In order to make some home improvements, a home owner spent $24000. He paid 18% as a down payment and financed the balance of the purchase with a 36-month fixed installment loan with an APR of 4.5% Determine the home owner's total finance charge and monthly payment. a. Total finance charge = $3074.40; Monthly payment = $752.07 b. Total finance charge = $1156.06; Monthly payment = $579.03 c. Total finance charge = $3381.02; Monthly payment = $640.58 d. Total finance charge = $1395.12; Monthly payment = $585.42

Q: My first 30-year fixed mortgage was for $200,000 at 6.25%. Determine my monthly mortgage payments.

A:

Q: Consider a student loan of $12,500 at a fixed APR of 6% for 25 years. a. Calculate the monthly…

A: (a) Obtain the monthly payment as follows.

Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: What would be the monthly payment on an add-on loan from a credit union at 6% over 36 months for the…

A: I solved with detailed analysis

Q: Iris Chung has a 15-year mortgage loan at an annual interest rate of 7.5%. After making payments of…

A: To determine the loan payoff value.

Q: Angela Montery has a five-year car loan for a Jeep Wrangler at an annual interest rate of 5.7% and a…

A: find explanation below

Q: What is the mortgage amount for a house showing closing costs for a purchase of $212,000 requiring a…

A:

Q: Calculate

A:

Q: Susan Company received an invoice for $77,000.00 that had payment terms of 2/5 n/30. If it made a…

A:

Q: Phil Armstrong earns a gross income of $5,355 per month. He has submitted an application for a…

A: Given that, monthly gross income is $5,355,  monthly PITI is $1,492 and  other financial obligation…

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Gina buys her first house for $250,000 at 5% APR with a 30-year mortgage.a. Find her monthly…

A: a) It is given that, Gina buys house for $250000 at 5% APR with a 30-year mortgage. Here Principal…

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Angela has just purchased a home for $159,000. A mortgage company has approved her loan application…

A:

Q: Stock Bonds and Mutual Funds/ Compound Ammount Formula/ Credit Card and Consumer Loan/APR 1. Mr.…

A: Given:      Loan amount d=980       Annual interest rate r=15%…

Q: Suppose you obtain a 30-year mortgage loan of $194,000 at an annual interest rate of 7.9%. The…

A: We have to find out answer of given question....

Q: Alan decides to buy a home. He takes out a mortgage of $400,000 with an interest rate of 4.6%.…

A:

Q: Justin received an invoice for $4,000 that had payment terms of 2/10 n/30. He made a partial payment…

A:

Q: Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,900. Her…

A: The amount Anny need to pay with 60 months is 285·60=$17100 .

Q: Mitchie borrowed $23,000 from Meridian Credit Union at 4% per year and agreed to repay the loan in…

A:

Q: Caleb received an invoice for $5,000 that had payment terms of 4/15 n/30. He made a partial payment…

A:

Q: Your total payment on a 7 year loan, which charged 6% annual simple interesr , amounted to $60,860.…

A: Given information -  Time period of the loan = 7 year. Rate of simple interest = 6% Total amount…