EAR), also known as the annual equivalent rate (AER) or annual…

Q: I need help working out this problem. Please explain in detail.   Polly Flin borrowed $5,000 for 60…

A: The question is based on the concept of simple interest calculation and adjustment in principle by…

Q: Panpan purchased a car. She paid 250,000 as down payment, and 5,500 payable at the beginning of each…

A: Equivalent cash price refers to the equivalent present cost of the car at the time of purchase. It…

Q: simon's cost for a new computer with accessories was $3120. he made a down payment of $550 in…

A: Company would be paying the interest on the amount borrowed for the purpose of paying late. The more…

Q: Mary bought an electric oven listed as RM 3500 cash through an installment plan which she paid RM…

A: Answer:- a Computation of total interest charged:-  Cost of oven                  = RM3500 Less:-…

Q: n April 1, Year 1, a new customer purchased a piece of equipment from Thomas Tech Center by paying…

A: These are the accounting transactions that are having a monetary impact on the financial statement…

Q: Polly purchased a car. She paid P150,000 as down payment and pays P5,500 at the end of each month…

A: Polly purchased a car and paid ₱ 1,50,000 as the down payment and thereafter pays ₱ 5500 at the end…

Q: esk for $3,000. Miller will pay back $260 per month. Interest is 5% on the unpaid balance. Calculate…

A: Interest - Interest is the cost of borrowing money or the fee you charge to lend it. Most…

Q: While buying a new car, Austin made a down payment of $1,000.00 and agreed to make month-end…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: a refrigerator for P500 down and P300 per month for 24 months. The same brand of refrigerator could…

A: The given problem can be solved using RATE function in excel. RATE function computes interest rate…

Q: The rent is $1200 per month. The landlord requires first and last month’s rent, security deposit…

A: Amount payable = First month rent+Last month rent+ security deposit+credit fee

Q: M purchased a small lot in a subdivision, paying P200,000 down and promising to pay P15.000 every 3…

A: r = 12%/4 = 3% t = 10 years*4 = 40 Quarterly payments = P15,000 Loan value = 1-1+r-tr×Quarterly…

Q: ng engineer purchased a new car on an instalment basis with an amount of P 275, 000 as down payment.…

A: Monthly payments for the loan carry the payment for interest and payment for the loan amount also…

Q: The purchaser of a car paid $10,000 cash and agreed to pay $3000 at the end of 6 months for 10…

A: Calculate the future value of the annuities (PMT) that are not paid till the end of 3rd Year.…

Q: The buyer of a car makes a down payment of P225000 and pays P20794.52 at the end of each month for 5…

A: Down payment (DP) = P 225000 Monthly payment (P) = P 20794.52 Period = 5 Years Monthly period (n) =…

Q: An engineering student borrowed an amount of P 25,000 to be paid in 1 year and an amount of P 75,000…

A: Future value is the amount that is being considered for the purpose of compounding the present value…

Q: Able Long buys a new desk for $2,400. Able will pay back $250 per month. Monthly interest is 3% on…

A: Under U.S. Rule the unpaid accrued interest is accumulated separately &  first adjusted if any…

Q: Suppose that you charged $8430 on a credit card to relocate for your first job. When you realized…

A:

Q: A man purchased a car with a cash price of P700,000.00. He was able to negotiate with the seller to…

A: Given: Car Value = P700,000 Down payment = 20% Number of months to repay "n" = 48 Monthly interest…

Q: A young executive is going to purchase a vacation property for investment purposes. She needs to…

A: The monthly payment is $629.39 after rounded to two decimal places. Unpaid balance and total…

Q: A young executive is going to purchase a vacation property for investment purposes. She needs to…

A: To determine the unpaid balance after 10 months and the amount of interest paid during this period,…

Q: Casey purchased a machine for $28,500 for his company. He paid 5% of this amount as a down payment…

A: A loan is a contract between two parties where money is exchanged on the promise of future repayment…

Q: 1. On Sep and fin: started the mic charges bank o Answ

A: Motorcycle cost$10,000Down payment$1,000Interest rate9.6%Number of years5 yearsNumber of payments…

Q: Ancog purchased a parcel of land somewhere in Brgy Tignapoloan. She paid P150,000 for the down…

A: