Glenn purchased a laptop through the credit cooperative of their company. The cooperative provides an option for a deferred payment. Glenn decided to pay after 4 months of purchase. His monthly payment is computed as P3,500 payable in 12 months. How much is the cash value of the laptop if the interest rate is 8% convertible monthly?

Q: The do Kari is purchasing a home for $220,0 payment is 25% and the balance will be finance with a 15…

A: Closing cost is defined as the processing fees which the person pay to the lender when the person…

Q: Rich buys a car for $34,000 and has two options for financing. The dealership offers either…

A: Time value of money :— According to this concept, value of present money is greater than the value…

Q: Joshua borrowed $500 for one year and paid $50 in interest. The bank charged him a service charge of…

A: Annual Percentage Rate (APR)= (2 * N * FC) / [ (P * (N+1)]

Q: Derek plans to buy a $31,184.00 car. The dealership offers zero percent financing for 55.00 months…

A: Discounting is a technique which is used to compute the present value (PV) of future amounts by…

Q: Gregorio bought a car with funds borrowed from a commercial bank. He intends to repay the note with…

A: Par value (FV) = P750,000 Discount rate (r) = 12% Period (d) = 270 days

Q: Tom borrowed 300,000 for his son Remy's law school tuition at the University of Missisippi. Tom…

A: We need to use Simple interest formula to calculate maturity value of loan. A =P(1+r*t) where A=…

Q: evin bought a washer and dryer for $1050 but only had a down payment of $150.00. He financed the…

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

Q: Taylor Swift, a college student of USEP decides to get a student loan amounting to $4,000 with an…

A: Amortized Loan:  Amortized loan is a type of loan in which the borrower would pay periodic payments…

Q: Jim made a down payment of 2500 dollars toward the purchase of a car. To pay the balance of the…

A: Given information: Down payment is $2,500 Nominal interest rate is 4% compounded monthly Payment of…

Q: Cardo borrowed money from a local cooperative. He received P18,420 but promised to pay P20,000 in…

A: Present Value = 18,420 Future Value = 20,000

Q: (a) An online lending company has offered him a 10-year small business loan at an annual interest…

A: (a) Calculate monthly payment for OLC as below: Resultant table: Hence, monthly payment for OLC…

Q: Jeff borrows $ 8000 from a bank in order to purchase a car. Jeff can afford monthly payments of $…

A: Present value is the sum of money that must be invested in order to achieve a specific future goal.…

Q: Marc has purchased a new car for $15,000. He paid $2,500 as down payment and he paid the balance by…

A: Here,Purchase Price of Car is $15,000Down Payment is $2,000Therefore, Loan Amount (PV) is:Interest…

Q: Lee purchased a laptop and promised to pay P2500 every month for 2 years, beginning on the date of…

A: Purchase of Assets on Loan Monthly payment Need to calculate prepayment price to close the liability

Q: Blake bought a new car and financed $⁢15,000 to make the purchase. He financed the car for 60 months…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: Kari is purchasing a home for $260,000. The down payment is 25% and the balance will be financed…

A: Home cost = $260,000 Maturity = 15 years Interest rate = 8% Deposited amount = $20,00 Expenses:…

Q: What is the cost of two points on the mortgage?

A: Information Provided: Selling Price = $125,000 Downpayment = 20% or $25,000 Loan amount = $100,000…

Q: Mr. Dalisay applied for a bank loan with a principal of P150,000 to be paid after five years in…

A: The amount of proceedings will be discouraged value of money today of future principal amount to be…

Q: (a) What is the value of the CD when it matures? $ (b) Three months before the CD was due to mature,…

A: Simple interest is quite simple and there is no interest on interest and used for period less than…

Q: Maria purchases a new big screen television for $850 on her VISA card that carries a favorable…

A: Formulas:

Q: simon's cost for a new computer with accessories was $3120. he made a down payment of $550 in…

A: Company would be paying the interest on the amount borrowed for the purpose of paying late. The more…

Q: Christine applied for a cash loan at PCG money lending company amounting to 100,000 pesos at 10.68%…

A: Cash loan (C) = 100000 pesos r = 10.68% n = 12 payments

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

A:

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: Find the closing costs (in $).

A: Closing Cost: It is  settlement costs. It is the fees  which  is paid  when obtaining  loan and…

Q: While buying a new car, Mitchell made a down payment of $1,000 and agreed to make month-end payments…

A: Compound = Monthly = 12Down Payment = dp = $1000Payment = p = $240Time = t = (4 * 12) + 9 = 48 + 9 =…

Q: John made a down payment of RM20,000 toward the purchase of a car. He secured a 9-year loan from a…

A: Down payment (DP) = RM 20,000 Monthly payment (P) = RM 715 Period = 9  Years Number of monthly…

Q: Raia purchases a new car for $32,000 and finances it with a 6-year simple interest loan at a rate of…

A: Formula Monthly payment  = PV/[1-(1+R)-N]/R Where PV - Loan amount i.e. $32,000 R - Monthly interest…

Q: 5. Juan takes out a 3-year multi-purpose loan for P200,000 from a loaning institution. The annual…

A: The annual interest rate is 12%. So, the monthly interest rate will be 12%/12months = 1%. Monthly…

Q: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed…

A: Particulars Amount Down payment amount (220,000*25%) $           55,000 Add :   Financed…

Q: Arnold purchased a note from Sylvester for $4300. The note will mature in 240 days, and bears 0.065…

A: Simple interest is the interest calculated on the principal and it is not compounded. The borrower…

Q: He took out a personal, amortized loan for $53,500, at an interest rate of 5.9%, with monthly…

A: Loan amount=$53500Interest rate=5.9%Period=n=15 years=180 months

Q: Arnold purchased a note from Sylvester for $4300. The note will mature in 240 days, and bears 0.065…

A: Interest represents the return that holder of instrument receives for investing his fund.

Q: While buying a new car, Alexander made a down payment of $1,100 and agreed to make month-end…

A: Given data:Down payment = $1,100Monthly payment (PMT) = $290Interest rate (r) = 4% compounded…