For problems 15-18, Find the (a) down payment and (b) amount financed15. Lawrence Huber purchased the finance of a $8,371.39 snowmobile with a 15%down payment16. Bailey Ruffin bought a new motorcycle for $18,936.50 and made a 30% downpayment.17. Devon Gallagher purchased home entertainment equipment for $4,020.19 usingthe store's credit plan. He made a 20% down payment.18. Linda Cusack purchased a $279.50 stereo player for her car. Using the store'scredit plan, she made a $50 down payment.15a15b16a16b17a17b18a18b

The advance cash payment made by the buyer for an estate's down payment and other substantial…

Answered: For problems 15-18, Find the (a) down…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Candida has a revolving credit account at an annual percentage rate of 24%. Her previous monthly balance is $529.79. Find the new balance using the previous month's balance method if Candida's account showed the following activity. Payment $143.30 Country Lumber (charge) $230.18 Zahir Antiques (credit) $358.05 Mountain Vineyards (charge) $204.94 Bart's Garage (charge) $294.21 $499.39 $549.39 $657.37 $768.37
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Mike purchases a bicycle costing $176.90. State taxes are 5% and local sales taxes are 3% the store charges $20 for assembly. What is the total purchase price in money
Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,700 and financed the balance with monthly payments of $239.38 for 36 months. (a) What is the finance charge (in $) on the loan? $ (b) Use Table 13-1 to find what annual percentage rate was charged on Meghan's loan. (Round your answer to two decimal places.) %
Dée Trader opens a brokerage account and purchases 300 shares of Internet Dreams at $40 per share. She borrows $4,000 from her broker to help pay for the purchase. The interest rate on the loan is 8%Dée Trader opens a brokerage account and purchases 300 shares of Internet Dreams at $40 per share. She borrows $4,000 from her broker to help pay for the purchase. The interest rate on the loan is 8%. Required: a. What is the margin in Dée’s account when she first purchases the stock? b. If the share price falls to $30 per share by the end of the year, what is the remaining margin in her account? c. If the maintenance margin requirement is 30%, will she receive a margin call? multiple choice Yes No Correct d. What is the rate of return on her investment? (Negative value should be indicated by a minus sign. Round your answer to 2 decimal places.)
Mike purchases a bicycle costing $152.70. State taxes are 4% and local sales taxes are 2%. The store charges $20 for assembly. What is the total purchase price (in $)? (Round your answer to the nearest cent.)_____
Doug Black bought a jet ski with a 6% add-on interest installment loan from his credit union. The purchase price was $1,950. The credit union required a 15% down payment and equal monthly payments for 48 months. What are Doug's monthly payments (in $)? (Round your answer to the nearest cent.) $
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 Oc. $2,020 O d. $2,000 Show A hInformative Top....docx MacBook Air EB
AUTO LOAN Kiara recieved a $10,000 loan from her Aunt to buy a car. Her Aunt charged her 2.5% interest. How long was the term of the loan if the interest accrued was $125?
Anwer

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