A sailboat costs $19,818. You pay 20% down and amortize the rest with equal monthly payments over a 11-year period. If you must pay 7.5% compounded monthly, what is your monthly payment? How much interest will you pay? Monthly payments: $ (Round to two decimal places.) Interest: $ (Round to two decimal places.)

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: A lump sum of 4190 dollars is invested in an annuity that pays 9.2 percent interest compounded…

A:

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: Brett borrowed $16,000 at 7.2% interest to buy a car. It is a 8-year loan. Find the monthly…

A:

Q: Find the monthly payment (in $) and the total interest (in $) for a mortgage of $42,000 at 52% for…

A:

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: Fritz buys a car costing $10,500. He agrees to make payments at the end of each monthly period for 8…

A: P = 10500 r = 9.6% = 9.6/100 = 0.096 t = 8

Q: You take out a loan to purchase a car for $7600. The bank offers you 3.8%, compounded monthly for 4…

A: Interest = $ 26525.22

Q: You have $400,000 saved for retirement. Your account earns 10% interest. How much will you be able…

A: Value(P) = $400,000  Interest (r) = 10%  = 0.10 Time (t)= 15 years  Payout annuity :  P = PMT * (1-(…

Q: Find the simple interest (in dollars) due on a 31-day loan of $950 if the annual simple interest…

A: The provided information is as follows:The principal amount is .The total number of days is .The…

Q: Jackie took out a $9000.00 personal loan with a 4.5% interest rate that she will pay back in 3…

A:

Q: An amount of $1500 is deposited semi-annually for two years into a fun 10.5% per year, compounded…

A: Its is given that $1500 is deposited semi annually for two years into a fund that pays 10.5% per…

Q: Kelly paid off his student loan in 3 years by making payments of $650 at the beginning of every…

A:

Q: Find the simple interest. Principal   Rate   Time $4000   9%   1 year

A: Introduction :-  Here we want to calculate simple interest for the given situation.  Given :-…

Q: You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay…

A: The monthly payment is calculated using the formula: Monthly Payment=Loan amount×i1-(1+i)-n. Here, i…

Q: You can afford monthly deposits of $250 into an account that pays 2.4% compounded monthly. How long…

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Q: You make a payment of $300 at the beginning of each month into an account that 3.6%annual interest.…

A:

Q: Kevin takes out a $350 000 mortgage for 30 years at 2.05% annual interest compounded quarterly. His…

A: The EMI i.e. the monthly payment required to be done by Kevin includes the interest component to be…

Q: Fritz Benjamin buys a car costing $21500. He agrees to make payments at the end of each monthly…

A:

Q: A loan is used to purchase a new truck. the total price of the truck

A:

Q: Carlos Menton purchases a new laptop computer from Knox Computer Solutions for $1499. If the sales…

A: Given: Purchase price = $1499 Sales tax rate = 4.25% r = 8.4% = 0.084 t = 3  n = 12 Formula Used:…

Q: Fritz buys a car costing $8100. He agrees to make payments at the end of each monthly period for 6…

A: