An Architect graduate and decides to buy a Ford Raptor. He has been advised that his monthly expenses Including tax and other fees should not exceed 35% of his disposable monthly income. After dolng some research over the market place he determines he can pay the vehicle in 30 year loan for 6.95% annual Interest per year, compounded monthly. His monthly gas fees will be approximately $150. What is the maximum amount she can pay for a car if hls disposable monthly Income Is $2000?

Q: Chuck Wells is planning to buy a Winnebago motor home. The listed price is $155,000. Chuck can get a…

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

Q: While buying a new car, Monica made a down payment of $900 and agreed to make month-end payments of…

A: Down payment (D) = $900 Month end payment (m) = $240 Monthly period of repayment (p) = 56 (i.e. 4…

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A: Any sum borrowed to meet some personal or business funding requirements is regarded as a…

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

Q: A recent college graduate buys a new car by borrowing $18,000 at 7.2%, compounded monthly, for 4…

A: Amortized loan: The method of loan where the borrower makes the periodic payments which include both…

Q: Dean decides to buy a used vehicle. The vehicle cost $10,000 and his car loan APR is 2.5%. If it…

A: Given information: Cost of vehicle is $10,000 APR is 2.5%, Number of years is 4

Q: Chuck Wells is planning to buy a Winnebago motor home. The listed price is $155,000. Chuck can get a…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Laura wants to buy a delivery truck. The truck costs $53,000, and will allow her to increase her…

A: Cost of truck= $53,000Annual after tax profits = $39,000Number of years = 10 YearsDown Payment = 72%…

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A: Using Excel PMT function

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A: 1) Calculation of Application Fee:2) Calculation of Broker's Fee:

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A: Formulas:

Q: Khiel wants to buy a car that costs $10,000, plus an extra 13% HST for a total price of $11,300. The…

A: Solved using Financial Calculator  1) Monthly payment to be made Pv = 11,300 N = 8 Years * 52 weeks…

Q: Peter was receiving rental payments of $2,000 at the end of each month from his tenants of his…

A: A perpetuity is like an annuity in which cash flows are streamed for an indefinite period of time.…

Q: Karl Yates needs $5,000 to pay for the remodeling work on his house. A contractor agrees to do the…

A: Given, The amount required is $5,000 Rate of interest is 6.3% Term is 10 months

Q: Natasha is going to take out an unsubsidized student loan of $13,500 at a 4.2% APR, compounded…

A: An unsubsidized student loan is a loan on which interest starts accruing the day money is deposited…

Q: Karl Yates needs $9,000 to pay for the remodeling work on his house. A contractor agrees to do the w…

A: The today value of future amount is the equivalent amount based on time period and interest rate…

Q: While buying a new car, Alexis made a down payment of $1,200 and agreed to make month - end payments…

A:

Q: Chuck Wells is planning to buy a Winnebago motor home. The listed price is $155,000. Chuck can get a…

A: A method of the loan in which the amount of installment is evaluated by combining the principal and…

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 recent college graduate buys a new car by borrowing $18,000 at 6%, compounded monthly, for 4…

A: The following calculations are done in the records of a recent college graduate who has applied for…

Q: Smith has arranged for a mortgage loan of $200,000. The annual rate on the loan is 12%. The bank…

A: Present value of annuity is basically the present value of all the cash that occur in future.

Q: Helen is buying a $12,375 car with a $3,000 down payment, followed by 36 months of $325. The down…

A: Price of car = $ 12,375 down payment = $ 3000 number of payments = 36 monthly payment = $ 325…

Q: Mr Teo wants to buy a house. His annual income is $48,000. The bank is willing to lend an amount…

A: As your question contains multiple subparts, we would be answering first three only. To get the…

Q: o buys a koi fishpond (and fish to put in it for his wife on their anniversary. He pays $8000 for…

A: In add on loans all interest for three year is added at one time and than monthly payment is done…

Q: Karl Yates needs $6,000 to pay for the remodeling work on his house. A contractor agrees to do the…

A: Present Value refers to the discounted value of a single cash flow or multiple cash flows today…