A small business refits its store. The builders charge them $124,000 which will be paid back in monthly installments over three years at 6.4​% APR. The builders will reduce this rate to 5.9​% APR if they pay $2,480 up front. By approximately how much will this reduce the monthly loan repayments​ ?   A. $103   B. $155   C. $52   D. 207   please use ba II where possible

Q: Lionel Cooper paid for new mechanic's tool with an installment loan of $6,000. months with a payment…

A: Loans are paid by equal monthly installments and these monthly payments carry the payment for…

Q: A pottery factory purchases a continuous belt conveyor kiln for $64,000. A 7.2% APR loan with…

A: The number of payment periods is calculated using NPER function in excel with loan amount as…

Q: A house is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every…

A: Price of house $1,00,000         Less: Down payment  $30,000         Loan Amount $70,000…

Q: a. A car dealer offers payments of $499 per month for 72 months on a $39,000 purchase of a car, but…

A: Compound = Monthly = 12monthly Payment = pmt = $499Time = nper = 72Purchase price of Car =…

Q: A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan…

A: PV=PMT x [(1-(1+r)^(-n)) / r]PMT= payment per period.PV= Present value of annuity (loan amount)r=…

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: Peggy made a down payment of $300 toward the purchase of new furniture. To pay the balance of the…

A: Frist we need to calculate loan value buy using loan amortization formula below.P=Loan n=number of…

Q: The price of a condominium is $110.000 The bank requires a 5% down payment and one point at the time…

A: Financing is the process of borrowing or investing amount for a period of time in order to earn or…

Q: What is the amount of each monthly payment? tables provided

A: Time value of money(TVM) means that the amount of money received in the present period will have…

Q: suppose that you decide to borrow $15,000 for a new car. you can select one of the following loans,…

A: a.Loan ALoan Amount (pv) = $15,000Interest Rate (rate) = 5.9%Time Period = 3 YearsNumber of Payments…

Q: Business loan The owner of a small business decides to fi- nance a new computer by borrowing $3000…

A: Borrowing = 3000 Time Period = 2 years ×12 = 24 Months  Interest Rate = 7.5%/12 = 0.625%

Q: (Present value of an annuity) What is the present value of a(n) 18-year annuity that pays $3,000…

A: To calculate the present value of an annuity, we can use the formula:PV = P * [1 - (1 + r)^(-n)] /…

Q: Correct ans please

A: Given: Price of car : $84,500 APR : 4.7% Time period : 60 months

Q: Not use of the excel Q)A car loan of $36601 is to be repaid by making payments each month for 3…

A: Loans are paid by the monthly payment that carry the interest payment and payment for the principal…

Q: A local restaurant decides to take out an amortized loan as follows: Amount of loan = $50,000;…

A:

Q: You borrowed $30,200 to remodel your kitchen. The interest rate is of the loan is 8.2 percent,…

A: Compound = n = Monthly = 12Present Value = pv = $30,200Interest Rate = r = 8.2 / 12 %Monthly payment…

Q: A washer-dryer combination can be purchased from a department store by making monthly credit card…

A: Given: Particulars Amount Monthly payment $46.34 Years 3.5 Interest rate 21% Additional…

Q: A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan…

A: Monthly payment=$2000For 2 yearsMonthly payment=$1000For next 2 yearsAPR=6%Monthly rate=r=0.5%

Q: Xerox DocuColor photocopier costing $44,000 is paid off in 60 monthly stallments at 6.90% APR. After…

A: Cost of copier=$44000APR=6.9%Period= 60 months

Q: A local business received a $45,000 loan at 4.0 compounded semi-annually. The business sett oan with…

A: Loans are paid by the equal monthly payments and these payments carry the payment for interest and…

Q: Compute the amount of monthly payment that must be made to pay off the loan and interest. Example of…

A: EMI is a fixed payment made by the borrower to the lender after every fixed interval of time, till…

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: A truck costing $119,000 is paid off in monthly installments over four years with 6.2​% APR. After…

A: Truck value =$ 119000 Interest Rate(r) = 6.2% APR = 6.2/12 = 0.516667% Total Years = 4 Total…

Q: You purchase a vehicle for $25,000 at an 8% APR.  Your loan term is 72 months.  After one year of…

A: Compute the monthly interest rate, using the equation as shown below: Monthly rate=Annual rate12…

Q: A truck costing $118,000 is paid off in monthly installments over four years with 8.7​% APR. After…

A: A loan is a debt amount that must be repaid to the lender with interest thereon. The monthly…

Q: Problem #2. Your  neighbor purchased a sailboat for $9,810. He made a downpayment of $2,000 and…

A: The formula for Annual Percentage Rate (APR) is: APR = [(Finance charge / Amount financed) x (12 /…

Q: A washer-dryer combination can be purchased from a department store by making monthly credit card…

A: Monthly payment refers to an amount that is paid at every month by the borrower to the lender at a…

Q: One retailer charges $1027 for a certain computer. A firm of tax accountants buys 7 of these…

A: The given problem can be solved using PMT function in excel. PMT function computes installment…

Q: PLEASE USA BA II WHEN POSSIBLE. A construction company takes a loan of $1,732,000 to cover the cost…

A: Loan amount (PV)=$1,732,000 Duration (n)=5*12=60 periods Rate per period (i)=8.55​%12=0.007125…

Q: Global Waste Management Solutions Ltd. borrowed $36,000 at 6.6% compounded semiannually. They made…

A: Borrowing Amount = 36,000 Interest Rate = 6.6% Compounded semi annually Number of compounding…

Q: o purchase a new equipment it is necessary to borrow $23000. The equipment dealer offers a 8-year…

A: Loans are paid by equal and annual payments and these annual payments carry the payment for interest…

Q: QUESTION 5 A bank originates a 30 year fully amortizing FRM at an annual interest rate of 5.5%. 9…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: A car dealer offers payments of $325 per month for 72 months on a $32,000 purchase of a car, but you…

A: Annual percentage rate (APR):The annual percentage rate (APR) is a key measure of the cost of…

Q: You are considering the purchase of new living room furniture that costs $1,140. The store will…

A: Variables in the question: Description                      DataPV ($)1140PMT ($)25.12nper52

Q: Assume two banks have different offers to take a lone. Where the amount will be compound monthly.…

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: A new car costing $28,000 can be financed with a four-year loan at 6.12%. A three-year-old model of…

A: Introduction: The present value of annuity can be defined as estimating the amount of money which…