A new PS4 has a purchase price of $700.00. With the extended 2-year warranty, the total cost is $850.00. What percent of the purchase price is the price of the warranty. 12% 19% 82% 21%
Q: A car dealership offers car loan for purchasing a type of truck. The interest on the loan is i12) =…
A: Given: Interest rate = 1.5% Payment = $1,243.40 Period = 3years
Q: Determine the monthly payment that must be made, as well as the financial run, to acquire a Nissan…
A: List Price is $238,900 Down payment is $11,945 Annual interest rate is 14.65% Number of periods are…
Q: A loan of P100,000 made today (December 7, 2020) at 8.75% simple interest rate will be repaid on…
A: Loan Amount = 100,000 Interest % = 8.75% Time Period = Dec 7 2020 to Feb 14 2021 = 69 days / 365 =…
Q: A car dealer advertises the sale of a car model for a cash price of P280,000.00. If purchased on…
A: Present value of an annuity: It is the value of all future payments at the present date at some…
Q: You have a new 10 year Student loan for $18,500.00 that charges an interest rate of 8.55% compounded…
A: Loan: The loan is a value that is borrowed from external sources like banks and this amount is…
Q: The 20th payment has $551 left in principal. Installment Loan Principal $3000.00 2 years How much of…
A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…
Q: Original Terms of Loan: 30 year loan of $127,800 at an interest rate of 6 ½ %. What is the monthly…
A: The equivalent annual cost is the periodic payment made towards the acquisition of an asset or…
Q: 2% compounded annually, calcula O a. P 455,875.00
A: The given problem can be solved using PV function in excel. PV function computes loan amount (price…
Q: What is the monthly payment size of a 25-year mortgage for $100 000 and an interest rate of 6%…
A: Monthly payment refers to an amount that is paid on monthly basis including the principal and…
Q: You apply for a loan of $151,000 with the following terms: A 7-year loan with semi-annual payments…
A: Solution:-When an amount is borrowed, it can either be repaid as a lump sum payment or in…
Q: Consider a student loan of $ 10,000 at a fixed APR of 9% for 4 years. aCalculate the monthly payment…
A: Student loans are generally paid by fixed monthly installments and these fixed payments include the…
Q: You plan to borrow P10,000 from your bank, which offers to lend you the money at a 7.5% nominal rate…
A: Nominal rate (D)= 7.5% Borrowed amount = P10,000
Q: Part a. Loan payments you borrow $100,000 over a period of 30 years at a fixed APR of 5.5% calculate…
A: The monthly payment can be derived from the following formula PMT=P×APRn1-1+APRn(-nY
Q: Apply the concept from page 8-9 practice 6 of the VLN: On January 1st, BB Company acquired a truck…
A: CALCULATION OF AMOUNT OF ANNUAL INSTALLMENT: Amount of Monthly installment (PMT) = PV / (PVAF,n,r)…
Q: None
A: Option c: This option is correct. Step 1:We have to calculate the present value of the amount to be…
Q: A house sells for $135,000 and a 25% down payment is made. A mortgage was secured at 2.8% for 20…
A: The monthly payment amount can be calculated with the help of present value of annuity function
Q: a us car that has a cash price of $11,000. The installment terms include a down payment of $4,000…
A: Finance charges are amounts paid above the loan amount and are paid as interest on the loan based on…
Q: You plan to borrow $46,400 at a 7.6% annual interest rate. The terms require you to amortize the…
A: Loans are paid by the equal annual payments and these payments carry the payment for interest and…
Q: On February 1, you borrow $750,000 to buy a house. The mortgage rate is 7.23% compounded…
A: Data given:Loan amount=$750,000N=20 yearsnper=20*12= 240Effective monthly rate=0.59362033%Working…
Q: Suppose you have $1,500 and plan to purchase a 5-year certificate of deposit (CD) that pays 7.6197%…
A: Investment (PV) = $ 1500 Period (t) = 5 Years Interest rate (r) = 7.6197%
Q: If you borrow $100,000 at an annual interest rate of 10% for six years, what is the annual payment…
A: Given:
Q: Honda is selling a 2014 Accord Coupe EX M for $30,057 including freight, PDI and all applicable…
A: The future value is the amount of money on a future date. It can be calculated using the time value…
Q: What is the monthly car payment on a 2 year $19,500 car loan at 7.5% annual interest?
