Dick and Jane are getting ready to purchase a new home. they are looking to take out a 30 year lone and know the current rate is 45% if they can afford to pay $1000 monthly payments ignoring other costs, than how much money can they borrow for the home purchase

Q: Cindy has a new job offer but will need a new car for the job. After planning a budget, they…

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Q: Juan purchases an annuity for 4140 dollars that will make 17 annual payments, the first to come in…

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Q: Your uncle still wouldn't help you after you found your new job. The bills are right this month, so…

A: Solution:- Your uncle still wouldn't help you after you found your new job. The bills are right this…

Q: Roberto bought a $260,000 house, paying 22% down, and financing the rest at 6.8% interest for 30…

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Q: Bill borrows 3500 dollars, to be repaid with 12 equal monthly payments, the first coming 6 months…

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Q: Hui purchased a 91-day T-Bill that has a face value of $1000 and an interest rate of 4.00% p.a. a.…

A: Given, Interest Rate R=4.00%=0.04 Face Value = $1000 91 days T-bill

Q: Jazelle Momba wants to visit her family in Zimbabwe in 2025, which is 7 years from now. She knows…

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Q: Tabitha had to pay her friend $1,200, 4 months ago and he has to pay $670 in 4 months. If her friend…

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Q: Marina had an accident with her car and the repair bill came to $900. She didn’t have any emergency…

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Q: A Jacket priced at 50% is placed on sale at a discount of 20%. If the discounted price is then…

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Q: Mr. Spendit's credit card shows that for the billing period of June 24th through July 28th he made a…

A: To find the average daily balance, we need to calculate the daily balance for each day in the…

Q: The price of a home is $220,000, financed at 7% with a 30 year fixed rate. 20% down and 3 points…

A: The down payment is = Price of Home × percentage of down payment = $( 220,000 × 20%)…

Q: Sally and her family are looking into purchasing a home. The total cost is $260,000. They can afford…

A: Given that The total cost is $ 260,000 . down payment is $25,000The present value PV = The total…

Q: If a car priced  at $17,305 is offered for nothing down with 60 monthly payments of $397.63, what is…

A: Given Information -  Cost of the car = $17,305 Monthly payments to clear the debt = $397.63 Number…

Q: I've reached a goal of saving $6,500 and want to put my money into a savings account for one year.…

A: Given P=6500 r=8%=0.08 t=1 year

Q: You can buy a car for $25,200 or lease the same car for three years for a down payment of $1,500 and…

A: From the given information, it is observed that the basic price of the car is $25,200. If the car is…

Q: Harrison has received a job offer from a large investment bank as a clerk to an associate banker.…

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Q: Sam Song plans to buy a $16,000 Ford Focus with an interest charge of $4,000. Sam figures he can…

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Q: Roberto bought a $210,000 house, paying 24% down, and financing the rest at 6.8% interest for 30…

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Q: If your credit card balance is $ 410.35, what would be the minimum payment on your bill if you are…

A: Money owed  =  $410.35    3% of this money is  =3100×410·35  =$12.3105    As 3% of $410.35 =…

Q: If you borrow 1800 dollars from a lending agent for 65 weeks and in the end you have to pay 270…

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