Al Ree bought a new delivery truck for $18,000. Al put a down payment of $4,000 and paid $270 monthly for 60 months. The total finance charge: O a. $4,000 O b. $2,200 O c. $2,020 O d. $2,000

Q: Caridad borrowed $18,500 at 11% ordinary interest for 160 days. After 60 days, she made a partial…

A: Borrowed amount is $18,500 Ordinary interest rate is 11% for 160 days Partial payment made at…

Q: K Franklin's new snowmobile cost $13,000. After his down payment of $1,000, he financed the…

A: A loan is an agreement where one party provides the other party with an amount that is to be repaid…

Q: Three friends buy a secondhand equipment that costs P120,000.00. They pay P40,000.00 down and the…

A: Monthly Installment on loan: A set payment amount paid by a borrower to a lender at a predetermined…

Q: Brett purchased a machine for $22,500 for his company. He paid 5.00% of this amount as a down…

A: An amortization schedule is created to understand the breakdown of the loan payments and to find out…

Q: Wade Ellis buys a new car for $16,882.14. He puts 10% down and obtains a simple interest amortized…

A: An amortized mortgage refers to a type of loan where the borrower makes regular payments over a…

Q: monthly payments for th

A: Monthly payment refers to the amount which is due and paid in regular intervals to an organization…

Q: A man buys a house for $350,000. He makes a $150,000 down payment and amortizes The rest of the…

A: Price of house = $350,000 Down payment = $150,000 Mortgage amount = $350,000 -$150,000 Mortgage…

Q: Caridad borrowed $17,500 at 11% ordinary interest for 160 days. After 60 days, she made a partial…

A: The final amount is computed by adding the loan amount and interest due and then subtracting the…

Q: Dick takes a loan of $8,000 to buy a used truck at the rate of 9 % simple Interest. Calculate the…

A: From the details given in the problem Principle = P = $8,000 and R = 9% or 0.09 expressed as a…

Q: Jamil is purchasing a new truck and financing $28,000. Jamil will make 60 monthly payments of $541…

A: The additional amount that is paid by the borrower on the borrowed amount is term as the finance…

Q: From this partial advertisement: $123.86 per month for 60 months $5,200 used car cash price $50 down…

A: please like the answer your response matters a) amount financed $5150 5200-50   finance charge…

Q: Chris bought a new car for $12,500. He made a $3,000 down payment and financed the rest at an annual…

A: Loan is an amount that is paid by the lender to the borrower for the certain period of time. The…

Q: Jim Meriweather purchased an engraving machine for $25,000 and financed it for 36 months. The total…

A: The Present Value   is the current value of a future amount i.e.,   it is the amount to be invested…

Q: Tarell purchased a car for $54,700; he paid 5% of the cost as a down pay the balance amount at 3.4%…

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

Q: Grandin wishes to take out an installment loan to finance the purchase of a small antique dining set…

A: Amount of Finance Charge = Total Amount to be paid for Loan - Present Value of loan

Q: Jason Bradley decided to buy a home for $271,000. His bank requires a 25% down payment. His…

A: Given: Particulars Amount Cost of house $271,000 Down payment 25% Recording of the deed…

Q: 4 years. His Monthly loan was 23.03. What was the monthly payments and what was the total interest…

A: Loans are to be paid by the monthly payments that carry the payment for interest and payment for…

Q: Chad purchased a new Toyota 4-runner for $32,500. He put a $5,000 down payment and inanced the…

A: It is the rate which is charged annually by the lender. FormulaAPR=Interest expense + Total feesLoan…

Q: Phillip purchased a machine for $20,000 for his company. He paid 5.00% of this amount as a down…

A:

Q: Ray Miller was looking for funds to support his company's expansion. His bank offered him a $25,000…

A: Value of simple discount loan is $25,000 Interest rate is 10% Time period is 90days To Use: 30/360…

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: Corey buys 10 Tufflift 4-post, 4.5-ton car hoists for his parking garage at a total cost of…

A: Future value of amount formula:-FV = A * (1+r)nwhere,FV = future value of amountA = Amount…

Q: Pete Frank bought a computer for $4,000. Pete put down $500 and financed the balance at 10 ½% for 36…

A: Monthly Payment = Principal Amount x Monthly Payment Factor @ 10.5% for 36 months (From Table) /…

Q: John Sullivan bought a new Brunswick boat for $17,000. He made a $2,500 down payment on it. The…

A: Solution- He owes 17000-2500=145 after the down payment.Add 4900 for finance charge and he owes…

Q: Betty Thomas borrowed $6500 onher Visa card to install a hot tub with landscaping around it. The…

A: Loan Amount = $6,500 Interest Rate = 1.6%

Q: Odysseus buys an Odyssey for $45,000.00. He pays $5000.00 down and the remainder in equal monthly…

A: (Note: Since you have posted multiple subparts questions, we will solve the first three sub-parts…