A: In the given question we need to compute the monthly payment on car loan given that: Loan Amount…
Q: How much is the interest if you need to borrow $400,000 for one year with $475,000 line credit,…
A: In practice, it's ideal to keep unused credit cards active so that they may benefit from a longer…
Q: Find the discount if Marlon borrows P42,000 for 10 months at a simple interest rate of 15% per year.…
A: Given Information : Amount of loan = ₱42,000 Annual interest rate = 15%Number of months = 10
Q: Prescott Bank offers you a five-year loan for $54,000 at an annual interest rate of 7.5 percent.…
A: The annual loan payment is the regular installment of the total loan, which repays at a regular…
Q: Your credit card has a balance of $3700 and an annual interest rate of 13%. You decide to pay off…
A: Given: Loan amount $3,700 Interest rate = 13% Years =1
Q: You plan to borrow $47,400 at a 7.5% annual interest rate. The terms require you to amortize the…
A: Solution:When an amount is borrowed, it can either be repaid as a lump sum payment or in…
Q: Calculate the simple interest due on a 72-day loan of P3,000 if the annual interest rate is 4%.
A: Given: Loan = P 3000 Interest rate = 4% number of days in loan = 72 total number of days in year =…
Q: You plan to borrow $33,100 at a 7.0% annual interest rate. The terms require you to amortize the…
A: Borrowed amount is $33,100 Annual Interest rate is 7% Time period is 7 years. To Find:- Interest…
Q: 6. A phone company offers an Android phone for P47,000. The sales tax is 12% of the purchase price.…
A: Sales tax refers to the tax that is charged over and above the purchase price. The sales tax is…
Q: A car loan is taken for $22,000 to be paid back in 5 years, with monthly payments of $457. What…
A: As the payments are made monthly , hence first we have to calculate the monthly interest rate by…
Q: You plan to borrow $33,600 at a 6.5% annual interest rate. The terms require you to amortize the…
A: The objective of the question is to calculate the amount of interest paid in the second year of an…
Q: A $200,000 30 year mortgage with a contract rate of 8.94%, $3000 closing costs (lawyer, appraisal,…
A: In mortgage loan, the periodic payment over a specified period represents annuity (PMT). With…
Q: A mortgage of P500,000 is to be paid in monthly payments for 3 years. If the rate of interest is 9%…
A: Loans are paid by equal fixed monthly payments and these monthly payments carry payment for interest…
Q: A man borrowed P12,000 and agreed to repay it with P4,650.70 interest. If the interest is 6%…
A: Interest rate = 6% Compounded quarterly (r) = 6%/4 = 1.5% Present value (PV) = 12,000 Interest…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- A new Instant Pot has a purchase price of $700.00. With the extended 2-year warranty, the total cost is $850.00. What percent of the purchase price is the price of the warranty? a. 12% b. 19% C.21% d. 82%mineshThe extended warranty on a $1,250 dishwasher is 18% of the purchase price and lasts for five years. What is the effective cost per year of the extended warranty? $295 $225 $1,475 $45
- Problem 1 In 2020, Plumpton Company started selling new computer that carried a 2-year warranty against defects Based on the manufacturer's recommendations, the entity estimated warranty cost as a percentage of sales. First year of warranty Second year of warranty 3% 9% Sales and actual warranty repairs are as follows: Sales Actual warranty repairs 2020 P5.000.000 100.000 2021 P7.000.000 250.000 1. How much is the warranty expense for 2020? 2. How much is the estimated warranty liability for 2021 ?A $31,000 new car loan is taken out with the terms 3% APR for 48 months. How much are monthly payments on this loan? A. $892.01 B. $754.78 C. $823.40 D. 686.16 Please use BA II where applicable.If you borrow $100,000 at an annual interest rate of 10% for six years, what is the annual payment (prior to maturity) on a fully amortized loan? 14 Your choice: 14/15 Qs A: $0.00 B: $10,000.00 C: $16,666.67 D: $22960.74
- Suppose you want to apply for a loan of $500,000 with repayment tenure of 5 years. The interest rate charged on the loan is 11% and the processing fee is 1.5% and insurance cost is $5,700. Annual payments are made. The APR of the loan will be 11.53% О 11.25% 11.00% 12.50%What is the APR for a faxed rate mortgage FRM loan made in interest for 30 years with fees equal to 2% of the loan? 8 6.2% 52% Ⓒ 50% 064% amount of $500,000 ata 6% rate ofVijay
- Part a. Loan payments you borrow $100,000 over a period of 30 years at a fixed APR of 5.5% calculate the monthly payment Part b. Determine the total amount paid, then figure out what percentage is paid towards the principal and what percentage is paid for interest. Please solve part A and B they go together. I included an example problemA $90,000 reverse mortgage is for 10 years at 8% interest rate where payments are made monthly at the end of each month. What is the ending balance on this loan in month 2? A. 983.90 B. 974.81 C. 990.42 D. 980.64 E. 977.38 F. 987.18What is the monthly payment on a $160,000, 30-year mortgage at 6% with a $40,000 balloon payment? O $1,049.36 O $1,149.33 O $919.46 O $949.44