Calculate the cash selling price of the refrigerator. Calculate the installment price of the refrigerator. Calculate the carrying charge. Calculate the percent rate by which the installment price exceeds the cash selling price.

Q: annual percentage rate

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Q: A refrigerator sold for $500. The store financed the refrigerator by charging 0.5% monthly interest…

A: Given information:Selling price of refrigerator=$500Interest rate=0.5%No. of installments=30a)…

Q: 4. Your mom needs to borrow $45.500 for a house renovation. Her bank agrees to lend her the money…

A: Amount of loan = $45,500Period = 3 yearsAPR = 5%Q

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A: To calculate the simple interest rate we will use the below formula   Interest rate = [(A-P)/P]/T…

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Q: Zachary Porter of Abilene, Kansas, is contemplating borrowing $10,000 from his bank. The bank could…

A: Add-on Method As per this method, the interest is calculated at the start of the loan. It is then…

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Q: You can afford to pay $560 each month for a new car. The dealership offers you a 5-year loan at 6.4%…

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A: Given,   Cash price of computer = $ 3,000 Rate per 18 months = 0.12/12 * 18 = 36%

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Q: Zachary Porter of Abilene, Kansas, is contemplating borrowing $10,000 from his bank. The bank could…

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A: Compound = monthly = 12 Present value = pv = $31,795.66 Time = t = 4 * 12 = 48 month Interest rate =…

Q: You plan to purchase an $80,000 house using a 15-year mortgage obtained from your local bank. The…

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Q: Use a calculator for this exercise.Arrowood's Camera Store advertises a Canon Power Shot…

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Q: a. Calculate your monthly payments on this mortgage. b. Calculate the amount of interest and,…

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Q: A Hepplewhite sofa costs $3,850 in cash. Jaquanna Wilson will purchase the sofa in 24 monthly…

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A: Simple interest per month is calculated at: = Principal * rate of interest * 1/12

Q: Kimberly Jensen of Storm Lake, Iowa, wants to buy some living room furniture for her new apartment.…

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